CQQQ vs. CHIQ

Last updated Aug 5, 2026

CQQQ (Invesco China Technology ETF) and CHIQ (Global X MSCI China Consumer Discretionary ETF) are both China Equities funds - CQQQ tracks the FTSE China Incl A 25% Technology Capped Index while CHIQ tracks the MSCI China Consumer Discretionary 10/50 Index. Both are passively managed. Over the past 10 years, CQQQ returned 4.42%/yr vs 6.32%/yr for CHIQ. Their correlation of 0.83 means they have usually moved in the same direction. CQQQ charges 0.70%/yr vs 0.65%/yr for CHIQ.

Performance

CQQQ vs. CHIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco China Technology ETF (CQQQ) and Global X MSCI China Consumer Discretionary ETF (CHIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CQQQ achieves a -0.60% return, which is significantly higher than CHIQ's -12.61% return. Over the past 10 years, CQQQ has underperformed CHIQ with an annualized return of 4.42%, while CHIQ has yielded a comparatively higher 6.32% 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%

CHIQ

• 1D: -0.78%
• 1M: 13.46%
• 6M: -11.03%
• YTD: -12.61%
• 1Y: -11.86%
• 3Y*: -1.64%
• 5Y*: -8.27%
• 10Y*: 6.32%
• ALL TIME*: 2.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CHIQ Global X MSCI China Consumer Discretionary ETF	$1.03M	$735.04K	$809.72K
CQQQ Invesco China Technology ETF	$53.35M	$63.10M	$77.04M

CQQQ vs. CHIQ - 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%
CHIQ Global X MSCI China Consumer Discretionary ETF	-12.61%	13.69%	10.74%	-10.70%	-22.01%	-27.07%	92.61%	44.19%	-28.65%	67.74%

Correlation

The correlation between CQQQ and CHIQ is 0.58, 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.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Dec 8, 2009	0.83

Over the past year, the correlation between CQQQ and CHIQ has dropped to 0.58 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

CQQQ vs. CHIQ - Sectors Allocation Comparison

Sectors	CQQQ	CHIQ
Technology	57.0%	0.3%
Communication Services	24.7%	-
Consumer Cyclical	16.5%	95.2%
Industrials	1.2%	0.3%
Financial Services	0.5%	-
Basic Materials	0.1%	-
Consumer Defensive	-	3.5%
Energy	-	-
Healthcare	-	-
Real Estate	-	0.3%
Utilities	-	-

Return for Risk

CQQQ vs. CHIQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CQQQ

CQQQ Risk / Return Rank: 18
CQQQ Sharpe Ratio Rank: 18
CQQQ Sortino Ratio Rank: 20
CQQQ Omega Ratio Rank: 19
CQQQ Calmar Ratio Rank: 18
CQQQ Martin Ratio Rank: 18

CHIQ

CHIQ Risk / Return Rank: 5
CHIQ Sharpe Ratio Rank: 5
CHIQ Sortino Ratio Rank: 5
CHIQ Omega Ratio Rank: 5
CHIQ Calmar Ratio Rank: 6
CHIQ Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CQQQ vs. CHIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and Global X MSCI China Consumer Discretionary ETF (CHIQ). 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	CHIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.38	-0.52	+0.89
Sortino ratio: Return per unit of downside risk	0.76	-0.61	+1.37
Omega ratio: Gain probability vs. loss probability	1.09	0.93	+0.16
Calmar ratio: Return relative to maximum drawdown	0.50	-0.34	+0.84
Martin ratio: Return relative to average drawdown	1.08	-0.71	+1.79

CQQQ vs. CHIQ - Sharpe Ratio Comparison

The current CQQQ Sharpe Ratio is 0.38, which is higher than the CHIQ Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of CQQQ and CHIQ, 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. CHIQ - Drawdown Comparison

The maximum CQQQ drawdown since its inception was -73.99%, which is greater than CHIQ's maximum drawdown of -67.04%. Use the drawdown chart below to compare losses from any high point for CQQQ and CHIQ.

Drawdown Indicators

	CQQQ	CHIQ	Difference
Max Drawdown Largest peak-to-trough decline	-73.99%	-67.04%	-6.95%
Max Drawdown (1Y) Largest decline over 1 year	-24.41%	-35.53%	+11.12%
Max Drawdown (3Y) Largest decline over 3 years	-34.42%	-35.53%	+1.11%
Max Drawdown (5Y) Largest decline over 5 years	-62.09%	-54.89%	-7.20%
Max Drawdown (10Y) Largest decline over 10 years	-73.99%	-67.04%	-6.95%
Current Drawdown Current decline from peak	-50.69%	-54.15%	+3.46%
Average Drawdown Average peak-to-trough decline	-28.50%	-30.87%	+2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.34%	16.85%	-5.51%

Volatility

CQQQ vs. CHIQ - Volatility Comparison

Invesco China Technology ETF (CQQQ) has a higher volatility of 11.42% compared to Global X MSCI China Consumer Discretionary ETF (CHIQ) at 6.69%. This indicates that CQQQ's price experiences larger fluctuations and is considered to be riskier than CHIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CQQQ	CHIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.42%	6.69%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	24.86%	16.64%	+8.22%
Volatility (1Y) Calculated over the trailing 1-year period	32.60%	23.16%	+9.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.19%	37.29%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.57%	32.47%	+1.10%

CQQQ vs. CHIQ - Expense Ratio Comparison

CQQQ has a 0.70% expense ratio, which is higher than CHIQ's 0.65% expense ratio.

Dividends

CQQQ vs. CHIQ - Dividend Comparison

CQQQ's dividend yield for the trailing twelve months is around 2.18%, more than CHIQ's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHIQ Global X MSCI China Consumer Discretionary ETF	1.54%	1.48%	2.65%	2.26%	0.38%	0.00%	0.11%	1.05%	2.71%	0.62%	1.51%	4.86%
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

Can I hold both CQQQ and CHIQ in my portfolio?

CQQQ and CHIQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CQQQ or CHIQ?

CQQQ has higher volatility (11.42%) compared to CHIQ (6.69%). In terms of maximum drawdown, CQQQ dropped -73.99% vs CHIQ's -67.04%.

Which ETF is better, CQQQ or CHIQ?

On 10-year performance, CHIQ leads with 6.32% vs 4.42% for CQQQ. On fees, CHIQ is cheaper at 0.65% per year. On volatility, CHIQ has been the lower-risk option at 6.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CQQQ or CHIQ?

Over the 10-year period, CHIQ has performed better with a 6.32% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CQQQ or CHIQ?

CHIQ is cheaper with a 0.65% expense ratio, compared with 0.70% for CQQQ.

Which ETF pays a higher dividend yield, CQQQ or CHIQ?

CQQQ has the higher dividend yield at 2.18%, compared with 1.54% for CHIQ.

What is the main difference between CQQQ and CHIQ?

CQQQ tracks FTSE China Incl A 25% Technology Capped Index, while CHIQ tracks MSCI China Consumer Discretionary 10/50 Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.70% for CQQQ and 0.65% for CHIQ.

Which has better risk-adjusted returns?

CQQQ currently has the higher Sharpe Ratio (0.38 vs -0.52), 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.