MLTX vs. QQQ
MLTX (MoonLake Immunotherapeutics) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 5 years, MLTX returned 16.38%/yr vs 16.94%/yr for QQQ. At a 0.17 correlation, their price movements are largely independent.
Performance
MLTX vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, MLTX achieves a 68.13% return, which is significantly higher than QQQ's 20.41% return.
MLTX
- 1D
- 15.36%
- 1M
- 21.83%
- YTD
- 68.13%
- 6M
- 64.27%
- 1Y
- -49.06%
- 3Y*
- -5.04%
- 5Y*
- 16.38%
- 10Y*
- —
QQQ
- 1D
- -0.25%
- 1M
- 2.96%
- YTD
- 20.41%
- 6M
- 19.46%
- 1Y
- 40.91%
- 3Y*
- 27.47%
- 5Y*
- 16.94%
- 10Y*
- 22.48%
MLTX vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MLTX MoonLake Immunotherapeutics | 68.13% | -75.66% | -10.33% | 475.14% | 6.17% | -13.02% | 11.91% |
QQQ Invesco QQQ ETF | 20.41% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 10.75% |
Correlation
The correlation between MLTX and QQQ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020 | 0.17 |
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Return for Risk
MLTX vs. QQQ — Risk / Return Rank
MLTX
QQQ
MLTX vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MoonLake Immunotherapeutics (MLTX) 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.
| MLTX | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.41 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 3.44 | -3.98 |
| Martin ratioReturn relative to average drawdown | -0.76 | 12.79 | -13.55 |
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Drawdowns
MLTX vs. QQQ - Drawdown Comparison
The maximum MLTX drawdown since its inception was -90.22%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for MLTX and QQQ.
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Drawdown Indicators
| MLTX | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.22% | -82.97% | -7.25% |
Max Drawdown (1Y)Largest decline over 1 year | -89.93% | -11.96% | -77.97% |
Max Drawdown (3Y)Largest decline over 3 years | -90.22% | -22.77% | -67.45% |
Max Drawdown (5Y)Largest decline over 5 years | -90.22% | -35.12% | -55.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -65.30% | -0.99% | -64.31% |
Average DrawdownAverage peak-to-trough decline | -29.48% | -32.73% | +3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 64.55% | 3.21% | +61.34% |
Volatility
MLTX vs. QQQ - Volatility Comparison
MoonLake Immunotherapeutics (MLTX) has a higher volatility of 19.22% compared to Invesco QQQ ETF (QQQ) at 8.47%. This indicates that MLTX's price experiences larger fluctuations and is considered to be riskier 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
| MLTX | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.22% | 8.47% | +10.75% |
Volatility (6M)Calculated over the trailing 6-month period | 55.52% | 14.20% | +41.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 116.84% | 17.67% | +99.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 91.48% | 22.64% | +68.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.43% | 22.43% | +64.00% |
Dividends
MLTX vs. QQQ - Dividend Comparison
MLTX has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLTX MoonLake Immunotherapeutics | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.49% | 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
MLTX and QQQ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLTX has higher volatility (19.22%) compared to QQQ (8.47%). In terms of maximum drawdown, MLTX dropped -90.22% vs QQQ's -82.97%.
QQQ currently has the higher Sharpe Ratio (2.33 vs -0.42), 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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