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MGEE vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MGEE vs. QQQ

Last updated Jun 24, 2026

MGEE (MGE Energy, Inc.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, MGEE returned 5.76%/yr vs 22.07%/yr for QQQ. At a 0.38 correlation, their price movements are largely independent.

Performance

MGEE vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MGE Energy, Inc. (MGEE) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MGEE achieves a -0.27% return, which is significantly lower than QQQ's 16.45% return. Over the past 10 years, MGEE has underperformed QQQ with an annualized return of 5.76%, while QQQ has yielded a comparatively higher 22.07% annualized return.

MGEE

1D
1.66%
1M
2.23%
YTD
-0.27%
6M
-0.08%
1Y
-11.60%
3Y*
2.87%
5Y*
2.78%
10Y*
5.76%

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)

MGEE vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MGEE
MGE Energy, Inc.		-0.27%-14.75%32.80%5.10%-12.57%19.90%-9.30%34.04%-2.90%-1.48%
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 MGEE and QQQ is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.02

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Mar 10, 1999

0.38

The correlation between MGEE and QQQ shifts across timeframes, from -0.11 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

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MGE Energy, Inc.

Invesco QQQ ETF

Often compared with MGEE:
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Often compared with QQQ:
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Return for Risk

MGEE vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MGEE
MGEE Risk / Return Rank: 1818
Overall Rank
MGEE Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
MGEE Sortino Ratio Rank: 1818
Sortino Ratio Rank
MGEE Omega Ratio Rank: 1818
Omega Ratio Rank
MGEE Calmar Ratio Rank: 2020
Calmar Ratio Rank
MGEE Martin Ratio Rank: 1919
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 5959
Overall Rank
QQQ Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
QQQ Omega Ratio Rank: 5858
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQ Martin Ratio Rank: 6262
Martin Ratio Rank
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.

MGEE vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MGE Energy, Inc. (MGEE) 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.

MGEEQQQDifference
Sharpe ratioReturn per unit of total volatility
-0.56
1.95

-2.52

Sortino ratioReturn per unit of downside risk
-0.64
2.57

-3.21

Omega ratioGain probability vs. loss probability

0.92

1.35

-0.42

Calmar ratioReturn relative to maximum drawdown

-0.61

2.93

-3.54

Martin ratioReturn relative to average drawdown

-1.09

10.86

-11.95

MGEE vs. QQQ - Sharpe Ratio Comparison

The current MGEE Sharpe Ratio is -0.56, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of MGEE 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.

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Drawdowns

MGEE vs. QQQ - Drawdown Comparison

The maximum MGEE drawdown since its inception was -33.91%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for MGEE and QQQ.

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Drawdown Indicators

MGEEQQQDifference

Max Drawdown

Largest peak-to-trough decline

-33.91%

-82.97%

+49.06%

Max Drawdown (1Y)

Largest decline over 1 year

-19.07%

-11.96%

-7.11%

Max Drawdown (3Y)

Largest decline over 3 years

-30.88%

-22.77%

-8.11%

Max Drawdown (5Y)

Largest decline over 5 years

-30.88%

-35.12%

+4.24%

Max Drawdown (10Y)

Largest decline over 10 years

-33.91%

-35.12%

+1.21%

Current Drawdown

Current decline from peak

-25.82%

-4.25%

-21.57%

Average Drawdown

Average peak-to-trough decline

-7.66%

-32.73%

+25.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.68%

3.22%

+7.46%

Volatility

MGEE vs. QQQ - Volatility Comparison

The current volatility for MGE Energy, Inc. (MGEE) is 6.31%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that MGEE 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.

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Volatility by Period

MGEEQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.31%

9.17%

-2.86%

Volatility (6M)

Calculated over the trailing 6-month period

16.27%

14.57%

+1.70%

Volatility (1Y)

Calculated over the trailing 1-year period

20.74%

17.96%

+2.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.30%

22.69%

+0.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.45%

22.42%

+5.03%

Dividends

MGEE vs. QQQ - Dividend Comparison

MGEE's dividend yield for the trailing twelve months is around 2.46%, more than QQQ's 0.43% yield.

PositionTTM20252024202320222021202020192018201720162015
MGEE
MGE Energy, Inc.		2.46%2.36%1.87%2.31%2.26%1.84%2.06%1.75%2.20%2.00%1.85%2.49%
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

MGEE and QQQ have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (9.17%) compared to MGEE (6.31%). In terms of maximum drawdown, MGEE dropped -33.91% vs QQQ's -82.97%.

QQQ currently has the higher Sharpe Ratio (1.95 vs -0.56), 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.

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