^XNDX vs. QQQ
^XNDX (NASDAQ 100 Total Return Index) is an index, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ^XNDX returned 22.09%/yr vs 21.84%/yr for QQQ. With a 0.98 correlation, they move nearly in lockstep.
Performance
^XNDX vs. QQQ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ^XNDX having a 20.78% return and QQQ slightly lower at 20.71%. Both investments have delivered pretty close results over the past 10 years, with ^XNDX having a 22.09% annualized return and QQQ not far behind at 21.84%.
^XNDX
- 1D
- -0.52%
- 1M
- 8.63%
- YTD
- 20.78%
- 6M
- 19.27%
- 1Y
- 40.94%
- 3Y*
- 28.80%
- 5Y*
- 18.08%
- 10Y*
- 22.09%
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%
^XNDX vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^XNDX NASDAQ 100 Total Return Index | 20.78% | 21.02% | 25.88% | 55.13% | -32.38% | 27.51% | 48.88% | 39.46% | 0.04% | 32.99% |
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 ^XNDX and QQQ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2006 | 0.98 |
The correlation between ^XNDX and QQQ has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
^XNDX vs. QQQ — Risk / Return Rank
^XNDX
QQQ
^XNDX vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Total Return Index (^XNDX) 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.
| ^XNDX | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.44 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 3.42 | +0.05 |
| Martin ratioReturn relative to average drawdown | 13.43 | 13.14 | +0.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ^XNDX | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 2.57 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.80 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 0.98 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.41 | +0.34 |
Drawdowns
^XNDX vs. QQQ - Drawdown Comparison
The maximum ^XNDX drawdown since its inception was -53.42%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for ^XNDX and QQQ.
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Drawdown Indicators
| ^XNDX | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.42% | -82.97% | +29.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.85% | -11.96% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -22.82% | -22.77% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -35.04% | -35.12% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -35.04% | -35.12% | +0.08% |
Current DrawdownCurrent decline from peak | -0.80% | -0.74% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -32.78% | +25.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 3.11% | -0.05% |
Volatility
^XNDX vs. QQQ - Volatility Comparison
NASDAQ 100 Total Return Index (^XNDX) and Invesco QQQ ETF (QQQ) have volatilities of 4.54% and 4.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^XNDX | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 4.51% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.17% | 12.10% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.08% | 15.94% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.59% | 22.37% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.52% | 22.29% | +0.23% |
Frequently Asked Questions
With a correlation of 1.00, ^XNDX 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.
^XNDX has higher volatility (4.54%) compared to QQQ (4.51%). In terms of maximum drawdown, ^XNDX dropped -53.42% vs QQQ's -82.97%.
QQQ currently has the higher Sharpe Ratio (2.57 vs 2.56), 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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