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COMM.L vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

COMM.L vs. QQQ

Last updated Jun 4, 2026

COMM.L (iShares Diversified Commodity Swap UCITS ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - COMM.L is a Commodities fund tracking the Bloomberg Commodity, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, COMM.L returned 12.56%/yr vs 19.24%/yr for QQQ. At a 0.12 correlation, their price movements are largely independent. COMM.L charges 0.19%/yr vs 0.18%/yr for QQQ.

Performance

COMM.L vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Diversified Commodity Swap UCITS ETF (COMM.L) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

COMM.L is traded in GBp, while QQQ is traded in USD. To make them comparable, the QQQ values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, COMM.L achieves a 26.50% return, which is significantly higher than QQQ's 21.75% return.

COMM.L

1D
0.70%
1M
-0.33%
YTD
26.50%
6M
24.77%
1Y
40.42%
3Y*
13.56%
5Y*
12.56%
10Y*
—

QQQ

1D
0.00%
1M
11.50%
YTD
21.75%
6M
19.03%
1Y
42.81%
3Y*
25.59%
5Y*
19.24%
10Y*
22.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

COMM.L vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
COMM.L
iShares Diversified Commodity Swap UCITS ETF		26.50%8.53%6.19%-12.55%28.34%29.04%-7.09%2.79%-4.51%0.62%
QQQ
Invesco QQQ ETF		21.75%12.17%27.77%47.12%-24.56%28.63%44.26%33.67%5.80%3.67%

Correlation

The correlation between COMM.L and QQQ is 0.00, 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

0.00

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

0.04

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

0.01

Correlation (All Time)
Calculated using the full available price history since Aug 23, 2017

0.12

The correlation between COMM.L and QQQ shifts across timeframes, from 0.00 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

COMM.L vs. QQQ - Sectors Allocation Comparison

Sectors
COMM.L
QQQ

Basic Materials

35.8%
1.1%

Financial Services

17.8%
0.2%

Consumer Cyclical

12.9%
12.3%

Communication Services

12.3%
15.8%

Consumer Defensive

9.7%
7.7%

Real Estate

5.8%
0.1%

Technology

5.6%
53.8%

Energy

-

0.6%

Healthcare

-

4.2%

Industrials

-

2.8%

Utilities

-

1.4%

Basic Materials

COMM.L
35.8%
QQQ
1.1%

Financial Services

COMM.L
17.8%
QQQ
0.2%

Consumer Cyclical

COMM.L
12.9%
QQQ
12.3%

Communication Services

COMM.L
12.3%
QQQ
15.8%

Consumer Defensive

COMM.L
9.7%
QQQ
7.7%

Real Estate

COMM.L
5.8%
QQQ
0.1%

Technology

COMM.L
5.6%
QQQ
53.8%

Energy

COMM.L

-

QQQ
0.6%

Healthcare

COMM.L

-

QQQ
4.2%

Industrials

COMM.L

-

QQQ
2.8%

Utilities

COMM.L

-

QQQ
1.4%

Compare stocks, funds, or ETFs

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iShares Diversified Commodity Swap UCITS ETF

Invesco QQQ ETF

Often compared with COMM.L:
COMM.L vs. GLTRCOMM.L vs. RINFCOMM.L vs. LCSIXCOMM.L vs. SGLP.LCOMM.L vs. CMOP.LCOMM.L vs. PDBCCOMM.L vs. COM
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

COMM.L vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
COMM.L
COMM.L Risk / Return Rank: 6868
Overall Rank
COMM.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
COMM.L Sortino Ratio Rank: 5555
Sortino Ratio Rank
COMM.L Omega Ratio Rank: 6565
Omega Ratio Rank
COMM.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
COMM.L Martin Ratio Rank: 6767
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7575
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7474
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
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.

COMM.L vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (COMM.L) 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.

COMM.LQQQDifference
Sharpe ratioReturn per unit of total volatility
2.17
2.81

-0.64

Sortino ratioReturn per unit of downside risk
2.64
3.58

-0.94

Omega ratioGain probability vs. loss probability

1.40

1.50

-0.10

Calmar ratioReturn relative to maximum drawdown

5.37

3.62

+1.75

Martin ratioReturn relative to average drawdown

12.27

10.95

+1.33

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COMM.L vs. QQQ - Sharpe Ratio Comparison

The current COMM.L Sharpe Ratio is 2.17, which is comparable to the QQQ Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of COMM.L 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.

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Sharpe Ratios by Period

COMM.LQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

2.81

-0.64

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.92

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.03

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.87

-0.35

Drawdowns

COMM.L vs. QQQ - Drawdown Comparison

The maximum COMM.L drawdown since its inception was -28.49%, smaller than the maximum QQQ drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for COMM.L and QQQ.

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Drawdown Indicators

COMM.LQQQDifference

Max Drawdown

Largest peak-to-trough decline

-28.49%

-34.25%

+5.76%

Max Drawdown (1Y)

Largest decline over 1 year

-7.49%

-11.89%

+4.40%

Max Drawdown (3Y)

Largest decline over 3 years

-14.73%

-24.87%

+10.14%

Max Drawdown (5Y)

Largest decline over 5 years

-28.49%

-27.87%

-0.62%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.87%

—

Current Drawdown

Current decline from peak

-3.76%

0.00%

-3.76%

Average Drawdown

Average peak-to-trough decline

-12.16%

-5.47%

-6.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.28%

3.92%

-0.64%

Volatility

COMM.L vs. QQQ - Volatility Comparison

iShares Diversified Commodity Swap UCITS ETF (COMM.L) has a higher volatility of 6.13% compared to Invesco QQQ ETF (QQQ) at 3.98%. This indicates that COMM.L'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.

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Volatility by Period

COMM.LQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

3.98%

+2.15%

Volatility (6M)

Calculated over the trailing 6-month period

16.37%

10.98%

+5.39%

Volatility (1Y)

Calculated over the trailing 1-year period

18.53%

15.31%

+3.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.50%

21.11%

-4.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.37%

22.22%

-6.85%

COMM.L vs. QQQ - Expense Ratio Comparison

COMM.L has a 0.19% expense ratio, which is higher than QQQ's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

COMM.L vs. QQQ - Dividend Comparison

COMM.L has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.38%.

PositionTTM20252024202320222021202020192018201720162015
COMM.L
iShares Diversified Commodity Swap UCITS 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		0.38%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

COMM.L and QQQ have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.19% for COMM.L.

COMM.L is categorized as Commodities, while QQQ is Nasdaq-100. COMM.L tracks Bloomberg Commodity, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.19% for COMM.L and 0.18% for QQQ.

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