CNQQ vs. CXSE

Last updated Jun 5, 2026

CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both China Equities funds - CNQQ tracks the Solactive ChinaAMC Transformative China Tech while CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. CNQQ charges 0.75%/yr vs 0.32%/yr for CXSE.

Performance

CNQQ vs. CXSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNQQ achieves a 12.03% return, which is significantly higher than CXSE's 0.56% return.

CNQQ

• 1D: 0.38%
• 1M: 7.11%
• YTD: 12.03%
• 6M: 12.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CXSE

• 1D: -0.36%
• 1M: 0.50%
• YTD: 0.56%
• 6M: -0.29%
• 1Y: 21.07%
• 3Y*: 11.14%
• 5Y*: -8.14%
• 10Y*: 7.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNQQ vs. CXSE - Yearly Performance Comparison

	2026 (YTD)	2025
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	12.03%	-5.96%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	0.56%	-6.51%

Correlation

The correlation between CNQQ and CXSE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.93

Return for Risk

CNQQ vs. CXSE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CXSE

CXSE Risk / Return Rank: 26
CXSE Sharpe Ratio Rank: 28
CXSE Sortino Ratio Rank: 28
CXSE Omega Ratio Rank: 27
CXSE Calmar Ratio Rank: 26
CXSE Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNQQ vs. CXSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CNQQ	CXSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.99	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.19	+0.14

Drawdowns

CNQQ vs. CXSE - Drawdown Comparison

The maximum CNQQ drawdown since its inception was -17.82%, smaller than the maximum CXSE drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for CNQQ and CXSE.

Drawdown Indicators

	CNQQ	CXSE	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-70.01%	+52.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-32.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-64.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-70.01%	—
Current Drawdown Current decline from peak	-1.09%	-46.21%	+45.12%
Average Drawdown Average peak-to-trough decline	-9.19%	-27.84%	+18.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.45%	—

Volatility

Volatility by Period

	CNQQ	CXSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	21.39%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	32.29%	-7.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	28.69%	-4.32%

CNQQ vs. CXSE - Expense Ratio Comparison

CNQQ has a 0.75% expense ratio, which is higher than CXSE's 0.32% expense ratio.

Dividends

CNQQ vs. CXSE - Dividend Comparison

CNQQ's dividend yield for the trailing twelve months is around 0.23%, less than CXSE's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	0.23%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	1.99%	1.95%	1.70%	1.71%	1.55%	0.86%	0.54%	0.96%	1.49%	1.24%	1.39%	2.50%

Frequently Asked Questions

Can I hold both CNQQ and CXSE in my portfolio?

With a correlation of 0.93, CNQQ and CXSE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CNQQ or CXSE?

On fees, CXSE is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNQQ or CXSE?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.75% for CNQQ.

Which ETF pays a higher dividend yield, CNQQ or CXSE?

CXSE has the higher dividend yield at 1.99%, compared with 0.23% for CNQQ.

What is the main difference between CNQQ and CXSE?

CNQQ tracks Solactive ChinaAMC Transformative China Tech, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: Rayliant and WisdomTree. Their fees differ too: 0.75% for CNQQ and 0.32% for CXSE.