CWEB vs. CQQQ
Compare and contrast key facts about Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Invesco China Technology ETF (CQQQ).
CWEB and CQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both CWEB and CQQQ 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: CWEB or CQQQ.
Key characteristics
| CWEB | CQQQ | |
|---|---|---|
| YTD Return | 26.39% | 19.78% |
| 1Y Return | 23.91% | 18.00% |
| 3Y Return (Ann) | -38.68% | -14.09% |
| 5Y Return (Ann) | -30.87% | -3.00% |
| Sharpe Ratio | 0.34 | 0.54 |
| Sortino Ratio | 1.06 | 1.08 |
| Omega Ratio | 1.12 | 1.13 |
| Calmar Ratio | 0.25 | 0.27 |
| Martin Ratio | 1.02 | 1.50 |
| Ulcer Index | 24.34% | 13.46% |
| Daily Std Dev | 74.22% | 37.45% |
| Max Drawdown | -98.09% | -73.99% |
| Current Drawdown | -96.02% | -59.92% |
Correlation
The correlation between CWEB and CQQQ 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
CWEB vs. CQQQ - Performance Comparison
In the year-to-date period, CWEB achieves a 26.39% return, which is significantly higher than CQQQ's 19.78% 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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CWEB vs. CQQQ - Expense Ratio Comparison
CWEB has a 1.30% expense ratio, which is higher than CQQQ's 0.70% expense ratio.
Risk-Adjusted Performance
CWEB vs. CQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Invesco China Technology ETF (CQQQ). 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
CWEB vs. CQQQ - Dividend Comparison
CWEB's dividend yield for the trailing twelve months is around 2.04%, more than CQQQ's 0.46% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 2.04% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% | 0.00% | 0.00% | 0.00% | 0.00% |
CQQQ Invesco China Technology ETF | 0.46% | 0.55% | 0.08% | 0.00% | 0.47% | 0.01% | 0.43% | 1.42% | 1.69% | 1.77% | 1.00% | 0.79% |
Drawdowns
CWEB vs. CQQQ - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.09%, which is greater than CQQQ's maximum drawdown of -73.99%. Use the drawdown chart below to compare losses from any high point for CWEB and CQQQ. For additional features, visit the drawdowns tool.
Volatility
CWEB vs. CQQQ - Volatility Comparison
Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a higher volatility of 30.38% compared to Invesco China Technology ETF (CQQQ) at 16.80%. This indicates that CWEB's price experiences larger fluctuations and is considered to be riskier than CQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.