IRVIX vs. QQQM

Last updated Jun 23, 2026

IRVIX (Voya Russell Large Cap Value Index Portfolio) and QQQM (Invesco NASDAQ 100 ETF) are both funds - IRVIX is a Large Cap Value Equities fund managed by Voya, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, IRVIX returned 12.36%/yr vs 17.04%/yr for QQQM. A 0.58 correlation means they provide meaningful diversification when combined. IRVIX charges 0.35%/yr vs 0.15%/yr for QQQM.

Performance

IRVIX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Russell Large Cap Value Index Portfolio (IRVIX) 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, IRVIX achieves a 15.79% return, which is significantly lower than QQQM's 20.46% return.

IRVIX

• 1D: 0.66%
• 1M: 2.71%
• YTD: 15.79%
• 6M: 15.54%
• 1Y: 30.64%
• 3Y*: 18.44%
• 5Y*: 12.36%
• 10Y*: 11.74%

QQQM

• 1D: -0.09%
• 1M: 2.98%
• YTD: 20.46%
• 6M: 19.51%
• 1Y: 41.06%
• 3Y*: 27.57%
• 5Y*: 17.04%
• 10Y*: —

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

IRVIX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IRVIX Voya Russell Large Cap Value Index Portfolio	15.79%	18.08%	14.99%	10.26%	-5.48%	22.95%	9.35%
QQQM Invesco NASDAQ 100 ETF	20.46%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%

Correlation

The correlation between IRVIX and QQQM is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.58

The correlation between IRVIX and QQQM shifts across timeframes, from 0.49 (3 years) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IRVIX vs. QQQM — Risk / Return Rank

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

IRVIX

IRVIX Risk / Return Rank: 92
IRVIX Sharpe Ratio Rank: 94
IRVIX Sortino Ratio Rank: 91
IRVIX Omega Ratio Rank: 86
IRVIX Calmar Ratio Rank: 94
IRVIX Martin Ratio Rank: 96

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 77
QQQM Sortino Ratio Rank: 70
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 71
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.

IRVIX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Russell Large Cap Value Index Portfolio (IRVIX) 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.

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.

	IRVIX	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	3.00	2.36	+0.64
Sortino ratio: Return per unit of downside risk	4.20	3.05	+1.15
Omega ratio: Gain probability vs. loss probability	1.55	1.41	+0.14
Calmar ratio: Return relative to maximum drawdown	5.18	3.45	+1.73
Martin ratio: Return relative to average drawdown	21.42	12.82	+8.60

IRVIX vs. QQQM - Sharpe Ratio Comparison

The current IRVIX Sharpe Ratio is 3.00, which is comparable to the QQQM Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of IRVIX 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.

Drawdowns

IRVIX vs. QQQM - Drawdown Comparison

The maximum IRVIX drawdown since its inception was -35.67%, roughly equal to the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for IRVIX and QQQM.

Drawdown Indicators

	IRVIX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-35.67%	-35.04%	-0.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.64%	-11.96%	+5.32%
Max Drawdown (3Y) Largest decline over 3 years	-13.38%	-22.70%	+9.32%
Max Drawdown (5Y) Largest decline over 5 years	-18.37%	-35.04%	+16.67%
Max Drawdown (10Y) Largest decline over 10 years	-35.67%	—	—
Current Drawdown Current decline from peak	-0.55%	-0.97%	+0.42%
Average Drawdown Average peak-to-trough decline	-3.82%	-8.20%	+4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	3.21%	-1.66%

Volatility

IRVIX vs. QQQM - Volatility Comparison

The current volatility for Voya Russell Large Cap Value Index Portfolio (IRVIX) is 3.95%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 8.28%. This indicates that IRVIX 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

	IRVIX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	8.28%	-4.33%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	14.05%	-4.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.47%	17.55%	-6.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	22.48%	-8.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	22.26%	-5.37%

IRVIX vs. QQQM - Expense Ratio Comparison

IRVIX has a 0.35% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

IRVIX vs. QQQM - Dividend Comparison

IRVIX's dividend yield for the trailing twelve months is around 3.80%, more than QQQM's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRVIX Voya Russell Large Cap Value Index Portfolio	3.80%	29.89%	3.60%	2.01%	1.36%	1.94%	3.78%	5.91%	6.32%	1.94%	2.90%	3.11%
QQQM Invesco NASDAQ 100 ETF	0.53%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRVIX and QQQM in my portfolio?

IRVIX and QQQM have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRVIX or QQQM?

QQQM has higher volatility (8.28%) compared to IRVIX (3.95%). In terms of maximum drawdown, IRVIX dropped -35.67% vs QQQM's -35.04%.

Which has better risk-adjusted returns?

IRVIX currently has the higher Sharpe Ratio (3.00 vs 2.36), 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.