QNXT vs. QQQE

Last updated Jun 4, 2026

QNXT (iShares Nasdaq-100 ex Top 30 ETF) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both Nasdaq-100 funds - QNXT tracks the Nasdaq-100 ex Top 30 UCITS Index while QQQE tracks the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past year, QNXT returned 25.34% vs 28.68% for QQQE. With a 0.97 correlation, they move nearly in lockstep. QNXT charges 0.20%/yr vs 0.35%/yr for QQQE.

Performance

QNXT vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QNXT achieves a 15.67% return, which is significantly lower than QQQE's 19.12% return.

QNXT

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

QQQE

• 1D: -0.10%
• 1M: 10.46%
• YTD: 19.12%
• 6M: 17.48%
• 1Y: 28.68%
• 3Y*: 18.69%
• 5Y*: 10.30%
• 10Y*: 15.49%

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

QNXT vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QNXT iShares Nasdaq-100 ex Top 30 ETF	15.67%	14.97%	-2.52%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	19.12%	14.58%	-0.41%

Correlation

The correlation between QNXT and QQQE 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 (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.97

The correlation between QNXT and QQQE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

QNXT vs. QQQE - Sectors Allocation Comparison

Sectors	QNXT	QQQE
Technology	40.3%	45.1%
Consumer Cyclical	17.0%	10.9%
Industrials	10.6%	10.1%
Communication Services	8.8%	9.1%
Healthcare	7.5%	8.6%
Utilities	6.1%	3.9%
Consumer Defensive	5.7%	7.7%
Energy	2.7%	2.0%
Financial Services	1.0%	1.0%
Real Estate	0.3%	0.7%
Basic Materials	-	0.9%

Return for Risk

QNXT vs. QQQE — 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

QQQE

QQQE Risk / Return Rank: 58
QQQE Sharpe Ratio Rank: 59
QQQE Sortino Ratio Rank: 57
QQQE Omega Ratio Rank: 55
QQQE Calmar Ratio Rank: 61
QQQE Martin Ratio Rank: 59

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. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.04	-0.34
Sortino ratio: Return per unit of downside risk	2.37	2.79	-0.42
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.50	3.06	-0.56
Martin ratio: Return relative to average drawdown	8.17	10.57	-2.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNXT vs. QQQE - Sharpe Ratio Comparison

The current QNXT Sharpe Ratio is 1.70, which is comparable to the QQQE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of QNXT and QQQE, 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

	QNXT	QQQE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	2.04	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.76	+0.13

Drawdowns

QNXT vs. QQQE - Drawdown Comparison

The maximum QNXT drawdown since its inception was -22.25%, smaller than the maximum QQQE drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for QNXT and QQQE.

Drawdown Indicators

	QNXT	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-22.25%	-32.14%	+9.89%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-9.41%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.14%	—
Current Drawdown Current decline from peak	-0.61%	-0.10%	-0.51%
Average Drawdown Average peak-to-trough decline	-3.79%	-5.17%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.72%	+0.39%

Volatility

QNXT vs. QQQE - Volatility Comparison

The current volatility for iShares Nasdaq-100 ex Top 30 ETF (QNXT) is 3.52%, while Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a volatility of 3.79%. This indicates that QNXT experiences smaller price fluctuations and is considered to be less risky than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QNXT	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	3.79%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	10.64%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	14.15%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	20.30%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	20.72%	-0.99%

QNXT vs. QQQE - Expense Ratio Comparison

QNXT has a 0.20% expense ratio, which is lower than QQQE's 0.35% expense ratio.

Dividends

QNXT vs. QQQE - Dividend Comparison

QNXT's dividend yield for the trailing twelve months is around 0.60%, more than QQQE's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.52%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both QNXT and QQQE in my portfolio?

With a correlation of 0.96, QNXT and QQQE 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, QNXT or QQQE?

QQQE has higher volatility (3.79%) compared to QNXT (3.52%). In terms of maximum drawdown, QNXT dropped -22.25% vs QQQE's -32.14%.

Which ETF is better, QNXT or QQQE?

On 1-year performance, QQQE leads with 28.68% vs 25.34% for QNXT. On fees, QNXT is cheaper at 0.20% per year. On volatility, QNXT has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QNXT or QQQE?

Over the 1-year period, QQQE has performed better with a 28.68% return vs 25.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QNXT or QQQE?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.35% for QQQE.

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

QNXT has the higher dividend yield at 0.60%, compared with 0.52% for QQQE.

What is the main difference between QNXT and QQQE?

QNXT tracks Nasdaq-100 ex Top 30 UCITS Index, while QQQE tracks NASDAQ-100 Equal Weighted Index. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.20% for QNXT and 0.35% for QQQE.

Which has better risk-adjusted returns?

QQQE currently has the higher Sharpe Ratio (2.04 vs 1.70), 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.