LGRO vs. QQQ

Last updated Jun 3, 2026

LGRO (Level Four Large Cap Growth Active ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - LGRO is a Large Cap Growth Equities fund actively managed by ALPS, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. LGRO is actively managed, while QQQ is passively managed. Over the past year, LGRO returned 29.22% vs 43.30% for QQQ. Their correlation of 0.90 suggests significant overlap in exposure. LGRO charges 0.50%/yr vs 0.18%/yr for QQQ.

Performance

LGRO vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Level Four Large Cap Growth Active ETF (LGRO) 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, LGRO achieves a 9.53% return, which is significantly lower than QQQ's 21.62% return.

LGRO

• 1D: -0.61%
• 1M: 8.97%
• YTD: 9.53%
• 6M: 9.77%
• 1Y: 29.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 0.46%
• 1M: 10.68%
• YTD: 21.62%
• 6M: 20.27%
• 1Y: 43.30%
• 3Y*: 28.89%
• 5Y*: 18.43%
• 10Y*: 21.97%

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

LGRO vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LGRO Level Four Large Cap Growth Active ETF	9.53%	18.15%	23.95%	11.74%
QQQ Invesco QQQ ETF	21.62%	20.77%	25.58%	11.39%

Correlation

The correlation between LGRO and QQQ 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 (All Time) Calculated using the full available price history since Aug 24, 2023	0.90

The correlation between LGRO and QQQ has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

LGRO vs. QQQ - Sectors Allocation Comparison

Sectors	LGRO	QQQ
Technology	48.1%	53.8%
Consumer Cyclical	14.4%	12.3%
Communication Services	13.4%	15.8%
Financial Services	9.1%	0.2%
Healthcare	8.1%	4.2%
Industrials	3.0%	2.8%
Energy	2.2%	0.6%
Consumer Defensive	1.8%	7.7%
Basic Materials	-	1.1%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

LGRO vs. QQQ — Risk / Return Rank

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

LGRO

LGRO Risk / Return Rank: 47
LGRO Sharpe Ratio Rank: 55
LGRO Sortino Ratio Rank: 51
LGRO Omega Ratio Rank: 52
LGRO Calmar Ratio Rank: 38
LGRO Martin Ratio Rank: 39

QQQ

QQQ Risk / Return Rank: 77
QQQ Sharpe Ratio Rank: 83
QQQ Sortino Ratio Rank: 78
QQQ Omega Ratio Rank: 77
QQQ Calmar Ratio Rank: 73
QQQ Martin Ratio Rank: 74

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.

LGRO vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Level Four Large Cap Growth Active ETF (LGRO) 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.

	LGRO	QQQ	Difference
Sharpe ratio Return per unit of total volatility	1.89	2.73	-0.84
Sortino ratio Return per unit of downside risk	2.54	3.55	-1.01
Omega ratio Gain probability vs. loss probability	1.33	1.47	-0.14
Calmar ratio Return relative to maximum drawdown	1.94	3.71	-1.77
Martin ratio Return relative to average drawdown	6.35	14.30	-7.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGRO vs. QQQ - Sharpe Ratio Comparison

The current LGRO Sharpe Ratio is 1.89, which is lower than the QQQ Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of LGRO 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.

Sharpe Ratios by Period

	LGRO	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.73	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.41	+0.81

Drawdowns

LGRO vs. QQQ - Drawdown Comparison

The maximum LGRO drawdown since its inception was -23.26%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for LGRO and QQQ.

Drawdown Indicators

	LGRO	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.26%	-82.97%	+59.71%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-11.96%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.61%	0.00%	-0.61%
Average Drawdown Average peak-to-trough decline	-3.39%	-32.79%	+29.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	3.11%	+1.55%

Volatility

LGRO vs. QQQ - Volatility Comparison

The current volatility for Level Four Large Cap Growth Active ETF (LGRO) is 3.49%, while Invesco QQQ ETF (QQQ) has a volatility of 4.48%. This indicates that LGRO 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

	LGRO	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.48%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	11.30%	12.11%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	15.95%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	22.39%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	22.30%	-3.01%

LGRO vs. QQQ - Expense Ratio Comparison

LGRO has a 0.50% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

LGRO vs. QQQ - Dividend Comparison

LGRO's dividend yield for the trailing twelve months is around 0.31%, less than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LGRO Level Four Large Cap Growth Active ETF	0.31%	0.31%	0.39%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	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 LGRO and QQQ in my portfolio?

LGRO and QQQ 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, LGRO or QQQ?

QQQ has higher volatility (4.48%) compared to LGRO (3.49%). In terms of maximum drawdown, LGRO dropped -23.26% vs QQQ's -82.97%.

Which ETF is better, LGRO or QQQ?

On 1-year performance, QQQ leads with 43.30% vs 29.22% for LGRO. On fees, QQQ is cheaper at 0.18% per year. On volatility, LGRO has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGRO or QQQ?

Over the 1-year period, QQQ has performed better with a 43.30% return vs 29.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGRO or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.50% for LGRO.

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

QQQ has the higher dividend yield at 0.38%, compared with 0.31% for LGRO.

What is the main difference between LGRO and QQQ?

LGRO is categorized as Large Cap Growth Equities, while QQQ is Nasdaq-100. They also come from different issuers: ALPS and Invesco. Their fees differ too: 0.50% for LGRO and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.73 vs 1.89), 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.