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PABG.L vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PABG.L vs. QQQ

Last updated Jun 4, 2026

PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, PABG.L returned 9.76%/yr vs 19.24%/yr for QQQ. At a 0.36 correlation, their price movements are largely independent. PABG.L charges 0.20%/yr vs 0.18%/yr for QQQ.

Performance

PABG.L vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

PABG.L is traded in GBP, while QQQ is traded in USD. To make them comparable, the QQQ values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, PABG.L achieves a 4.99% return, which is significantly lower than QQQ's 21.75% return.

PABG.L

1D
-0.89%
1M
4.58%
YTD
4.99%
6M
6.85%
1Y
16.59%
3Y*
15.81%
5Y*
9.76%
10Y*
—

QQQ

1D
0.00%
1M
11.50%
YTD
21.75%
6M
19.03%
1Y
42.81%
3Y*
25.59%
5Y*
19.24%
10Y*
22.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PABG.L vs. QQQ - Yearly Performance Comparison

2026 (YTD)20252024202320222021
PABG.L
Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc		4.99%27.75%9.01%19.40%-11.91%18.30%
QQQ
Invesco QQQ ETF		21.75%12.17%27.77%47.12%-24.56%26.16%

Correlation

The correlation between PABG.L and QQQ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

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

0.33

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

0.37

Correlation (All Time)
Calculated using the full available price history since Jan 29, 2021

0.36

PABG.L vs. QQQ - Sectors Allocation Comparison

Sectors
PABG.L
QQQ

Financial Services

32.6%
0.2%

Technology

19.8%
53.8%

Industrials

16.1%
2.8%

Consumer Cyclical

9.9%
12.3%

Healthcare

8.2%
4.2%

Consumer Defensive

4.2%
7.7%

Utilities

4.1%
1.4%

Communication Services

3.5%
15.8%

Real Estate

1.1%
0.1%

Basic Materials

0.4%
1.1%

Energy

0.2%
0.6%

Financial Services

PABG.L
32.6%
QQQ
0.2%

Technology

PABG.L
19.8%
QQQ
53.8%

Industrials

PABG.L
16.1%
QQQ
2.8%

Consumer Cyclical

PABG.L
9.9%
QQQ
12.3%

Healthcare

PABG.L
8.2%
QQQ
4.2%

Consumer Defensive

PABG.L
4.2%
QQQ
7.7%

Utilities

PABG.L
4.1%
QQQ
1.4%

Communication Services

PABG.L
3.5%
QQQ
15.8%

Real Estate

PABG.L
1.1%
QQQ
0.1%

Basic Materials

PABG.L
0.4%
QQQ
1.1%

Energy

PABG.L
0.2%
QQQ
0.6%

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Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc

Invesco QQQ ETF

Often compared with PABG.L:
PABG.L vs. LYPG.DEPABG.L vs. JPCT.DEPABG.L vs. ZPAB.DEPABG.L vs. XLVP.LPABG.L vs. LWCR.DEPABG.L vs. XDWT.DEPABG.L vs. WITS.AS
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

PABG.L vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PABG.L
PABG.L Risk / Return Rank: 3030
Overall Rank
PABG.L Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
PABG.L Sortino Ratio Rank: 3131
Sortino Ratio Rank
PABG.L Omega Ratio Rank: 3030
Omega Ratio Rank
PABG.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
PABG.L Martin Ratio Rank: 3232
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7575
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7474
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
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.

PABG.L vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) 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.

PABG.LQQQDifference
Sharpe ratioReturn per unit of total volatility
1.08
2.81

-1.74

Sortino ratioReturn per unit of downside risk
1.66
3.58

-1.93

Omega ratioGain probability vs. loss probability

1.20

1.50

-0.30

Calmar ratioReturn relative to maximum drawdown

1.40

3.62

-2.22

Martin ratioReturn relative to average drawdown

4.80

10.95

-6.14

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PABG.L vs. QQQ - Sharpe Ratio Comparison

The current PABG.L Sharpe Ratio is 1.08, which is lower than the QQQ Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of PABG.L 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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Sharpe Ratios by Period

PABG.LQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.08

2.81

-1.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

0.92

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.03

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.87

-0.16

Drawdowns

PABG.L vs. QQQ - Drawdown Comparison

The maximum PABG.L drawdown since its inception was -26.49%, smaller than the maximum QQQ drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for PABG.L and QQQ.

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Drawdown Indicators

PABG.LQQQDifference

Max Drawdown

Largest peak-to-trough decline

-26.49%

-34.25%

+7.76%

Max Drawdown (1Y)

Largest decline over 1 year

-11.78%

-11.89%

+0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-13.84%

-24.87%

+11.03%

Max Drawdown (5Y)

Largest decline over 5 years

-26.49%

-27.87%

+1.38%

Max Drawdown (10Y)

Largest decline over 10 years

—

-27.87%

—

Current Drawdown

Current decline from peak

-0.89%

0.00%

-0.89%

Average Drawdown

Average peak-to-trough decline

-5.64%

-5.47%

-0.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.45%

3.92%

-0.47%

Volatility

PABG.L vs. QQQ - Volatility Comparison

Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) has a higher volatility of 4.95% compared to Invesco QQQ ETF (QQQ) at 3.98%. This indicates that PABG.L'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

PABG.LQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.95%

3.98%

+0.97%

Volatility (6M)

Calculated over the trailing 6-month period

12.71%

10.98%

+1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

15.36%

15.31%

+0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.99%

21.11%

-4.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.74%

22.22%

-5.48%

PABG.L vs. QQQ - Expense Ratio Comparison

PABG.L has a 0.20% expense ratio, which is higher than QQQ's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PABG.L vs. QQQ - Dividend Comparison

PABG.L has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.38%.

PositionTTM20252024202320222021202020192018201720162015
PABG.L
Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc		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		0.38%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

PABG.L and QQQ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.20% for PABG.L.

PABG.L is categorized as Europe Equities, while QQQ is Nasdaq-100. PABG.L tracks MSCI EMU NR EUR, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.20% for PABG.L and 0.18% for QQQ.

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