QQA vs. IVVW

Last updated Jun 4, 2026

QQA (Invesco QQQ Income Advantage ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. QQA is actively managed, while IVVW is passively managed. Over the past year, QQA returned 32.22% vs 20.07% for IVVW. Their correlation of 0.84 suggests significant overlap in exposure. QQA charges 0.29%/yr vs 0.25%/yr for IVVW.

Performance

QQA vs. IVVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Income Advantage ETF (QQA) and iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQA achieves a 14.57% return, which is significantly higher than IVVW's 4.84% return.

QQA

• 1D: -0.10%
• 1M: 7.03%
• YTD: 14.57%
• 6M: 14.20%
• 1Y: 32.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVW

• 1D: -0.02%
• 1M: 1.90%
• YTD: 4.84%
• 6M: 6.58%
• 1Y: 20.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQA vs. IVVW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQA Invesco QQQ Income Advantage ETF	14.57%	17.24%	7.11%
IVVW iShares S&P 500 BuyWrite ETF	4.84%	11.71%	6.81%

Correlation

The correlation between QQA and IVVW is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.84

The correlation between QQA and IVVW has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

QQA vs. IVVW - Sectors Allocation Comparison

Sectors	QQA	IVVW
Technology	53.8%	35.6%
Communication Services	15.8%	11.2%
Consumer Cyclical	12.3%	10.1%
Consumer Defensive	7.7%	4.9%
Healthcare	4.2%	8.5%
Industrials	2.8%	8.3%
Utilities	1.4%	2.4%
Basic Materials	1.1%	1.8%
Energy	0.6%	3.5%
Financial Services	0.2%	11.8%
Real Estate	0.1%	1.9%

Return for Risk

QQA vs. IVVW — Risk / Return Rank

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

QQA

QQA Risk / Return Rank: 77
QQA Sharpe Ratio Rank: 77
QQA Sortino Ratio Rank: 75
QQA Omega Ratio Rank: 76
QQA Calmar Ratio Rank: 73
QQA Martin Ratio Rank: 81

IVVW

IVVW Risk / Return Rank: 82
IVVW Sharpe Ratio Rank: 82
IVVW Sortino Ratio Rank: 83
IVVW Omega Ratio Rank: 91
IVVW Calmar Ratio Rank: 69
IVVW Martin Ratio Rank: 87

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.

QQA vs. IVVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Income Advantage ETF (QQA) and iShares S&P 500 BuyWrite ETF (IVVW). 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.

	QQA	IVVW	Difference
Sharpe ratio Return per unit of total volatility	2.57	2.73	-0.15
Sortino ratio Return per unit of downside risk	3.47	3.77	-0.31
Omega ratio Gain probability vs. loss probability	1.46	1.61	-0.15
Calmar ratio Return relative to maximum drawdown	3.70	3.47	+0.23
Martin ratio Return relative to average drawdown	16.59	19.13	-2.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQA vs. IVVW - Sharpe Ratio Comparison

The current QQA Sharpe Ratio is 2.57, which is comparable to the IVVW Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of QQA and IVVW, 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

	QQA	IVVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.73	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	1.07	+0.11

Drawdowns

QQA vs. IVVW - Drawdown Comparison

The maximum QQA drawdown since its inception was -19.73%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for QQA and IVVW.

Drawdown Indicators

	QQA	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-16.79%	-2.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-5.81%	-2.95%
Current Drawdown Current decline from peak	-0.10%	-0.09%	-0.01%
Average Drawdown Average peak-to-trough decline	-2.44%	-1.75%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.05%	+0.90%

Volatility

QQA vs. IVVW - Volatility Comparison

Invesco QQQ Income Advantage ETF (QQA) has a higher volatility of 2.91% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 1.13%. This indicates that QQA's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQA	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	1.13%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	6.07%	+3.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	7.40%	+5.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.27%	12.66%	+5.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	12.66%	+5.61%

QQA vs. IVVW - Expense Ratio Comparison

QQA has a 0.29% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

QQA vs. IVVW - Dividend Comparison

QQA's dividend yield for the trailing twelve months is around 9.29%, less than IVVW's 19.70% yield.

Position	TTM	2025	2024
IVVW iShares S&P 500 BuyWrite ETF	19.70%	18.55%	13.72%
QQA Invesco QQQ Income Advantage ETF	9.29%	9.78%	4.29%

Frequently Asked Questions

Can I hold both QQA and IVVW in my portfolio?

QQA and IVVW have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQA or IVVW?

QQA has higher volatility (2.91%) compared to IVVW (1.13%). In terms of maximum drawdown, QQA dropped -19.73% vs IVVW's -16.79%.

Which ETF is better, QQA or IVVW?

On 1-year performance, QQA leads with 32.22% vs 20.07% for IVVW. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQA or IVVW?

Over the 1-year period, QQA has performed better with a 32.22% return vs 20.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQA or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 0.29% for QQA.

Which ETF pays a higher dividend yield, QQA or IVVW?

IVVW has the higher dividend yield at 19.70%, compared with 9.29% for QQA.

What is the main difference between QQA and IVVW?

They also come from different issuers: Invesco and iShares. Their fees differ too: 0.29% for QQA and 0.25% for IVVW.

Which has better risk-adjusted returns?

IVVW currently has the higher Sharpe Ratio (2.73 vs 2.57), 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.