EQAL vs. QQQM

Last updated Jun 4, 2026

EQAL (Invesco Russell 1000 Equal Weight ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - EQAL is a Mid Cap Blend Equities fund tracking the Russell 1000 Equal Weight Index, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, EQAL returned 6.86%/yr vs 18.07%/yr for QQQM. A 0.68 correlation means they provide meaningful diversification when combined. EQAL charges 0.20%/yr vs 0.15%/yr for QQQM.

Performance

EQAL vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Russell 1000 Equal Weight ETF (EQAL) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQAL achieves a 12.35% return, which is significantly lower than QQQM's 21.39% return.

EQAL

• 1D: -0.73%
• 1M: 1.77%
• YTD: 12.35%
• 6M: 12.78%
• 1Y: 24.33%
• 3Y*: 15.37%
• 5Y*: 6.86%
• 10Y*: 10.66%

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EQAL vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EQAL Invesco Russell 1000 Equal Weight ETF	12.35%	11.05%	11.38%	11.98%	-13.49%	23.14%	15.26%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Correlation

The correlation between EQAL and QQQM is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.68

The correlation between EQAL and QQQM shifts across timeframes, from 0.57 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

EQAL vs. QQQM - Sectors Allocation Comparison

Sectors	EQAL	QQQM
Technology	14.8%	53.8%
Industrials	9.5%	2.8%
Financial Services	9.4%	0.2%
Healthcare	9.4%	4.2%
Energy	9.1%	0.6%
Real Estate	9.1%	0.1%
Consumer Defensive	8.1%	7.7%
Basic Materials	8.0%	1.1%
Utilities	7.9%	1.4%
Consumer Cyclical	7.7%	12.3%
Communication Services	7.2%	15.8%

Return for Risk

EQAL vs. QQQM — Risk / Return Rank

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

EQAL

EQAL Risk / Return Rank: 63
EQAL Sharpe Ratio Rank: 58
EQAL Sortino Ratio Rank: 60
EQAL Omega Ratio Rank: 56
EQAL Calmar Ratio Rank: 72
EQAL Martin Ratio Rank: 69

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 71

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.

EQAL vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Russell 1000 Equal Weight ETF (EQAL) and Invesco NASDAQ 100 ETF (QQQM). 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.

	EQAL	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.65	-0.66
Sortino ratio: Return per unit of downside risk	2.85	3.46	-0.61
Omega ratio: Gain probability vs. loss probability	1.35	1.45	-0.11
Calmar ratio: Return relative to maximum drawdown	3.66	3.53	+0.14
Martin ratio: Return relative to average drawdown	12.89	13.52	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQAL vs. QQQM - Sharpe Ratio Comparison

The current EQAL Sharpe Ratio is 1.99, which is comparable to the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of EQAL and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EQAL	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.65	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.82	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.85	-0.34

Drawdowns

EQAL vs. QQQM - Drawdown Comparison

The maximum EQAL drawdown since its inception was -40.44%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for EQAL and QQQM.

Drawdown Indicators

	EQAL	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-40.44%	-35.04%	-5.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.67%	-11.96%	+5.29%
Max Drawdown (3Y) Largest decline over 3 years	-19.62%	-22.70%	+3.08%
Max Drawdown (5Y) Largest decline over 5 years	-21.79%	-35.04%	+13.25%
Max Drawdown (10Y) Largest decline over 10 years	-40.44%	—	—
Current Drawdown Current decline from peak	-0.73%	-0.20%	-0.53%
Average Drawdown Average peak-to-trough decline	-5.10%	-8.25%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	3.11%	-1.22%

Volatility

EQAL vs. QQQM - Volatility Comparison

The current volatility for Invesco Russell 1000 Equal Weight ETF (EQAL) is 3.05%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 4.48%. This indicates that EQAL experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQAL	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	4.48%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	12.05%	-3.44%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	15.91%	-3.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	22.24%	-4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	22.12%	-3.24%

EQAL vs. QQQM - Expense Ratio Comparison

EQAL has a 0.20% expense ratio, which is higher than QQQM's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EQAL vs. QQQM - Dividend Comparison

EQAL's dividend yield for the trailing twelve months is around 1.64%, more than QQQM's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQAL Invesco Russell 1000 Equal Weight ETF	1.64%	1.79%	1.62%	1.88%	1.95%	1.32%	1.63%	1.61%	1.62%	1.18%	1.57%	1.64%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQAL and QQQM in my portfolio?

EQAL and QQQM have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQAL or QQQM?

QQQM has higher volatility (4.48%) compared to EQAL (3.05%). In terms of maximum drawdown, EQAL dropped -40.44% vs QQQM's -35.04%.

Which ETF is better, EQAL or QQQM?

On 5-year performance, QQQM leads with 18.07% vs 6.86% for EQAL. On fees, QQQM is cheaper at 0.15% per year. On volatility, EQAL has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQAL or QQQM?

Over the 5-year period, QQQM has performed better with a 18.07% return vs 6.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQAL or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.20% for EQAL.

Which ETF pays a higher dividend yield, EQAL or QQQM?

EQAL has the higher dividend yield at 1.64%, compared with 0.41% for QQQM.

What is the main difference between EQAL and QQQM?

EQAL is categorized as Mid Cap Blend Equities, while QQQM is Nasdaq-100. EQAL tracks Russell 1000 Equal Weight Index, while QQQM tracks NASDAQ-100 Index. Their fees differ too: 0.20% for EQAL and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 1.99), 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.