HFND vs. QQQM

Last updated Jun 4, 2026

HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - HFND is a Multistrategy fund actively managed by Tidal ETFs, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. HFND is actively managed, while QQQM is passively managed. Over the past 3 years, HFND returned 10.00%/yr vs 28.89%/yr for QQQM. A 0.67 correlation means they provide meaningful diversification when combined. HFND charges 1.22%/yr vs 0.15%/yr for QQQM.

Performance

HFND vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFND achieves a 8.65% return, which is significantly lower than QQQM's 21.39% return.

HFND

• 1D: -0.45%
• 1M: 2.07%
• YTD: 8.65%
• 6M: 8.06%
• 1Y: 18.87%
• 3Y*: 10.00%
• 5Y*: —
• 10Y*: —

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

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

HFND vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	8.65%	8.93%	8.34%	3.58%	2.38%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	1.51%

Correlation

The correlation between HFND and QQQM is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.67

The correlation between HFND and QQQM has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

HFND vs. QQQM - Sectors Allocation Comparison

Sectors	HFND	QQQM
Financial Services	19.2%	0.2%
Technology	17.6%	53.8%
Industrials	13.5%	2.8%
Consumer Cyclical	11.0%	12.3%
Healthcare	8.8%	4.2%
Basic Materials	7.6%	1.1%
Utilities	5.6%	1.4%
Communication Services	5.5%	15.8%
Energy	5.5%	0.6%
Consumer Defensive	4.3%	7.7%
Real Estate	1.4%	0.1%

Return for Risk

HFND vs. QQQM — Risk / Return Rank

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

HFND

HFND Risk / Return Rank: 66
HFND Sharpe Ratio Rank: 59
HFND Sortino Ratio Rank: 59
HFND Omega Ratio Rank: 61
HFND Calmar Ratio Rank: 76
HFND Martin Ratio Rank: 75

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM 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.

HFND vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Invesco NASDAQ 100 ETF (QQQM). 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.

	HFND	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.65	-0.64
Sortino ratio: Return per unit of downside risk	2.85	3.46	-0.62
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	3.84	3.53	+0.31
Martin ratio: Return relative to average drawdown	14.31	13.52	+0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFND vs. QQQM - Sharpe Ratio Comparison

The current HFND Sharpe Ratio is 2.01, which is comparable to the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of HFND and QQQM, 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

	HFND	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	2.65	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.85	+0.09

Drawdowns

HFND vs. QQQM - Drawdown Comparison

The maximum HFND drawdown since its inception was -13.31%, smaller than the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for HFND and QQQM.

Drawdown Indicators

	HFND	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-35.04%	+21.73%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	-11.96%	+7.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	-22.70%	+9.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.04%	—
Current Drawdown Current decline from peak	-0.45%	-0.20%	-0.25%
Average Drawdown Average peak-to-trough decline	-2.10%	-8.25%	+6.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	3.11%	-1.79%

Volatility

HFND vs. QQQM - Volatility Comparison

The current volatility for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is 3.02%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 4.48%. This indicates that HFND experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFND	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	4.48%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	12.05%	-4.18%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	15.91%	-6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.47%	22.24%	-12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.47%	22.12%	-12.65%

HFND vs. QQQM - Expense Ratio Comparison

HFND has a 1.22% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

HFND vs. QQQM - Dividend Comparison

HFND's dividend yield for the trailing twelve months is around 4.68%, more than QQQM's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.68%	5.08%	3.70%	1.41%	0.43%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both HFND and QQQM in my portfolio?

HFND and QQQM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFND or QQQM?

QQQM has higher volatility (4.48%) compared to HFND (3.02%). In terms of maximum drawdown, HFND dropped -13.31% vs QQQM's -35.04%.

Which ETF is better, HFND or QQQM?

On 3-year performance, QQQM leads with 28.89% vs 10.00% for HFND. On fees, QQQM is cheaper at 0.15% per year. On volatility, HFND has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFND or QQQM?

Over the 3-year period, QQQM has performed better with a 28.89% return vs 10.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFND or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 1.22% for HFND.

Which ETF pays a higher dividend yield, HFND or QQQM?

HFND has the higher dividend yield at 4.68%, compared with 0.41% for QQQM.

What is the main difference between HFND and QQQM?

HFND is categorized as Multistrategy, while QQQM is Nasdaq-100. They also come from different issuers: Tidal ETFs and Invesco. Their fees differ too: 1.22% for HFND and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 2.01), 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.