NQ=F vs. QQQ

Last updated Jun 26, 2026

NQ=F (E-Mini Nasdaq 100 Futures) is an asset, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Their correlation of 0.89 suggests significant overlap in exposure.

Performance

NQ=F vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in E-Mini Nasdaq 100 Futures (NQ=F) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NQ=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 0.81%
• 1M: -1.80%
• YTD: 16.89%
• 6M: 15.09%
• 1Y: 33.02%
• 3Y*: 26.78%
• 5Y*: 16.13%
• 10Y*: 22.36%

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

NQ=F vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NQ=F E-Mini Nasdaq 100 Futures	0.00%	0.00%	0.00%	24.43%	-32.46%	26.66%	47.22%	38.20%	-1.18%	31.76%
QQQ Invesco QQQ ETF	16.89%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between NQ=F and QQQ is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Aug 20, 2003	0.89

The correlation between NQ=F and QQQ shifts across timeframes, from 0.63 (5 years) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NQ=F vs. QQQ — Risk / Return Rank

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

NQ=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QQQ

QQQ Risk / Return Rank: 64
QQQ Sharpe Ratio Rank: 66
QQQ Sortino Ratio Rank: 61
QQQ Omega Ratio Rank: 63
QQQ Calmar Ratio Rank: 65
QQQ Martin Ratio Rank: 65

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.

NQ=F vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for E-Mini Nasdaq 100 Futures (NQ=F) 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.

	NQ=F	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.85	—
Sortino ratio: Return per unit of downside risk	—	2.45	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.77	—
Martin ratio: Return relative to average drawdown	—	10.21	—

Drawdowns

Drawdown Indicators

	NQ=F	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-82.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
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	—	-3.89%	—
Average Drawdown Average peak-to-trough decline	—	-32.72%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.24%	—

Volatility

Volatility by Period

	NQ=F	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	17.91%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	22.69%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.41%	—

Frequently Asked Questions

Can I hold both NQ=F and QQQ in my portfolio?

NQ=F and QQQ have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.