IQQQ vs. QQQE

Last updated Jun 26, 2026

IQQQ (ProShares Nasdaq-100 High Income ETF) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both Nasdaq-100 funds - IQQQ tracks the Nasdaq-100 Daily Covered Call Index while QQQE tracks the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past year, IQQQ returned 29.47% vs 24.45% for QQQE. Their correlation of 0.89 suggests significant overlap in exposure. IQQQ charges 0.55%/yr vs 0.35%/yr for QQQE.

Performance

IQQQ vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 High Income ETF (IQQQ) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IQQQ achieves a 13.95% return, which is significantly lower than QQQE's 17.16% return.

IQQQ

• 1D: 0.87%
• 1M: -2.10%
• YTD: 13.95%
• 6M: 12.28%
• 1Y: 29.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQE

• 1D: 0.68%
• 1M: 1.10%
• YTD: 17.16%
• 6M: 15.52%
• 1Y: 24.45%
• 3Y*: 17.83%
• 5Y*: 9.20%
• 10Y*: 16.24%

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

IQQQ vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IQQQ ProShares Nasdaq-100 High Income ETF	13.95%	17.11%	14.82%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	17.16%	14.58%	2.98%

Correlation

The correlation between IQQQ and QQQE is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.89

The correlation between IQQQ and QQQE has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

IQQQ vs. QQQE — Risk / Return Rank

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

IQQQ

IQQQ Risk / Return Rank: 58
IQQQ Sharpe Ratio Rank: 61
IQQQ Sortino Ratio Rank: 54
IQQQ Omega Ratio Rank: 56
IQQQ Calmar Ratio Rank: 62
IQQQ Martin Ratio Rank: 59

QQQE

QQQE Risk / Return Rank: 54
QQQE Sharpe Ratio Rank: 53
QQQE Sortino Ratio Rank: 50
QQQE Omega Ratio Rank: 50
QQQE Calmar Ratio Rank: 61
QQQE Martin Ratio Rank: 57

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. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 High Income ETF (IQQQ) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.58	+0.16
Sortino ratio: Return per unit of downside risk	2.28	2.16	+0.12
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.66	2.61	+0.05
Martin ratio: Return relative to average drawdown	9.05	8.73	+0.32

IQQQ vs. QQQE - Sharpe Ratio Comparison

The current IQQQ Sharpe Ratio is 1.74, which is comparable to the QQQE Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IQQQ and QQQE, 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. QQQE - Drawdown Comparison

The maximum IQQQ drawdown since its inception was -20.41%, smaller than the maximum QQQE drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for IQQQ and QQQE.

Drawdown Indicators

	IQQQ	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	-32.14%	+11.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-9.41%	-1.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.14%	—
Current Drawdown Current decline from peak	-4.31%	-2.48%	-1.83%
Average Drawdown Average peak-to-trough decline	-3.63%	-5.15%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.81%	+0.46%

Volatility

IQQQ vs. QQQE - Volatility Comparison

ProShares Nasdaq-100 High Income ETF (IQQQ) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) have volatilities of 8.20% and 7.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQQ	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.20%	7.91%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	13.57%	12.70%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	15.57%	+1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	20.54%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	20.79%	-1.73%

IQQQ vs. QQQE - Expense Ratio Comparison

IQQQ has a 0.55% expense ratio, which is higher than QQQE's 0.35% expense ratio.

Dividends

IQQQ vs. QQQE - Dividend Comparison

IQQQ's dividend yield for the trailing twelve months is around 4.61%, more than QQQE's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IQQQ ProShares Nasdaq-100 High Income ETF	4.61%	10.34%	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.57%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both IQQQ and QQQE in my portfolio?

IQQQ and QQQE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQQQ or QQQE?

IQQQ has higher volatility (8.20%) compared to QQQE (7.91%). In terms of maximum drawdown, IQQQ dropped -20.41% vs QQQE's -32.14%.

Which ETF is better, IQQQ or QQQE?

On 1-year performance, IQQQ leads with 29.47% vs 24.45% for QQQE. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 7.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQQQ or QQQE?

Over the 1-year period, IQQQ has performed better with a 29.47% return vs 24.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQQQ or QQQE?

QQQE is cheaper with a 0.35% expense ratio, compared with 0.55% for IQQQ.

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

IQQQ has the higher dividend yield at 4.61%, compared with 0.57% for QQQE.

What is the main difference between IQQQ and QQQE?

IQQQ tracks Nasdaq-100 Daily Covered Call Index, while QQQE tracks NASDAQ-100 Equal Weighted Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.55% for IQQQ and 0.35% for QQQE.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.74 vs 1.58), 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.