GAW.L vs. EQQQ.L

Last updated Jun 5, 2026

GAW.L (Games Workshop Group plc) is a stock, while EQQQ.L (Invesco EQQQ NASDAQ-100 UCITS ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, GAW.L returned 50.49%/yr vs 22.47%/yr for EQQQ.L. At a 0.15 correlation, their price movements are largely independent.

Performance

GAW.L vs. EQQQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Games Workshop Group plc (GAW.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAW.L achieves a 1.82% return, which is significantly lower than EQQQ.L's 19.86% return. Over the past 10 years, GAW.L has outperformed EQQQ.L with an annualized return of 50.49%, while EQQQ.L has yielded a comparatively lower 22.47% annualized return.

GAW.L

• 1D: -1.34%
• 1M: -4.14%
• YTD: 1.82%
• 6M: -2.35%
• 1Y: 23.19%
• 3Y*: 30.74%
• 5Y*: 14.12%
• 10Y*: 50.49%

EQQQ.L

• 1D: -0.63%
• 1M: 9.63%
• YTD: 19.86%
• 6M: 18.38%
• 1Y: 41.62%
• 3Y*: 24.65%
• 5Y*: 18.87%
• 10Y*: 22.47%

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

GAW.L vs. EQQQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAW.L Games Workshop Group plc	1.82%	48.51%	40.33%	20.44%	-10.48%	-9.30%	87.31%	108.37%	20.84%	311.55%
EQQQ.L Invesco EQQQ NASDAQ-100 UCITS ETF	19.86%	11.54%	28.55%	47.79%	-25.54%	29.59%	43.32%	33.69%	4.64%	20.12%

Correlation

The correlation between GAW.L and EQQQ.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 25, 2005	0.15

The correlation between GAW.L and EQQQ.L shifts across timeframes, from 0.15 (all time) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GAW.L vs. EQQQ.L — Risk / Return Rank

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

GAW.L

GAW.L Risk / Return Rank: 68
GAW.L Sharpe Ratio Rank: 69
GAW.L Sortino Ratio Rank: 69
GAW.L Omega Ratio Rank: 66
GAW.L Calmar Ratio Rank: 67
GAW.L Martin Ratio Rank: 67

EQQQ.L

EQQQ.L Risk / Return Rank: 78
EQQQ.L Sharpe Ratio Rank: 86
EQQQ.L Sortino Ratio Rank: 84
EQQQ.L Omega Ratio Rank: 83
EQQQ.L Calmar Ratio Rank: 76
EQQQ.L Martin Ratio Rank: 63

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.

GAW.L vs. EQQQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Games Workshop Group plc (GAW.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.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.

	GAW.L	EQQQ.L	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.82	-1.94
Sortino ratio: Return per unit of downside risk	1.69	3.71	-2.02
Omega ratio: Gain probability vs. loss probability	1.20	1.50	-0.30
Calmar ratio: Return relative to maximum drawdown	1.38	3.78	-2.40
Martin ratio: Return relative to average drawdown	3.04	11.13	-8.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAW.L vs. EQQQ.L - Sharpe Ratio Comparison

The current GAW.L Sharpe Ratio is 0.88, which is lower than the EQQQ.L Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of GAW.L and EQQQ.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.

Sharpe Ratios by Period

	GAW.L	EQQQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	2.82	-1.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.99	-0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.42	1.16	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.92	-0.32

Drawdowns

GAW.L vs. EQQQ.L - Drawdown Comparison

The maximum GAW.L drawdown since its inception was -87.22%, which is greater than EQQQ.L's maximum drawdown of -33.75%. Use the drawdown chart below to compare losses from any high point for GAW.L and EQQQ.L.

Drawdown Indicators

	GAW.L	EQQQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-87.22%	-33.75%	-53.47%
Max Drawdown (1Y) Largest decline over 1 year	-16.76%	-10.97%	-5.79%
Max Drawdown (3Y) Largest decline over 3 years	-20.65%	-24.09%	+3.44%
Max Drawdown (5Y) Largest decline over 5 years	-51.53%	-27.76%	-23.77%
Max Drawdown (10Y) Largest decline over 10 years	-51.53%	-27.76%	-23.77%
Current Drawdown Current decline from peak	-7.46%	-0.63%	-6.83%
Average Drawdown Average peak-to-trough decline	-27.98%	-5.61%	-22.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.62%	3.73%	+3.89%

Volatility

GAW.L vs. EQQQ.L - Volatility Comparison

Games Workshop Group plc (GAW.L) has a higher volatility of 9.34% compared to Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) at 4.15%. This indicates that GAW.L's price experiences larger fluctuations and is considered to be riskier than EQQQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAW.L	EQQQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	4.15%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	16.70%	10.33%	+6.37%
Volatility (1Y) Calculated over the trailing 1-year period	26.49%	14.70%	+11.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.99%	19.14%	+11.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.36%	19.35%	+16.01%

Dividends

GAW.L vs. EQQQ.L - Dividend Comparison

GAW.L's dividend yield for the trailing twelve months is around 2.54%, more than EQQQ.L's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQQQ.L Invesco EQQQ NASDAQ-100 UCITS ETF	0.23%	0.29%	0.38%	0.39%	0.56%	0.25%	0.41%	0.56%	0.63%	0.67%	0.77%	0.72%
GAW.L Games Workshop Group plc	2.54%	3.49%	3.08%	4.51%	3.50%	1.96%	1.65%	2.62%	4.28%	5.32%	6.31%	6.15%

Frequently Asked Questions

Can I hold both GAW.L and EQQQ.L in my portfolio?

GAW.L and EQQQ.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.