QEW vs. QNDX

Last updated Jul 17, 2026

QEW (Invesco QQQ Equal Weight ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds - QEW tracks the Nasdaq-100 Equal Weighted Index while QNDX tracks the Nasdaq-100 Index. Both are passively managed. With a 0.96 correlation, they move nearly in lockstep. QEW charges 0.25%/yr vs 0.10%/yr for QNDX.

Performance

QEW vs. QNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Equal Weight ETF (QEW) and SPDR Portfolio Nasdaq 100 ETF (QNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QEW

• 1D: -0.34%
• 1M: -1.66%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QNDX

• 1D: -1.56%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QEW vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QEW Invesco QQQ Equal Weight ETF	-0.41%
QNDX SPDR Portfolio Nasdaq 100 ETF	-1.16%

Correlation

The correlation between QEW and QNDX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.96

Return for Risk

QEW vs. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Equal Weight ETF (QEW) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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.

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

Drawdowns

QEW vs. QNDX - Drawdown Comparison

The maximum QEW drawdown since its inception was -5.87%, which is greater than QNDX's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for QEW and QNDX.

Drawdown Indicators

	QEW	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-5.87%	-4.09%	-1.78%
Current Drawdown Current decline from peak	-3.44%	-4.09%	+0.65%
Average Drawdown Average peak-to-trough decline	-1.32%	-1.91%	+0.59%

Volatility

Volatility by Period

	QEW	QNDX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.30%	22.37%	-3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	22.37%	-3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	22.37%	-3.07%

QEW vs. QNDX - Expense Ratio Comparison

QEW has a 0.25% expense ratio, which is higher than QNDX's 0.10% 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

QEW vs. QNDX - Dividend Comparison

QEW's dividend yield for the trailing twelve months is around 0.11%, while QNDX has not paid dividends to shareholders.

Position	TTM
QEW Invesco QQQ Equal Weight ETF	0.11%
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%

Frequently Asked Questions

Can I hold both QEW and QNDX in my portfolio?

With a correlation of 0.96, QEW and QNDX 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 ETF is better, QEW or QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QEW or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.25% for QEW.

Which ETF pays a higher dividend yield, QEW or QNDX?

QEW has the higher dividend yield at 0.11%, compared with 0.00% for QNDX.

What is the main difference between QEW and QNDX?

QEW tracks Nasdaq-100 Equal Weighted Index, while QNDX tracks Nasdaq-100 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.25% for QEW and 0.10% for QNDX.