CNQQ vs. CXSE
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 0.92 suggests significant overlap in exposure. CNQQ charges 0.75%/yr vs 0.32%/yr for CXSE.
Performance
CNQQ vs. CXSE - Performance Comparison
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Returns By Period
In the year-to-date period, CNQQ achieves a 10.89% return, which is significantly higher than CXSE's -3.67% return.
CNQQ
- 1D
- -2.87%
- 1M
- 4.30%
- 6M
- 7.12%
- YTD
- 10.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CXSE
- 1D
- -1.18%
- 1M
- -0.82%
- 6M
- -7.49%
- YTD
- -3.67%
- 1Y
- 12.38%
- 3Y*
- 8.90%
- 5Y*
- -8.07%
- 10Y*
- 6.66%
CNQQ vs. CXSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 10.89% | -5.22% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -3.67% | -7.64% |
Correlation
The correlation between CNQQ and CXSE is 0.92, 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 26, 2025 | 0.92 |
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Return for Risk
CNQQ vs. CXSE — Risk / Return Rank
CNQQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CXSE
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CNQQ | CXSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.11 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.70 | — |
| Martin ratioReturn relative to average drawdown | — | 1.30 | — |
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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.
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Drawdown Indicators
| CNQQ | CXSE | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 | — | -62.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.01% | — |
Current DrawdownCurrent decline from peak | -3.94% | -48.47% | +44.53% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -27.97% | +19.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 9.45% | — |
Volatility
CNQQ vs. CXSE - Volatility Comparison
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Volatility by Period
| CNQQ | CXSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.62% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.66% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 26.76% | 22.07% | +4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.76% | 32.32% | -5.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.76% | 28.75% | -1.99% |
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 0.34%, less than CXSE's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 0.34% | 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 | 1.50% | 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
With a correlation of 0.92, 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.
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.
CXSE is cheaper with a 0.32% expense ratio, compared with 0.75% for CNQQ.
CXSE has the higher dividend yield at 1.50%, compared with 0.34% for CNQQ.
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.
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