EQQJ.L vs. USPY.L

Last updated Jul 18, 2026

EQQJ.L (Invesco NASDAQ Next Generation 100 UCITS ETF Acc) and USPY.L (L&G Cyber Security UCITS ETF USD (Acc)) are both exchange-traded funds - EQQJ.L is a Mid Cap Growth Equities fund tracking the Nasdaq Next Generation 100 Index, while USPY.L is a Technology Equities fund tracking the Nasdaq ISE Cyber Security UCITS Net Total Return Index. Both are passively managed. Over the past 5 years, EQQJ.L returned 6.38%/yr vs 12.05%/yr for USPY.L. A 0.78 correlation means they provide meaningful diversification when combined. EQQJ.L charges 0.25%/yr vs 0.69%/yr for USPY.L.

Performance

EQQJ.L vs. USPY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Next Generation 100 UCITS ETF Acc (EQQJ.L) and L&G Cyber Security UCITS ETF USD (Acc) (USPY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQQJ.L achieves a 18.08% return, which is significantly lower than USPY.L's 43.57% return.

EQQJ.L

• 1D: -0.97%
• 1M: -2.37%
• 6M: 11.24%
• YTD: 18.08%
• 1Y: 34.66%
• 3Y*: 18.25%
• 5Y*: 6.38%
• 10Y*: —

USPY.L

• 1D: -1.07%
• 1M: 10.66%
• 6M: 46.46%
• YTD: 43.57%
• 1Y: 40.35%
• 3Y*: 28.12%
• 5Y*: 12.05%
• 10Y*: 17.00%

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

EQQJ.L vs. USPY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EQQJ.L Invesco NASDAQ Next Generation 100 UCITS ETF Acc	18.08%	20.31%	14.94%	14.56%	-28.82%	1.92%
USPY.L L&G Cyber Security UCITS ETF USD (Acc)	43.57%	7.58%	17.82%	42.25%	-32.63%	7.76%

Correlation

The correlation between EQQJ.L and USPY.L 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	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Mar 22, 2021	0.78

Over the past year, the correlation between EQQJ.L and USPY.L has dropped to 0.57 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

EQQJ.L vs. USPY.L — Risk / Return Rank

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

EQQJ.L

EQQJ.L Risk / Return Rank: 79
EQQJ.L Sharpe Ratio Rank: 80
EQQJ.L Sortino Ratio Rank: 81
EQQJ.L Omega Ratio Rank: 73
EQQJ.L Calmar Ratio Rank: 79
EQQJ.L Martin Ratio Rank: 83

USPY.L

USPY.L Risk / Return Rank: 55
USPY.L Sharpe Ratio Rank: 56
USPY.L Sortino Ratio Rank: 55
USPY.L Omega Ratio Rank: 57
USPY.L Calmar Ratio Rank: 59
USPY.L Martin Ratio Rank: 47

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.

EQQJ.L vs. USPY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Next Generation 100 UCITS ETF Acc (EQQJ.L) and L&G Cyber Security UCITS ETF USD (Acc) (USPY.L). 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.

	EQQJ.L	USPY.L	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.42	+0.50
Sortino ratio: Return per unit of downside risk	2.79	2.02	+0.77
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	3.09	2.22	+0.87
Martin ratio: Return relative to average drawdown	12.04	5.76	+6.28

EQQJ.L vs. USPY.L - Sharpe Ratio Comparison

The current EQQJ.L Sharpe Ratio is 1.92, which is higher than the USPY.L Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of EQQJ.L and USPY.L, 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

EQQJ.L vs. USPY.L - Drawdown Comparison

The maximum EQQJ.L drawdown since its inception was -38.51%, roughly equal to the maximum USPY.L drawdown of -39.35%. Use the drawdown chart below to compare losses from any high point for EQQJ.L and USPY.L.

Drawdown Indicators

	EQQJ.L	USPY.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.51%	-39.35%	+0.84%
Max Drawdown (1Y) Largest decline over 1 year	-11.15%	-18.08%	+6.93%
Max Drawdown (3Y) Largest decline over 3 years	-22.96%	-27.03%	+4.07%
Max Drawdown (5Y) Largest decline over 5 years	-38.51%	-39.35%	+0.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.35%	—
Current Drawdown Current decline from peak	-4.62%	-4.82%	+0.20%
Average Drawdown Average peak-to-trough decline	-16.35%	-9.82%	-6.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	6.99%	-4.12%

Volatility

EQQJ.L vs. USPY.L - Volatility Comparison

The current volatility for Invesco NASDAQ Next Generation 100 UCITS ETF Acc (EQQJ.L) is 4.99%, while L&G Cyber Security UCITS ETF USD (Acc) (USPY.L) has a volatility of 11.35%. This indicates that EQQJ.L experiences smaller price fluctuations and is considered to be less risky than USPY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQQJ.L	USPY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	11.35%	-6.36%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	25.32%	-10.47%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	28.28%	-10.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	26.09%	-4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.26%	23.57%	-2.31%

EQQJ.L vs. USPY.L - Expense Ratio Comparison

EQQJ.L has a 0.25% expense ratio, which is lower than USPY.L's 0.69% expense ratio.

Dividends

EQQJ.L vs. USPY.L - Dividend Comparison

Neither EQQJ.L nor USPY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EQQJ.L and USPY.L in my portfolio?

EQQJ.L and USPY.L 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 ETF is better, EQQJ.L or USPY.L?

On fees, EQQJ.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQQJ.L or USPY.L?

EQQJ.L is cheaper with a 0.25% expense ratio, compared with 0.69% for USPY.L.

What is the main difference between EQQJ.L and USPY.L?

EQQJ.L is categorized as Mid Cap Growth Equities, while USPY.L is Technology Equities. EQQJ.L tracks Nasdaq Next Generation 100 Index, while USPY.L tracks Nasdaq ISE Cyber Security UCITS Net Total Return Index. They also come from different issuers: Invesco and L&G. Their fees differ too: 0.25% for EQQJ.L and 0.69% for USPY.L.