IBBQ vs. QQQX

Last updated Jun 3, 2026

IBBQ (Invesco Nasdaq Biotechnology ETF) and QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund) are both funds - IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology, while QQQX is a Large Cap Growth Equities fund tracking the Nasdaq 100 Index. Both are passively managed. Over the past 3 years, IBBQ returned 11.95%/yr vs 17.11%/yr for QQQX. At a 0.47 correlation, their price movements are largely independent. IBBQ charges 0.00%/yr vs 0.92%/yr for QQQX.

Performance

IBBQ vs. QQQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotechnology ETF (IBBQ) and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBBQ achieves a 0.14% return, which is significantly lower than QQQX's 13.61% return.

IBBQ

• 1D: -2.91%
• 1M: -1.52%
• YTD: 0.14%
• 6M: 1.13%
• 1Y: 38.35%
• 3Y*: 11.95%
• 5Y*: —
• 10Y*: —

QQQX

• 1D: 0.25%
• 1M: 4.90%
• YTD: 13.61%
• 6M: 17.29%
• 1Y: 35.86%
• 3Y*: 17.11%
• 5Y*: 10.20%
• 10Y*: 13.66%

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

IBBQ vs. QQQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IBBQ Invesco Nasdaq Biotechnology ETF	0.14%	33.32%	-0.63%	4.73%	-10.41%	-6.72%
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	13.61%	14.87%	25.61%	21.68%	-27.39%	8.43%

Correlation

The correlation between IBBQ and QQQX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.47

The correlation between IBBQ and QQQX shifts across timeframes, from 0.35 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IBBQ vs. QQQX — Risk / Return Rank

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

IBBQ

IBBQ Risk / Return Rank: 67
IBBQ Sharpe Ratio Rank: 58
IBBQ Sortino Ratio Rank: 58
IBBQ Omega Ratio Rank: 52
IBBQ Calmar Ratio Rank: 86
IBBQ Martin Ratio Rank: 80

QQQX

QQQX Risk / Return Rank: 78
QQQX Sharpe Ratio Rank: 72
QQQX Sortino Ratio Rank: 73
QQQX Omega Ratio Rank: 69
QQQX Calmar Ratio Rank: 85
QQQX Martin Ratio Rank: 91

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.

IBBQ vs. QQQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX). 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.

	IBBQ	QQQX	Difference
Sharpe ratio Return per unit of total volatility	1.97	2.47	-0.50
Sortino ratio Return per unit of downside risk	2.78	3.56	-0.78
Omega ratio Gain probability vs. loss probability	1.33	1.46	-0.13
Calmar ratio Return relative to maximum drawdown	4.89	4.02	+0.87
Martin ratio Return relative to average drawdown	16.17	18.86	-2.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBBQ vs. QQQX - Sharpe Ratio Comparison

The current IBBQ Sharpe Ratio is 1.97, which is comparable to the QQQX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of IBBQ and QQQX, 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

	IBBQ	QQQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.47	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.49	-0.35

Drawdowns

IBBQ vs. QQQX - Drawdown Comparison

The maximum IBBQ drawdown since its inception was -37.94%, smaller than the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for IBBQ and QQQX.

Drawdown Indicators

	IBBQ	QQQX	Difference
Max Drawdown Largest peak-to-trough decline	-37.94%	-57.25%	+19.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-9.11%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	-22.80%	-0.86%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.96%	—
Current Drawdown Current decline from peak	-6.82%	-0.19%	-6.63%
Average Drawdown Average peak-to-trough decline	-16.83%	-8.02%	-8.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	1.94%	+0.58%

Volatility

IBBQ vs. QQQX - Volatility Comparison

Invesco Nasdaq Biotechnology ETF (IBBQ) has a higher volatility of 6.88% compared to Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) at 3.90%. This indicates that IBBQ's price experiences larger fluctuations and is considered to be riskier than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBBQ	QQQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.88%	3.90%	+2.98%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	11.47%	+3.74%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	14.60%	+5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.85%	19.81%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	21.06%	+0.79%

IBBQ vs. QQQX - Expense Ratio Comparison

IBBQ has a 0.00% expense ratio, which is lower than QQQX's 0.92% expense ratio.

Dividends

IBBQ vs. QQQX - Dividend Comparison

IBBQ's dividend yield for the trailing twelve months is around 0.88%, less than QQQX's 7.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBBQ Invesco Nasdaq Biotechnology ETF	0.88%	0.90%	1.14%	0.81%	0.76%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	7.24%	7.85%	6.73%	7.26%	9.66%	5.85%	6.00%	6.49%	8.40%	5.95%	7.54%	7.23%

Frequently Asked Questions

Can I hold both IBBQ and QQQX in my portfolio?

IBBQ and QQQX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBBQ or QQQX?

IBBQ has higher volatility (6.88%) compared to QQQX (3.90%). In terms of maximum drawdown, IBBQ dropped -37.94% vs QQQX's -57.25%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (2.47 vs 1.97), 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.