CQQQ vs. CNXT

Last updated Jul 16, 2026

CQQQ (Invesco China Technology ETF) and CNXT (VanEck Vectors ChinaAMC SME-ChiNext ETF) are both China Equities funds - CQQQ tracks the FTSE China Incl A 25% Technology Capped Index while CNXT tracks the SME-ChiNext 100 Index. Both are passively managed. Over the past 10 years, CQQQ returned 5.33%/yr vs 5.70%/yr for CNXT. A 0.67 correlation means they provide meaningful diversification when combined. CQQQ charges 0.70%/yr vs 0.65%/yr for CNXT.

Performance

CQQQ vs. CNXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco China Technology ETF (CQQQ) and VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CQQQ achieves a 3.44% return, which is significantly lower than CNXT's 24.01% return. Over the past 10 years, CQQQ has underperformed CNXT with an annualized return of 5.33%, while CNXT has yielded a comparatively higher 5.70% annualized return.

CQQQ

• 1D: -0.41%
• 1M: 0.24%
• 6M: -6.27%
• YTD: 3.44%
• 1Y: 20.14%
• 3Y*: 9.89%
• 5Y*: -6.51%
• 10Y*: 5.33%

CNXT

• 1D: -1.15%
• 1M: -5.99%
• 6M: 17.62%
• YTD: 24.01%
• 1Y: 82.60%
• 3Y*: 23.91%
• 5Y*: 2.34%
• 10Y*: 5.70%

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

CQQQ vs. CNXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CQQQ Invesco China Technology ETF	3.44%	34.96%	9.84%	-16.71%	-30.09%	-24.54%	57.33%	33.57%	-34.77%	74.31%
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	24.01%	59.31%	12.42%	-21.47%	-35.58%	8.78%	63.30%	42.66%	-39.48%	20.19%

Correlation

The correlation between CQQQ and CNXT is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jul 24, 2014	0.67

The correlation between CQQQ and CNXT shifts across timeframes, from 0.67 (all time) to 0.80 (3 years), reflecting how their relationship changes across market environments.

CQQQ vs. CNXT - Sectors Allocation Comparison

Sectors	CQQQ	CNXT
Technology	58.4%	44.3%
Communication Services	25.1%	0.9%
Consumer Cyclical	14.4%	0.6%
Industrials	1.5%	37.5%
Financial Services	0.6%	3.7%
Basic Materials	0.1%	4.9%
Consumer Defensive	-	1.4%
Energy	-	-
Healthcare	-	3.9%
Real Estate	-	-
Utilities	-	-

Return for Risk

CQQQ vs. CNXT — 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: 22
CQQQ Sortino Ratio Rank: 23
CQQQ Omega Ratio Rank: 22
CQQQ Calmar Ratio Rank: 22
CQQQ Martin Ratio Rank: 20

CNXT

CNXT Risk / Return Rank: 88
CNXT Sharpe Ratio Rank: 90
CNXT Sortino Ratio Rank: 85
CNXT Omega Ratio Rank: 81
CNXT Calmar Ratio Rank: 94
CNXT Martin Ratio Rank: 92

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. CNXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT). 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	CNXT	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.41	-1.77
Sortino ratio: Return per unit of downside risk	1.09	3.03	-1.94
Omega ratio: Gain probability vs. loss probability	1.13	1.38	-0.25
Calmar ratio: Return relative to maximum drawdown	0.83	5.40	-4.58
Martin ratio: Return relative to average drawdown	1.86	17.72	-15.85

CQQQ vs. CNXT - Sharpe Ratio Comparison

The current CQQQ Sharpe Ratio is 0.64, which is lower than the CNXT Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of CQQQ and CNXT, 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. CNXT - Drawdown Comparison

The maximum CQQQ drawdown since its inception was -73.99%, which is greater than CNXT's maximum drawdown of -68.98%. Use the drawdown chart below to compare losses from any high point for CQQQ and CNXT.

Drawdown Indicators

	CQQQ	CNXT	Difference
Max Drawdown Largest peak-to-trough decline	-73.99%	-68.98%	-5.01%
Max Drawdown (1Y) Largest decline over 1 year	-24.41%	-15.37%	-9.04%
Max Drawdown (3Y) Largest decline over 3 years	-35.93%	-48.60%	+12.67%
Max Drawdown (5Y) Largest decline over 5 years	-64.11%	-61.21%	-2.90%
Max Drawdown (10Y) Largest decline over 10 years	-73.99%	-63.30%	-10.69%
Current Drawdown Current decline from peak	-48.69%	-13.03%	-35.66%
Average Drawdown Average peak-to-trough decline	-28.42%	-42.59%	+14.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.84%	4.68%	+6.16%

Volatility

CQQQ vs. CNXT - Volatility Comparison

The current volatility for Invesco China Technology ETF (CQQQ) is 12.00%, while VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) has a volatility of 16.16%. This indicates that CQQQ experiences smaller price fluctuations and is considered to be less risky than CNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CQQQ	CNXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.00%	16.16%	-4.16%
Volatility (6M) Calculated over the trailing 6-month period	24.26%	25.43%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	31.85%	34.50%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.31%	35.89%	+2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.48%	32.00%	+1.48%

CQQQ vs. CNXT - Expense Ratio Comparison

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

Dividends

CQQQ vs. CNXT - Dividend Comparison

CQQQ's dividend yield for the trailing twelve months is around 2.09%, more than CNXT's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	0.15%	0.18%	0.15%	0.00%	0.00%	9.22%	0.01%	0.45%	0.00%	0.19%	0.00%	0.00%
CQQQ Invesco China Technology ETF	2.09%	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 CNXT in my portfolio?

CQQQ and CNXT have a correlation of 0.74, 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 CNXT?

CNXT has higher volatility (16.16%) compared to CQQQ (12.00%). In terms of maximum drawdown, CQQQ dropped -73.99% vs CNXT's -68.98%.

Which ETF is better, CQQQ or CNXT?

On 10-year performance, CNXT leads with 5.70% vs 5.33% for CQQQ. On fees, CNXT is cheaper at 0.65% per year. On volatility, CQQQ has been the lower-risk option at 12.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CQQQ or CNXT?

Over the 10-year period, CNXT has performed better with a 5.70% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CQQQ or CNXT?

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

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

CQQQ has the higher dividend yield at 2.09%, compared with 0.15% for CNXT.

What is the main difference between CQQQ and CNXT?

CQQQ tracks FTSE China Incl A 25% Technology Capped Index, while CNXT tracks SME-ChiNext 100 Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.70% for CQQQ and 0.65% for CNXT.

Which has better risk-adjusted returns?

CNXT currently has the higher Sharpe Ratio (2.41 vs 0.64), 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.