ESTC vs. QQQ

Last updated Jun 24, 2026

ESTC (Elastic N.V.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, ESTC returned -16.65%/yr vs 16.01%/yr for QQQ. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

ESTC vs. QQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, ESTC achieves a -21.82% return, which is significantly lower than QQQ's 16.45% return.

ESTC

• 1D: 0.43%
• 1M: 7.61%
• YTD: -21.82%
• 6M: -23.39%
• 1Y: -28.18%
• 3Y*: -1.81%
• 5Y*: -16.65%
• 10Y*: —

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

ESTC vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ESTC Elastic N.V.	-21.82%	-23.86%	-12.09%	118.83%	-58.16%	-15.77%	127.26%	-10.04%	2.11%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-15.18%

Correlation

The correlation between ESTC and QQQ is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018	0.55

Over the past year, the correlation between ESTC and QQQ has dropped to 0.32 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

Return for Risk

ESTC vs. QQQ — Risk / Return Rank

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

ESTC

ESTC Risk / Return Rank: 21
ESTC Sharpe Ratio Rank: 18
ESTC Sortino Ratio Rank: 20
ESTC Omega Ratio Rank: 20
ESTC Calmar Ratio Rank: 24
ESTC Martin Ratio Rank: 22

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

ESTC vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elastic N.V. (ESTC) 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.

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.

	ESTC	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	1.95	-2.51
Sortino ratio: Return per unit of downside risk	-0.53	2.57	-3.09
Omega ratio: Gain probability vs. loss probability	0.93	1.35	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.52	2.93	-3.45
Martin ratio: Return relative to average drawdown	-0.98	10.86	-11.84

ESTC vs. QQQ - Sharpe Ratio Comparison

The current ESTC Sharpe Ratio is -0.56, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of ESTC 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.

Drawdowns

ESTC vs. QQQ - Drawdown Comparison

The maximum ESTC drawdown since its inception was -76.82%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for ESTC and QQQ.

Drawdown Indicators

	ESTC	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-76.82%	-82.97%	+6.15%
Max Drawdown (1Y) Largest decline over 1 year	-54.17%	-11.96%	-42.21%
Max Drawdown (3Y) Largest decline over 3 years	-67.64%	-22.77%	-44.87%
Max Drawdown (5Y) Largest decline over 5 years	-76.82%	-35.12%	-41.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-68.42%	-4.25%	-64.17%
Average Drawdown Average peak-to-trough decline	-40.08%	-32.73%	-7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.82%	3.22%	+25.60%

Volatility

ESTC vs. QQQ - Volatility Comparison

Elastic N.V. (ESTC) has a higher volatility of 17.68% compared to Invesco QQQ ETF (QQQ) at 9.17%. This indicates that ESTC'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.

Volatility by Period

	ESTC	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.68%	9.17%	+8.51%
Volatility (6M) Calculated over the trailing 6-month period	40.74%	14.57%	+26.17%
Volatility (1Y) Calculated over the trailing 1-year period	50.60%	17.96%	+32.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.95%	22.69%	+36.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.81%	22.42%	+35.39%

Dividends

ESTC vs. QQQ - Dividend Comparison

ESTC has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESTC Elastic N.V.	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	0.43%	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

Can I hold both ESTC and QQQ in my portfolio?

ESTC and QQQ have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESTC or QQQ?

ESTC has higher volatility (17.68%) compared to QQQ (9.17%). In terms of maximum drawdown, ESTC dropped -76.82% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.95 vs -0.56), 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.