QCGRIX vs. QQQM

Last updated Jun 4, 2026

QCGRIX (CREF Growth Account Class R3) and QQQM (Invesco NASDAQ 100 ETF) are both funds - QCGRIX is a Large Cap Growth Equities fund actively managed by TIAA-CREF, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. QCGRIX is actively managed, while QQQM is passively managed. Over the past year, QCGRIX returned 27.02% vs 41.98% for QQQM. Their correlation of 0.92 suggests significant overlap in exposure. QCGRIX charges 0.21%/yr vs 0.15%/yr for QQQM.

Performance

QCGRIX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CREF Growth Account Class R3 (QCGRIX) 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, QCGRIX achieves a 9.84% return, which is significantly lower than QQQM's 21.39% return.

QCGRIX

• 1D: -0.16%
• 1M: 5.74%
• YTD: 9.84%
• 6M: 9.11%
• 1Y: 27.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

QCGRIX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCGRIX CREF Growth Account Class R3	9.84%	14.41%	0.00%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	-2.18%

Correlation

The correlation between QCGRIX and QQQM is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 30, 2024	0.92

The correlation between QCGRIX and QQQM has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

QCGRIX vs. QQQM — Risk / Return Rank

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

QCGRIX

QCGRIX Risk / Return Rank: 28
QCGRIX Sharpe Ratio Rank: 34
QCGRIX Sortino Ratio Rank: 31
QCGRIX Omega Ratio Rank: 32
QCGRIX Calmar Ratio Rank: 21
QCGRIX Martin Ratio Rank: 22

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.

QCGRIX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CREF Growth Account Class R3 (QCGRIX) 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.

	QCGRIX	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.65	-0.96
Sortino ratio: Return per unit of downside risk	2.29	3.46	-1.17
Omega ratio: Gain probability vs. loss probability	1.29	1.45	-0.16
Calmar ratio: Return relative to maximum drawdown	1.68	3.53	-1.84
Martin ratio: Return relative to average drawdown	5.57	13.52	-7.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCGRIX vs. QQQM - Sharpe Ratio Comparison

The current QCGRIX Sharpe Ratio is 1.69, which is lower than the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of QCGRIX 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

	QCGRIX	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	2.65	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.85	+0.01

Drawdowns

QCGRIX vs. QQQM - Drawdown Comparison

The maximum QCGRIX drawdown since its inception was -23.93%, smaller than the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for QCGRIX and QQQM.

Drawdown Indicators

	QCGRIX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-23.93%	-35.04%	+11.11%
Max Drawdown (1Y) Largest decline over 1 year	-16.69%	-11.96%	-4.73%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.04%	—
Current Drawdown Current decline from peak	-0.16%	-0.20%	+0.04%
Average Drawdown Average peak-to-trough decline	-4.98%	-8.25%	+3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	3.11%	+1.91%

Volatility

QCGRIX vs. QQQM - Volatility Comparison

The current volatility for CREF Growth Account Class R3 (QCGRIX) is 3.55%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 4.48%. This indicates that QCGRIX 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

	QCGRIX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	4.48%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	12.05%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	16.63%	15.91%	+0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.83%	22.24%	-1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	22.12%	-1.29%

QCGRIX vs. QQQM - Expense Ratio Comparison

QCGRIX has a 0.21% expense ratio, which is higher than QQQM's 0.15% 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

QCGRIX vs. QQQM - Dividend Comparison

QCGRIX has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.41%.

Position	TTM	2025	2024	2023	2022	2021	2020
QCGRIX CREF Growth Account Class R3	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QCGRIX and QQQM in my portfolio?

With a correlation of 0.95, QCGRIX 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, QCGRIX or QQQM?

QQQM has higher volatility (4.48%) compared to QCGRIX (3.55%). In terms of maximum drawdown, QCGRIX dropped -23.93% vs QQQM's -35.04%.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 1.69), 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.