IWC vs. QQQS

Last updated Jun 5, 2026

IWC (iShares Micro-Cap ETF) and QQQS (Invesco NASDAQ Future Gen 200 ETF) are both Small Cap Blend Equities funds - IWC tracks the Russell Microcap Index while QQQS tracks the Nasdaq Innovators Completion Cap Total Return Index. Both are passively managed. Over the past 3 years, IWC returned 22.83%/yr vs 16.95%/yr for QQQS. Their correlation of 0.92 suggests significant overlap in exposure. IWC charges 0.60%/yr vs 0.20%/yr for QQQS.

Performance

IWC vs. QQQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Micro-Cap ETF (IWC) and Invesco NASDAQ Future Gen 200 ETF (QQQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWC achieves a 21.41% return, which is significantly lower than QQQS's 29.69% return.

IWC

• 1D: 2.06%
• 1M: 2.80%
• YTD: 21.41%
• 6M: 19.33%
• 1Y: 58.00%
• 3Y*: 22.83%
• 5Y*: 5.88%
• 10Y*: 11.44%

QQQS

• 1D: 1.90%
• 1M: 6.24%
• YTD: 29.69%
• 6M: 27.78%
• 1Y: 82.03%
• 3Y*: 16.95%
• 5Y*: —
• 10Y*: —

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

IWC vs. QQQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IWC iShares Micro-Cap ETF	21.41%	22.45%	13.63%	8.99%	2.41%
QQQS Invesco NASDAQ Future Gen 200 ETF	29.69%	23.03%	10.20%	-1.94%	6.56%

Correlation

The correlation between IWC and QQQS is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 14, 2022	0.92

The correlation between IWC and QQQS has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

IWC vs. QQQS - Sectors Allocation Comparison

Sectors	IWC	QQQS
Healthcare	28.1%	41.0%
Technology	18.4%	42.1%
Financial Services	18.1%	0.0%
Industrials	13.3%	4.8%
Consumer Cyclical	5.3%	5.2%
Energy	4.7%	2.2%
Basic Materials	4.4%	1.0%
Real Estate	3.5%	-
Consumer Defensive	1.9%	1.4%
Communication Services	1.8%	2.4%
Utilities	0.6%	-

Return for Risk

IWC vs. QQQS — Risk / Return Rank

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

IWC

IWC Risk / Return Rank: 76
IWC Sharpe Ratio Rank: 77
IWC Sortino Ratio Rank: 72
IWC Omega Ratio Rank: 64
IWC Calmar Ratio Rank: 86
IWC Martin Ratio Rank: 80

QQQS

QQQS Risk / Return Rank: 87
QQQS Sharpe Ratio Rank: 90
QQQS Sortino Ratio Rank: 86
QQQS Omega Ratio Rank: 76
QQQS Calmar Ratio Rank: 92
QQQS Martin Ratio Rank: 90

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.

IWC vs. QQQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Micro-Cap ETF (IWC) and Invesco NASDAQ Future Gen 200 ETF (QQQS). 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.

	IWC	QQQS	Difference
Sharpe ratio: Return per unit of total volatility	2.47	3.07	-0.61
Sortino ratio: Return per unit of downside risk	3.22	3.85	-0.63
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.07
Calmar ratio: Return relative to maximum drawdown	4.69	6.05	-1.36
Martin ratio: Return relative to average drawdown	15.50	20.20	-4.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWC vs. QQQS - Sharpe Ratio Comparison

The current IWC Sharpe Ratio is 2.47, which is comparable to the QQQS Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of IWC and QQQS, 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

	IWC	QQQS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	3.07	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.65	-0.33

Drawdowns

IWC vs. QQQS - Drawdown Comparison

The maximum IWC drawdown since its inception was -64.61%, which is greater than QQQS's maximum drawdown of -38.06%. Use the drawdown chart below to compare losses from any high point for IWC and QQQS.

Drawdown Indicators

	IWC	QQQS	Difference
Max Drawdown Largest peak-to-trough decline	-64.61%	-38.06%	-26.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-13.63%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	-29.46%	-34.32%	+4.86%
Max Drawdown (5Y) Largest decline over 5 years	-40.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.21%	—	—
Current Drawdown Current decline from peak	-0.91%	-0.69%	-0.22%
Average Drawdown Average peak-to-trough decline	-15.27%	-13.25%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	4.07%	-0.32%

Volatility

IWC vs. QQQS - Volatility Comparison

iShares Micro-Cap ETF (IWC) and Invesco NASDAQ Future Gen 200 ETF (QQQS) have volatilities of 7.26% and 7.46%, 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

	IWC	QQQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	7.46%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	17.35%	18.55%	-1.20%
Volatility (1Y) Calculated over the trailing 1-year period	23.63%	26.84%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.44%	28.34%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.42%	28.34%	-3.92%

IWC vs. QQQS - Expense Ratio Comparison

IWC has a 0.60% expense ratio, which is higher than QQQS's 0.20% expense ratio.

Dividends

IWC vs. QQQS - Dividend Comparison

IWC's dividend yield for the trailing twelve months is around 0.89%, less than QQQS's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWC iShares Micro-Cap ETF	0.89%	1.10%	1.06%	1.17%	1.18%	0.78%	0.98%	1.19%	1.01%	1.09%	1.16%	1.49%
QQQS Invesco NASDAQ Future Gen 200 ETF	2.68%	3.48%	0.80%	0.68%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWC and QQQS in my portfolio?

With a correlation of 0.92, IWC and QQQS 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, IWC or QQQS?

QQQS has higher volatility (7.46%) compared to IWC (7.26%). In terms of maximum drawdown, IWC dropped -64.61% vs QQQS's -38.06%.

Which ETF is better, IWC or QQQS?

On 3-year performance, IWC leads with 22.83% vs 16.95% for QQQS. On fees, QQQS is cheaper at 0.20% per year. On volatility, IWC has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWC or QQQS?

Over the 3-year period, IWC has performed better with a 22.83% return vs 16.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWC or QQQS?

QQQS is cheaper with a 0.20% expense ratio, compared with 0.60% for IWC.

Which ETF pays a higher dividend yield, IWC or QQQS?

QQQS has the higher dividend yield at 2.68%, compared with 0.89% for IWC.

What is the main difference between IWC and QQQS?

IWC tracks Russell Microcap Index, while QQQS tracks Nasdaq Innovators Completion Cap Total Return Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.60% for IWC and 0.20% for QQQS.

Which has better risk-adjusted returns?

QQQS currently has the higher Sharpe Ratio (3.07 vs 2.47), 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.