CNQQ vs SPY
Rayliant-ChinaAMC Transformative China Tech ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CNQQ or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 44.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CNQQ | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $40M | $823.2B |
| Dividend Yield | 0.55% | 0.99% |
| Holdings | 204 | 1,515 |
| YTD Return | -15.61% | +13.53%Best |
| 1Y Return | -13.83% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 21.3% | 12.6%Best |
| Max Drawdown | -24.5% | -8.9%Best |
| $10,000 over 1 years | $8,275 | $11,666Best |
| Top 10 Weight | 44.0% | 38.2%Best |
| Fund Family | Rayliant Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 25, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Sep 26, 2025 to Oct 14, 2026 (1 years).
CNQQ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1 years both funds cover.
CNQQ vs SPY Performance
Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) is an ETF from Rayliant Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CNQQ returned -13.83% while SPY returned +17.47%. Year to date, CNQQ is down 15.61% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CNQQ has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 12.6% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -24.5% for CNQQ and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CNQQ charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, CNQQ currently yields 0.55% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 100 holdings in CNQQ and 504 in SPY, totalling 99.5% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 100 positions we hold weights for in CNQQ and 504 in SPY, against full books of 204 and 1,515.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for CNQQ (99.1% of the fund), and 0 for CNQQ that do not appear in SPY (0.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of CNQQ and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CNQQ or SPY?
CNQQ has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, CNQQ or SPY?
Over the past year CNQQ returned -13.83% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), CNQQ annualized -17.25% vs +16.66% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CNQQ or SPY?
CNQQ has been the more volatile fund at 21.3% annualized versus 12.6% for SPY. Worst drawdown: CNQQ -24.5% vs SPY -8.9%.
Should I hold both CNQQ and SPY?
CNQQ and SPY have a monthly-return correlation of 0.61, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CNQQ or SPY?
CNQQ yields 0.55% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than CNQQ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 44.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.