ALVO vs. QQQH
ALVO (Alvotech) is a stock, while QQQH (NEOS Nasdaq-100 Hedged Equity Income ETF) is Nasdaq-100 fund managed by Neos. Over the past 3 years, ALVO returned -21.16%/yr vs 18.22%/yr for QQQH. At a 0.13 correlation, their price movements are largely independent.
Performance
ALVO vs. QQQH - Performance Comparison
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Returns By Period
In the year-to-date period, ALVO achieves a -27.88% return, which is significantly lower than QQQH's 5.59% return.
ALVO
- 1D
- 1.37%
- 1M
- 10.78%
- YTD
- -27.88%
- 6M
- -23.08%
- 1Y
- -59.47%
- 3Y*
- -21.16%
- 5Y*
- —
- 10Y*
- —
QQQH
- 1D
- -1.95%
- 1M
- -0.51%
- YTD
- 5.59%
- 6M
- 4.45%
- 1Y
- 16.40%
- 3Y*
- 18.22%
- 5Y*
- 8.22%
- 10Y*
- —
ALVO vs. QQQH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ALVO Alvotech | -27.88% | -61.22% | 15.24% | 14.80% | 5.26% |
QQQH NEOS Nasdaq-100 Hedged Equity Income ETF | 5.59% | 14.17% | 25.98% | 30.96% | -4.80% |
Correlation
The correlation between ALVO and QQQH is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2022 | 0.13 |
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Return for Risk
ALVO vs. QQQH — Risk / Return Rank
ALVO
QQQH
ALVO vs. QQQH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alvotech (ALVO) and NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH). 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.
| ALVO | QQQH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -3.28 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.29 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.37 | -3.23 |
| Martin ratioReturn relative to average drawdown | -1.30 | 9.89 | -11.19 |
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Drawdowns
ALVO vs. QQQH - Drawdown Comparison
The maximum ALVO drawdown since its inception was -82.63%, which is greater than QQQH's maximum drawdown of -31.24%. Use the drawdown chart below to compare losses from any high point for ALVO and QQQH.
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Drawdown Indicators
| ALVO | QQQH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.63% | -31.24% | -51.39% |
Max Drawdown (1Y)Largest decline over 1 year | -69.42% | -6.96% | -62.46% |
Max Drawdown (3Y)Largest decline over 3 years | -82.63% | -15.18% | -67.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.24% | — |
Current DrawdownCurrent decline from peak | -78.58% | -2.17% | -76.41% |
Average DrawdownAverage peak-to-trough decline | -37.58% | -8.22% | -29.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.79% | 1.66% | +44.13% |
Volatility
ALVO vs. QQQH - Volatility Comparison
Alvotech (ALVO) has a higher volatility of 30.87% compared to NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH) at 5.21%. This indicates that ALVO's price experiences larger fluctuations and is considered to be riskier than QQQH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALVO | QQQH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.87% | 5.21% | +25.66% |
Volatility (6M)Calculated over the trailing 6-month period | 49.31% | 8.58% | +40.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.92% | 10.75% | +61.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.55% | 13.35% | +48.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.55% | 13.46% | +48.09% |
Dividends
ALVO vs. QQQH - Dividend Comparison
ALVO has not paid dividends to shareholders, while QQQH's dividend yield for the trailing twelve months is around 8.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ALVO Alvotech | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQH NEOS Nasdaq-100 Hedged Equity Income ETF | 8.93% | 8.86% | 7.53% | 7.18% | 9.05% | 7.77% | 7.48% | 0.65% |
Frequently Asked Questions
ALVO and QQQH have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALVO has higher volatility (30.87%) compared to QQQH (5.21%). In terms of maximum drawdown, ALVO dropped -82.63% vs QQQH's -31.24%.
QQQH currently has the higher Sharpe Ratio (1.54 vs -0.83), 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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