QNDX vs. QQEW

Last updated Jul 17, 2026

QNDX (SPDR Portfolio Nasdaq 100 ETF) and QQEW (First Trust Nasdaq-100 Equal Weighted Index Fund) are both Nasdaq-100 funds - QNDX tracks the Nasdaq-100 Index while QQEW tracks the NASDAQ-100 Equal Weighted Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. QNDX charges 0.10%/yr vs 0.58%/yr for QQEW.

Performance

QNDX vs. QQEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Nasdaq 100 ETF (QNDX) and First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QNDX

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

QQEW

• 1D: -0.41%
• 1M: 0.32%
• 6M: 10.69%
• YTD: 9.90%
• 1Y: 14.61%
• 3Y*: 12.62%
• 5Y*: 7.68%
• 10Y*: 14.04%

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

QNDX vs. QQEW - Yearly Performance Comparison

	2026 (YTD)
QNDX SPDR Portfolio Nasdaq 100 ETF	-1.16%
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	2.10%

Correlation

The correlation between QNDX and QQEW is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.91

Return for Risk

QNDX vs. QQEW — Risk / Return Rank

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

QNDX

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

QQEW

QQEW Risk / Return Rank: 26
QQEW Sharpe Ratio Rank: 27
QQEW Sortino Ratio Rank: 26
QQEW Omega Ratio Rank: 25
QQEW Calmar Ratio Rank: 24
QQEW Martin Ratio Rank: 26

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.

QNDX vs. QQEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Nasdaq 100 ETF (QNDX) and First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW). 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.

	QNDX	QQEW	Difference
Sharpe ratio: Return per unit of total volatility	—	0.81	—
Sortino ratio: Return per unit of downside risk	—	1.23	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	0.93	—
Martin ratio: Return relative to average drawdown	—	2.76	—

Drawdowns

QNDX vs. QQEW - Drawdown Comparison

The maximum QNDX drawdown since its inception was -4.09%, smaller than the maximum QQEW drawdown of -58.16%. Use the drawdown chart below to compare losses from any high point for QNDX and QQEW.

Drawdown Indicators

	QNDX	QQEW	Difference
Max Drawdown Largest peak-to-trough decline	-4.09%	-58.16%	+54.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.74%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.12%	—
Current Drawdown Current decline from peak	-4.09%	-3.51%	-0.58%
Average Drawdown Average peak-to-trough decline	-1.91%	-8.27%	+6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.30%	—

Volatility

Volatility by Period

	QNDX	QQEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.37%	18.17%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.37%	21.02%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	20.89%	+1.48%

QNDX vs. QQEW - Expense Ratio Comparison

QNDX has a 0.10% expense ratio, which is lower than QQEW's 0.58% expense ratio.

Dividends

QNDX vs. QQEW - Dividend Comparison

QNDX has not paid dividends to shareholders, while QQEW's dividend yield for the trailing twelve months is around 0.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	0.20%	0.41%	0.57%	0.70%	0.66%	0.24%	0.34%	0.48%	0.56%	0.48%	0.73%	0.61%

Frequently Asked Questions

Can I hold both QNDX and QQEW in my portfolio?

With a correlation of 0.91, QNDX and QQEW 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, QNDX or QQEW?

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, QNDX or QQEW?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.58% for QQEW.

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

QQEW has the higher dividend yield at 0.20%, compared with 0.00% for QNDX.

What is the main difference between QNDX and QQEW?

QNDX tracks Nasdaq-100 Index, while QQEW tracks NASDAQ-100 Equal Weighted Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.10% for QNDX and 0.58% for QQEW.