^DWMI vs. QQQM
^DWMI (Dow Jones U.S. Micro-Cap Total Stock Market Index) is an index, while QQQM (Invesco NASDAQ 100 ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, ^DWMI returned -1.32%/yr vs 14.31%/yr for QQQM. Their 0.63 correlation means they have sometimes moved together and sometimes differently.
Performance
^DWMI vs. QQQM - Performance Comparison
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Returns By Period
In the year-to-date period, ^DWMI achieves a 5.19% return, which is significantly lower than QQQM's 12.29% return.
^DWMI
- 1D
- -0.46%
- 1M
- -7.46%
- 6M
- 1.84%
- YTD
- 5.19%
- 1Y
- 22.02%
- 3Y*
- 10.21%
- 5Y*
- -1.32%
- 10Y*
- 6.25%
- ALL TIME*
- 4.53%
QQQM
- 1D
- 0.69%
- 1M
- -3.45%
- 6M
- 10.92%
- YTD
- 12.29%
- 1Y
- 24.86%
- 3Y*
- 22.37%
- 5Y*
- 14.31%
- 10Y*
- —
- ALL TIME*
- 16.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $962.22M | $908.74M | $1.19B |
^DWMI vs. QQQM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
^DWMI Dow Jones U.S. Micro-Cap Total Stock Market Index | 5.19% | 12.68% | 13.53% | 7.36% | -29.88% | 9.37% | 21.19% |
QQQM Invesco NASDAQ 100 ETF | 12.29% | 20.85% | 25.68% | 55.01% | -32.52% | 27.45% | 6.64% |
Correlation
The correlation between ^DWMI and QQQM is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020 | 0.63 |
The correlation between ^DWMI and QQQM has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
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Return for Risk
^DWMI vs. QQQM — Risk / Return Rank
^DWMI
QQQM
^DWMI vs. QQQM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Jones U.S. Micro-Cap Total Stock Market Index (^DWMI) and Invesco NASDAQ 100 ETF (QQQM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^DWMI | QQQM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.21 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.88 | -0.44 |
| Martin ratioReturn relative to average drawdown | 3.83 | 6.01 | -2.18 |
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Drawdowns
^DWMI vs. QQQM - Drawdown Comparison
The maximum ^DWMI drawdown since its inception was -66.10%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for ^DWMI and QQQM.
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Drawdown Indicators
| ^DWMI | QQQM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.10% | -35.04% | -31.06% |
Max Drawdown (1Y)Largest decline over 1 year | -13.56% | -11.96% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -27.06% | -22.70% | -4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -47.65% | -35.04% | -12.61% |
Max Drawdown (10Y)Largest decline over 10 years | -51.66% | — | — |
Current DrawdownCurrent decline from peak | -19.33% | -7.69% | -11.64% |
Average DrawdownAverage peak-to-trough decline | -19.94% | -8.15% | -11.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.10% | 3.74% | +1.36% |
Volatility
^DWMI vs. QQQM - Volatility Comparison
The current volatility for Dow Jones U.S. Micro-Cap Total Stock Market Index (^DWMI) is 6.41%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 6.83%. This indicates that ^DWMI experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^DWMI | QQQM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 6.83% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 17.80% | 15.91% | +1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.05% | 19.24% | +4.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.00% | 22.74% | +1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.56% | 22.32% | +2.24% |
Frequently Asked Questions
^DWMI and QQQM have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQM has higher volatility (6.83%) compared to ^DWMI (6.41%). In terms of maximum drawdown, ^DWMI dropped -66.10% vs QQQM's -35.04%.
QQQM currently has the higher Sharpe Ratio (1.17 vs 0.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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