HCOW vs. QQQI

Last updated Jul 14, 2026

HCOW (Amplify Cash Flow High Income ETF) and QQQI (NEOS Nasdaq-100 High Income ETF) are both exchange-traded funds - HCOW is a Large Cap Value Equities fund actively managed by Amplify, while QQQI is a Nasdaq-100 fund actively managed by Neos. Both are actively managed. Over the past year, HCOW returned 14.88% vs 22.03% for QQQI. At a 0.47 correlation, their price movements are largely independent. HCOW charges 0.65%/yr vs 0.68%/yr for QQQI.

Performance

HCOW vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Cash Flow High Income ETF (HCOW) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCOW achieves a 6.22% return, which is significantly lower than QQQI's 10.40% return.

HCOW

• 1D: 0.53%
• 1M: 0.75%
• 6M: 4.58%
• YTD: 6.22%
• 1Y: 14.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQI

• 1D: -1.69%
• 1M: -0.16%
• 6M: 8.70%
• YTD: 10.40%
• 1Y: 22.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCOW vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HCOW Amplify Cash Flow High Income ETF	6.22%	5.76%	7.54%
QQQI NEOS Nasdaq-100 High Income ETF	10.40%	18.62%	19.44%

Correlation

The correlation between HCOW and QQQI is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.47

HCOW vs. QQQI - Sectors Allocation Comparison

Sectors	HCOW	QQQI
Technology	25.6%	58.1%
Industrials	18.5%	3.0%
Financial Services	16.7%	0.2%
Consumer Cyclical	9.7%	11.3%
Healthcare	7.7%	3.9%
Energy	7.0%	0.5%
Basic Materials	5.9%	1.0%
Communication Services	4.2%	14.2%
Consumer Defensive	2.5%	6.5%
Utilities	2.3%	1.3%
Real Estate	-	0.1%

Return for Risk

HCOW vs. QQQI — Risk / Return Rank

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

HCOW

HCOW Risk / Return Rank: 46
HCOW Sharpe Ratio Rank: 38
HCOW Sortino Ratio Rank: 39
HCOW Omega Ratio Rank: 37
HCOW Calmar Ratio Rank: 60
HCOW Martin Ratio Rank: 55

QQQI

QQQI Risk / Return Rank: 56
QQQI Sharpe Ratio Rank: 52
QQQI Sortino Ratio Rank: 49
QQQI Omega Ratio Rank: 53
QQQI Calmar Ratio Rank: 58
QQQI Martin Ratio Rank: 66

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.

HCOW vs. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow High Income ETF (HCOW) and NEOS Nasdaq-100 High Income ETF (QQQI). 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.

	HCOW	QQQI	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.44	-0.34
Sortino ratio: Return per unit of downside risk	1.65	1.96	-0.30
Omega ratio: Gain probability vs. loss probability	1.20	1.27	-0.07
Calmar ratio: Return relative to maximum drawdown	2.38	2.30	+0.07
Martin ratio: Return relative to average drawdown	7.57	9.51	-1.94

HCOW vs. QQQI - Sharpe Ratio Comparison

The current HCOW Sharpe Ratio is 1.10, which is comparable to the QQQI Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of HCOW and QQQI, 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

HCOW vs. QQQI - Drawdown Comparison

The maximum HCOW drawdown since its inception was -24.15%, which is greater than QQQI's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for HCOW and QQQI.

Drawdown Indicators

	HCOW	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-24.15%	-20.00%	-4.15%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-9.61%	+3.32%
Current Drawdown Current decline from peak	0.00%	-2.84%	+2.84%
Average Drawdown Average peak-to-trough decline	-4.81%	-2.21%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.32%	-0.34%

Volatility

HCOW vs. QQQI - Volatility Comparison

The current volatility for Amplify Cash Flow High Income ETF (HCOW) is 2.92%, while NEOS Nasdaq-100 High Income ETF (QQQI) has a volatility of 7.43%. This indicates that HCOW experiences smaller price fluctuations and is considered to be less risky than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCOW	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	7.43%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	12.76%	-3.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.66%	15.44%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.42%	17.60%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	17.60%	-0.18%

HCOW vs. QQQI - Expense Ratio Comparison

HCOW has a 0.65% expense ratio, which is lower than QQQI's 0.68% expense ratio.

Dividends

HCOW vs. QQQI - Dividend Comparison

HCOW's dividend yield for the trailing twelve months is around 11.87%, less than QQQI's 13.76% yield.

Position	TTM	2025	2024	2023
HCOW Amplify Cash Flow High Income ETF	11.87%	10.88%	8.13%	1.99%
QQQI NEOS Nasdaq-100 High Income ETF	13.76%	13.82%	12.85%	0.00%

Frequently Asked Questions

Can I hold both HCOW and QQQI in my portfolio?

HCOW and QQQI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCOW or QQQI?

QQQI has higher volatility (7.43%) compared to HCOW (2.92%). In terms of maximum drawdown, HCOW dropped -24.15% vs QQQI's -20.00%.

Which ETF is better, HCOW or QQQI?

On 1-year performance, QQQI leads with 22.03% vs 14.88% for HCOW. On fees, HCOW is cheaper at 0.65% per year. On volatility, HCOW has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCOW or QQQI?

Over the 1-year period, QQQI has performed better with a 22.03% return vs 14.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCOW or QQQI?

HCOW is cheaper with a 0.65% expense ratio, compared with 0.68% for QQQI.

Which ETF pays a higher dividend yield, HCOW or QQQI?

QQQI has the higher dividend yield at 13.76%, compared with 11.87% for HCOW.

What is the main difference between HCOW and QQQI?

HCOW is categorized as Large Cap Value Equities, while QQQI is Nasdaq-100. They also come from different issuers: Amplify and Neos. Their fees differ too: 0.65% for HCOW and 0.68% for QQQI.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (1.44 vs 1.10), 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.