CQQQ
Invesco China Technology ETF
Invesco China Technology ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the AlphaShares China Technology Index. The ETF holds technology stocks of all cap sizes. Its investments are focused in communication and technology companies. The ETF weights the holdings using market capitalization methodology.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
70 bp
EXPENSES
$611.1 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Guggenheim |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 08, 2009 |
| Assets (mns) | $611 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TENCENT HOLDINGS LTD | 10.0 % |
| MEITUAN DIANPING | 8.5 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 8.3 % |
| BAIDU, INC. CLASS A | 7.0 % |
| KUAISHOU TECHNOLOGY CLASS B | 5.5 % |
| BILIBILI, INC. CLASS Z | 4.0 % |
| SUNNY OPTICAL TECH | 3.5 % |
| KINGSOFT CORP LTD | 2.1 % |
| KINGDEE INTERNATIONAL SFTWR | 2.1 % |
| HYGON INFORMATION TECHNOLOGY CO., LTD. C | 1.6 % |
Constituent Breakdown
| Number of holdings | 58 |
| Herfindahl-Hirschman Index | 1,188 |
| Wgt avg mkt cap (mns) | $75,856 |
| Large cap (>$10bn) | 60.0% |
| Mid cap ($2-10bn) | 36.0% |
| Small cap (<$2bn) | 4.1% |
| Developed mkts. | 32.5% |
| Emerging mkts. | 67.5% |
Country Exposure
 |
CHINA | 70.0 % |
 |
HONG KONG | 1.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -7.8% | -16.0% | -18.7% | -26.6% | -5.9% | -0.3% | 2.7% | Volatility | 32.1% | 30.1% | 34.2% | 38.9% | 36.1% | 31.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.50 | 7% |
| MSCI EAFE | 0.95 | 22% |
| MSCI Emg Mkts | 1.58 | 62% |
Liquidity Measures
| Avg. volume (000) | 166 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $4,126 |
Technical Indicators
| Recent close | $32.40 |
| 30d moving avg. | $34.19 |
| Annualized volatility | 35.4% |
| Relative strength (RSI) | 54 |
| Short interest (ETF) | 2.3% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. CQQQ |
Expenses vs. CQQQ |
ALTAR Score™ vs. CQQQ |
|---|---|---|---|---|
| KWEB | KraneShares CSI China Internet ETF | 39.6% | -1 bp | +6.1% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 34.7% | -1 bp | +2.9% |
| CGRO | CoreValues Alpha Greater China Growth ETF | 30.7% | +5 bp | +6.9% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 28.8% | +16 bp | +9.0% |
| FDNI | First Trust Dow Jones International Internet ETF | 28.7% | -5 bp | +9.9% |
| TCHI | iShares MSCI China Multisector Tech ETF | 27.1% | -11 bp | +9.1% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 25.3% | -38 bp | +13.7% |
| MCH | Matthews China Active ETF | 22.8% | +9 bp | +13.3% |
| FXI | iShares China Large-Cap ETF | 22.6% | +4 bp | +16.6% |
| MCHI | iShares MSCI China ETF | 21.8% | -11 bp | +16.0% |
Risk and Returns: CQQQ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
CQQQ
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
CQQQ
-6.9%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -6.9% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. CQQQ's ALTAR Score™ is approximately
3.7 standard deviations
below
the category average. This places CQQQ in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CQQQ
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| CQQQ (70 bp) Percentile rank | 77 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CQQQ | 70.0 | 21.5 | 91.5 |
| Peer Avg. | 56.1 | 21.3 | 77.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .