MGK vs. QQQM

Last updated Jun 4, 2026

MGK (Vanguard Mega Cap Growth ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, MGK returned 16.25%/yr vs 18.07%/yr for QQQM. With a 0.98 correlation, they move nearly in lockstep. MGK charges 0.05%/yr vs 0.15%/yr for QQQM.

Performance

MGK vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Growth ETF (MGK) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGK achieves a 10.01% return, which is significantly lower than QQQM's 21.39% return.

MGK

• 1D: -1.13%
• 1M: 7.26%
• YTD: 10.01%
• 6M: 9.45%
• 1Y: 30.01%
• 3Y*: 26.77%
• 5Y*: 16.25%
• 10Y*: 19.24%

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

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

MGK vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MGK Vanguard Mega Cap Growth ETF	10.01%	20.67%	32.94%	51.67%	-33.59%	28.58%	4.57%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Correlation

The correlation between MGK and QQQM is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.98

The correlation between MGK and QQQM has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

MGK vs. QQQM - Sectors Allocation Comparison

Sectors	MGK	QQQM
Technology	56.1%	53.8%
Communication Services	17.3%	15.8%
Consumer Cyclical	12.8%	12.3%
Healthcare	4.5%	4.2%
Financial Services	4.5%	0.2%
Real Estate	1.3%	0.1%
Utilities	1.2%	1.4%
Industrials	1.1%	2.8%
Basic Materials	0.7%	1.1%
Consumer Defensive	0.4%	7.7%
Energy	-	0.6%

Return for Risk

MGK vs. QQQM — Risk / Return Rank

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

MGK

MGK Risk / Return Rank: 45
MGK Sharpe Ratio Rank: 53
MGK Sortino Ratio Rank: 50
MGK Omega Ratio Rank: 50
MGK Calmar Ratio Rank: 35
MGK Martin Ratio Rank: 38

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 71

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.

MGK vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth ETF (MGK) and Invesco NASDAQ 100 ETF (QQQM). 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.

	MGK	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.65	-0.79
Sortino ratio: Return per unit of downside risk	2.53	3.46	-0.93
Omega ratio: Gain probability vs. loss probability	1.32	1.45	-0.13
Calmar ratio: Return relative to maximum drawdown	1.79	3.53	-1.74
Martin ratio: Return relative to average drawdown	6.15	13.52	-7.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGK vs. QQQM - Sharpe Ratio Comparison

The current MGK Sharpe Ratio is 1.86, which is comparable to the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of MGK and QQQM, 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

	MGK	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	2.65	-0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.82	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.85	-0.19

Drawdowns

MGK vs. QQQM - Drawdown Comparison

The maximum MGK drawdown since its inception was -47.97%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for MGK and QQQM.

Drawdown Indicators

	MGK	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-47.97%	-35.04%	-12.93%
Max Drawdown (1Y) Largest decline over 1 year	-16.85%	-11.96%	-4.89%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-22.70%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-36.01%	-35.04%	-0.97%
Max Drawdown (10Y) Largest decline over 10 years	-36.01%	—	—
Current Drawdown Current decline from peak	-1.43%	-0.20%	-1.23%
Average Drawdown Average peak-to-trough decline	-7.47%	-8.25%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.89%	3.11%	+1.78%

Volatility

MGK vs. QQQM - Volatility Comparison

The current volatility for Vanguard Mega Cap Growth ETF (MGK) is 4.01%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 4.48%. This indicates that MGK experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGK	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	4.48%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	12.05%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	16.23%	15.91%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	22.24%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.88%	22.12%	-0.24%

MGK vs. QQQM - Expense Ratio Comparison

MGK has a 0.05% expense ratio, which is lower than QQQM's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MGK vs. QQQM - Dividend Comparison

MGK's dividend yield for the trailing twelve months is around 0.32%, less than QQQM's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGK Vanguard Mega Cap Growth ETF	0.32%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MGK and QQQM in my portfolio?

With a correlation of 0.95, MGK and QQQM 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, MGK or QQQM?

QQQM has higher volatility (4.48%) compared to MGK (4.01%). In terms of maximum drawdown, MGK dropped -47.97% vs QQQM's -35.04%.

Which ETF is better, MGK or QQQM?

On 5-year performance, QQQM leads with 18.07% vs 16.25% for MGK. On fees, MGK is cheaper at 0.05% per year. On volatility, MGK has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGK or QQQM?

Over the 5-year period, QQQM has performed better with a 18.07% return vs 16.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGK or QQQM?

MGK is cheaper with a 0.05% expense ratio, compared with 0.15% for QQQM.

Which ETF pays a higher dividend yield, MGK or QQQM?

QQQM has the higher dividend yield at 0.41%, compared with 0.32% for MGK.

What is the main difference between MGK and QQQM?

MGK is categorized as Large Cap Growth Equities, while QQQM is Nasdaq-100. MGK tracks CRSP US Mega Cap Growth Index, while QQQM tracks NASDAQ-100 Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for MGK and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 1.86), 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.