NDAQ vs. QQQ

Last updated Jun 6, 2026

NDAQ (Nasdaq, Inc.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, NDAQ returned 16.83%/yr vs 21.27%/yr for QQQ. At a 0.47 correlation, their price movements are largely independent.

Performance

NDAQ vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nasdaq, Inc. (NDAQ) 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, NDAQ achieves a -9.86% return, which is significantly lower than QQQ's 14.92% return. Over the past 10 years, NDAQ has underperformed QQQ with an annualized return of 16.83%, while QQQ has yielded a comparatively higher 21.27% annualized return.

NDAQ

• 1D: -1.32%
• 1M: -2.15%
• YTD: -9.86%
• 6M: -2.95%
• 1Y: 5.17%
• 3Y*: 16.80%
• 5Y*: 10.48%
• 10Y*: 16.83%

QQQ

• 1D: -4.80%
• 1M: 1.34%
• YTD: 14.92%
• 6M: 13.01%
• 1Y: 35.00%
• 3Y*: 26.46%
• 5Y*: 16.70%
• 10Y*: 21.27%

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

NDAQ vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDAQ Nasdaq, Inc.	-9.86%	27.19%	34.85%	-3.66%	-11.19%	60.13%	25.99%	33.88%	8.21%	16.76%
QQQ Invesco QQQ ETF	14.92%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between NDAQ and QQQ is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jul 2, 2002	0.47

The correlation between NDAQ and QQQ shifts across timeframes, from 0.34 (1 year) to 0.52 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NDAQ vs. QQQ — Risk / Return Rank

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

NDAQ

NDAQ Risk / Return Rank: 45
NDAQ Sharpe Ratio Rank: 49
NDAQ Sortino Ratio Rank: 41
NDAQ Omega Ratio Rank: 42
NDAQ Calmar Ratio Rank: 47
NDAQ Martin Ratio Rank: 48

QQQ

QQQ Risk / Return Rank: 62
QQQ Sharpe Ratio Rank: 65
QQQ Sortino Ratio Rank: 58
QQQ Omega Ratio Rank: 62
QQQ Calmar Ratio Rank: 60
QQQ Martin Ratio Rank: 63

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.

NDAQ vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nasdaq, Inc. (NDAQ) 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.

	NDAQ	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.21	2.11	-1.90
Sortino ratio: Return per unit of downside risk	0.43	2.72	-2.29
Omega ratio: Gain probability vs. loss probability	1.06	1.37	-0.31
Calmar ratio: Return relative to maximum drawdown	0.24	2.94	-2.70
Martin ratio: Return relative to average drawdown	0.56	11.22	-10.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDAQ vs. QQQ - Sharpe Ratio Comparison

The current NDAQ Sharpe Ratio is 0.21, which is lower than the QQQ Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of NDAQ 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

	NDAQ	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	2.11	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.75	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.95	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.40	-0.03

Drawdowns

NDAQ vs. QQQ - Drawdown Comparison

The maximum NDAQ drawdown since its inception was -68.48%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for NDAQ and QQQ.

Drawdown Indicators

	NDAQ	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-68.48%	-82.97%	+14.49%
Max Drawdown (1Y) Largest decline over 1 year	-21.76%	-11.96%	-9.80%
Max Drawdown (3Y) Largest decline over 3 years	-21.76%	-22.77%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-32.84%	-35.12%	+2.28%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	-35.12%	-3.19%
Current Drawdown Current decline from peak	-13.29%	-5.51%	-7.78%
Average Drawdown Average peak-to-trough decline	-23.82%	-32.78%	+8.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.31%	3.13%	+6.18%

Volatility

NDAQ vs. QQQ - Volatility Comparison

Nasdaq, Inc. (NDAQ) has a higher volatility of 7.30% compared to Invesco QQQ ETF (QQQ) at 6.68%. This indicates that NDAQ'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.

Volatility by Period

	NDAQ	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	6.68%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	20.74%	13.12%	+7.62%
Volatility (1Y) Calculated over the trailing 1-year period	24.54%	16.69%	+7.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.95%	22.47%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.25%	22.34%	+1.91%

Dividends

NDAQ vs. QQQ - Dividend Comparison

NDAQ's dividend yield for the trailing twelve months is around 1.24%, more than QQQ's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NDAQ Nasdaq, Inc.	1.24%	1.08%	1.22%	1.48%	1.27%	1.00%	1.46%	1.73%	2.08%	1.90%	1.80%	1.55%
QQQ Invesco QQQ ETF	0.40%	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 NDAQ and QQQ in my portfolio?

NDAQ and QQQ have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDAQ or QQQ?

NDAQ has higher volatility (7.30%) compared to QQQ (6.68%). In terms of maximum drawdown, NDAQ dropped -68.48% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.11 vs 0.21), 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.