IMFL vs. QQQ

Last updated Jun 4, 2026

IMFL (Invesco International Developed Dynamic Multifactor ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - IMFL is a Global Equities fund tracking the FTSE Developed ex US Invesco Dynamic Multifactor Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, IMFL returned 8.50%/yr vs 17.97%/yr for QQQ. A 0.62 correlation means they provide meaningful diversification when combined. IMFL charges 0.34%/yr vs 0.18%/yr for QQQ.

Performance

IMFL vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International Developed Dynamic Multifactor ETF (IMFL) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMFL achieves a 17.58% return, which is significantly lower than QQQ's 21.30% return.

IMFL

• 1D: -0.54%
• 1M: 5.50%
• YTD: 17.58%
• 6M: 20.95%
• 1Y: 33.05%
• 3Y*: 17.51%
• 5Y*: 8.50%
• 10Y*: —

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

IMFL vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IMFL Invesco International Developed Dynamic Multifactor ETF	17.58%	30.89%	-3.57%	25.51%	-17.32%	6.94%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	23.34%

Correlation

The correlation between IMFL and QQQ is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021	0.62

The correlation between IMFL and QQQ has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

IMFL vs. QQQ - Sectors Allocation Comparison

Sectors	IMFL	QQQ
Industrials	17.4%	2.8%
Technology	15.4%	53.8%
Healthcare	12.8%	4.2%
Consumer Defensive	11.6%	7.7%
Financial Services	11.0%	0.2%
Consumer Cyclical	7.5%	12.3%
Energy	5.9%	0.6%
Basic Materials	5.5%	1.1%
Utilities	3.9%	1.4%
Communication Services	3.6%	15.8%
Real Estate	1.5%	0.1%

Return for Risk

IMFL vs. QQQ — Risk / Return Rank

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

IMFL

IMFL Risk / Return Rank: 60
IMFL Sharpe Ratio Rank: 64
IMFL Sortino Ratio Rank: 61
IMFL Omega Ratio Rank: 61
IMFL Calmar Ratio Rank: 57
IMFL Martin Ratio Rank: 57

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ 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.

IMFL vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International Developed Dynamic Multifactor ETF (IMFL) and Invesco QQQ ETF (QQQ). 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.

	IMFL	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.64	-0.52
Sortino ratio: Return per unit of downside risk	2.88	3.45	-0.57
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.82	3.51	-0.69
Martin ratio: Return relative to average drawdown	9.97	13.49	-3.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMFL vs. QQQ - Sharpe Ratio Comparison

The current IMFL Sharpe Ratio is 2.12, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of IMFL and QQQ, 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

	IMFL	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.64	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.81	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.41	+0.21

Drawdowns

IMFL vs. QQQ - Drawdown Comparison

The maximum IMFL drawdown since its inception was -33.26%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for IMFL and QQQ.

Drawdown Indicators

	IMFL	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-82.97%	+49.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-11.96%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-22.77%	+9.25%
Max Drawdown (5Y) Largest decline over 5 years	-33.26%	-35.12%	+1.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.54%	-0.26%	-0.28%
Average Drawdown Average peak-to-trough decline	-7.24%	-32.79%	+25.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.11%	+0.21%

Volatility

IMFL vs. QQQ - Volatility Comparison

Invesco International Developed Dynamic Multifactor ETF (IMFL) has a higher volatility of 5.74% compared to Invesco QQQ ETF (QQQ) at 4.49%. This indicates that IMFL's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMFL	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	4.49%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	13.08%	12.10%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	15.71%	15.94%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	22.38%	-6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	22.29%	-6.30%

IMFL vs. QQQ - Expense Ratio Comparison

IMFL has a 0.34% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

IMFL vs. QQQ - Dividend Comparison

IMFL's dividend yield for the trailing twelve months is around 2.87%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMFL Invesco International Developed Dynamic Multifactor ETF	2.87%	2.88%	3.56%	3.85%	3.35%	3.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both IMFL and QQQ in my portfolio?

IMFL and QQQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMFL or QQQ?

IMFL has higher volatility (5.74%) compared to QQQ (4.49%). In terms of maximum drawdown, IMFL dropped -33.26% vs QQQ's -82.97%.

Which ETF is better, IMFL or QQQ?

On 5-year performance, QQQ leads with 17.97% vs 8.50% for IMFL. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMFL or QQQ?

Over the 5-year period, QQQ has performed better with a 17.97% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMFL or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.34% for IMFL.

Which ETF pays a higher dividend yield, IMFL or QQQ?

IMFL has the higher dividend yield at 2.87%, compared with 0.38% for QQQ.

What is the main difference between IMFL and QQQ?

IMFL is categorized as Global Equities, while QQQ is Nasdaq-100. IMFL tracks FTSE Developed ex US Invesco Dynamic Multifactor Index, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.34% for IMFL and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 2.12), 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.