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. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 45.1%.
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 | $47M | $804.7B |
| Dividend Yield | 0.49% | 0.98% |
| Holdings | 105 | 505 |
| YTD Return | -7.13% | +12.47%Best |
| 1Y Return | -9.76% | +17.51%Best |
| 3Y Return (annualized) | - | +21.18% |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 21.0% | 13.2%Best |
| Top 10 Weight | 45.1% | 38.0%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 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
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 -9.76% while SPY returned +17.51%. Year to date, CNQQ is down 7.13% versus a gain of 12.47% 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 21.0% compared with 13.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.62. 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 0.49% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 100 holdings in CNQQ and 504 in SPY, totalling 99.5% and 100.0% 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 105 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for CNQQ (99.5% 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 -9.76% vs +17.51% for SPY, so SPY leads on 1-year performance. 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 21.0% annualized versus 13.2% for SPY.
Should I hold both CNQQ and SPY?
CNQQ and SPY have a monthly-return correlation of 0.62, 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 0.49% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than CNQQ?
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 45.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.