DEFI vs. QQQ

Last updated Jun 24, 2026

DEFI (Hashdex Bitcoin Futures ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - DEFI is a Cryptocurrency fund tracking the HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past year, DEFI returned -39.31% vs 34.88% for QQQ. At a 0.44 correlation, their price movements are largely independent. DEFI charges 0.90%/yr vs 0.18%/yr for QQQ.

Performance

DEFI vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hashdex Bitcoin Futures ETF (DEFI) 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, DEFI achieves a -28.66% return, which is significantly lower than QQQ's 16.45% return.

DEFI

• 1D: -3.31%
• 1M: -17.85%
• YTD: -28.66%
• 6M: -28.92%
• 1Y: -39.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

DEFI vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DEFI Hashdex Bitcoin Futures ETF	-28.66%	-6.87%	30.39%
QQQ Invesco QQQ ETF	16.45%	20.77%	15.85%

Correlation

The correlation between DEFI 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 Mar 27, 2024	0.44

The correlation between DEFI and QQQ has been stable across timeframes, ranging from 0.44 to 0.50 - a consistent structural relationship.

Return for Risk

DEFI vs. QQQ — Risk / Return Rank

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

DEFI

DEFI Risk / Return Rank: 2
DEFI Sharpe Ratio Rank: 2
DEFI Sortino Ratio Rank: 2
DEFI Omega Ratio Rank: 3
DEFI Calmar Ratio Rank: 3
DEFI Martin Ratio Rank: 2

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.

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.

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.

	DEFI	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	1.95	-2.84
Sortino ratio: Return per unit of downside risk	-1.22	2.57	-3.78
Omega ratio: Gain probability vs. loss probability	0.86	1.35	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.76	2.93	-3.69
Martin ratio: Return relative to average drawdown	-1.29	10.86	-12.16

DEFI vs. QQQ - Sharpe Ratio Comparison

The current DEFI Sharpe Ratio is -0.89, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of DEFI 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

DEFI vs. QQQ - Drawdown Comparison

The maximum DEFI drawdown since its inception was -51.95%, 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.

Drawdown Indicators

	DEFI	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-51.95%	-82.97%	+31.02%
Max Drawdown (1Y) Largest decline over 1 year	-51.95%	-11.96%	-39.99%
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	-50.34%	-4.25%	-46.09%
Average Drawdown Average peak-to-trough decline	-17.21%	-32.73%	+15.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.47%	3.22%	+27.25%

Volatility

DEFI vs. QQQ - Volatility Comparison

Hashdex Bitcoin Futures ETF (DEFI) has a higher volatility of 13.09% compared to Invesco QQQ ETF (QQQ) at 9.17%. 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.

Volatility by Period

	DEFI	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.09%	9.17%	+3.92%
Volatility (6M) Calculated over the trailing 6-month period	34.96%	14.57%	+20.39%
Volatility (1Y) Calculated over the trailing 1-year period	44.55%	17.96%	+26.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.90%	22.69%	+26.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.90%	22.42%	+26.48%

DEFI vs. QQQ - Expense Ratio Comparison

DEFI has a 0.90% expense ratio, which is higher than QQQ's 0.18% expense ratio.

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 0.43%.

Position	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	0.43%	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 DEFI and QQQ in my portfolio?

DEFI 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, DEFI or QQQ?

DEFI has higher volatility (13.09%) compared to QQQ (9.17%). In terms of maximum drawdown, DEFI dropped -51.95% vs QQQ's -82.97%.

Which ETF is better, DEFI or QQQ?

On 1-year performance, QQQ leads with 34.88% vs -39.31% for DEFI. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 9.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEFI or QQQ?

Over the 1-year period, QQQ has performed better with a 34.88% return vs -39.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEFI or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.90% for DEFI.

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

QQQ has the higher dividend yield at 0.43%, compared with 0.00% for DEFI.

What is the main difference between DEFI and QQQ?

DEFI is categorized as Cryptocurrency, while QQQ is Nasdaq-100. DEFI tracks HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Hashdex and Invesco. Their fees differ too: 0.90% for DEFI and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.95 vs -0.89), 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.