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DKNG vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DKNG vs. QQQ

Last updated Jun 5, 2026

DKNG (DraftKings Inc.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, DKNG returned -12.80%/yr vs 17.86%/yr for QQQ. At a 0.45 correlation, their price movements are largely independent.

Performance

DKNG vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DraftKings Inc. (DKNG) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DKNG achieves a -26.38% return, which is significantly lower than QQQ's 20.71% return.

DKNG

1D
1.04%
1M
4.96%
YTD
-26.38%
6M
-27.91%
1Y
-27.18%
3Y*
0.09%
5Y*
-12.80%
10Y*
—

QQQ

1D
-0.48%
1M
8.66%
YTD
20.71%
6M
19.19%
1Y
40.74%
3Y*
28.54%
5Y*
17.86%
10Y*
21.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DKNG vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
DKNG
DraftKings Inc.		-26.38%-7.37%5.53%209.48%-58.54%-41.00%140.62%
QQQ
Invesco QQQ ETF		20.71%20.77%25.58%54.86%-32.58%27.42%47.45%

Correlation

The correlation between DKNG and QQQ is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

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

0.40

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

0.50

Correlation (All Time)
Calculated using the full available price history since Apr 27, 2020

0.45

Over the past year, the correlation between DKNG and QQQ has dropped to 0.16 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

DraftKings Inc.

Invesco QQQ ETF

Often compared with DKNG:
DKNG vs. FLTR.LDKNG vs. PENNDKNG vs. SPYDKNG vs. CZRDKNG vs. PLTRDKNG vs. DASHDKNG vs. NVDA
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

DKNG vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DKNG
DKNG Risk / Return Rank: 2121
Overall Rank
DKNG Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
DKNG Sortino Ratio Rank: 1919
Sortino Ratio Rank
DKNG Omega Ratio Rank: 1919
Omega Ratio Rank
DKNG Calmar Ratio Rank: 2525
Calmar Ratio Rank
DKNG Martin Ratio Rank: 2727
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7474
Overall Rank
QQQ Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7676
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7575
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7070
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.

DKNG vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DraftKings Inc. (DKNG) 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.

DKNGQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.58
2.57

-3.15

Sortino ratioReturn per unit of downside risk
-0.57
3.37

-3.94

Omega ratioGain probability vs. loss probability

0.93

1.44

-0.51

Calmar ratioReturn relative to maximum drawdown

-0.48

3.42

-3.90

Martin ratioReturn relative to average drawdown

-0.78

13.14

-13.93

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

DKNG vs. QQQ - Sharpe Ratio Comparison

The current DKNG Sharpe Ratio is -0.58, which is lower than the QQQ Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of DKNG 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

DKNGQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.58

2.57

-3.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.21

0.80

-1.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.98

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.07

0.41

-0.34

Drawdowns

DKNG vs. QQQ - Drawdown Comparison

The maximum DKNG drawdown since its inception was -85.73%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for DKNG and QQQ.

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Drawdown Indicators

DKNGQQQDifference

Max Drawdown

Largest peak-to-trough decline

-85.73%

-82.97%

-2.76%

Max Drawdown (1Y)

Largest decline over 1 year

-57.04%

-11.96%

-45.08%

Max Drawdown (3Y)

Largest decline over 3 years

-61.26%

-22.77%

-38.49%

Max Drawdown (5Y)

Largest decline over 5 years

-83.87%

-35.12%

-48.75%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.12%

—

Current Drawdown

Current decline from peak

-64.75%

-0.74%

-64.01%

Average Drawdown

Average peak-to-trough decline

-48.92%

-32.78%

-16.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

34.80%

3.11%

+31.69%

Volatility

DKNG vs. QQQ - Volatility Comparison

DraftKings Inc. (DKNG) has a higher volatility of 14.41% compared to Invesco QQQ ETF (QQQ) at 4.51%. This indicates that DKNG'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

DKNGQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.41%

4.51%

+9.90%

Volatility (6M)

Calculated over the trailing 6-month period

35.21%

12.10%

+23.11%

Volatility (1Y)

Calculated over the trailing 1-year period

46.99%

15.94%

+31.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

61.13%

22.37%

+38.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

63.21%

22.29%

+40.92%

Dividends

DKNG vs. QQQ - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
DKNG
DraftKings Inc.		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

DKNG and QQQ have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DKNG has higher volatility (14.41%) compared to QQQ (4.51%). In terms of maximum drawdown, DKNG dropped -85.73% vs QQQ's -82.97%.

QQQ currently has the higher Sharpe Ratio (2.57 vs -0.58), 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.

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