BTCO vs. QQQ

Last updated Jun 26, 2026

BTCO (Invesco Galaxy Bitcoin ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - BTCO is a Cryptocurrency fund tracking the Lukka Prime Reference Bitcoin Rate, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past year, BTCO returned -45.25% vs 33.02% for QQQ. At a 0.42 correlation, their price movements are largely independent. BTCO charges 0.39%/yr vs 0.18%/yr for QQQ.

Performance

BTCO vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Galaxy Bitcoin ETF (BTCO) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTCO achieves a -32.42% return, which is significantly lower than QQQ's 16.89% return.

BTCO

• 1D: -1.07%
• 1M: -21.99%
• YTD: -32.42%
• 6M: -32.22%
• 1Y: -45.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 0.81%
• 1M: -1.80%
• YTD: 16.89%
• 6M: 15.09%
• 1Y: 33.02%
• 3Y*: 26.78%
• 5Y*: 16.13%
• 10Y*: 22.36%

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

BTCO vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCO Invesco Galaxy Bitcoin ETF	-32.42%	-6.58%	93.87%
QQQ Invesco QQQ ETF	16.89%	20.77%	25.89%

Correlation

The correlation between BTCO and QQQ is 0.50, 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	0.50
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.42

The correlation between BTCO and QQQ has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.

Return for Risk

BTCO vs. QQQ — Risk / Return Rank

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

BTCO

BTCO Risk / Return Rank: 2
BTCO Sharpe Ratio Rank: 1
BTCO Sortino Ratio Rank: 2
BTCO Omega Ratio Rank: 2
BTCO Calmar Ratio Rank: 2
BTCO Martin Ratio Rank: 1

QQQ

QQQ Risk / Return Rank: 64
QQQ Sharpe Ratio Rank: 66
QQQ Sortino Ratio Rank: 61
QQQ Omega Ratio Rank: 63
QQQ Calmar Ratio Rank: 65
QQQ Martin Ratio Rank: 65

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.

BTCO vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Galaxy Bitcoin ETF (BTCO) and Invesco QQQ ETF (QQQ). 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.

	BTCO	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	1.85	-2.88
Sortino ratio: Return per unit of downside risk	-1.54	2.45	-3.99
Omega ratio: Gain probability vs. loss probability	0.83	1.33	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.86	2.77	-3.63
Martin ratio: Return relative to average drawdown	-1.47	10.21	-11.68

BTCO vs. QQQ - Sharpe Ratio Comparison

The current BTCO Sharpe Ratio is -1.03, which is lower than the QQQ Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of BTCO and QQQ, 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

BTCO vs. QQQ - Drawdown Comparison

The maximum BTCO drawdown since its inception was -52.92%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for BTCO and QQQ.

Drawdown Indicators

	BTCO	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-52.92%	-82.97%	+30.05%
Max Drawdown (1Y) Largest decline over 1 year	-52.92%	-11.96%	-40.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-52.92%	-3.89%	-49.03%
Average Drawdown Average peak-to-trough decline	-16.85%	-32.72%	+15.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.91%	3.24%	+27.67%

Volatility

BTCO vs. QQQ - Volatility Comparison

Invesco Galaxy Bitcoin ETF (BTCO) has a higher volatility of 13.25% compared to Invesco QQQ ETF (QQQ) at 9.02%. This indicates that BTCO's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCO	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.25%	9.02%	+4.23%
Volatility (6M) Calculated over the trailing 6-month period	34.52%	14.55%	+19.97%
Volatility (1Y) Calculated over the trailing 1-year period	44.24%	17.91%	+26.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.74%	22.69%	+27.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.74%	22.41%	+27.33%

BTCO vs. QQQ - Expense Ratio Comparison

BTCO has a 0.39% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

BTCO vs. QQQ - Dividend Comparison

BTCO has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTCO Invesco Galaxy Bitcoin ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.42%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both BTCO and QQQ in my portfolio?

BTCO and QQQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTCO or QQQ?

BTCO has higher volatility (13.25%) compared to QQQ (9.02%). In terms of maximum drawdown, BTCO dropped -52.92% vs QQQ's -82.97%.

Which ETF is better, BTCO or QQQ?

On 1-year performance, QQQ leads with 33.02% vs -45.25% for BTCO. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 9.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTCO or QQQ?

Over the 1-year period, QQQ has performed better with a 33.02% return vs -45.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTCO or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.39% for BTCO.

Which ETF pays a higher dividend yield, BTCO or QQQ?

QQQ has the higher dividend yield at 0.42%, compared with 0.00% for BTCO.

What is the main difference between BTCO and QQQ?

BTCO is categorized as Cryptocurrency, while QQQ is Nasdaq-100. BTCO tracks Lukka Prime Reference Bitcoin Rate, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.39% for BTCO and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.85 vs -1.03), 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.