KWEB vs CQQQ: Holdings Overlap
KWEBKraneShares CSI China Internet ETF
KraneShares · 31 holdings · $5.7B · as of 2026-03-31
CQQQInvesco China Technology ETF
Invesco · 173 holdings · $3.2B · as of 2026-04-30
Holdings snapshots are 30 days apart (KWEB: 2026-03-31, CQQQ: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are KWEB and CQQQ?
KraneShares CSI China Internet ETF (KWEB, by KraneShares) holds 31 positions; Invesco China Technology ETF (CQQQ, by Invesco) holds 173. They have 11 holdings in common, and by portfolio weight the two funds are 38.0% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 38.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 11KWEB holds 31 · CQQQ holds 173
- Weight in Shared Holdings
- KWEB 44%·CQQQ 43%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in KWEB
20 of 31 positions (55.8% of the fund) are not held by CQQQ.
Only in CQQQ
162 of 173 positions (57.1% of the fund) are not held by KWEB. Showing the top 30 by weight.
Sector Breakdown
| Sector | KWEB | CQQQ |
|---|---|---|
| Consumer Discretionary | 39.5% | 17.1% |
| Communication Services | 29.3% | 23.3% |
| Information Technology | 0.0% | 28.3% |
| Real Estate | 4.3% | 0.0% |
| Consumer Staples | 4.0% | 0.0% |
| Other Sectors | 3.6% | 0.0% |
| Unclassified | 19.2% | 31.3% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (19% of KWEB, 31% of CQQQ).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| KWEB | +12.3% | -15.8% | -15.2% | +2.0% | -6.7% | +0.1% | 7.31% |
| CQQQ | -1.6% | +2.1% | +13.8% | +8.9% | -4.9% | +4.7% | 2.12% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in KWEB vs CQQQ →
Shared Holdings(11)
The top 10 shared positions account for 99% of the overlap, led by PDD, 700 and 3690.
 PDDPDD Holdings Inc. SPONSORED ADS | 8.78% | 8.48% | 8.48% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 10.09% | 8.41% | 8.41% |
 3690Meituan, B Shares | 7.36% | 8.59% | 7.36% |
 9888Baidu, Inc., A Shares | 4.28% | 6.85% | 4.28% |
 1024Kuaishou Technology | 3.33% | 4.28% | 3.33% |
 9626Bilibili Inc., Z Shares | 3.17% | 2.20% | 2.20% |
 TMETencent Music Entertainment Group SPON ADS | 2.50% | 1.58% | 1.58% |
 3888Kingsoft Corp. Ltd. | 1.82% | 1.03% | 1.03% |
 JOYYJOYY Inc. ADS REPSTG COM A | 1.04% | 0.54% | 0.54% |
 C2XChina Literature Ltd. | 0.98% | 0.45% | 0.45% |
 ATHMAutohome Inc. SP ADS RP CL A | 0.72% | 0.40% | 0.40% |
Frequently Asked Questions
How much do KWEB and CQQQ overlap?
KWEB and CQQQ overlap by 38.0% of portfolio weight. They share 11 holdings (KWEB holds 31 positions and CQQQ holds 173), based on each fund's latest SEC-reported holdings.
Is it redundant to own both KWEB and CQQQ?
The two portfolios are 38.0% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of KWEB and CQQQ?
The largest positions held by both funds are PDD, 700, 3690, 9888 and 1024. Together the top 10 shared positions account for 99% of the total overlap.
What does KWEB own that CQQQ doesn't?
20 positions (55.8% of KWEB) are unique to KWEB, led by 9988, 9999 and 9618. In the other direction, 162 positions (57.1% of CQQQ) are unique to CQQQ.