QOWZ vs. FLOW
QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) is Large Cap Growth Equities fund tracking the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross, while FLOW (SPX FLOW, Inc.) is a stock. Over the past year, QOWZ returned -5.02% vs 23.91% for FLOW. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
QOWZ vs. FLOW - Performance Comparison
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Returns By Period
In the year-to-date period, QOWZ achieves a -7.89% return, which is significantly lower than FLOW's 5.49% return.
QOWZ
- 1D
- -0.15%
- 1M
- -2.96%
- YTD
- -7.89%
- 6M
- -9.21%
- 1Y
- -5.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLOW
- 1D
- -0.25%
- 1M
- -1.19%
- YTD
- 5.49%
- 6M
- 4.73%
- 1Y
- 23.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QOWZ vs. FLOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF | -7.89% | 7.24% | 33.16% | 5.69% |
FLOW SPX FLOW, Inc. | 5.49% | 17.52% | 13.03% | 5.12% |
Correlation
The correlation between QOWZ and FLOW is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023 | 0.58 |
The correlation between QOWZ and FLOW has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.
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Return for Risk
QOWZ vs. FLOW — Risk / Return Rank
QOWZ
FLOW
QOWZ vs. FLOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and SPX FLOW, Inc. (FLOW). 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.
| QOWZ | FLOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.67 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.28 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 3.63 | -3.91 |
| Martin ratioReturn relative to average drawdown | -0.71 | 9.64 | -10.35 |
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Drawdowns
QOWZ vs. FLOW - Drawdown Comparison
The maximum QOWZ drawdown since its inception was -20.36%, smaller than the maximum FLOW drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for QOWZ and FLOW.
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Drawdown Indicators
| QOWZ | FLOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.36% | -21.64% | +1.28% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -6.61% | -11.20% |
Current DrawdownCurrent decline from peak | -11.40% | -5.30% | -6.10% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -3.15% | -0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.10% | 2.49% | +4.61% |
Volatility
QOWZ vs. FLOW - Volatility Comparison
Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) has a higher volatility of 6.20% compared to SPX FLOW, Inc. (FLOW) at 4.58%. This indicates that QOWZ's price experiences larger fluctuations and is considered to be riskier than FLOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QOWZ | FLOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 4.58% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 12.49% | 10.37% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.51% | 15.44% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.27% | 16.93% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.27% | 16.93% | +2.34% |
Dividends
QOWZ vs. FLOW - Dividend Comparison
QOWZ's dividend yield for the trailing twelve months is around 0.27%, less than FLOW's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FLOW SPX FLOW, Inc. | 2.12% | 2.15% | 2.10% | 0.95% |
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF | 0.27% | 0.28% | 0.66% | 0.00% |
Frequently Asked Questions
QOWZ and FLOW have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QOWZ has higher volatility (6.20%) compared to FLOW (4.58%). In terms of maximum drawdown, QOWZ dropped -20.36% vs FLOW's -21.64%.
FLOW currently has the higher Sharpe Ratio (1.56 vs -0.32), 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.
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