QOWZ vs. FMAG
Compare and contrast key facts about Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and Fidelity Magellan ETF (FMAG).
QOWZ and FMAG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QOWZ is a passively managed fund by Invesco that tracks the performance of the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross. It was launched on Dec 4, 2023. FMAG is an actively managed fund by Fidelity. It was launched on Feb 2, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QOWZ or FMAG.
Correlation
The correlation between QOWZ and FMAG is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QOWZ vs. FMAG - Performance Comparison
Key characteristics
QOWZ:
1.53
FMAG:
1.38
QOWZ:
2.11
FMAG:
1.89
QOWZ:
1.27
FMAG:
1.26
QOWZ:
3.13
FMAG:
2.25
QOWZ:
9.80
FMAG:
8.45
QOWZ:
2.75%
FMAG:
2.72%
QOWZ:
17.68%
FMAG:
16.75%
QOWZ:
-8.60%
FMAG:
-32.93%
QOWZ:
-1.50%
FMAG:
-1.33%
Returns By Period
In the year-to-date period, QOWZ achieves a 3.76% return, which is significantly lower than FMAG's 5.24% return.
QOWZ
3.76%
1.22%
11.17%
28.18%
N/A
N/A
FMAG
5.24%
1.91%
8.76%
23.12%
N/A
N/A
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QOWZ vs. FMAG - Expense Ratio Comparison
QOWZ has a 0.39% expense ratio, which is lower than FMAG's 0.59% expense ratio.
Risk-Adjusted Performance
QOWZ vs. FMAG — Risk-Adjusted Performance Rank
QOWZ
FMAG
QOWZ vs. FMAG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and Fidelity Magellan ETF (FMAG). 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.
Dividends
QOWZ vs. FMAG - Dividend Comparison
QOWZ's dividend yield for the trailing twelve months is around 0.64%, more than FMAG's 0.14% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF | 0.64% | 0.66% | 0.00% | 0.00% | 0.00% |
FMAG Fidelity Magellan ETF | 0.14% | 0.15% | 0.34% | 0.23% | 0.03% |
Drawdowns
QOWZ vs. FMAG - Drawdown Comparison
The maximum QOWZ drawdown since its inception was -8.60%, smaller than the maximum FMAG drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for QOWZ and FMAG. For additional features, visit the drawdowns tool.
Volatility
QOWZ vs. FMAG - Volatility Comparison
The current volatility for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) is 5.09%, while Fidelity Magellan ETF (FMAG) has a volatility of 5.88%. This indicates that QOWZ experiences smaller price fluctuations and is considered to be less risky than FMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.