AEVA vs. QBTS

Last updated Jul 14, 2026

AEVA (Aeva Technologies, Inc.) and QBTS (D-Wave Quantum Inc) are both stocks. AEVA operates in Auto Parts (Consumer Cyclical), while QBTS operates in Computer Hardware (Technology). Over the past 3 years, AEVA returned 42.87%/yr vs 103.94%/yr for QBTS. At a 0.31 correlation, their price movements are largely independent.

Performance

AEVA vs. QBTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aeva Technologies, Inc. (AEVA) and D-Wave Quantum Inc (QBTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEVA achieves a 41.64% return, which is significantly higher than QBTS's -28.64% return.

AEVA

• 1D: -10.39%
• 1M: -24.43%
• 6M: -1.52%
• YTD: 41.64%
• 1Y: -27.93%
• 3Y*: 42.87%
• 5Y*: -17.79%
• 10Y*: —

QBTS

• 1D: -7.12%
• 1M: -20.15%
• 6M: -35.21%
• YTD: -28.64%
• 1Y: 26.00%
• 3Y*: 103.94%
• 5Y*: —
• 10Y*: —

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

AEVA vs. QBTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AEVA Aeva Technologies, Inc.	41.64%	179.58%	25.38%	-44.29%	-70.43%
QBTS D-Wave Quantum Inc	-28.64%	211.31%	854.44%	-38.88%	-83.96%

Correlation

The correlation between AEVA and QBTS is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022	0.31

Over the past year, AEVA and QBTS have become more correlated (0.58) than their long-term average of 0.31, meaning their price movements have been converging.

Fundamentals

Market Cap AEVA : $1.27B QBTS : $6.86B
EPS AEVA : -$2.48 QBTS : -$1.04
PS Ratio AEVA : 52.55 QBTS : 531.13
Total Revenue (TTM) AEVA : $20.97M QBTS : $12.44M
Gross Profit (TTM) AEVA : $971.00K QBTS : $8.25M
EBITDA (TTM) AEVA : $21.17M QBTS : -$399.03M

Return for Risk

AEVA vs. QBTS — Risk / Return Rank

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

AEVA

AEVA Risk / Return Rank: 38
AEVA Sharpe Ratio Rank: 34
AEVA Sortino Ratio Rank: 45
AEVA Omega Ratio Rank: 43
AEVA Calmar Ratio Rank: 32
AEVA Martin Ratio Rank: 35

QBTS

QBTS Risk / Return Rank: 57
QBTS Sharpe Ratio Rank: 55
QBTS Sortino Ratio Rank: 65
QBTS Omega Ratio Rank: 59
QBTS Calmar Ratio Rank: 55
QBTS Martin Ratio Rank: 53

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.

AEVA vs. QBTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aeva Technologies, Inc. (AEVA) and D-Wave Quantum Inc (QBTS). 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.

	AEVA	QBTS	Difference
Sharpe ratio: Return per unit of total volatility	-0.25	0.24	-0.48
Sortino ratio: Return per unit of downside risk	0.42	1.24	-0.82
Omega ratio: Gain probability vs. loss probability	1.05	1.13	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.39	0.37	-0.76
Martin ratio: Return relative to average drawdown	-0.56	0.61	-1.17

AEVA vs. QBTS - Sharpe Ratio Comparison

The current AEVA Sharpe Ratio is -0.25, which is lower than the QBTS Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of AEVA and QBTS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AEVA vs. QBTS - Drawdown Comparison

The maximum AEVA drawdown since its inception was -97.71%, roughly equal to the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for AEVA and QBTS.

Drawdown Indicators

	AEVA	QBTS	Difference
Max Drawdown Largest peak-to-trough decline	-97.71%	-96.67%	-1.04%
Max Drawdown (1Y) Largest decline over 1 year	-71.49%	-71.01%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-75.68%	-79.17%	+3.49%
Max Drawdown (5Y) Largest decline over 5 years	-95.61%	—	—
Current Drawdown Current decline from peak	-81.19%	-58.33%	-22.86%
Average Drawdown Average peak-to-trough decline	-70.72%	-65.34%	-5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.09%	42.79%	+7.30%

Volatility

AEVA vs. QBTS - Volatility Comparison

Aeva Technologies, Inc. (AEVA) has a higher volatility of 41.46% compared to D-Wave Quantum Inc (QBTS) at 24.70%. This indicates that AEVA's price experiences larger fluctuations and is considered to be riskier than QBTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEVA	QBTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.46%	24.70%	+16.76%
Volatility (6M) Calculated over the trailing 6-month period	80.15%	73.85%	+6.30%
Volatility (1Y) Calculated over the trailing 1-year period	114.52%	109.96%	+4.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	98.38%	150.05%	-51.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.12%	150.05%	-57.93%

Dividends

AEVA vs. QBTS - Dividend Comparison

Neither AEVA nor QBTS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both AEVA and QBTS in my portfolio?

AEVA and QBTS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEVA or QBTS?

AEVA has higher volatility (41.46%) compared to QBTS (24.70%). In terms of maximum drawdown, AEVA dropped -97.71% vs QBTS's -96.67%.

Which has better risk-adjusted returns?

QBTS currently has the higher Sharpe Ratio (0.24 vs -0.25), 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.