FCA vs. CNQQ
FCA (First Trust China AlphaDEX Fund) and CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) are both China Equities funds - FCA tracks the NASDAQ AlphaDEX China Index while CNQQ tracks the Solactive ChinaAMC Transformative China Tech. Both are passively managed. Their 0.48 correlation means their historical movements had little consistent relationship. FCA charges 0.80%/yr vs 0.75%/yr for CNQQ.
Performance
FCA vs. CNQQ - Performance Comparison
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Returns By Period
In the year-to-date period, FCA achieves a -1.73% return, which is significantly lower than CNQQ's 1.50% return.
FCA
- 1D
- 0.13%
- 1M
- 2.89%
- 6M
- -13.34%
- YTD
- -1.73%
- 1Y
- 11.99%
- 3Y*
- 14.04%
- 5Y*
- 3.42%
- 10Y*
- 7.88%
- ALL TIME*
- 2.82%
CNQQ
- 1D
- 0.73%
- 1M
- -4.81%
- 6M
- -0.44%
- YTD
- 1.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $685.05K | $467.08K | $508.55K | |
| $167.08K | $290.49K | $1.96M |
FCA vs. CNQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FCA First Trust China AlphaDEX Fund | -1.73% | 2.07% |
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 1.50% | -5.22% |
Correlation
The correlation between FCA and CNQQ is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025 | 0.48 |
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Return for Risk
FCA vs. CNQQ — Risk / Return Rank
FCA
CNQQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FCA vs. CNQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) 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.
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.
| FCA | CNQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.09 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | — | — |
| Martin ratioReturn relative to average drawdown | 1.23 | — | — |
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Drawdowns
FCA vs. CNQQ - Drawdown Comparison
The maximum FCA drawdown since its inception was -45.56%, which is greater than CNQQ's maximum drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for FCA and CNQQ.
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Drawdown Indicators
| FCA | CNQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -17.82% | -27.74% |
Max Drawdown (1Y)Largest decline over 1 year | -24.11% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.47% | — | — |
Current DrawdownCurrent decline from peak | -19.71% | -12.07% | -7.64% |
Average DrawdownAverage peak-to-trough decline | -21.61% | -8.56% | -13.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.38% | — | — |
Volatility
FCA vs. CNQQ - Volatility Comparison
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Volatility by Period
| FCA | CNQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.02% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.46% | 27.77% | -4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.77% | 27.77% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.74% | 27.77% | -1.03% |
FCA vs. CNQQ - Expense Ratio Comparison
FCA has a 0.80% expense ratio, which is higher than CNQQ's 0.75% expense ratio.
Dividends
FCA vs. CNQQ - Dividend Comparison
FCA's dividend yield for the trailing twelve months is around 2.87%, more than CNQQ's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 0.39% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCA First Trust China AlphaDEX Fund | 2.87% | 2.67% | 5.17% | 5.70% | 6.00% | 4.91% | 4.12% | 3.73% | 3.10% | 2.30% | 2.51% | 4.13% |
Frequently Asked Questions
FCA and CNQQ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNQQ is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNQQ is cheaper with a 0.75% expense ratio, compared with 0.80% for FCA.
FCA has the higher dividend yield at 2.87%, compared with 0.39% for CNQQ.
FCA tracks NASDAQ AlphaDEX China Index, while CNQQ tracks Solactive ChinaAMC Transformative China Tech. They also come from different issuers: First Trust and Rayliant. Their fees differ too: 0.80% for FCA and 0.75% for CNQQ.
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