CQQQ vs. AAXJ
Compare and contrast key facts about Invesco China Technology ETF (CQQQ) and iShares MSCI All Country Asia ex-Japan ETF (AAXJ).
CQQQ and AAXJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CQQQ is a passively managed fund by Invesco that tracks the performance of the AlphaShares China Technology Index. It was launched on Dec 8, 2009. AAXJ is a passively managed fund by iShares that tracks the performance of the MSCI All Country Asia ex Japan Index. It was launched on Aug 13, 2008. Both CQQQ and AAXJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CQQQ or AAXJ.
Key characteristics
| CQQQ | AAXJ | |
|---|---|---|
| YTD Return | 17.25% | 15.37% |
| 1Y Return | 14.54% | 20.97% |
| 3Y Return (Ann) | -14.68% | -1.83% |
| 5Y Return (Ann) | -3.31% | 3.15% |
| 10Y Return (Ann) | 2.05% | 4.04% |
| Sharpe Ratio | 0.41 | 1.23 |
| Sortino Ratio | 0.91 | 1.81 |
| Omega Ratio | 1.11 | 1.22 |
| Calmar Ratio | 0.21 | 0.58 |
| Martin Ratio | 1.15 | 6.18 |
| Ulcer Index | 13.50% | 3.33% |
| Daily Std Dev | 37.48% | 16.71% |
| Max Drawdown | -73.99% | -49.37% |
| Current Drawdown | -60.77% | -20.08% |
Correlation
The correlation between CQQQ and AAXJ is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
CQQQ vs. AAXJ - Performance Comparison
In the year-to-date period, CQQQ achieves a 17.25% return, which is significantly higher than AAXJ's 15.37% return. Over the past 10 years, CQQQ has underperformed AAXJ with an annualized return of 2.05%, while AAXJ has yielded a comparatively higher 4.04% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CQQQ vs. AAXJ - Expense Ratio Comparison
CQQQ has a 0.70% expense ratio, which is higher than AAXJ's 0.68% expense ratio.
Risk-Adjusted Performance
CQQQ vs. AAXJ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and iShares MSCI All Country Asia ex-Japan ETF (AAXJ). 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.
Dividends
CQQQ vs. AAXJ - Dividend Comparison
CQQQ's dividend yield for the trailing twelve months is around 0.47%, less than AAXJ's 1.79% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CQQQ Invesco China Technology ETF | 0.47% | 0.55% | 0.08% | 0.00% | 0.47% | 0.01% | 0.43% | 1.42% | 1.69% | 1.77% | 1.00% | 0.79% |
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.79% | 2.26% | 1.73% | 2.21% | 1.06% | 1.83% | 2.10% | 1.99% | 1.77% | 2.44% | 1.78% | 1.77% |
Drawdowns
CQQQ vs. AAXJ - Drawdown Comparison
The maximum CQQQ drawdown since its inception was -73.99%, which is greater than AAXJ's maximum drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for CQQQ and AAXJ. For additional features, visit the drawdowns tool.
Volatility
CQQQ vs. AAXJ - Volatility Comparison
Invesco China Technology ETF (CQQQ) has a higher volatility of 12.25% compared to iShares MSCI All Country Asia ex-Japan ETF (AAXJ) at 4.31%. This indicates that CQQQ's price experiences larger fluctuations and is considered to be riskier than AAXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.