CNQQ vs. FCA
CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and FCA (First Trust China AlphaDEX Fund) are both China Equities funds - CNQQ tracks the Solactive ChinaAMC Transformative China Tech while FCA tracks the NASDAQ AlphaDEX China Index. Both are passively managed. Their 0.48 correlation means their historical movements had little consistent relationship. CNQQ charges 0.75%/yr vs 0.80%/yr for FCA.
Performance
CNQQ vs. FCA - Performance Comparison
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Returns By Period
In the year-to-date period, CNQQ achieves a 1.50% return, which is significantly higher than FCA's -1.73% return.
CNQQ
- 1D
- 0.73%
- 1M
- -4.81%
- 6M
- -0.44%
- YTD
- 1.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FCA
- 1D
- 0.13%
- 1M
- 2.89%
- 6M
- -13.34%
- YTD
- -1.73%
- 1Y
- 11.99%
- 3Y*
- 14.04%
- 5Y*
- 3.42%
- 10Y*
- 7.88%
- ALL TIME*
- 2.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $685.05K | $467.08K | $508.55K | |
| $167.08K | $290.49K | $1.96M |
CNQQ vs. FCA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 1.50% | -5.22% |
FCA First Trust China AlphaDEX Fund | -1.73% | 2.07% |
Correlation
The correlation between CNQQ and FCA is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025 | 0.48 |
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Return for Risk
CNQQ vs. FCA — Risk / Return Rank
CNQQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FCA
CNQQ vs. FCA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and First Trust China AlphaDEX Fund (FCA). 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 | FCA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.09 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.43 | — |
| Martin ratioReturn relative to average drawdown | — | 1.23 | — |
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Drawdowns
CNQQ vs. FCA - Drawdown Comparison
The maximum CNQQ drawdown since its inception was -17.82%, smaller than the maximum FCA drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for CNQQ and FCA.
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Drawdown Indicators
| CNQQ | FCA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.82% | -45.56% | +27.74% |
Max Drawdown (1Y)Largest decline over 1 year | — | -24.11% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -42.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.47% | — |
Current DrawdownCurrent decline from peak | -12.07% | -19.71% | +7.64% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -21.61% | +13.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.38% | — |
Volatility
CNQQ vs. FCA - Volatility Comparison
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Volatility by Period
| CNQQ | FCA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.77% | 23.46% | +4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.77% | 27.77% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.77% | 26.74% | +1.03% |
CNQQ vs. FCA - Expense Ratio Comparison
CNQQ has a 0.75% expense ratio, which is lower than FCA's 0.80% expense ratio.
Dividends
CNQQ vs. FCA - Dividend Comparison
CNQQ's dividend yield for the trailing twelve months is around 0.39%, less than FCA's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 0.39% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCA First Trust China AlphaDEX Fund | 2.87% | 2.67% | 5.17% | 5.70% | 6.00% | 4.91% | 4.12% | 3.73% | 3.10% | 2.30% | 2.51% | 4.13% |
Frequently Asked Questions
CNQQ and FCA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNQQ is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNQQ is cheaper with a 0.75% expense ratio, compared with 0.80% for FCA.
FCA has the higher dividend yield at 2.87%, compared with 0.39% for CNQQ.
CNQQ tracks Solactive ChinaAMC Transformative China Tech, while FCA tracks NASDAQ AlphaDEX China Index. They also come from different issuers: Rayliant and First Trust. Their fees differ too: 0.75% for CNQQ and 0.80% for FCA.
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