^SP100 vs. QQQ

Last updated Jun 5, 2026

^SP100 (S&P 100 Index) is an index, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ^SP100 returned 14.96%/yr vs 21.84%/yr for QQQ. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

^SP100 vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 100 Index (^SP100) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^SP100 achieves a 9.46% return, which is significantly lower than QQQ's 20.71% return. Over the past 10 years, ^SP100 has underperformed QQQ with an annualized return of 14.96%, while QQQ has yielded a comparatively higher 21.84% annualized return.

^SP100

• 1D: 0.35%
• 1M: 4.77%
• YTD: 9.46%
• 6M: 9.14%
• 1Y: 28.71%
• 3Y*: 23.43%
• 5Y*: 14.42%
• 10Y*: 14.96%

QQQ

• 1D: -0.48%
• 1M: 8.66%
• YTD: 20.71%
• 6M: 19.19%
• 1Y: 40.74%
• 3Y*: 28.54%
• 5Y*: 17.86%
• 10Y*: 21.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^SP100 vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SP100 S&P 100 Index	9.46%	18.76%	29.25%	30.83%	-22.12%	27.55%	19.30%	29.47%	-5.86%	19.34%
QQQ Invesco QQQ ETF	20.71%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between ^SP100 and QQQ is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 11, 1999	0.87

The correlation between ^SP100 and QQQ has been stable across timeframes, ranging from 0.87 to 0.96 - a consistent structural relationship.

Return for Risk

^SP100 vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^SP100

^SP100 Risk / Return Rank: 73
^SP100 Sharpe Ratio Rank: 78
^SP100 Sortino Ratio Rank: 78
^SP100 Omega Ratio Rank: 78
^SP100 Calmar Ratio Rank: 62
^SP100 Martin Ratio Rank: 71

QQQ

QQQ Risk / Return Rank: 74
QQQ Sharpe Ratio Rank: 80
QQQ Sortino Ratio Rank: 76
QQQ Omega Ratio Rank: 75
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^SP100 vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 100 Index (^SP100) and Invesco QQQ ETF (QQQ). 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.

	^SP100	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.57	-0.29
Sortino ratio: Return per unit of downside risk	3.10	3.37	-0.27
Omega ratio: Gain probability vs. loss probability	1.41	1.44	-0.03
Calmar ratio: Return relative to maximum drawdown	2.55	3.42	-0.87
Martin ratio: Return relative to average drawdown	10.65	13.14	-2.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SP100 vs. QQQ - Sharpe Ratio Comparison

The current ^SP100 Sharpe Ratio is 2.27, which is comparable to the QQQ Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of ^SP100 and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^SP100	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	2.57	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.80	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.98	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.41	+0.14

Drawdowns

^SP100 vs. QQQ - Drawdown Comparison

The maximum ^SP100 drawdown since its inception was -61.31%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for ^SP100 and QQQ.

Drawdown Indicators

	^SP100	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-61.31%	-82.97%	+21.66%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-11.96%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-22.77%	+2.88%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-35.12%	+7.89%
Max Drawdown (10Y) Largest decline over 10 years	-31.53%	-35.12%	+3.59%
Current Drawdown Current decline from peak	-0.68%	-0.74%	+0.06%
Average Drawdown Average peak-to-trough decline	-12.67%	-32.78%	+20.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	3.11%	-0.41%

Volatility

^SP100 vs. QQQ - Volatility Comparison

The current volatility for S&P 100 Index (^SP100) is 3.23%, while Invesco QQQ ETF (QQQ) has a volatility of 4.51%. This indicates that ^SP100 experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^SP100	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	4.51%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	12.10%	-2.58%
Volatility (1Y) Calculated over the trailing 1-year period	12.68%	15.94%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	22.37%	-4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	22.29%	-3.82%

Frequently Asked Questions

Can I hold both ^SP100 and QQQ in my portfolio?

With a correlation of 0.95, ^SP100 and QQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ^SP100 or QQQ?

QQQ has higher volatility (4.51%) compared to ^SP100 (3.23%). In terms of maximum drawdown, ^SP100 dropped -61.31% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.57 vs 2.27), 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.