EVAL.L vs. QQQ

Last updated Jun 5, 2026

EVAL.L (SPDR MSCI Europe Value UCITS ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - EVAL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, EVAL.L returned 11.80%/yr vs 22.74%/yr for QQQ. At a 0.32 correlation, their price movements are largely independent. EVAL.L charges 0.20%/yr vs 0.18%/yr for QQQ.

Performance

EVAL.L vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI Europe Value UCITS ETF (EVAL.L) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EVAL.L is traded in GBP, while QQQ is traded in USD. To make them comparable, the QQQ values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EVAL.L achieves a 11.21% return, which is significantly lower than QQQ's 21.20% return. Over the past 10 years, EVAL.L has underperformed QQQ with an annualized return of 11.80%, while QQQ has yielded a comparatively higher 22.74% annualized return.

EVAL.L

• 1D: 0.67%
• 1M: 4.21%
• YTD: 11.21%
• 6M: 14.15%
• 1Y: 34.42%
• 3Y*: 20.71%
• 5Y*: 14.15%
• 10Y*: 11.80%

QQQ

• 1D: -0.48%
• 1M: 9.65%
• YTD: 21.20%
• 6M: 18.37%
• 1Y: 42.10%
• 3Y*: 25.31%
• 5Y*: 19.13%
• 10Y*: 22.74%

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

EVAL.L vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVAL.L SPDR MSCI Europe Value UCITS ETF	11.21%	41.81%	4.36%	11.02%	1.33%	19.13%	-2.54%	16.22%	-13.77%	15.54%
QQQ Invesco QQQ ETF	21.20%	12.17%	27.77%	47.12%	-24.56%	28.63%	44.26%	33.67%	5.80%	21.19%

Correlation

The correlation between EVAL.L and QQQ is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015	0.32

The correlation between EVAL.L and QQQ shifts across timeframes, from 0.19 (3 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.

EVAL.L vs. QQQ - Sectors Allocation Comparison

Sectors	EVAL.L	QQQ
Financial Services	21.5%	0.2%
Industrials	18.0%	2.8%
Healthcare	13.2%	4.2%
Technology	10.6%	53.8%
Consumer Defensive	8.6%	7.7%
Consumer Cyclical	6.6%	12.3%
Basic Materials	6.2%	1.1%
Energy	5.5%	0.6%
Utilities	5.3%	1.4%
Communication Services	4.0%	15.8%
Real Estate	0.7%	0.1%

Return for Risk

EVAL.L vs. QQQ — Risk / Return Rank

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

EVAL.L

EVAL.L Risk / Return Rank: 76
EVAL.L Sharpe Ratio Rank: 82
EVAL.L Sortino Ratio Rank: 80
EVAL.L Omega Ratio Rank: 81
EVAL.L Calmar Ratio Rank: 69
EVAL.L Martin Ratio Rank: 69

QQQ

QQQ Risk / Return Rank: 74
QQQ Sharpe Ratio Rank: 80
QQQ Sortino Ratio Rank: 76
QQQ Omega Ratio Rank: 75
QQQ Calmar Ratio Rank: 70
QQQ 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.

EVAL.L vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Value UCITS ETF (EVAL.L) 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.

	EVAL.L	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.63	2.77	-0.14
Sortino ratio: Return per unit of downside risk	3.52	3.53	-0.01
Omega ratio: Gain probability vs. loss probability	1.47	1.49	-0.01
Calmar ratio: Return relative to maximum drawdown	3.39	3.56	-0.17
Martin ratio: Return relative to average drawdown	12.59	10.77	+1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVAL.L vs. QQQ - Sharpe Ratio Comparison

The current EVAL.L Sharpe Ratio is 2.63, which is comparable to the QQQ Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of EVAL.L 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.

Sharpe Ratios by Period

	EVAL.L	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	2.77	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.91	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	1.03	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.87	-0.50

Drawdowns

EVAL.L vs. QQQ - Drawdown Comparison

The maximum EVAL.L drawdown since its inception was -40.72%, which is greater than QQQ's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for EVAL.L and QQQ.

Drawdown Indicators

	EVAL.L	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-40.72%	-34.25%	-6.47%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-11.89%	+1.79%
Max Drawdown (3Y) Largest decline over 3 years	-14.35%	-24.87%	+10.52%
Max Drawdown (5Y) Largest decline over 5 years	-14.61%	-27.87%	+13.26%
Max Drawdown (10Y) Largest decline over 10 years	-37.77%	-27.87%	-9.90%
Current Drawdown Current decline from peak	-1.61%	-0.48%	-1.13%
Average Drawdown Average peak-to-trough decline	-11.10%	-5.47%	-5.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	3.92%	-1.19%

Volatility

EVAL.L vs. QQQ - Volatility Comparison

SPDR MSCI Europe Value UCITS ETF (EVAL.L) and Invesco QQQ ETF (QQQ) have volatilities of 4.12% and 3.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVAL.L	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	3.94%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	10.94%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	15.28%	-2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.45%	21.10%	-6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	22.22%	-5.25%

EVAL.L vs. QQQ - Expense Ratio Comparison

EVAL.L has a 0.20% expense ratio, which is higher than QQQ's 0.18% 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

EVAL.L vs. QQQ - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVAL.L SPDR MSCI Europe Value UCITS ETF	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

Can I hold both EVAL.L and QQQ in my portfolio?

EVAL.L and QQQ have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAL.L or QQQ?

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAL.L or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.20% for EVAL.L.

What is the main difference between EVAL.L and QQQ?

EVAL.L is categorized as Europe Equities, while QQQ is Nasdaq-100. EVAL.L tracks MSCI Europe Value NR EUR, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.20% for EVAL.L and 0.18% for QQQ.