CXSE vs. CNQQ

Last updated Jun 5, 2026

CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) are both China Equities funds - CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index while CNQQ tracks the Solactive ChinaAMC Transformative China Tech. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. CXSE charges 0.32%/yr vs 0.75%/yr for CNQQ.

Performance

CXSE vs. CNQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXSE achieves a 0.56% return, which is significantly lower than CNQQ's 12.03% return.

CXSE

• 1D: -0.36%
• 1M: 0.50%
• YTD: 0.56%
• 6M: -0.29%
• 1Y: 21.07%
• 3Y*: 11.14%
• 5Y*: -8.14%
• 10Y*: 7.22%

CNQQ

• 1D: 0.38%
• 1M: 7.11%
• YTD: 12.03%
• 6M: 12.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CXSE vs. CNQQ - Yearly Performance Comparison

	2026 (YTD)	2025
CXSE WisdomTree China ex-State-Owned Enterprises Fund	0.56%	-6.51%
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	12.03%	-5.96%

Correlation

The correlation between CXSE and CNQQ is 0.93, 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 Sep 29, 2025	0.93

Return for Risk

CXSE vs. CNQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CXSE

CXSE Risk / Return Rank: 26
CXSE Sharpe Ratio Rank: 28
CXSE Sortino Ratio Rank: 28
CXSE Omega Ratio Rank: 27
CXSE Calmar Ratio Rank: 26
CXSE Martin Ratio Rank: 21

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.

CXSE vs. CNQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ). 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.

	CXSE	CNQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.99	—	—
Sortino ratio: Return per unit of downside risk	1.48	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.20	—	—
Martin ratio: Return relative to average drawdown	2.50	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CXSE	CNQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.33	-0.14

Drawdowns

CXSE vs. CNQQ - Drawdown Comparison

The maximum CXSE drawdown since its inception was -70.01%, which is greater than CNQQ's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for CXSE and CNQQ.

Drawdown Indicators

	CXSE	CNQQ	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-17.82%	-52.19%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-32.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-64.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.01%	—	—
Current Drawdown Current decline from peak	-46.21%	-1.09%	-45.12%
Average Drawdown Average peak-to-trough decline	-27.84%	-9.19%	-18.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.45%	—	—

Volatility

Volatility by Period

	CXSE	CNQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	24.37%	-2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.29%	24.37%	+7.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.69%	24.37%	+4.32%

CXSE vs. CNQQ - Expense Ratio Comparison

CXSE has a 0.32% expense ratio, which is lower than CNQQ's 0.75% expense ratio.

Dividends

CXSE vs. CNQQ - Dividend Comparison

CXSE's dividend yield for the trailing twelve months is around 1.99%, more than CNQQ's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	0.23%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	1.99%	1.95%	1.70%	1.71%	1.55%	0.86%	0.54%	0.96%	1.49%	1.24%	1.39%	2.50%

Frequently Asked Questions

Can I hold both CXSE and CNQQ in my portfolio?

With a correlation of 0.93, CXSE and CNQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CXSE or CNQQ?

On fees, CXSE is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CXSE or CNQQ?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.75% for CNQQ.

Which ETF pays a higher dividend yield, CXSE or CNQQ?

CXSE has the higher dividend yield at 1.99%, compared with 0.23% for CNQQ.

What is the main difference between CXSE and CNQQ?

CXSE tracks WisdomTree China ex-State-Owned Enterprises Index, while CNQQ tracks Solactive ChinaAMC Transformative China Tech. They also come from different issuers: WisdomTree and Rayliant. Their fees differ too: 0.32% for CXSE and 0.75% for CNQQ.