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ECNS vs. CQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECNS vs. CQQQ

Last updated Jun 23, 2026

ECNS (iShares MSCI China Small-Cap ETF) and CQQQ (Invesco China Technology ETF) are both exchange-traded funds - ECNS is a Asia Pacific Equities fund tracking the MSCI China Small Cap Index, while CQQQ is a China Equities fund tracking the FTSE China Incl A 25% Technology Capped Index. Both are passively managed. Over the past 10 years, ECNS returned 1.74%/yr vs 6.15%/yr for CQQQ. A 0.74 correlation means they provide meaningful diversification when combined. ECNS charges 0.59%/yr vs 0.70%/yr for CQQQ.

Performance

ECNS vs. CQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Small-Cap ETF (ECNS) and Invesco China Technology ETF (CQQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ECNS achieves a -8.11% return, which is significantly lower than CQQQ's 5.94% return. Over the past 10 years, ECNS has underperformed CQQQ with an annualized return of 1.74%, while CQQQ has yielded a comparatively higher 6.15% annualized return.

ECNS

1D
0.38%
1M
-4.88%
YTD
-8.11%
6M
-9.36%
1Y
5.33%
3Y*
7.60%
5Y*
-7.59%
10Y*
1.74%

CQQQ

1D
0.02%
1M
4.40%
YTD
5.94%
6M
6.31%
1Y
34.10%
3Y*
12.46%
5Y*
-7.05%
10Y*
6.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ECNS vs. CQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ECNS
iShares MSCI China Small-Cap ETF		-8.11%36.49%5.64%-23.05%-24.58%2.11%25.42%7.84%-18.27%27.55%
CQQQ
Invesco China Technology ETF		5.94%34.96%9.84%-16.71%-30.09%-24.54%57.33%33.57%-34.77%74.31%

Correlation

The correlation between ECNS and CQQQ is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.68

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (10Y)
Calculated over the trailing 10-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2010

0.74

The correlation between ECNS and CQQQ shifts across timeframes, from 0.68 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

ECNS vs. CQQQ - Sectors Allocation Comparison

Sectors
ECNS
CQQQ

Healthcare

19.9%

-

Industrials

18.0%
1.3%

Technology

12.6%
61.0%

Consumer Cyclical

9.3%
13.0%

Real Estate

8.7%

-

Basic Materials

8.4%
0.1%

Communication Services

6.5%
20.6%

Financial Services

4.6%
8.5%

Consumer Defensive

4.2%

-

Energy

3.2%

-

Utilities

2.4%

-

Healthcare

ECNS
19.9%
CQQQ

-

Industrials

ECNS
18.0%
CQQQ
1.3%

Technology

ECNS
12.6%
CQQQ
61.0%

Consumer Cyclical

ECNS
9.3%
CQQQ
13.0%

Real Estate

ECNS
8.7%
CQQQ

-

Basic Materials

ECNS
8.4%
CQQQ
0.1%

Communication Services

ECNS
6.5%
CQQQ
20.6%

Financial Services

ECNS
4.6%
CQQQ
8.5%

Consumer Defensive

ECNS
4.2%
CQQQ

-

Energy

ECNS
3.2%
CQQQ

-

Utilities

ECNS
2.4%
CQQQ

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI China Small-Cap ETF

Invesco China Technology ETF

Often compared with ECNS:
ECNS vs. ASHSECNS vs. MCHIECNS vs. CNXTECNS vs. DFAEECNS vs. FLCHECNS vs. EWTECNS vs. SCHF
Often compared with CQQQ:
CQQQ vs. KWEBCQQQ vs. MCHICQQQ vs. FXICQQQ vs. TCHICQQQ vs. VOOCQQQ vs. PGJCQQQ vs. CWEB

Return for Risk

ECNS vs. CQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ECNS
ECNS Risk / Return Rank: 1111
Overall Rank
ECNS Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
ECNS Sortino Ratio Rank: 1111
Sortino Ratio Rank
ECNS Omega Ratio Rank: 1212
Omega Ratio Rank
ECNS Calmar Ratio Rank: 1111
Calmar Ratio Rank
ECNS Martin Ratio Rank: 1111
Martin Ratio Rank
CQQQ
CQQQ Risk / Return Rank: 3030
Overall Rank
CQQQ Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
CQQQ Sortino Ratio Rank: 3333
Sortino Ratio Rank
CQQQ Omega Ratio Rank: 3131
Omega Ratio Rank
CQQQ Calmar Ratio Rank: 2929
Calmar Ratio Rank
CQQQ Martin Ratio Rank: 2525
Martin Ratio Rank
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.

