RAYJ vs. CNQQ
RAYJ (Rayliant SMDAM Japan Equity ETF) and CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) are both exchange-traded funds - RAYJ is a Japan Equities fund actively managed by Rayliant, while CNQQ is a China Equities fund tracking the Solactive ChinaAMC Transformative China Tech. RAYJ is actively managed, while CNQQ is passively managed. At a 0.42 correlation, their price movements are largely independent. RAYJ charges 0.72%/yr vs 0.75%/yr for CNQQ.
Performance
RAYJ vs. CNQQ - Performance Comparison
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Returns By Period
In the year-to-date period, RAYJ achieves a 23.45% return, which is significantly higher than CNQQ's 12.03% return.
RAYJ
- 1D
- -0.91%
- 1M
- 3.88%
- YTD
- 23.45%
- 6M
- 20.56%
- 1Y
- 33.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CNQQ
- 1D
- 0.38%
- 1M
- 7.11%
- YTD
- 12.03%
- 6M
- 12.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RAYJ vs. CNQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RAYJ Rayliant SMDAM Japan Equity ETF | 23.45% | 0.73% |
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 12.03% | -5.96% |
Correlation
The correlation between RAYJ and CNQQ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025 | 0.42 |
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Return for Risk
RAYJ vs. CNQQ — Risk / Return Rank
RAYJ
CNQQ
RAYJ vs. CNQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rayliant SMDAM Japan Equity ETF (RAYJ) 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.
| RAYJ | CNQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.26 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | — | — |
| Martin ratioReturn relative to average drawdown | 7.78 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RAYJ | CNQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.12 | 0.33 | +0.80 |
Drawdowns
RAYJ vs. CNQQ - Drawdown Comparison
The maximum RAYJ drawdown since its inception was -15.96%, smaller than the maximum CNQQ drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for RAYJ and CNQQ.
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Drawdown Indicators
| RAYJ | CNQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -17.82% | +1.86% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | — | — |
Current DrawdownCurrent decline from peak | -3.14% | -1.09% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -9.19% | +5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | — | — |
Volatility
RAYJ vs. CNQQ - Volatility Comparison
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Volatility by Period
| RAYJ | CNQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 18.28% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.24% | 24.37% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.76% | 24.37% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.76% | 24.37% | -1.61% |
RAYJ vs. CNQQ - Expense Ratio Comparison
RAYJ has a 0.72% expense ratio, which is lower than CNQQ's 0.75% expense ratio.
Dividends
RAYJ vs. CNQQ - Dividend Comparison
RAYJ's dividend yield for the trailing twelve months is around 1.39%, more than CNQQ's 0.23% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 0.23% | 0.09% | 0.00% |
RAYJ Rayliant SMDAM Japan Equity ETF | 1.39% | 1.72% | 0.78% |
Frequently Asked Questions
RAYJ and CNQQ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RAYJ is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RAYJ is cheaper with a 0.72% expense ratio, compared with 0.75% for CNQQ.
RAYJ has the higher dividend yield at 1.39%, compared with 0.23% for CNQQ.
RAYJ is categorized as Japan Equities, while CNQQ is China Equities. Their fees differ too: 0.72% for RAYJ and 0.75% for CNQQ.
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