CNQQ vs CXSE

CNQQDRayliant-ChinaAMC Transformative China Tech ETF

CXSEAWisdomTree China ex-State-Owned Enterprises Fund

In short

CNQQ A thematic slice of China tech instead of the whole market: CNQQ tracks a Solactive index built with ChinaAMC around companies driving China's tech transformation, across mainland China and Hong Kong.

CXSE CXSE tracks an index that screens state-owned enterprises out of China, leaving the privately run companies. A tilt toward entrepreneurs rather than Beijing's balance sheet, at a fee well under the typical China fund.

Stated mandate

CNQQ The Fund seeks to track, before fees and expenses, the Solactive ChinaAMC Transformative China Tech Index.

CXSE The Fund seeks to track, before fees and expenses, the price and yield performance of the WisdomTree China ex-State-Owned Enterprises Index.

Why people hold it

• CNQQ Not another all-of-China index fund. It follows the Solactive ChinaAMC Transformative China Tech Index, a rules-based screen pointed at China's tech transformers.
• Passive by design: the index picks the holdings, not a manager's conviction, so the rulebook you own is published rather than discretionary.
• A US-listed 1940 Act fund giving mainland China and Hong Kong equity exposure in dollars, with distributions paid quarterly.

• CXSE The whole design is one screen: state-controlled companies out, privately run ones in, about 200 of them. Not a broad China index with a tweak.
• 0.32% a year, well under half the 0.70% median for single-country China funds.
• Trading since 2012, and one of the tighter, more faithful builds in a crowded China cohort.

Worth knowing

• CNQQ At 0.75%, it sits above the median fee for China single-country funds. Broad alternatives cost far less: FLCH at 0.19%, JCHI at 0.15%.
• A small, lightly traded fund, so spreads and premiums or discounts can run wider than at the category's household names.
• It launched in September 2025, so the record of how closely it hugs its index is still short, and a concentrated tech theme moves harder than broad China exposure.

• CXSE Thinly traded next to China heavyweights like MCHI and GXC, so limit orders matter more here.
• One country, about 200 stocks, and none of the state-backed heavyweights as ballast. Swings run bigger than a diversified global fund's.
• Cheap for the group, not the cheapest: FLCH (0.19%) and JCHI (0.15%) undercut it with different mandates.

Full CNQQ profile⁠

Full CXSE profile⁠