CQQQ vs. ASML.AS

Last updated Jun 13, 2026

CQQQ (Invesco China Technology ETF) is China Equities fund tracking the FTSE China Incl A 25% Technology Capped Index, while ASML.AS (ASML Holding NV) is a stock. Over the past 10 years, CQQQ returned 5.36%/yr vs 36.30%/yr for ASML.AS. At a 0.36 correlation, their price movements are largely independent.

Performance

CQQQ vs. ASML.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco China Technology ETF (CQQQ) and ASML Holding NV (ASML.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CQQQ is traded in USD, while ASML.AS is traded in EUR. To make them comparable, the ASML.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CQQQ achieves a -1.35% return, which is significantly lower than ASML.AS's 74.79% return. Over the past 10 years, CQQQ has underperformed ASML.AS with an annualized return of 5.36%, while ASML.AS has yielded a comparatively higher 36.30% annualized return.

CQQQ

• 1D: -1.27%
• 1M: -8.85%
• YTD: -1.35%
• 6M: -0.24%
• 1Y: 21.23%
• 3Y*: 8.01%
• 5Y*: -8.12%
• 10Y*: 5.36%

ASML.AS

• 1D: 3.29%
• 1M: 21.27%
• YTD: 74.79%
• 6M: 74.13%
• 1Y: 142.49%
• 3Y*: 38.10%
• 5Y*: 23.23%
• 10Y*: 36.30%

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

CQQQ vs. ASML.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CQQQ Invesco China Technology ETF	-1.35%	34.96%	9.84%	-16.71%	-30.09%	-24.54%	57.33%	33.57%	-34.77%	74.31%
ASML.AS ASML Holding NV	74.79%	55.50%	-5.84%	40.98%	-32.17%	66.56%	65.57%	91.52%	-9.12%	56.88%

Correlation

The correlation between CQQQ and ASML.AS is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 8, 2009	0.36

The correlation between CQQQ and ASML.AS shifts across timeframes, from 0.26 (3 years) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CQQQ vs. ASML.AS — Risk / Return Rank

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

CQQQ

CQQQ Risk / Return Rank: 22
CQQQ Sharpe Ratio Rank: 23
CQQQ Sortino Ratio Rank: 24
CQQQ Omega Ratio Rank: 23
CQQQ Calmar Ratio Rank: 22
CQQQ Martin Ratio Rank: 20

ASML.AS

ASML.AS Risk / Return Rank: 96
ASML.AS Sharpe Ratio Rank: 97
ASML.AS Sortino Ratio Rank: 95
ASML.AS Omega Ratio Rank: 94
ASML.AS Calmar Ratio Rank: 97
ASML.AS Martin Ratio Rank: 97

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.

CQQQ vs. ASML.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and ASML Holding NV (ASML.AS). 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	ASML.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.71	3.40	-2.69
Sortino ratio: Return per unit of downside risk	1.18	3.79	-2.60
Omega ratio: Gain probability vs. loss probability	1.14	1.48	-0.34
Calmar ratio: Return relative to maximum drawdown	0.87	8.62	-7.75
Martin ratio: Return relative to average drawdown	2.01	22.05	-20.04

CQQQ vs. ASML.AS - Sharpe Ratio Comparison

The current CQQQ Sharpe Ratio is 0.71, which is lower than the ASML.AS Sharpe Ratio of 3.40. The chart below compares the historical Sharpe Ratios of CQQQ and ASML.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CQQQ vs. ASML.AS - Drawdown Comparison

The maximum CQQQ drawdown since its inception was -73.99%, which is greater than ASML.AS's maximum drawdown of -62.21%. Use the drawdown chart below to compare losses from any high point for CQQQ and ASML.AS.

Drawdown Indicators

	CQQQ	ASML.AS	Difference
Max Drawdown Largest peak-to-trough decline	-73.99%	-62.21%	-11.78%
Max Drawdown (1Y) Largest decline over 1 year	-24.41%	-16.24%	-8.17%
Max Drawdown (3Y) Largest decline over 3 years	-35.93%	-44.77%	+8.84%
Max Drawdown (5Y) Largest decline over 5 years	-66.96%	-56.04%	-10.92%
Max Drawdown (10Y) Largest decline over 10 years	-73.99%	-56.04%	-17.95%
Current Drawdown Current decline from peak	-51.07%	0.00%	-51.07%
Average Drawdown Average peak-to-trough decline	-28.32%	-15.04%	-13.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.60%	6.38%	+4.22%

Volatility

CQQQ vs. ASML.AS - Volatility Comparison

The current volatility for Invesco China Technology ETF (CQQQ) is 10.63%, while ASML Holding NV (ASML.AS) has a volatility of 13.97%. This indicates that CQQQ experiences smaller price fluctuations and is considered to be less risky than ASML.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CQQQ	ASML.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	13.97%	-3.34%
Volatility (6M) Calculated over the trailing 6-month period	22.55%	32.33%	-9.78%
Volatility (1Y) Calculated over the trailing 1-year period	30.20%	41.20%	-11.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.09%	40.32%	-2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.33%	35.45%	-2.12%

Dividends

CQQQ vs. ASML.AS - Dividend Comparison

CQQQ's dividend yield for the trailing twelve months is around 2.20%, more than ASML.AS's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASML.AS ASML Holding NV	0.46%	0.71%	0.92%	0.87%	1.28%	0.47%	0.64%	1.19%	1.02%	0.83%	0.98%	0.85%
CQQQ Invesco China Technology ETF	2.20%	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

Can I hold both CQQQ and ASML.AS in my portfolio?

CQQQ and ASML.AS have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.