ADJEX vs. QQQ

Last updated Jun 4, 2026

ADJEX (Azzad Ethical Fund) and QQQ (Invesco QQQ ETF) are both funds - ADJEX is a Mid Cap Growth Equities fund managed by Azzad Fund, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ADJEX returned 9.70%/yr vs 21.94%/yr for QQQ. Their correlation of 0.83 suggests significant overlap in exposure. ADJEX charges 0.99%/yr vs 0.18%/yr for QQQ.

Performance

ADJEX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azzad Ethical Fund (ADJEX) 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, ADJEX achieves a 12.03% return, which is significantly lower than QQQ's 21.30% return. Over the past 10 years, ADJEX has underperformed QQQ with an annualized return of 9.70%, while QQQ has yielded a comparatively higher 21.94% annualized return.

ADJEX

• 1D: 0.94%
• 1M: 7.67%
• YTD: 12.03%
• 6M: 8.57%
• 1Y: 14.78%
• 3Y*: 7.90%
• 5Y*: 3.59%
• 10Y*: 9.70%

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

ADJEX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADJEX Azzad Ethical Fund	12.03%	1.43%	1.70%	24.25%	-27.82%	17.60%	30.47%	30.01%	-3.25%	23.40%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between ADJEX and QQQ is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 1, 2000	0.83

The correlation between ADJEX and QQQ has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

ADJEX vs. QQQ — Risk / Return Rank

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

ADJEX

ADJEX Risk / Return Rank: 12
ADJEX Sharpe Ratio Rank: 12
ADJEX Sortino Ratio Rank: 12
ADJEX Omega Ratio Rank: 11
ADJEX Calmar Ratio Rank: 12
ADJEX Martin Ratio Rank: 12

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
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.

ADJEX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azzad Ethical Fund (ADJEX) 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.

	ADJEX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.64	-1.68
Sortino ratio: Return per unit of downside risk	1.41	3.45	-2.03
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	1.14	3.51	-2.37
Martin ratio: Return relative to average drawdown	3.63	13.49	-9.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADJEX vs. QQQ - Sharpe Ratio Comparison

The current ADJEX Sharpe Ratio is 0.95, which is lower than the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of ADJEX 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

	ADJEX	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	2.64	-1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.81	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.99	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.41	-0.10

Drawdowns

ADJEX vs. QQQ - Drawdown Comparison

The maximum ADJEX drawdown since its inception was -55.62%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for ADJEX and QQQ.

Drawdown Indicators

	ADJEX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-55.62%	-82.97%	+27.35%
Max Drawdown (1Y) Largest decline over 1 year	-14.38%	-11.96%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	-25.81%	-22.77%	-3.04%
Max Drawdown (5Y) Largest decline over 5 years	-37.22%	-35.12%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-37.22%	-35.12%	-2.10%
Current Drawdown Current decline from peak	-0.83%	-0.26%	-0.57%
Average Drawdown Average peak-to-trough decline	-12.54%	-32.79%	+20.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	3.11%	+1.40%

Volatility

ADJEX vs. QQQ - Volatility Comparison

Azzad Ethical Fund (ADJEX) and Invesco QQQ ETF (QQQ) have volatilities of 4.54% and 4.49%, 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.

Volatility by Period

	ADJEX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	4.49%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	12.10%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	15.94%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	22.38%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.50%	22.29%	-0.79%

ADJEX vs. QQQ - Expense Ratio Comparison

ADJEX has a 0.99% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

ADJEX vs. QQQ - Dividend Comparison

ADJEX has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADJEX Azzad Ethical Fund	0.00%	0.00%	5.47%	2.53%	0.06%	12.81%	5.62%	6.35%	6.37%	14.98%	0.09%	0.69%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both ADJEX and QQQ in my portfolio?

ADJEX and QQQ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADJEX or QQQ?

ADJEX has higher volatility (4.54%) compared to QQQ (4.49%). In terms of maximum drawdown, ADJEX dropped -55.62% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 0.95), 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.