CNQQ vs. ECNS

Last updated Jun 5, 2026

CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and ECNS (iShares MSCI China Small-Cap ETF) are both exchange-traded funds - CNQQ is a China Equities fund tracking the Solactive ChinaAMC Transformative China Tech, while ECNS is a Asia Pacific Equities fund tracking the MSCI China Small Cap Index. Both are passively managed. A 0.69 correlation means they provide meaningful diversification when combined. CNQQ charges 0.75%/yr vs 0.59%/yr for ECNS.

Performance

CNQQ vs. ECNS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and iShares MSCI China Small-Cap ETF (ECNS). 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 ECNS's -4.50% return.

CNQQ

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

ECNS

• 1D: -0.01%
• 1M: -6.20%
• YTD: -4.50%
• 6M: -7.71%
• 1Y: 11.26%
• 3Y*: 7.75%
• 5Y*: -6.97%
• 10Y*: 1.77%

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

CNQQ vs. ECNS - Yearly Performance Comparison

	2026 (YTD)	2025
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	12.03%	-5.96%
ECNS iShares MSCI China Small-Cap ETF	-4.50%	-10.10%

Correlation

The correlation between CNQQ and ECNS is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.69

Return for Risk

CNQQ vs. ECNS — Risk / Return Rank

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

ECNS

ECNS Risk / Return Rank: 17
ECNS Sharpe Ratio Rank: 18
ECNS Sortino Ratio Rank: 18
ECNS Omega Ratio Rank: 19
ECNS Calmar Ratio Rank: 17
ECNS Martin Ratio Rank: 15

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. ECNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and iShares MSCI China Small-Cap ETF (ECNS). 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	ECNS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.54	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.02	+0.30

Drawdowns

CNQQ vs. ECNS - Drawdown Comparison

The maximum CNQQ drawdown since its inception was -17.82%, smaller than the maximum ECNS drawdown of -63.43%. Use the drawdown chart below to compare losses from any high point for CNQQ and ECNS.

Drawdown Indicators

	CNQQ	ECNS	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-63.43%	+45.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-31.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-59.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.43%	—
Current Drawdown Current decline from peak	-1.09%	-38.53%	+37.44%
Average Drawdown Average peak-to-trough decline	-9.19%	-29.39%	+20.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.21%	—

Volatility

Volatility by Period

	CNQQ	ECNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	20.91%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	29.44%	-5.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	25.89%	-1.52%

CNQQ vs. ECNS - Expense Ratio Comparison

CNQQ has a 0.75% expense ratio, which is higher than ECNS's 0.59% expense ratio.

Dividends

CNQQ vs. ECNS - Dividend Comparison

CNQQ's dividend yield for the trailing twelve months is around 0.23%, less than ECNS's 6.49% 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%
ECNS iShares MSCI China Small-Cap ETF	6.49%	6.20%	5.98%	4.89%	3.54%	4.87%	3.59%	3.23%	6.16%	3.18%	4.29%	3.58%

Frequently Asked Questions

Can I hold both CNQQ and ECNS in my portfolio?

CNQQ and ECNS have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNQQ or ECNS?

On fees, ECNS is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNQQ or ECNS?

ECNS is cheaper with a 0.59% expense ratio, compared with 0.75% for CNQQ.

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

ECNS has the higher dividend yield at 6.49%, compared with 0.23% for CNQQ.

What is the main difference between CNQQ and ECNS?

CNQQ is categorized as China Equities, while ECNS is Asia Pacific Equities. CNQQ tracks Solactive ChinaAMC Transformative China Tech, while ECNS tracks MSCI China Small Cap Index. They also come from different issuers: Rayliant and iShares. Their fees differ too: 0.75% for CNQQ and 0.59% for ECNS.