ALVO vs. QQQM
ALVO (Alvotech) is a stock, while QQQM (Invesco NASDAQ 100 ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 3 years, ALVO returned -21.16%/yr vs 26.15%/yr for QQQM. At a 0.14 correlation, their price movements are largely independent.
Performance
ALVO vs. QQQM - 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 QQQM's 16.48% return.
ALVO
- 1D
- 1.37%
- 1M
- 10.78%
- YTD
- -27.88%
- 6M
- -23.08%
- 1Y
- -59.47%
- 3Y*
- -21.16%
- 5Y*
- —
- 10Y*
- —
QQQM
- 1D
- -3.30%
- 1M
- -0.42%
- YTD
- 16.48%
- 6M
- 15.00%
- 1Y
- 34.99%
- 3Y*
- 26.15%
- 5Y*
- 16.11%
- 10Y*
- —
ALVO vs. QQQM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ALVO Alvotech | -27.88% | -61.22% | 15.24% | 14.80% | 5.26% |
QQQM Invesco NASDAQ 100 ETF | 16.48% | 20.85% | 25.68% | 55.01% | -5.31% |
Correlation
The correlation between ALVO and QQQM is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2022 | 0.14 |
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Return for Risk
ALVO vs. QQQM — Risk / Return Rank
ALVO
QQQM
ALVO vs. QQQM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alvotech (ALVO) and Invesco NASDAQ 100 ETF (QQQM). 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 | QQQM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.80 | ||
| Sortino ratioReturn per unit of downside risk | -3.77 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.35 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.94 | -3.80 |
| Martin ratioReturn relative to average drawdown | -1.30 | 10.88 | -12.18 |
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Drawdowns
ALVO vs. QQQM - Drawdown Comparison
The maximum ALVO drawdown since its inception was -82.63%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for ALVO and QQQM.
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Drawdown Indicators
| ALVO | QQQM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.63% | -35.04% | -47.59% |
Max Drawdown (1Y)Largest decline over 1 year | -69.42% | -11.96% | -57.46% |
Max Drawdown (3Y)Largest decline over 3 years | -82.63% | -22.70% | -59.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.04% | — |
Current DrawdownCurrent decline from peak | -78.58% | -4.24% | -74.34% |
Average DrawdownAverage peak-to-trough decline | -37.58% | -8.20% | -29.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.79% | 3.22% | +42.57% |
Volatility
ALVO vs. QQQM - Volatility Comparison
Alvotech (ALVO) has a higher volatility of 30.87% compared to Invesco NASDAQ 100 ETF (QQQM) at 9.00%. This indicates that ALVO's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALVO | QQQM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.87% | 9.00% | +21.87% |
Volatility (6M)Calculated over the trailing 6-month period | 49.31% | 14.43% | +34.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.92% | 17.85% | +54.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.55% | 22.53% | +39.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.55% | 22.30% | +39.25% |
Dividends
ALVO vs. QQQM - Dividend Comparison
ALVO has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
ALVO Alvotech | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQM Invesco NASDAQ 100 ETF | 0.44% | 0.50% | 0.61% | 0.65% | 0.83% | 0.40% | 0.16% |
Frequently Asked Questions
ALVO and QQQM have a correlation of 0.21, 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 QQQM (9.00%). In terms of maximum drawdown, ALVO dropped -82.63% vs QQQM's -35.04%.
QQQM currently has the higher Sharpe Ratio (1.97 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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