CXSE vs. CQQQ

Last updated Aug 5, 2026

CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and CQQQ (Invesco China Technology ETF) are both China Equities funds - CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index while CQQQ tracks the FTSE China Incl A 25% Technology Capped Index. Both are passively managed. Over the past 10 years, CXSE returned 6.52%/yr vs 4.42%/yr for CQQQ. Their correlation of 0.83 means they have usually moved in the same direction. CXSE charges 0.32%/yr vs 0.70%/yr for CQQQ.

Performance

CXSE vs. CQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, CXSE achieves a -2.80% return, which is significantly lower than CQQQ's -0.60% return. Over the past 10 years, CXSE has outperformed CQQQ with an annualized return of 6.52%, while CQQQ has yielded a comparatively lower 4.42% annualized return.

CXSE

• 1D: 1.60%
• 1M: 3.19%
• 6M: -4.37%
• YTD: -2.80%
• 1Y: 6.79%
• 3Y*: 6.76%
• 5Y*: -6.30%
• 10Y*: 6.52%
• ALL TIME*: 4.89%

CQQQ

• 1D: 2.99%
• 1M: -4.26%
• 6M: -4.67%
• YTD: -0.60%
• 1Y: 12.26%
• 3Y*: 7.52%
• 5Y*: -5.62%
• 10Y*: 4.42%
• ALL TIME*: 5.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CQQQ Invesco China Technology ETF	$53.35M	$63.10M	$77.04M
CXSE WisdomTree China ex-State-Owned Enterprises Fund	$1.94M	$1.25M	$1.09M

CXSE vs. CQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CXSE WisdomTree China ex-State-Owned Enterprises Fund	-2.80%	37.00%	8.56%	-18.02%	-29.32%	-23.67%	59.39%	37.96%	-28.55%	81.50%
CQQQ Invesco China Technology ETF	-0.60%	34.96%	9.84%	-16.71%	-30.09%	-24.54%	57.33%	33.57%	-34.77%	74.31%

Correlation

The correlation between CXSE and CQQQ is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012	0.83

The correlation between CXSE and CQQQ shifts across timeframes, from 0.83 (all time) to 0.93 (5 years), reflecting how their relationship changes across market environments.

CXSE vs. CQQQ - Sectors Allocation Comparison

Sectors	CXSE	CQQQ
Technology	31.4%	57.0%
Consumer Cyclical	21.7%	16.5%
Industrials	12.6%	1.2%
Communication Services	12.2%	24.7%
Healthcare	8.8%	-
Financial Services	5.8%	0.5%
Consumer Defensive	3.7%	-
Basic Materials	2.9%	0.1%
Real Estate	0.7%	-
Energy	0.4%	-
Utilities	0.2%	-

Return for Risk

CXSE vs. CQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CXSE

CXSE Risk / Return Rank: 16
CXSE Sharpe Ratio Rank: 16
CXSE Sortino Ratio Rank: 16
CXSE Omega Ratio Rank: 16
CXSE Calmar Ratio Rank: 16
CXSE Martin Ratio Rank: 15

CQQQ

CQQQ Risk / Return Rank: 18
CQQQ Sharpe Ratio Rank: 18
CQQQ Sortino Ratio Rank: 20
CQQQ Omega Ratio Rank: 19
CQQQ Calmar Ratio Rank: 18
CQQQ Martin Ratio Rank: 18

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CXSE vs. CQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) 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.

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.

	CXSE	CQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.30	0.38	-0.08
Sortino ratio: Return per unit of downside risk	0.57	0.76	-0.19
Omega ratio: Gain probability vs. loss probability	1.07	1.09	-0.02
Calmar ratio: Return relative to maximum drawdown	0.39	0.50	-0.12
Martin ratio: Return relative to average drawdown	0.67	1.08	-0.42

CXSE vs. CQQQ - Sharpe Ratio Comparison

The current CXSE Sharpe Ratio is 0.30, which is comparable to the CQQQ Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of CXSE and CQQQ, 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

CXSE vs. CQQQ - Drawdown Comparison

The maximum CXSE drawdown since its inception was -70.01%, smaller than the maximum CQQQ drawdown of -73.99%. Use the drawdown chart below to compare losses from any high point for CXSE and CQQQ.

Drawdown Indicators

	CXSE	CQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-73.99%	+3.98%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-24.41%	+6.71%
Max Drawdown (3Y) Largest decline over 3 years	-29.83%	-34.42%	+4.59%
Max Drawdown (5Y) Largest decline over 5 years	-58.68%	-62.09%	+3.41%
Max Drawdown (10Y) Largest decline over 10 years	-70.01%	-73.99%	+3.98%
Current Drawdown Current decline from peak	-48.00%	-50.69%	+2.69%
Average Drawdown Average peak-to-trough decline	-28.07%	-28.50%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.22%	11.34%	-1.12%

Volatility

CXSE vs. CQQQ - Volatility Comparison

The current volatility for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) is 7.12%, while Invesco China Technology ETF (CQQQ) has a volatility of 11.42%. This indicates that CXSE experiences smaller price fluctuations and is considered to be less risky than CQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXSE	CQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.12%	11.42%	-4.30%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	24.86%	-8.66%
Volatility (1Y) Calculated over the trailing 1-year period	22.58%	32.60%	-10.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.02%	38.19%	-6.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.80%	33.57%	-4.77%

CXSE vs. CQQQ - Expense Ratio Comparison

CXSE has a 0.32% expense ratio, which is lower than CQQQ's 0.70% expense ratio.

Dividends

CXSE vs. CQQQ - Dividend Comparison

CXSE's dividend yield for the trailing twelve months is around 1.49%, less than CQQQ's 2.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CQQQ Invesco China Technology ETF	2.18%	2.17%	0.28%	0.55%	0.08%	0.00%	0.47%	0.01%	0.43%	1.41%	1.69%	1.77%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	1.49%	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 CQQQ in my portfolio?

CXSE and CQQQ have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXSE or CQQQ?

CQQQ has higher volatility (11.42%) compared to CXSE (7.12%). In terms of maximum drawdown, CXSE dropped -70.01% vs CQQQ's -73.99%.

Which ETF is better, CXSE or CQQQ?

On 10-year performance, CXSE leads with 6.52% vs 4.42% for CQQQ. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXSE or CQQQ?

Over the 10-year period, CXSE has performed better with a 6.52% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXSE or CQQQ?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.70% for CQQQ.

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

CQQQ has the higher dividend yield at 2.18%, compared with 1.49% for CXSE.

What is the main difference between CXSE and CQQQ?

CXSE tracks WisdomTree China ex-State-Owned Enterprises Index, while CQQQ tracks FTSE China Incl A 25% Technology Capped Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.32% for CXSE and 0.70% for CQQQ.

Which has better risk-adjusted returns?

CQQQ currently has the higher Sharpe Ratio (0.38 vs 0.30), 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.