QNXT vs. QEW

Last updated Jun 4, 2026

QNXT (iShares Nasdaq-100 ex Top 30 ETF) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - QNXT tracks the Nasdaq-100 ex Top 30 UCITS Index while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. QNXT charges 0.20%/yr vs 0.25%/yr for QEW.

Performance

QNXT vs. QEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Invesco QQQ Equal Weight ETF (QEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QNXT

• 1D: -0.61%
• 1M: 9.65%
• YTD: 15.67%
• 6M: 13.13%
• 1Y: 25.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QEW

• 1D: -0.11%
• 1M: 10.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QNXT vs. QEW - Yearly Performance Comparison

	2026 (YTD)
QNXT iShares Nasdaq-100 ex Top 30 ETF	18.74%
QEW Invesco QQQ Equal Weight ETF	21.49%

Correlation

The correlation between QNXT and QEW 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 Mar 19, 2026	0.91

Return for Risk

QNXT vs. QEW — Risk / Return Rank

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

QNXT

QNXT Risk / Return Rank: 49
QNXT Sharpe Ratio Rank: 50
QNXT Sortino Ratio Rank: 49
QNXT Omega Ratio Rank: 47
QNXT Calmar Ratio Rank: 52
QNXT Martin Ratio Rank: 49

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.

QNXT vs. QEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Invesco QQQ Equal Weight ETF (QEW). 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.

	QNXT	QEW	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.37	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	8.17	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QNXT	QEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	9.75	-8.85

Drawdowns

QNXT vs. QEW - Drawdown Comparison

The maximum QNXT drawdown since its inception was -22.25%, which is greater than QEW's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for QNXT and QEW.

Drawdown Indicators

	QNXT	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-22.25%	-4.15%	-18.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	—	—
Current Drawdown Current decline from peak	-0.61%	-0.11%	-0.50%
Average Drawdown Average peak-to-trough decline	-3.79%	-0.57%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	—	—

Volatility

Volatility by Period

	QNXT	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	15.78%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	15.78%	+3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	15.78%	+3.95%

QNXT vs. QEW - Expense Ratio Comparison

QNXT has a 0.20% expense ratio, which is lower than QEW's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QNXT vs. QEW - Dividend Comparison

QNXT's dividend yield for the trailing twelve months is around 0.60%, while QEW has not paid dividends to shareholders.

Position	TTM	2025	2024
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%	0.00%
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%

Frequently Asked Questions

Can I hold both QNXT and QEW in my portfolio?

With a correlation of 0.91, QNXT and QEW 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, QNXT or QEW?

On fees, QNXT is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QNXT or QEW?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.25% for QEW.

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

QNXT has the higher dividend yield at 0.60%, compared with 0.00% for QEW.

What is the main difference between QNXT and QEW?

QNXT tracks Nasdaq-100 ex Top 30 UCITS Index, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for QNXT and 0.25% for QEW.