IWP vs. QQQJ

Last updated Jun 24, 2026

IWP (iShares Russell Mid-Cap Growth ETF) and QQQJ (Invesco NASDAQ Next Gen 100 ETF) are both Mid Cap Growth Equities funds - IWP tracks the Russell Midcap Growth Index while QQQJ tracks the NASDAQ Next Generation 100 Index. Both are passively managed. Over the past 5 years, IWP returned 5.03%/yr vs 6.21%/yr for QQQJ. Their correlation of 0.94 suggests significant overlap in exposure. IWP charges 0.23%/yr vs 0.15%/yr for QQQJ.

Performance

IWP vs. QQQJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Growth ETF (IWP) and Invesco NASDAQ Next Gen 100 ETF (QQQJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWP achieves a 2.34% return, which is significantly lower than QQQJ's 20.04% return.

IWP

• 1D: -1.30%
• 1M: 0.47%
• YTD: 2.34%
• 6M: 0.42%
• 1Y: 3.70%
• 3Y*: 15.03%
• 5Y*: 5.03%
• 10Y*: 12.61%

QQQJ

• 1D: -1.14%
• 1M: 2.22%
• YTD: 20.04%
• 6M: 17.68%
• 1Y: 41.94%
• 3Y*: 21.29%
• 5Y*: 6.21%
• 10Y*: —

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

IWP vs. QQQJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IWP iShares Russell Mid-Cap Growth ETF	2.34%	8.45%	21.86%	25.70%	-26.90%	12.60%	11.15%
QQQJ Invesco NASDAQ Next Gen 100 ETF	20.04%	20.44%	15.36%	13.68%	-28.25%	9.76%	15.34%

Correlation

The correlation between IWP and QQQJ is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.94

The correlation between IWP and QQQJ has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

IWP vs. QQQJ - Sectors Allocation Comparison

Sectors	IWP	QQQJ
Industrials	25.0%	11.1%
Technology	22.3%	40.4%
Consumer Cyclical	19.9%	11.3%
Healthcare	12.8%	18.7%
Financial Services	6.4%	2.0%
Energy	3.9%	1.0%
Communication Services	3.0%	7.8%
Utilities	2.5%	2.6%
Consumer Defensive	1.9%	2.6%
Real Estate	1.4%	-
Basic Materials	0.4%	2.6%

Return for Risk

IWP vs. QQQJ — Risk / Return Rank

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

IWP

IWP Risk / Return Rank: 11
IWP Sharpe Ratio Rank: 11
IWP Sortino Ratio Rank: 11
IWP Omega Ratio Rank: 11
IWP Calmar Ratio Rank: 11
IWP Martin Ratio Rank: 12

QQQJ

QQQJ Risk / Return Rank: 72
QQQJ Sharpe Ratio Rank: 72
QQQJ Sortino Ratio Rank: 68
QQQJ Omega Ratio Rank: 67
QQQJ Calmar Ratio Rank: 73
QQQJ Martin Ratio Rank: 79

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.

IWP vs. QQQJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) and Invesco NASDAQ Next Gen 100 ETF (QQQJ). 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.

	IWP	QQQJ	Difference
Sharpe ratio: Return per unit of total volatility	0.22	2.22	-2.00
Sortino ratio: Return per unit of downside risk	0.43	2.97	-2.54
Omega ratio: Gain probability vs. loss probability	1.05	1.38	-0.33
Calmar ratio: Return relative to maximum drawdown	0.25	3.56	-3.31
Martin ratio: Return relative to average drawdown	0.72	14.75	-14.02

IWP vs. QQQJ - Sharpe Ratio Comparison

The current IWP Sharpe Ratio is 0.22, which is lower than the QQQJ Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of IWP and QQQJ, 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

IWP vs. QQQJ - Drawdown Comparison

The maximum IWP drawdown since its inception was -56.92%, which is greater than QQQJ's maximum drawdown of -39.57%. Use the drawdown chart below to compare losses from any high point for IWP and QQQJ.

Drawdown Indicators

	IWP	QQQJ	Difference
Max Drawdown Largest peak-to-trough decline	-56.92%	-39.57%	-17.35%
Max Drawdown (1Y) Largest decline over 1 year	-14.79%	-11.84%	-2.95%
Max Drawdown (3Y) Largest decline over 3 years	-25.20%	-22.46%	-2.74%
Max Drawdown (5Y) Largest decline over 5 years	-38.62%	-39.57%	+0.95%
Max Drawdown (10Y) Largest decline over 10 years	-38.62%	—	—
Current Drawdown Current decline from peak	-3.43%	-3.24%	-0.19%
Average Drawdown Average peak-to-trough decline	-9.67%	-15.62%	+5.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.11%	2.85%	+2.26%

Volatility

IWP vs. QQQJ - Volatility Comparison

The current volatility for iShares Russell Mid-Cap Growth ETF (IWP) is 5.81%, while Invesco NASDAQ Next Gen 100 ETF (QQQJ) has a volatility of 7.18%. This indicates that IWP experiences smaller price fluctuations and is considered to be less risky than QQQJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWP	QQQJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	7.18%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	15.70%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	17.07%	19.00%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.40%	22.18%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.69%	22.11%	-0.42%

IWP vs. QQQJ - Expense Ratio Comparison

IWP has a 0.23% expense ratio, which is higher than QQQJ's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IWP vs. QQQJ - Dividend Comparison

IWP's dividend yield for the trailing twelve months is around 0.35%, less than QQQJ's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWP iShares Russell Mid-Cap Growth ETF	0.35%	0.37%	0.40%	0.54%	0.77%	0.30%	0.38%	0.59%	1.02%	0.78%	1.16%	0.98%
QQQJ Invesco NASDAQ Next Gen 100 ETF	0.55%	0.85%	0.77%	0.67%	0.76%	0.91%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWP and QQQJ in my portfolio?

IWP and QQQJ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWP or QQQJ?

QQQJ has higher volatility (7.18%) compared to IWP (5.81%). In terms of maximum drawdown, IWP dropped -56.92% vs QQQJ's -39.57%.

Which ETF is better, IWP or QQQJ?

On 5-year performance, QQQJ leads with 6.21% vs 5.03% for IWP. On fees, QQQJ is cheaper at 0.15% per year. On volatility, IWP has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWP or QQQJ?

Over the 5-year period, QQQJ has performed better with a 6.21% return vs 5.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWP or QQQJ?

QQQJ is cheaper with a 0.15% expense ratio, compared with 0.23% for IWP.

Which ETF pays a higher dividend yield, IWP or QQQJ?

QQQJ has the higher dividend yield at 0.55%, compared with 0.35% for IWP.

What is the main difference between IWP and QQQJ?

IWP tracks Russell Midcap Growth Index, while QQQJ tracks NASDAQ Next Generation 100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.23% for IWP and 0.15% for QQQJ.

Which has better risk-adjusted returns?

QQQJ currently has the higher Sharpe Ratio (2.22 vs 0.22), 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.