DEFI vs. QQQ
Compare and contrast key facts about Hashdex Bitcoin Futures ETF (DEFI) and Invesco QQQ (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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DEFI or QQQ.
Performance
DEFI vs. QQQ - Performance Comparison
Returns By Period
In the year-to-date period, DEFI achieves a 105.10% return, which is significantly higher than QQQ's 21.78% return.
DEFI
105.10%
34.64%
35.72%
134.73%
N/A
N/A
QQQ
21.78%
1.15%
10.25%
29.54%
20.42%
17.95%
Key characteristics
| DEFI | QQQ | |
|---|---|---|
| Sharpe Ratio | 2.19 | 1.70 |
| Sortino Ratio | 2.74 | 2.29 |
| Omega Ratio | 1.32 | 1.31 |
| Calmar Ratio | 4.38 | 2.19 |
| Martin Ratio | 9.87 | 7.96 |
| Ulcer Index | 12.62% | 3.72% |
| Daily Std Dev | 56.94% | 17.39% |
| Max Drawdown | -28.43% | -82.98% |
| Current Drawdown | 0.00% | -3.42% |
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DEFI vs. QQQ - Expense Ratio Comparison
DEFI has a 0.90% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Correlation
The correlation between DEFI and QQQ is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
DEFI vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Bitcoin Futures ETF (DEFI) and Invesco QQQ (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.
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 0.61%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 0.61% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.02% |
Drawdowns
DEFI vs. QQQ - Drawdown Comparison
The maximum DEFI drawdown since its inception was -28.43%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for DEFI and QQQ. For additional features, visit the drawdowns tool.
Volatility
DEFI vs. QQQ - Volatility Comparison
Hashdex Bitcoin Futures ETF (DEFI) has a higher volatility of 18.39% compared to Invesco QQQ (QQQ) at 5.62%. 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.