ECNS vs. CQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) 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.

ECNSCQQQDifference
Sharpe ratioReturn per unit of total volatility
0.26
1.12

-0.86

Sortino ratioReturn per unit of downside risk
0.48
1.70

-1.22

Omega ratioGain probability vs. loss probability

1.06

1.21

-0.14

Calmar ratioReturn relative to maximum drawdown

0.25

1.40

-1.15

Martin ratioReturn relative to average drawdown

0.53

3.21

-2.68

ECNS vs. CQQQ - Sharpe Ratio Comparison

The current ECNS Sharpe Ratio is 0.26, which is lower than the CQQQ Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of ECNS 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.

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Drawdowns

ECNS vs. CQQQ - Drawdown Comparison

The maximum ECNS drawdown since its inception was -63.43%, smaller than the maximum CQQQ drawdown of -73.99%. Use the drawdown chart below to compare losses from any high point for ECNS and CQQQ.

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Drawdown Indicators

ECNSCQQQDifference

Max Drawdown

Largest peak-to-trough decline

-63.43%

-73.99%

+10.56%

Max Drawdown (1Y)

Largest decline over 1 year

-21.48%

-24.41%

+2.93%

Max Drawdown (3Y)

Largest decline over 3 years

-31.72%

-35.93%

+4.21%

Max Drawdown (5Y)

Largest decline over 5 years

-59.61%

-66.96%

+7.35%

Max Drawdown (10Y)

Largest decline over 10 years

-63.43%

-73.99%

+10.56%

Current Drawdown

Current decline from peak

-40.85%

-47.45%

+6.60%

Average Drawdown

Average peak-to-trough decline

-29.41%

-28.35%

-1.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.14%

10.66%

-0.52%

Volatility

ECNS vs. CQQQ - Volatility Comparison

The current volatility for iShares MSCI China Small-Cap ETF (ECNS) is 5.50%, while Invesco China Technology ETF (CQQQ) has a volatility of 10.52%. This indicates that ECNS 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.

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Volatility by Period

ECNSCQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.50%

10.52%

-5.02%

Volatility (6M)

Calculated over the trailing 6-month period

13.46%

23.15%

-9.69%

Volatility (1Y)

Calculated over the trailing 1-year period

20.63%

30.57%

-9.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.43%

38.15%

-8.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.91%

33.39%

-7.48%

ECNS vs. CQQQ - Expense Ratio Comparison

ECNS has a 0.59% expense ratio, which is lower than CQQQ's 0.70% expense ratio.

Dividends

ECNS vs. CQQQ - Dividend Comparison

ECNS's dividend yield for the trailing twelve months is around 6.40%, more than CQQQ's 2.04% yield.

PositionTTM20252024202320222021202020192018201720162015
CQQQ
Invesco China Technology ETF		2.04%2.17%0.28%0.55%0.08%0.00%0.47%0.01%0.43%1.41%1.69%1.77%
ECNS
iShares MSCI China Small-Cap ETF		6.40%6.20%5.98%4.89%3.54%4.87%3.59%3.23%6.16%3.18%4.29%3.58%

Frequently Asked Questions

ECNS and CQQQ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CQQQ has higher volatility (10.52%) compared to ECNS (5.50%). In terms of maximum drawdown, ECNS dropped -63.43% vs CQQQ's -73.99%.

On 10-year performance, CQQQ leads with 6.15% vs 1.74% for ECNS. On fees, ECNS is cheaper at 0.59% per year. On volatility, ECNS has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, CQQQ has performed better with a 6.15% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ECNS is cheaper with a 0.59% expense ratio, compared with 0.70% for CQQQ.

ECNS has the higher dividend yield at 6.40%, compared with 2.04% for CQQQ.

ECNS is categorized as Asia Pacific Equities, while CQQQ is China Equities. ECNS tracks MSCI China Small Cap Index, while CQQQ tracks FTSE China Incl A 25% Technology Capped Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for ECNS and 0.70% for CQQQ.

CQQQ currently has the higher Sharpe Ratio (1.12 vs 0.26), 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.

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