CQQQ vs. ASIAX
CQQQ (Invesco China Technology ETF) and ASIAX (Invesco EQV Asia Pacific Equity Fund) are both funds - CQQQ is a China Equities fund tracking the FTSE China Incl A 25% Technology Capped Index, while ASIAX is a Asia Pacific Equities fund managed by Invesco. Over the past 10 years, CQQQ returned 4.42%/yr vs 7.83%/yr for ASIAX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. CQQQ charges 0.70%/yr vs 1.45%/yr for ASIAX.
Performance
CQQQ vs. ASIAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CQQQ achieves a -0.60% return, which is significantly lower than ASIAX's 15.02% return. Over the past 10 years, CQQQ has underperformed ASIAX with an annualized return of 4.42%, while ASIAX has yielded a comparatively higher 7.83% annualized return.
CQQQ
- 1D
- 2.99%
- 1M
- -4.26%
- 6M
- -4.67%
- YTD
- -0.60%
- 1Y
- 12.26%
- 3Y*
- 7.52%
- 5Y*
- -5.62%
- 10Y*
- 4.42%
- ALL TIME*
- 5.51%
ASIAX
- 1D
- 0.28%
- 1M
- 4.12%
- 6M
- 7.40%
- YTD
- 15.02%
- 1Y
- 32.97%
- 3Y*
- 15.22%
- 5Y*
- 6.78%
- 10Y*
- 7.83%
- ALL TIME*
- 8.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $53.35M | $63.10M | $77.04M |
CQQQ vs. ASIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CQQQ Invesco China Technology ETF | -0.60% | 34.96% | 9.84% | -16.71% | -30.09% | -24.54% | 57.33% | 33.57% | -34.77% | 74.31% |
ASIAX Invesco EQV Asia Pacific Equity Fund | 15.02% | 24.56% | 9.59% | 0.87% | -10.82% | -6.10% | 25.76% | 17.78% | -11.50% | 29.13% |
Correlation
The correlation between CQQQ and ASIAX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2009 | 0.71 |
The correlation between CQQQ and ASIAX has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CQQQ vs. ASIAX — Risk / Return Rank
CQQQ
ASIAX
CQQQ vs. ASIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and Invesco EQV Asia Pacific Equity Fund (ASIAX). 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.
| CQQQ | ASIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.36 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 3.01 | -2.51 |
| Martin ratioReturn relative to average drawdown | 1.08 | 8.98 | -7.89 |
Loading charts...
Drawdowns
CQQQ vs. ASIAX - Drawdown Comparison
The maximum CQQQ drawdown since its inception was -73.99%, which is greater than ASIAX's maximum drawdown of -63.78%. Use the drawdown chart below to compare losses from any high point for CQQQ and ASIAX.
Loading charts...
Drawdown Indicators
| CQQQ | ASIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.99% | -63.78% | -10.21% |
Max Drawdown (1Y)Largest decline over 1 year | -24.41% | -11.73% | -12.68% |
Max Drawdown (3Y)Largest decline over 3 years | -34.42% | -20.36% | -14.06% |
Max Drawdown (5Y)Largest decline over 5 years | -62.09% | -27.93% | -34.16% |
Max Drawdown (10Y)Largest decline over 10 years | -73.99% | -36.32% | -37.67% |
Current DrawdownCurrent decline from peak | -50.69% | -4.32% | -46.37% |
Average DrawdownAverage peak-to-trough decline | -28.50% | -15.04% | -13.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.34% | 3.93% | +7.41% |
Volatility
CQQQ vs. ASIAX - Volatility Comparison
Invesco China Technology ETF (CQQQ) has a higher volatility of 11.42% compared to Invesco EQV Asia Pacific Equity Fund (ASIAX) at 6.25%. This indicates that CQQQ's price experiences larger fluctuations and is considered to be riskier than ASIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CQQQ | ASIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.42% | 6.25% | +5.17% |
Volatility (6M)Calculated over the trailing 6-month period | 24.86% | 16.05% | +8.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.60% | 18.53% | +14.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.19% | 15.61% | +22.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.57% | 15.53% | +18.04% |
CQQQ vs. ASIAX - Expense Ratio Comparison
CQQQ has a 0.70% expense ratio, which is lower than ASIAX's 1.45% expense ratio.
Dividends
CQQQ vs. ASIAX - Dividend Comparison
CQQQ's dividend yield for the trailing twelve months is around 2.18%, less than ASIAX's 18.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASIAX Invesco EQV Asia Pacific Equity Fund | 18.62% | 21.41% | 8.68% | 2.84% | 7.25% | 7.71% | 7.37% | 5.67% | 7.17% | 7.91% | 1.09% | 3.15% |
CQQQ Invesco China Technology ETF | 2.18% | 2.17% | 0.28% | 0.55% | 0.08% | 0.00% | 0.47% | 0.01% | 0.43% | 1.41% | 1.69% | 1.77% |
Frequently Asked Questions
CQQQ and ASIAX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CQQQ has higher volatility (11.42%) compared to ASIAX (6.25%). In terms of maximum drawdown, CQQQ dropped -73.99% vs ASIAX's -63.78%.
ASIAX currently has the higher Sharpe Ratio (1.91 vs 0.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for CQQQ and ASIAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer