CQQQ vs. CWEB
Compare and contrast key facts about Invesco China Technology ETF (CQQQ) and Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB).
CQQQ and CWEB 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. CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016. Both CQQQ and CWEB 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 CWEB.
Key characteristics
| CQQQ | CWEB | |
|---|---|---|
| YTD Return | 17.25% | 21.20% |
| 1Y Return | 14.54% | 19.37% |
| 3Y Return (Ann) | -14.68% | -39.49% |
| 5Y Return (Ann) | -3.31% | -31.31% |
| Sharpe Ratio | 0.41 | 0.25 |
| Sortino Ratio | 0.91 | 0.95 |
| Omega Ratio | 1.11 | 1.11 |
| Calmar Ratio | 0.21 | 0.19 |
| Martin Ratio | 1.15 | 0.77 |
| Ulcer Index | 13.50% | 24.42% |
| Daily Std Dev | 37.48% | 74.34% |
| Max Drawdown | -73.99% | -98.09% |
| Current Drawdown | -60.77% | -96.18% |
Correlation
The correlation between CQQQ and CWEB is 0.91, 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. CWEB - Performance Comparison
In the year-to-date period, CQQQ achieves a 17.25% return, which is significantly lower than CWEB's 21.20% 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. CWEB - Expense Ratio Comparison
CQQQ has a 0.70% expense ratio, which is lower than CWEB's 1.30% expense ratio.
Risk-Adjusted Performance
CQQQ vs. CWEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB). 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. CWEB - Dividend Comparison
CQQQ's dividend yield for the trailing twelve months is around 0.47%, less than CWEB's 2.13% 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% |
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 2.13% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CQQQ vs. CWEB - Drawdown Comparison
The maximum CQQQ drawdown since its inception was -73.99%, smaller than the maximum CWEB drawdown of -98.09%. Use the drawdown chart below to compare losses from any high point for CQQQ and CWEB. For additional features, visit the drawdowns tool.
Volatility
CQQQ vs. CWEB - Volatility Comparison
The current volatility for Invesco China Technology ETF (CQQQ) is 12.25%, while Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a volatility of 22.28%. This indicates that CQQQ experiences smaller price fluctuations and is considered to be less risky than CWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.