FGSI vs. QQA

Last updated Jul 22, 2026

FGSI (First Trust Vest Growth Strength & Target Income ETF) and QQA (Invesco QQQ Income Advantage ETF) are both Derivative Income funds. Both are actively managed. Over the past year, FGSI returned 8.48% vs 22.09% for QQA. A 0.68 correlation means they provide meaningful diversification when combined. FGSI charges 0.85%/yr vs 0.29%/yr for QQA.

Performance

FGSI vs. QQA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Vest Growth Strength & Target Income ETF (FGSI) and Invesco QQQ Income Advantage ETF (QQA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGSI achieves a 6.58% return, which is significantly lower than QQA's 11.87% return.

FGSI

• 1D: 0.58%
• 1M: 1.99%
• 6M: 5.53%
• YTD: 6.58%
• 1Y: 8.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.64%

QQA

• 1D: 1.60%
• 1M: -2.54%
• 6M: 12.54%
• YTD: 11.87%
• 1Y: 22.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.78%

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

FGSI vs. QQA - Yearly Performance Comparison

	2026 (YTD)	2025
FGSI First Trust Vest Growth Strength & Target Income ETF	6.58%	4.53%
QQA Invesco QQQ Income Advantage ETF	11.87%	12.80%

Correlation

The correlation between FGSI and QQA is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.68

The correlation between FGSI and QQA has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.

FGSI vs. QQA - Sectors Allocation Comparison

Sectors	FGSI	QQA
Technology	31.9%	60.9%
Healthcare	18.2%	3.6%
Financial Services	16.0%	0.2%
Consumer Cyclical	13.3%	10.7%
Industrials	11.3%	2.7%
Communication Services	5.2%	13.1%
Energy	4.8%	0.5%
Consumer Defensive	2.5%	6.3%
Basic Materials	1.6%	1.0%
Real Estate	-	0.1%
Utilities	-	1.1%

Return for Risk

FGSI vs. QQA — Risk / Return Rank

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

FGSI

FGSI Risk / Return Rank: 27
FGSI Sharpe Ratio Rank: 26
FGSI Sortino Ratio Rank: 25
FGSI Omega Ratio Rank: 24
FGSI Calmar Ratio Rank: 29
FGSI Martin Ratio Rank: 32

QQA

QQA Risk / Return Rank: 64
QQA Sharpe Ratio Rank: 61
QQA Sortino Ratio Rank: 58
QQA Omega Ratio Rank: 58
QQA Calmar Ratio Rank: 68
QQA Martin Ratio Rank: 76

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.

FGSI vs. QQA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Vest Growth Strength & Target Income ETF (FGSI) and Invesco QQQ Income Advantage ETF (QQA). 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.

	FGSI	QQA	Difference
Sharpe ratio: Return per unit of total volatility	0.68	1.51	-0.83
Sortino ratio: Return per unit of downside risk	1.02	2.10	-1.08
Omega ratio: Gain probability vs. loss probability	1.12	1.27	-0.15
Calmar ratio: Return relative to maximum drawdown	1.03	2.53	-1.50
Martin ratio: Return relative to average drawdown	3.31	10.31	-7.00

FGSI vs. QQA - Sharpe Ratio Comparison

The current FGSI Sharpe Ratio is 0.68, which is lower than the QQA Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of FGSI and QQA, 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

FGSI vs. QQA - Drawdown Comparison

The maximum FGSI drawdown since its inception was -8.25%, smaller than the maximum QQA drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for FGSI and QQA.

Drawdown Indicators

	FGSI	QQA	Difference
Max Drawdown Largest peak-to-trough decline	-8.25%	-19.73%	+11.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-8.76%	+0.51%
Current Drawdown Current decline from peak	-1.06%	-2.55%	+1.49%
Average Drawdown Average peak-to-trough decline	-1.87%	-2.52%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.15%	+0.42%

Volatility

FGSI vs. QQA - Volatility Comparison

The current volatility for First Trust Vest Growth Strength & Target Income ETF (FGSI) is 3.28%, while Invesco QQQ Income Advantage ETF (QQA) has a volatility of 5.49%. This indicates that FGSI experiences smaller price fluctuations and is considered to be less risky than QQA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGSI	QQA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	5.49%	-2.21%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	12.21%	-2.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	14.70%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.41%	18.59%	-6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.41%	18.59%	-6.18%

FGSI vs. QQA - Expense Ratio Comparison

FGSI has a 0.85% expense ratio, which is higher than QQA's 0.29% expense ratio.

Dividends

FGSI vs. QQA - Dividend Comparison

FGSI's dividend yield for the trailing twelve months is around 8.95%, less than QQA's 9.90% yield.

Position	TTM	2025	2024
FGSI First Trust Vest Growth Strength & Target Income ETF	8.95%	4.20%	0.00%
QQA Invesco QQQ Income Advantage ETF	9.90%	9.78%	4.29%

Frequently Asked Questions

Can I hold both FGSI and QQA in my portfolio?

FGSI and QQA have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGSI or QQA?

QQA has higher volatility (5.49%) compared to FGSI (3.28%). In terms of maximum drawdown, FGSI dropped -8.25% vs QQA's -19.73%.

Which ETF is better, FGSI or QQA?

On 1-year performance, QQA leads with 22.09% vs 8.48% for FGSI. On fees, QQA is cheaper at 0.29% per year. On volatility, FGSI has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FGSI or QQA?

Over the 1-year period, QQA has performed better with a 22.09% return vs 8.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FGSI or QQA?

QQA is cheaper with a 0.29% expense ratio, compared with 0.85% for FGSI.

Which ETF pays a higher dividend yield, FGSI or QQA?

QQA has the higher dividend yield at 9.90%, compared with 8.95% for FGSI.

What is the main difference between FGSI and QQA?

They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.85% for FGSI and 0.29% for QQA.

Which has better risk-adjusted returns?

QQA currently has the higher Sharpe Ratio (1.51 vs 0.68), 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.