QOWZ vs. MEME

Last updated Jun 4, 2026

QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) and MEME (Roundhill Meme Stock ETF) are both Large Cap Growth Equities funds. QOWZ is passively managed, while MEME is actively managed. At a 0.34 correlation, their price movements are largely independent. QOWZ charges 0.39%/yr vs 0.69%/yr for MEME.

Performance

QOWZ vs. MEME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and Roundhill Meme Stock ETF (MEME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QOWZ achieves a -1.71% return, which is significantly lower than MEME's 79.03% return.

QOWZ

• 1D: -1.13%
• 1M: 6.39%
• YTD: -1.71%
• 6M: -1.76%
• 1Y: 2.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MEME

• 1D: -5.29%
• 1M: 25.28%
• YTD: 79.03%
• 6M: 68.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QOWZ vs. MEME - Yearly Performance Comparison

	2026 (YTD)	2025
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	-1.71%	-2.41%
MEME Roundhill Meme Stock ETF	79.03%	-36.83%

Correlation

The correlation between QOWZ and MEME is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.34

QOWZ vs. MEME - Sectors Allocation Comparison

Sectors	QOWZ	MEME
Technology	57.9%	58.8%
Industrials	12.4%	29.9%
Healthcare	9.8%	5.4%
Communication Services	8.5%	5.5%
Financial Services	5.1%	5.7%
Consumer Cyclical	4.1%	-
Consumer Defensive	2.1%	-
Basic Materials	-	4.6%
Energy	-	4.8%
Real Estate	-	-
Utilities	-	10.7%

Return for Risk

QOWZ vs. MEME — Risk / Return Rank

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

QOWZ

QOWZ Risk / Return Rank: 11
QOWZ Sharpe Ratio Rank: 11
QOWZ Sortino Ratio Rank: 11
QOWZ Omega Ratio Rank: 10
QOWZ Calmar Ratio Rank: 10
QOWZ Martin Ratio Rank: 11

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.

QOWZ vs. MEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and Roundhill Meme Stock ETF (MEME). 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.

	QOWZ	MEME	Difference
Sharpe ratio: Return per unit of total volatility	0.19	—	—
Sortino ratio: Return per unit of downside risk	0.36	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.16	—	—
Martin ratio: Return relative to average drawdown	0.42	—	—
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

	QOWZ	MEME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.28	+0.63

Drawdowns

QOWZ vs. MEME - Drawdown Comparison

The maximum QOWZ drawdown since its inception was -20.36%, smaller than the maximum MEME drawdown of -48.78%. Use the drawdown chart below to compare losses from any high point for QOWZ and MEME.

Drawdown Indicators

	QOWZ	MEME	Difference
Max Drawdown Largest peak-to-trough decline	-20.36%	-48.78%	+28.42%
Max Drawdown (1Y) Largest decline over 1 year	-17.81%	—	—
Current Drawdown Current decline from peak	-5.46%	-5.93%	+0.47%
Average Drawdown Average peak-to-trough decline	-3.98%	-29.90%	+25.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.70%	—	—

Volatility

Volatility by Period

	QOWZ	MEME	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	74.19%	-58.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	74.19%	-54.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	74.19%	-54.92%

QOWZ vs. MEME - Expense Ratio Comparison

QOWZ has a 0.39% expense ratio, which is lower than MEME's 0.69% expense ratio.

Dividends

QOWZ vs. MEME - Dividend Comparison

QOWZ's dividend yield for the trailing twelve months is around 0.26%, while MEME has not paid dividends to shareholders.

Position	TTM	2025	2024
MEME Roundhill Meme Stock ETF	0.00%	0.00%	0.00%
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	0.26%	0.28%	0.66%

Frequently Asked Questions

Can I hold both QOWZ and MEME in my portfolio?

QOWZ and MEME have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QOWZ or MEME?

On fees, QOWZ is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QOWZ or MEME?

QOWZ is cheaper with a 0.39% expense ratio, compared with 0.69% for MEME.

Which ETF pays a higher dividend yield, QOWZ or MEME?

QOWZ has the higher dividend yield at 0.26%, compared with 0.00% for MEME.

What is the main difference between QOWZ and MEME?

They also come from different issuers: Invesco and Roundhill. Their fees differ too: 0.39% for QOWZ and 0.69% for MEME.