EDOW vs. QQQE
Compare and contrast key facts about First Trust Dow 30 Equal Weight ETF (EDOW) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE).
EDOW and QQQE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EDOW is a passively managed fund by First Trust that tracks the performance of the Dow Jones Industrail Average Equal Weight TR. It was launched on Aug 8, 2017. QQQE is a passively managed fund by Direxion that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Mar 21, 2012. Both EDOW and QQQE 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: EDOW or QQQE.
Key characteristics
| EDOW | QQQE | |
|---|---|---|
| YTD Return | 14.55% | 11.46% |
| 1Y Return | 24.91% | 22.38% |
| 3Y Return (Ann) | 7.37% | 3.57% |
| 5Y Return (Ann) | 9.80% | 13.94% |
| Sharpe Ratio | 2.50 | 1.77 |
| Sortino Ratio | 3.52 | 2.45 |
| Omega Ratio | 1.46 | 1.31 |
| Calmar Ratio | 4.04 | 2.47 |
| Martin Ratio | 13.36 | 8.69 |
| Ulcer Index | 1.99% | 2.98% |
| Daily Std Dev | 10.64% | 14.64% |
| Max Drawdown | -33.72% | -32.14% |
| Current Drawdown | -0.28% | -0.42% |
Correlation
The correlation between EDOW and QQQE is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
EDOW vs. QQQE - Performance Comparison
In the year-to-date period, EDOW achieves a 14.55% return, which is significantly higher than QQQE's 11.46% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EDOW vs. QQQE - Expense Ratio Comparison
EDOW has a 0.50% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Risk-Adjusted Performance
EDOW vs. QQQE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dow 30 Equal Weight ETF (EDOW) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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
EDOW vs. QQQE - Dividend Comparison
EDOW's dividend yield for the trailing twelve months is around 1.78%, more than QQQE's 0.83% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDOW First Trust Dow 30 Equal Weight ETF | 1.78% | 1.93% | 1.91% | 1.52% | 1.84% | 1.89% | 1.82% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.83% | 0.79% | 0.97% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.75% | 1.36% | 0.38% |
Drawdowns
EDOW vs. QQQE - Drawdown Comparison
The maximum EDOW drawdown since its inception was -33.72%, roughly equal to the maximum QQQE drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for EDOW and QQQE. For additional features, visit the drawdowns tool.
Volatility
EDOW vs. QQQE - Volatility Comparison
The current volatility for First Trust Dow 30 Equal Weight ETF (EDOW) is 3.77%, while Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a volatility of 4.11%. This indicates that EDOW experiences smaller price fluctuations and is considered to be less risky than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.