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EWU vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWU vs. QQQ

Last updated Jun 5, 2026

EWU (iShares MSCI United Kingdom ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - EWU is a Europe Equities fund tracking the MSCI United Kingdom Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, EWU returned 7.86%/yr vs 21.84%/yr for QQQ. A 0.55 correlation means they provide meaningful diversification when combined. EWU charges 0.50%/yr vs 0.18%/yr for QQQ.

Performance

EWU vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI United Kingdom ETF (EWU) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EWU achieves a 6.59% return, which is significantly lower than QQQ's 20.71% return. Over the past 10 years, EWU has underperformed QQQ with an annualized return of 7.86%, while QQQ has yielded a comparatively higher 21.84% annualized return.

EWU

1D
0.99%
1M
0.93%
YTD
6.59%
6M
10.05%
1Y
21.33%
3Y*
17.73%
5Y*
10.86%
10Y*
7.86%

QQQ

1D
-0.48%
1M
8.66%
YTD
20.71%
6M
19.19%
1Y
40.74%
3Y*
28.54%
5Y*
17.86%
10Y*
21.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWU vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWU
iShares MSCI United Kingdom ETF		6.59%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-14.30%21.54%
QQQ
Invesco QQQ ETF		20.71%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between EWU and QQQ is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Mar 11, 1999

0.55

The correlation between EWU and QQQ has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

EWU vs. QQQ - Sectors Allocation Comparison

Sectors
EWU
QQQ

Financial Services

26.0%
0.2%

Consumer Defensive

14.2%
7.7%

Healthcare

13.9%
4.2%

Industrials

12.1%
2.8%

Energy

11.0%
0.6%

Basic Materials

9.3%
1.1%

Utilities

5.1%
1.4%

Consumer Cyclical

4.0%
12.3%

Communication Services

2.4%
15.8%

Technology

0.6%
53.8%

Real Estate

0.6%
0.1%

Financial Services

EWU
26.0%
QQQ
0.2%

Consumer Defensive

EWU
14.2%
QQQ
7.7%

Healthcare

EWU
13.9%
QQQ
4.2%

Industrials

EWU
12.1%
QQQ
2.8%

Energy

EWU
11.0%
QQQ
0.6%

Basic Materials

EWU
9.3%
QQQ
1.1%

Utilities

EWU
5.1%
QQQ
1.4%

Consumer Cyclical

EWU
4.0%
QQQ
12.3%

Communication Services

EWU
2.4%
QQQ
15.8%

Technology

EWU
0.6%
QQQ
53.8%

Real Estate

EWU
0.6%
QQQ
0.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI United Kingdom ETF

Invesco QQQ ETF

Often compared with EWU:
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Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

EWU vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWU
EWU Risk / Return Rank: 4444
Overall Rank
EWU Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 4343
Sortino Ratio Rank
EWU Omega Ratio Rank: 4141
Omega Ratio Rank
EWU Calmar Ratio Rank: 4444
Calmar Ratio Rank
EWU Martin Ratio Rank: 4848
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7474
Overall Rank
QQQ Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7676
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7575
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7070
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
Martin Ratio Rank
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.

EWU vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI United Kingdom ETF (EWU) 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.

EWUQQQDifference
Sharpe ratioReturn per unit of total volatility
1.49
2.57

-1.08

Sortino ratioReturn per unit of downside risk
2.12
3.37

-1.25

Omega ratioGain probability vs. loss probability

1.26

1.44

-0.18

Calmar ratioReturn relative to maximum drawdown

2.16

3.42

-1.26

Martin ratioReturn relative to average drawdown

7.80

13.14

-5.34

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWU vs. QQQ - Sharpe Ratio Comparison

The current EWU Sharpe Ratio is 1.49, which is lower than the QQQ Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of EWU 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.

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Sharpe Ratios by Period

EWUQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

2.57

-1.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.80

-0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

0.98

-0.56

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.41

-0.15

Drawdowns

EWU vs. QQQ - Drawdown Comparison

The maximum EWU drawdown since its inception was -63.99%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for EWU and QQQ.

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Drawdown Indicators

EWUQQQDifference

Max Drawdown

Largest peak-to-trough decline

-63.99%

-82.97%

+18.98%

Max Drawdown (1Y)

Largest decline over 1 year

-9.92%

-11.96%

+2.04%

Max Drawdown (3Y)

Largest decline over 3 years

-12.63%

-22.77%

+10.14%

Max Drawdown (5Y)

Largest decline over 5 years

-24.91%

-35.12%

+10.21%

Max Drawdown (10Y)

Largest decline over 10 years

-43.33%

-35.12%

-8.21%

Current Drawdown

Current decline from peak

-3.70%

-0.74%

-2.96%

Average Drawdown

Average peak-to-trough decline

-14.16%

-32.78%

+18.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.74%

3.11%

-0.37%

Volatility

EWU vs. QQQ - Volatility Comparison

iShares MSCI United Kingdom ETF (EWU) has a higher volatility of 5.64% compared to Invesco QQQ ETF (QQQ) at 4.51%. This indicates that EWU'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.

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Volatility by Period

EWUQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

4.51%

+1.13%

Volatility (6M)

Calculated over the trailing 6-month period

12.33%

12.10%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

14.40%

15.94%

-1.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.43%

22.37%

-5.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.84%

22.29%

-3.45%

EWU vs. QQQ - Expense Ratio Comparison

EWU has a 0.50% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

EWU vs. QQQ - Dividend Comparison

EWU's dividend yield for the trailing twelve months is around 3.50%, more than QQQ's 0.38% yield.

PositionTTM20252024202320222021202020192018201720162015
EWU
iShares MSCI United Kingdom ETF		3.50%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%
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

EWU and QQQ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWU has higher volatility (5.64%) compared to QQQ (4.51%). In terms of maximum drawdown, EWU dropped -63.99% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 21.84% vs 7.86% for EWU. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 21.84% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.50% for EWU.

EWU has the higher dividend yield at 3.50%, compared with 0.38% for QQQ.

EWU is categorized as Europe Equities, while QQQ is Nasdaq-100. EWU tracks MSCI United Kingdom Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for EWU and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (2.57 vs 1.49), 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.

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