CMGIX vs. QQQ

Last updated Jun 24, 2026

CMGIX (BlackRock Mid-Cap Growth Equity Portfolio) and QQQ (Invesco QQQ ETF) are both funds - CMGIX is a Mid Cap Growth Equities fund managed by BlackRock, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, CMGIX returned 13.17%/yr vs 22.07%/yr for QQQ. Their correlation of 0.85 suggests significant overlap in exposure. CMGIX charges 0.80%/yr vs 0.18%/yr for QQQ.

Performance

CMGIX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) 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, CMGIX achieves a 12.17% return, which is significantly lower than QQQ's 16.45% return. Over the past 10 years, CMGIX has underperformed QQQ with an annualized return of 13.17%, while QQQ has yielded a comparatively higher 22.07% annualized return.

CMGIX

• 1D: 0.45%
• 1M: 7.21%
• YTD: 12.17%
• 6M: 9.21%
• 1Y: 11.04%
• 3Y*: 12.75%
• 5Y*: 1.46%
• 10Y*: 13.17%

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

CMGIX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	12.17%	0.49%	12.44%	28.24%	-37.36%	14.51%	46.13%	36.19%	2.88%	34.59%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between CMGIX and QQQ is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999	0.85

The correlation between CMGIX and QQQ has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

CMGIX vs. QQQ — Risk / Return Rank

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

CMGIX

CMGIX Risk / Return Rank: 8
CMGIX Sharpe Ratio Rank: 7
CMGIX Sortino Ratio Rank: 7
CMGIX Omega Ratio Rank: 7
CMGIX Calmar Ratio Rank: 9
CMGIX Martin Ratio Rank: 9

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

CMGIX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) 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.

	CMGIX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.95	-1.42
Sortino ratio: Return per unit of downside risk	0.89	2.57	-1.67
Omega ratio: Gain probability vs. loss probability	1.11	1.35	-0.24
Calmar ratio: Return relative to maximum drawdown	0.79	2.93	-2.14
Martin ratio: Return relative to average drawdown	2.45	10.86	-8.42

CMGIX vs. QQQ - Sharpe Ratio Comparison

The current CMGIX Sharpe Ratio is 0.54, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of CMGIX 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

CMGIX vs. QQQ - Drawdown Comparison

The maximum CMGIX drawdown since its inception was -73.85%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for CMGIX and QQQ.

Drawdown Indicators

	CMGIX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-73.85%	-82.97%	+9.12%
Max Drawdown (1Y) Largest decline over 1 year	-14.90%	-11.96%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-29.77%	-22.77%	-7.00%
Max Drawdown (5Y) Largest decline over 5 years	-45.96%	-35.12%	-10.84%
Max Drawdown (10Y) Largest decline over 10 years	-45.96%	-35.12%	-10.84%
Current Drawdown Current decline from peak	-4.88%	-4.25%	-0.63%
Average Drawdown Average peak-to-trough decline	-28.62%	-32.73%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.81%	3.22%	+1.59%

Volatility

CMGIX vs. QQQ - Volatility Comparison

The current volatility for BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) is 7.76%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that CMGIX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMGIX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.76%	9.17%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	17.96%	14.57%	+3.39%
Volatility (1Y) Calculated over the trailing 1-year period	22.01%	17.96%	+4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.21%	22.69%	+2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	22.42%	+1.12%

CMGIX vs. QQQ - Expense Ratio Comparison

CMGIX has a 0.80% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

CMGIX vs. QQQ - Dividend Comparison

CMGIX's dividend yield for the trailing twelve months is around 18.90%, more than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	18.90%	21.20%	0.00%	0.00%	0.00%	4.94%	0.00%	0.39%	4.72%	3.31%	0.00%	2.57%
QQQ Invesco QQQ ETF	0.43%	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 CMGIX and QQQ in my portfolio?

CMGIX and QQQ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMGIX or QQQ?

QQQ has higher volatility (9.17%) compared to CMGIX (7.76%). In terms of maximum drawdown, CMGIX dropped -73.85% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.95 vs 0.54), 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.