DEFI vs. QQQ
Compare and contrast key facts about Hashdex Bitcoin Futures ETF (DEFI) and Invesco QQQ ETF (QQQ).
DEFI and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DEFI is a passively managed fund by Hashdex that tracks the performance of the HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index. It was launched on Sep 15, 2022. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both DEFI and QQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DEFI vs. QQQ - Performance Comparison
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DEFI vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DEFI Hashdex Bitcoin Futures ETF | -21.46% | -6.87% | 36.09% |
QQQ Invesco QQQ ETF | -4.76% | 20.77% | 15.46% |
Returns By Period
In the year-to-date period, DEFI achieves a -21.46% return, which is significantly lower than QQQ's -4.76% return.
DEFI
- 1D
- 1.00%
- 1M
- -1.27%
- YTD
- -21.46%
- 6M
- -41.55%
- 1Y
- -19.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQQ
- 1D
- 1.24%
- 1M
- -3.79%
- YTD
- -4.76%
- 6M
- -2.89%
- 1Y
- 24.21%
- 3Y*
- 22.83%
- 5Y*
- 13.16%
- 10Y*
- 18.99%
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DEFI vs. QQQ - Expense Ratio Comparison
DEFI has a 0.90% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Return for Risk
DEFI vs. QQQ — Risk / Return Rank
DEFI
QQQ
DEFI vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Bitcoin Futures ETF (DEFI) 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.
| DEFI | QQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.43 | 1.07 | -1.50 |
Sortino ratioReturn per unit of downside risk | -0.35 | 1.66 | -2.01 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.24 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | -0.34 | 2.00 | -2.34 |
Martin ratioReturn relative to average drawdown | -0.72 | 7.32 | -8.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DEFI | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.43 | 1.07 | -1.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.38 | -0.38 |
Correlation
The correlation between DEFI and QQQ is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
DEFI vs. QQQ - Dividend Comparison
DEFI has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.48%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEFI Hashdex Bitcoin Futures 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 | 0.48% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Drawdowns
DEFI vs. QQQ - Drawdown Comparison
The maximum DEFI drawdown since its inception was -49.60%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for DEFI and QQQ.
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Drawdown Indicators
| DEFI | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.60% | -82.97% | +33.37% |
Max Drawdown (1Y)Largest decline over 1 year | -49.60% | -12.62% | -36.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -45.33% | -7.86% | -37.47% |
Average DrawdownAverage peak-to-trough decline | -14.50% | -32.99% | +18.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.18% | 3.44% | +19.74% |
Volatility
DEFI vs. QQQ - Volatility Comparison
Hashdex Bitcoin Futures ETF (DEFI) has a higher volatility of 12.90% compared to Invesco QQQ ETF (QQQ) at 6.61%. This indicates that DEFI'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
| DEFI | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.90% | 6.61% | +6.29% |
Volatility (6M)Calculated over the trailing 6-month period | 37.28% | 12.82% | +24.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.25% | 22.70% | +22.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.92% | 22.38% | +27.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.92% | 22.25% | +27.67% |