CQQQ vs. DRGN
CQQQ (Invesco China Technology ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both exchange-traded funds - CQQQ is a China Equities fund tracking the FTSE China Incl A 25% Technology Capped Index, while DRGN is a Technology Equities fund tracking the BITA China Generative AI Select Index. Both are passively managed. Their correlation of 0.86 suggests significant overlap in exposure. CQQQ charges 0.70%/yr vs 0.39%/yr for DRGN.
Performance
CQQQ vs. DRGN - Performance Comparison
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Returns By Period
In the year-to-date period, CQQQ achieves a 2.98% return, which is significantly lower than DRGN's 12.74% return.
CQQQ
- 1D
- -2.80%
- 1M
- 1.48%
- YTD
- 2.98%
- 6M
- 3.86%
- 1Y
- 28.75%
- 3Y*
- 11.40%
- 5Y*
- -7.83%
- 10Y*
- 5.85%
DRGN
- 1D
- -4.16%
- 1M
- -1.59%
- YTD
- 12.74%
- 6M
- 14.79%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CQQQ vs. DRGN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CQQQ Invesco China Technology ETF | 2.98% | 19.87% |
DRGN Themes China Generative Artificial Intelligence ETF | 12.74% | 26.96% |
Correlation
The correlation between CQQQ and DRGN is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025 | 0.86 |
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Return for Risk
CQQQ vs. DRGN — Risk / Return Rank
CQQQ
DRGN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CQQQ vs. DRGN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco China Technology ETF (CQQQ) and Themes China Generative Artificial Intelligence ETF (DRGN). 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 | DRGN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | — | — |
| Martin ratioReturn relative to average drawdown | 2.70 | — | — |
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Drawdowns
CQQQ vs. DRGN - Drawdown Comparison
The maximum CQQQ drawdown since its inception was -73.99%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for CQQQ and DRGN.
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Drawdown Indicators
| CQQQ | DRGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.99% | -20.86% | -53.13% |
Max Drawdown (1Y)Largest decline over 1 year | -24.41% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -35.93% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -66.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -73.99% | — | — |
Current DrawdownCurrent decline from peak | -48.92% | -10.09% | -38.83% |
Average DrawdownAverage peak-to-trough decline | -28.35% | -8.05% | -20.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.68% | — | — |
Volatility
CQQQ vs. DRGN - Volatility Comparison
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Volatility by Period
| CQQQ | DRGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 23.33% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 30.65% | 35.21% | -4.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.16% | 35.21% | +2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.38% | 35.21% | -1.83% |
CQQQ vs. DRGN - Expense Ratio Comparison
CQQQ has a 0.70% expense ratio, which is higher than DRGN's 0.39% expense ratio.
Dividends
CQQQ vs. DRGN - Dividend Comparison
CQQQ's dividend yield for the trailing twelve months is around 2.10%, more than DRGN's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CQQQ Invesco China Technology ETF | 2.10% | 2.17% | 0.28% | 0.55% | 0.08% | 0.00% | 0.47% | 0.01% | 0.43% | 1.41% | 1.69% | 1.77% |
DRGN Themes China Generative Artificial Intelligence ETF | 1.08% | 1.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CQQQ and DRGN have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DRGN is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DRGN is cheaper with a 0.39% expense ratio, compared with 0.70% for CQQQ.
CQQQ has the higher dividend yield at 2.10%, compared with 1.08% for DRGN.
CQQQ is categorized as China Equities, while DRGN is Technology Equities. CQQQ tracks FTSE China Incl A 25% Technology Capped Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: Invesco and Themes. Their fees differ too: 0.70% for CQQQ and 0.39% for DRGN.
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