BFOCX vs. QQQM

Last updated Jun 23, 2026

BFOCX (Berkshire Focus Fund) and QQQM (Invesco NASDAQ 100 ETF) are both funds - BFOCX is a Technology Equities fund managed by Berkshire, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, BFOCX returned 12.77%/yr vs 17.04%/yr for QQQM. Their correlation of 0.83 suggests significant overlap in exposure. BFOCX charges 1.94%/yr vs 0.15%/yr for QQQM.

Performance

BFOCX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Focus Fund (BFOCX) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFOCX achieves a 66.59% return, which is significantly higher than QQQM's 20.46% return.

BFOCX

• 1D: 5.28%
• 1M: 13.50%
• YTD: 66.59%
• 6M: 61.32%
• 1Y: 100.81%
• 3Y*: 52.32%
• 5Y*: 12.77%
• 10Y*: 23.50%

QQQM

• 1D: -0.09%
• 1M: 2.98%
• YTD: 20.46%
• 6M: 19.51%
• 1Y: 41.06%
• 3Y*: 27.57%
• 5Y*: 17.04%
• 10Y*: —

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

BFOCX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BFOCX Berkshire Focus Fund	66.59%	28.67%	59.16%	50.20%	-65.06%	-1.79%	12.60%
QQQM Invesco NASDAQ 100 ETF	20.46%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%

Correlation

The correlation between BFOCX and QQQM is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.83

The correlation between BFOCX and QQQM has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

Return for Risk

BFOCX vs. QQQM — Risk / Return Rank

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

BFOCX

BFOCX Risk / Return Rank: 76
BFOCX Sharpe Ratio Rank: 82
BFOCX Sortino Ratio Rank: 53
BFOCX Omega Ratio Rank: 59
BFOCX Calmar Ratio Rank: 96
BFOCX Martin Ratio Rank: 89

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 77
QQQM Sortino Ratio Rank: 70
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 71
QQQM 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.

BFOCX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Focus Fund (BFOCX) 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.

	BFOCX	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.36	+0.12
Sortino ratio: Return per unit of downside risk	2.81	3.05	-0.24
Omega ratio: Gain probability vs. loss probability	1.39	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	5.90	3.45	+2.45
Martin ratio: Return relative to average drawdown	16.22	12.82	+3.41

BFOCX vs. QQQM - Sharpe Ratio Comparison

The current BFOCX Sharpe Ratio is 2.48, which is comparable to the QQQM Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of BFOCX and QQQM, 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

BFOCX vs. QQQM - Drawdown Comparison

The maximum BFOCX drawdown since its inception was -95.80%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for BFOCX and QQQM.

Drawdown Indicators

	BFOCX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-95.80%	-35.04%	-60.76%
Max Drawdown (1Y) Largest decline over 1 year	-17.22%	-11.96%	-5.26%
Max Drawdown (3Y) Largest decline over 3 years	-40.55%	-22.70%	-17.85%
Max Drawdown (5Y) Largest decline over 5 years	-72.53%	-35.04%	-37.49%
Max Drawdown (10Y) Largest decline over 10 years	-72.53%	—	—
Current Drawdown Current decline from peak	0.00%	-0.97%	+0.97%
Average Drawdown Average peak-to-trough decline	-58.09%	-8.20%	-49.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	3.21%	+3.05%

Volatility

BFOCX vs. QQQM - Volatility Comparison

Berkshire Focus Fund (BFOCX) has a higher volatility of 20.62% compared to Invesco NASDAQ 100 ETF (QQQM) at 8.28%. This indicates that BFOCX'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.

Volatility by Period

	BFOCX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.62%	8.28%	+12.34%
Volatility (6M) Calculated over the trailing 6-month period	34.26%	14.05%	+20.21%
Volatility (1Y) Calculated over the trailing 1-year period	41.10%	17.55%	+23.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.29%	22.48%	+21.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.02%	22.26%	+15.76%

BFOCX vs. QQQM - Expense Ratio Comparison

BFOCX has a 1.94% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

BFOCX vs. QQQM - Dividend Comparison

BFOCX has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFOCX Berkshire Focus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	19.54%	21.20%	14.20%	5.70%	21.73%	0.14%	9.52%
QQQM Invesco NASDAQ 100 ETF	0.43%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BFOCX and QQQM in my portfolio?

BFOCX and QQQM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFOCX or QQQM?

BFOCX has higher volatility (20.62%) compared to QQQM (8.28%). In terms of maximum drawdown, BFOCX dropped -95.80% vs QQQM's -35.04%.

Which has better risk-adjusted returns?

BFOCX currently has the higher Sharpe Ratio (2.48 vs 2.36), 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.