PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
AT1S.L vs. EQQQ.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AT1S.L vs. EQQQ.L

Last updated Jul 16, 2026
Documentation

AT1S.L (Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist) and EQQQ.L (Invesco EQQQ NASDAQ-100 UCITS ETF) are both exchange-traded funds - AT1S.L is a Preferred Stock/Convertible Bonds fund tracking the iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) Index, while EQQQ.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, AT1S.L returned 2.11%/yr vs 15.80%/yr for EQQQ.L. At a 0.39 correlation, their price movements are largely independent. AT1S.L charges 0.39%/yr vs 0.30%/yr for EQQQ.L.

Performance

AT1S.L vs. EQQQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist (AT1S.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, AT1S.L achieves a 2.03% return, which is significantly lower than EQQQ.L's 15.65% return.

AT1S.L

1D
0.09%
1M
0.31%
6M
1.47%
YTD
2.03%
1Y
6.92%
3Y*
10.39%
5Y*
2.11%
10Y*
—

EQQQ.L

1D
-1.34%
1M
-3.89%
6M
15.70%
YTD
15.65%
1Y
27.43%
3Y*
22.66%
5Y*
15.80%
10Y*
20.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AT1S.L vs. EQQQ.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
AT1S.L
Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist		2.03%10.47%9.80%1.39%-11.03%3.09%5.25%16.25%-3.05%
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		15.65%11.54%28.55%47.79%-25.54%29.59%43.32%33.69%-13.20%

Correlation

The correlation between AT1S.L and EQQQ.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.39

Correlation (All Time)
Calculated using the full available price history since Sep 25, 2018

0.39

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist

Invesco EQQQ NASDAQ-100 UCITS ETF

Often compared with EQQQ.L:
EQQQ.L vs. QQQEQQQ.L vs. QQQMEQQQ.L vs. EQGB.LEQQQ.L vs. CNX1.LEQQQ.L vs. EQQU.LEQQQ.L vs. CSPX.LEQQQ.L vs. XNAQ.L

Return for Risk

AT1S.L vs. EQQQ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AT1S.L
AT1S.L Risk / Return Rank: 5555
Overall Rank
AT1S.L Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
AT1S.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
AT1S.L Omega Ratio Rank: 6464
Omega Ratio Rank
AT1S.L Calmar Ratio Rank: 4646
Calmar Ratio Rank
AT1S.L Martin Ratio Rank: 5757
Martin Ratio Rank
EQQQ.L
EQQQ.L Risk / Return Rank: 6060
Overall Rank
EQQQ.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
EQQQ.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
EQQQ.L Omega Ratio Rank: 6161
Omega Ratio Rank
EQQQ.L Calmar Ratio Rank: 6262
Calmar Ratio Rank
EQQQ.L Martin Ratio Rank: 5151
Martin Ratio Rank
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.

AT1S.L vs. EQQQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist (AT1S.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L). 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.

AT1S.LEQQQ.LDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.66

-0.20

Sortino ratioReturn per unit of downside risk
2.21
2.29

-0.08

Omega ratioGain probability vs. loss probability

1.31

1.30

+0.01

Calmar ratioReturn relative to maximum drawdown

1.90

2.49

-0.59

Martin ratioReturn relative to average drawdown

7.87

7.02

+0.86

AT1S.L vs. EQQQ.L - Sharpe Ratio Comparison

The current AT1S.L Sharpe Ratio is 1.46, which is comparable to the EQQQ.L Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of AT1S.L and EQQQ.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

AT1S.L vs. EQQQ.L - Drawdown Comparison

The maximum AT1S.L drawdown since its inception was -29.25%, smaller than the maximum EQQQ.L drawdown of -65.36%. Use the drawdown chart below to compare losses from any high point for AT1S.L and EQQQ.L.

Loading charts...

Drawdown Indicators

AT1S.LEQQQ.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.25%

-65.36%

+36.11%

Max Drawdown (1Y)

Largest decline over 1 year

-3.63%

-10.97%

+7.34%

Max Drawdown (3Y)

Largest decline over 3 years

-4.20%

-24.09%

+19.89%

Max Drawdown (5Y)

Largest decline over 5 years

-26.45%

-27.76%

+1.31%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.76%

—

Current Drawdown

Current decline from peak

-0.44%

-4.95%

+4.51%

Average Drawdown

Average peak-to-trough decline

-5.38%

-12.46%

+7.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

3.90%

-3.02%

Volatility

AT1S.L vs. EQQQ.L - Volatility Comparison

The current volatility for Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist (AT1S.L) is 0.87%, while Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) has a volatility of 6.19%. This indicates that AT1S.L experiences smaller price fluctuations and is considered to be less risky than EQQQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

AT1S.LEQQQ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.87%

6.19%

-5.32%

Volatility (6M)

Calculated over the trailing 6-month period

4.26%

12.46%

-8.20%

Volatility (1Y)

Calculated over the trailing 1-year period

4.71%

16.44%

-11.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.57%

19.40%

-9.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.41%

19.38%

-7.97%

AT1S.L vs. EQQQ.L - Expense Ratio Comparison

AT1S.L has a 0.39% expense ratio, which is higher than EQQQ.L's 0.30% expense ratio.

Dividends

AT1S.L vs. EQQQ.L - Dividend Comparison

AT1S.L's dividend yield for the trailing twelve months is around 6.00%, more than EQQQ.L's 0.23% yield.

PositionTTM20252024202320222021202020192018201720162015
AT1S.L
Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist		6.00%5.91%6.29%6.12%6.02%4.36%5.31%5.45%1.13%0.00%0.00%0.00%
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		0.23%0.29%0.38%0.39%0.56%0.25%0.41%0.56%0.63%0.67%0.77%0.72%

Frequently Asked Questions

AT1S.L and EQQQ.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EQQQ.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EQQQ.L is cheaper with a 0.30% expense ratio, compared with 0.39% for AT1S.L.

AT1S.L is categorized as Preferred Stock/Convertible Bonds, while EQQQ.L is Nasdaq-100. AT1S.L tracks iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) Index, while EQQQ.L tracks NASDAQ-100 Index. Their fees differ too: 0.39% for AT1S.L and 0.30% for EQQQ.L.

Portfolio Optimizer

Find the right allocation for AT1S.L and EQQQ.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer