IQQQ vs. MGK

Last updated Jun 28, 2026

IQQQ (ProShares Nasdaq-100 High Income ETF) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past year, IQQQ returned 26.55% vs 16.13% for MGK. Their correlation of 0.95 suggests significant overlap in exposure. IQQQ charges 0.55%/yr vs 0.05%/yr for MGK.

Performance

IQQQ vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 High Income ETF (IQQQ) and Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQQQ achieves a 12.97% return, which is significantly higher than MGK's 2.27% return.

IQQQ

• 1D: -0.86%
• 1M: -4.09%
• YTD: 12.97%
• 6M: 11.34%
• 1Y: 26.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MGK

• 1D: 0.00%
• 1M: -7.58%
• YTD: 2.27%
• 6M: 0.79%
• 1Y: 16.13%
• 3Y*: 22.71%
• 5Y*: 13.55%
• 10Y*: 18.78%

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

IQQQ vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	12.97%	17.11%	14.82%
MGK Vanguard Mega Cap Growth ETF	2.27%	20.67%	20.38%

Correlation

The correlation between IQQQ and MGK is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.95

The correlation between IQQQ and MGK has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

IQQQ vs. MGK — Risk / Return Rank

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

IQQQ

IQQQ Risk / Return Rank: 51
IQQQ Sharpe Ratio Rank: 52
IQQQ Sortino Ratio Rank: 47
IQQQ Omega Ratio Rank: 48
IQQQ Calmar Ratio Rank: 56
IQQQ Martin Ratio Rank: 53

MGK

MGK Risk / Return Rank: 26
MGK Sharpe Ratio Rank: 28
MGK Sortino Ratio Rank: 26
MGK Omega Ratio Rank: 26
MGK Calmar Ratio Rank: 22
MGK Martin Ratio Rank: 26

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.

IQQQ vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) and Vanguard Mega Cap Growth ETF (MGK). 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.

	IQQQ	MGK	Difference
Sharpe ratio: Return per unit of total volatility	1.60	0.98	+0.62
Sortino ratio: Return per unit of downside risk	2.12	1.41	+0.71
Omega ratio: Gain probability vs. loss probability	1.28	1.18	+0.10
Calmar ratio: Return relative to maximum drawdown	2.45	1.00	+1.45
Martin ratio: Return relative to average drawdown	8.28	3.30	+4.99

IQQQ vs. MGK - Sharpe Ratio Comparison

The current IQQQ Sharpe Ratio is 1.60, which is higher than the MGK Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of IQQQ and MGK, 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

IQQQ vs. MGK - Drawdown Comparison

The maximum IQQQ drawdown since its inception was -20.41%, smaller than the maximum MGK drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for IQQQ and MGK.

Drawdown Indicators

	IQQQ	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	-48.43%	+28.02%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-16.85%	+5.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.01%	—
Current Drawdown Current decline from peak	-5.13%	-8.37%	+3.24%
Average Drawdown Average peak-to-trough decline	-3.63%	-7.58%	+3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	5.10%	-1.82%

Volatility

IQQQ vs. MGK - Volatility Comparison

ProShares Nasdaq-100 High Income ETF (IQQQ) has a higher volatility of 8.24% compared to Vanguard Mega Cap Growth ETF (MGK) at 7.04%. This indicates that IQQQ's price experiences larger fluctuations and is considered to be riskier than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQQ	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	7.04%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	13.69%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	17.26%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	22.80%	-3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	21.94%	-2.89%

IQQQ vs. MGK - Expense Ratio Comparison

IQQQ has a 0.55% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

IQQQ vs. MGK - Dividend Comparison

IQQQ's dividend yield for the trailing twelve months is around 4.65%, more than MGK's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQQQ ProShares Nasdaq-100 High Income ETF	4.65%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MGK Vanguard Mega Cap Growth ETF	0.44%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%

Frequently Asked Questions

Can I hold both IQQQ and MGK in my portfolio?

With a correlation of 0.93, IQQQ and MGK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IQQQ or MGK?

IQQQ has higher volatility (8.24%) compared to MGK (7.04%). In terms of maximum drawdown, IQQQ dropped -20.41% vs MGK's -48.43%.

Which ETF is better, IQQQ or MGK?

On 1-year performance, IQQQ leads with 26.55% vs 16.13% for MGK. On fees, MGK is cheaper at 0.05% per year. On volatility, MGK has been the lower-risk option at 7.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQQQ or MGK?

Over the 1-year period, IQQQ has performed better with a 26.55% return vs 16.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQQQ or MGK?

MGK is cheaper with a 0.05% expense ratio, compared with 0.55% for IQQQ.

Which ETF pays a higher dividend yield, IQQQ or MGK?

IQQQ has the higher dividend yield at 4.65%, compared with 0.44% for MGK.

What is the main difference between IQQQ and MGK?

IQQQ is categorized as Nasdaq-100, while MGK is Large Cap Growth Equities. IQQQ tracks Nasdaq-100 Daily Covered Call Index, while MGK tracks CRSP US Mega Cap Growth Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.55% for IQQQ and 0.05% for MGK.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.60 vs 0.98), 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.