QOWZ vs. VUG

Last updated Jun 4, 2026

QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) and VUG (Vanguard Growth ETF) are both Large Cap Growth Equities funds - QOWZ tracks the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross while VUG tracks the CRSP US Large Cap Growth Index. Both are passively managed. Over the past year, QOWZ returned 2.83% vs 27.84% for VUG. Their correlation of 0.84 suggests significant overlap in exposure. QOWZ charges 0.39%/yr vs 0.03%/yr for VUG.

Performance

QOWZ vs. VUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and Vanguard Growth ETF (VUG). 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 VUG's 9.49% return.

QOWZ

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

VUG

• 1D: -1.23%
• 1M: 6.22%
• YTD: 9.49%
• 6M: 8.72%
• 1Y: 27.84%
• 3Y*: 25.93%
• 5Y*: 15.11%
• 10Y*: 18.26%

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

QOWZ vs. VUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	-1.71%	7.24%	33.16%	6.47%
VUG Vanguard Growth ETF	9.49%	19.40%	32.69%	5.00%

Correlation

The correlation between QOWZ and VUG is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.84

The correlation between QOWZ and VUG has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

QOWZ vs. VUG - Sectors Allocation Comparison

Sectors	QOWZ	VUG
Technology	57.9%	53.5%
Industrials	12.4%	3.6%
Healthcare	9.8%	4.6%
Communication Services	8.5%	17.3%
Financial Services	5.1%	4.3%
Consumer Cyclical	4.1%	12.2%
Consumer Defensive	2.1%	1.5%
Basic Materials	-	0.6%
Energy	-	0.4%
Real Estate	-	1.0%
Utilities	-	0.9%

Return for Risk

QOWZ vs. VUG — 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

VUG

VUG Risk / Return Rank: 43
VUG Sharpe Ratio Rank: 50
VUG Sortino Ratio Rank: 47
VUG Omega Ratio Rank: 48
VUG Calmar Ratio Rank: 33
VUG Martin Ratio Rank: 37

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. VUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) and Vanguard Growth ETF (VUG). 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	VUG	Difference
Sharpe ratio: Return per unit of total volatility	0.19	1.77	-1.58
Sortino ratio: Return per unit of downside risk	0.36	2.40	-2.04
Omega ratio: Gain probability vs. loss probability	1.04	1.31	-0.26
Calmar ratio: Return relative to maximum drawdown	0.16	1.69	-1.53
Martin ratio: Return relative to average drawdown	0.42	5.92	-5.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QOWZ vs. VUG - Sharpe Ratio Comparison

The current QOWZ Sharpe Ratio is 0.19, which is lower than the VUG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of QOWZ and VUG, 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

	QOWZ	VUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	1.77	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.62	+0.30

Drawdowns

QOWZ vs. VUG - Drawdown Comparison

The maximum QOWZ drawdown since its inception was -20.36%, smaller than the maximum VUG drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for QOWZ and VUG.

Drawdown Indicators

	QOWZ	VUG	Difference
Max Drawdown Largest peak-to-trough decline	-20.36%	-50.68%	+30.32%
Max Drawdown (1Y) Largest decline over 1 year	-17.81%	-16.53%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.61%	—
Current Drawdown Current decline from peak	-5.46%	-1.51%	-3.95%
Average Drawdown Average peak-to-trough decline	-3.98%	-7.09%	+3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.70%	4.71%	+1.99%

Volatility

QOWZ vs. VUG - Volatility Comparison

Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) has a higher volatility of 5.04% compared to Vanguard Growth ETF (VUG) at 3.83%. This indicates that QOWZ's price experiences larger fluctuations and is considered to be riskier than VUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QOWZ	VUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	3.83%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	12.11%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	15.84%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	22.22%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	21.44%	-2.17%

QOWZ vs. VUG - Expense Ratio Comparison

QOWZ has a 0.39% expense ratio, which is higher than VUG's 0.03% expense ratio.

Dividends

QOWZ vs. VUG - Dividend Comparison

QOWZ's dividend yield for the trailing twelve months is around 0.26%, less than VUG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	0.26%	0.28%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VUG Vanguard Growth ETF	0.37%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Frequently Asked Questions

Can I hold both QOWZ and VUG in my portfolio?

QOWZ and VUG have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QOWZ or VUG?

QOWZ has higher volatility (5.04%) compared to VUG (3.83%). In terms of maximum drawdown, QOWZ dropped -20.36% vs VUG's -50.68%.

Which ETF is better, QOWZ or VUG?

On 1-year performance, VUG leads with 27.84% vs 2.83% for QOWZ. On fees, VUG is cheaper at 0.03% per year. On volatility, VUG has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QOWZ or VUG?

Over the 1-year period, VUG has performed better with a 27.84% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QOWZ or VUG?

VUG is cheaper with a 0.03% expense ratio, compared with 0.39% for QOWZ.

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

VUG has the higher dividend yield at 0.37%, compared with 0.26% for QOWZ.

What is the main difference between QOWZ and VUG?

QOWZ tracks Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross, while VUG tracks CRSP US Large Cap Growth Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.39% for QOWZ and 0.03% for VUG.

Which has better risk-adjusted returns?

VUG currently has the higher Sharpe Ratio (1.77 vs 0.19), 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.