^SP100 vs. QQQ
^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 14.64%/yr vs 21.45%/yr for QQQ. Their correlation of 0.87 suggests significant overlap in exposure.
Performance
^SP100 vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, ^SP100 achieves a 8.64% return, which is significantly lower than QQQ's 18.38% return. Over the past 10 years, ^SP100 has underperformed QQQ with an annualized return of 14.64%, while QQQ has yielded a comparatively higher 21.45% annualized return.
^SP100
- 1D
- 0.54%
- 1M
- 2.29%
- 6M
- 7.61%
- YTD
- 8.64%
- 1Y
- 21.31%
- 3Y*
- 21.89%
- 5Y*
- 13.20%
- 10Y*
- 14.64%
QQQ
- 1D
- 0.31%
- 1M
- 0.69%
- 6M
- 16.05%
- YTD
- 18.38%
- 1Y
- 31.54%
- 3Y*
- 26.10%
- 5Y*
- 15.67%
- 10Y*
- 21.45%
^SP100 vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^SP100 S&P 100 Index | 8.64% | 18.76% | 29.25% | 30.83% | -22.12% | 27.55% | 19.30% | 29.47% | -5.86% | 19.34% |
QQQ Invesco QQQ ETF | 18.38% | 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 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
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 10, 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.
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Return for Risk
^SP100 vs. QQQ — Risk / Return Rank
^SP100
QQQ
^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.
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.
| ^SP100 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 2.62 | -0.75 |
| Martin ratioReturn relative to average drawdown | 7.25 | 9.43 | -2.18 |
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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.
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Drawdown Indicators
| ^SP100 | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -1.42% | -2.66% | +1.24% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -32.67% | +20.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 3.32% | -0.41% |
Volatility
^SP100 vs. QQQ - Volatility Comparison
The current volatility for S&P 100 Index (^SP100) is 4.54%, while Invesco QQQ ETF (QQQ) has a volatility of 8.71%. 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.
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Volatility by Period
| ^SP100 | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 8.71% | -4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.66% | 15.28% | -4.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.39% | 18.47% | -5.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.88% | 22.77% | -4.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.48% | 22.43% | -3.95% |
Frequently Asked Questions
With a correlation of 0.93, ^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.
QQQ has higher volatility (8.71%) compared to ^SP100 (4.54%). In terms of maximum drawdown, ^SP100 dropped -61.31% vs QQQ's -82.97%.
QQQ currently has the higher Sharpe Ratio (1.70 vs 1.58), 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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