CBL vs. QQQ

Last updated Jun 23, 2026

CBL (CBL & Associates Properties, Inc.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 3 years, CBL returned 41.88%/yr vs 27.47%/yr for QQQ. At a 0.30 correlation, their price movements are largely independent.

Performance

CBL vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CBL & Associates Properties, Inc. (CBL) 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, CBL achieves a 37.96% return, which is significantly higher than QQQ's 20.41% return.

CBL

• 1D: 4.64%
• 1M: 6.35%
• YTD: 37.96%
• 6M: 36.96%
• 1Y: 105.93%
• 3Y*: 41.88%
• 5Y*: —
• 10Y*: —

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

CBL vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CBL CBL & Associates Properties, Inc.	37.96%	37.21%	28.52%	12.96%	-17.96%	18.86%
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	2.82%

Correlation

The correlation between CBL and QQQ is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.30

Over the past year, the correlation between CBL and QQQ has dropped to 0.09 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

CBL vs. QQQ — Risk / Return Rank

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

CBL

CBL Risk / Return Rank: 97
CBL Sharpe Ratio Rank: 97
CBL Sortino Ratio Rank: 97
CBL Omega Ratio Rank: 96
CBL Calmar Ratio Rank: 97
CBL Martin Ratio Rank: 98

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ 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.

CBL vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CBL & Associates Properties, Inc. (CBL) 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.

	CBL	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	3.92	2.33	+1.59
Sortino ratio: Return per unit of downside risk	4.82	3.03	+1.79
Omega ratio: Gain probability vs. loss probability	1.59	1.41	+0.19
Calmar ratio: Return relative to maximum drawdown	8.61	3.44	+5.17
Martin ratio: Return relative to average drawdown	28.92	12.79	+16.13

CBL vs. QQQ - Sharpe Ratio Comparison

The current CBL Sharpe Ratio is 3.92, which is higher than the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of CBL 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

CBL vs. QQQ - Drawdown Comparison

The maximum CBL drawdown since its inception was -34.02%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for CBL and QQQ.

Drawdown Indicators

	CBL	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.02%	-82.97%	+48.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-11.96%	-0.35%
Max Drawdown (3Y) Largest decline over 3 years	-29.14%	-22.77%	-6.37%
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	-0.20%	-0.99%	+0.79%
Average Drawdown Average peak-to-trough decline	-12.37%	-32.73%	+20.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	3.21%	+0.45%

Volatility

CBL vs. QQQ - Volatility Comparison

CBL & Associates Properties, Inc. (CBL) and Invesco QQQ ETF (QQQ) have volatilities of 8.46% and 8.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBL	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.46%	8.47%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	20.37%	14.20%	+6.17%
Volatility (1Y) Calculated over the trailing 1-year period	27.09%	17.67%	+9.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.36%	22.64%	+9.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.36%	22.43%	+9.93%

Dividends

CBL vs. QQQ - Dividend Comparison

CBL's dividend yield for the trailing twelve months is around 4.33%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBL CBL & Associates Properties, Inc.	4.33%	6.76%	5.44%	6.14%	12.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.49%	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 CBL and QQQ in my portfolio?

CBL and QQQ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBL or QQQ?

QQQ has higher volatility (8.47%) compared to CBL (8.46%). In terms of maximum drawdown, CBL dropped -34.02% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

CBL currently has the higher Sharpe Ratio (3.92 vs 2.33), 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.