IWX vs. QQQ

Last updated Jun 24, 2026

IWX (iShares Russell Top 200 Value ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - IWX is a Large Cap Value Equities fund tracking the Russell Top 200 Value Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, IWX returned 12.06%/yr vs 22.07%/yr for QQQ. A 0.68 correlation means they provide meaningful diversification when combined. IWX charges 0.20%/yr vs 0.18%/yr for QQQ.

Performance

IWX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Top 200 Value ETF (IWX) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWX achieves a 15.10% return, which is significantly lower than QQQ's 16.45% return. Over the past 10 years, IWX has underperformed QQQ with an annualized return of 12.06%, while QQQ has yielded a comparatively higher 22.07% annualized return.

IWX

• 1D: -1.03%
• 1M: 2.16%
• YTD: 15.10%
• 6M: 14.72%
• 1Y: 28.88%
• 3Y*: 18.95%
• 5Y*: 11.82%
• 10Y*: 12.06%

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

IWX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IWX iShares Russell Top 200 Value ETF	15.10%	18.23%	14.89%	10.45%	-5.33%	23.33%	1.46%	25.82%	-6.53%	14.05%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between IWX and QQQ is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 28, 2009	0.68

The correlation between IWX and QQQ shifts across timeframes, from 0.55 (3 years) to 0.68 (all time), reflecting how their relationship changes across market environments.

IWX vs. QQQ - Sectors Allocation Comparison

Sectors	IWX	QQQ
Financial Services	20.6%	0.2%
Technology	18.5%	58.7%
Healthcare	12.1%	3.7%
Industrials	10.8%	2.6%
Communication Services	10.5%	14.3%
Consumer Defensive	7.6%	6.4%
Consumer Cyclical	6.5%	11.4%
Energy	5.8%	0.5%
Basic Materials	2.9%	1.0%
Utilities	2.9%	1.2%
Real Estate	1.8%	0.1%

Return for Risk

IWX vs. QQQ — Risk / Return Rank

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

IWX

IWX Risk / Return Rank: 87
IWX Sharpe Ratio Rank: 89
IWX Sortino Ratio Rank: 89
IWX Omega Ratio Rank: 86
IWX Calmar Ratio Rank: 85
IWX Martin Ratio Rank: 89

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

IWX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 Value ETF (IWX) and Invesco QQQ ETF (QQQ). 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.

	IWX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.76	1.95	+0.80
Sortino ratio: Return per unit of downside risk	3.84	2.57	+1.27
Omega ratio: Gain probability vs. loss probability	1.49	1.35	+0.15
Calmar ratio: Return relative to maximum drawdown	4.40	2.93	+1.47
Martin ratio: Return relative to average drawdown	18.71	10.86	+7.85

IWX vs. QQQ - Sharpe Ratio Comparison

The current IWX Sharpe Ratio is 2.76, which is higher than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of IWX and QQQ, 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

IWX vs. QQQ - Drawdown Comparison

The maximum IWX drawdown since its inception was -35.76%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for IWX and QQQ.

Drawdown Indicators

	IWX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.76%	-82.97%	+47.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-11.96%	+5.37%
Max Drawdown (3Y) Largest decline over 3 years	-13.37%	-22.77%	+9.40%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	-35.12%	+16.99%
Max Drawdown (10Y) Largest decline over 10 years	-35.76%	-35.12%	-0.64%
Current Drawdown Current decline from peak	-1.15%	-4.25%	+3.10%
Average Drawdown Average peak-to-trough decline	-3.81%	-32.73%	+28.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	3.22%	-1.67%

Volatility

IWX vs. QQQ - Volatility Comparison

The current volatility for iShares Russell Top 200 Value ETF (IWX) is 4.05%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that IWX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	9.17%	-5.12%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	14.57%	-6.29%
Volatility (1Y) Calculated over the trailing 1-year period	10.55%	17.96%	-7.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.89%	22.69%	-8.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.50%	22.42%	-5.92%

IWX vs. QQQ - Expense Ratio Comparison

IWX has a 0.20% expense ratio, which is higher than QQQ's 0.18% 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

IWX vs. QQQ - Dividend Comparison

IWX's dividend yield for the trailing twelve months is around 1.46%, more than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWX iShares Russell Top 200 Value ETF	1.46%	1.59%	1.97%	2.13%	2.07%	1.79%	2.12%	2.60%	2.66%	2.12%	2.22%	2.77%
QQQ Invesco QQQ ETF	0.43%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both IWX and QQQ in my portfolio?

IWX and QQQ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWX or QQQ?

QQQ has higher volatility (9.17%) compared to IWX (4.05%). In terms of maximum drawdown, IWX dropped -35.76% vs QQQ's -82.97%.

Which ETF is better, IWX or QQQ?

On 10-year performance, QQQ leads with 22.07% vs 12.06% for IWX. On fees, QQQ is cheaper at 0.18% per year. On volatility, IWX has been the lower-risk option at 4.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWX or QQQ?

Over the 10-year period, QQQ has performed better with a 22.07% return vs 12.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWX or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.20% for IWX.

Which ETF pays a higher dividend yield, IWX or QQQ?

IWX has the higher dividend yield at 1.46%, compared with 0.43% for QQQ.

What is the main difference between IWX and QQQ?

IWX is categorized as Large Cap Value Equities, while QQQ is Nasdaq-100. IWX tracks Russell Top 200 Value Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for IWX and 0.18% for QQQ.

Which has better risk-adjusted returns?

IWX currently has the higher Sharpe Ratio (2.76 vs 1.95), 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.