QQA vs. QQQI

Last updated Jun 3, 2026

QQA (Invesco QQQ Income Advantage ETF) and QQQI (NEOS Nasdaq-100 High Income ETF) are both exchange-traded funds - QQA is a Derivative Income fund actively managed by Invesco, while QQQI is a Nasdaq-100 fund actively managed by Neos. Both are actively managed. Over the past year, QQA returned 33.20% vs 31.46% for QQQI. Their correlation of 0.95 suggests significant overlap in exposure. QQA charges 0.29%/yr vs 0.68%/yr for QQQI.

Performance

QQA vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Income Advantage ETF (QQA) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQA achieves a 14.68% return, which is significantly higher than QQQI's 13.63% return.

QQA

• 1D: 0.33%
• 1M: 7.02%
• YTD: 14.68%
• 6M: 14.53%
• 1Y: 33.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQI

• 1D: 0.38%
• 1M: 6.99%
• YTD: 13.63%
• 6M: 13.39%
• 1Y: 31.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQA vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQA Invesco QQQ Income Advantage ETF	14.68%	17.24%	7.11%
QQQI NEOS Nasdaq-100 High Income ETF	13.63%	18.62%	8.27%

Correlation

The correlation between QQA and QQQI is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.95

The correlation between QQA and QQQI has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

QQA vs. QQQI - Sectors Allocation Comparison

Sectors	QQA	QQQI
Technology	53.8%	53.3%
Communication Services	15.8%	15.7%
Consumer Cyclical	12.3%	12.1%
Consumer Defensive	7.7%	7.7%
Healthcare	4.2%	4.3%
Industrials	2.8%	3.3%
Utilities	1.4%	1.5%
Basic Materials	1.1%	1.2%
Energy	0.6%	0.7%
Financial Services	0.2%	0.3%
Real Estate	0.1%	0.1%

Return for Risk

QQA vs. QQQI — Risk / Return Rank

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

QQA

QQA Risk / Return Rank: 80
QQA Sharpe Ratio Rank: 81
QQA Sortino Ratio Rank: 78
QQA Omega Ratio Rank: 79
QQA Calmar Ratio Rank: 76
QQA Martin Ratio Rank: 84

QQQI

QQQI Risk / Return Rank: 72
QQQI Sharpe Ratio Rank: 74
QQQI Sortino Ratio Rank: 69
QQQI Omega Ratio Rank: 74
QQQI Calmar Ratio Rank: 67
QQQI Martin Ratio Rank: 77

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. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Income Advantage ETF (QQA) and NEOS Nasdaq-100 High Income ETF (QQQI). 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	QQQI	Difference
Sharpe ratio Return per unit of total volatility	2.65	2.44	+0.21
Sortino ratio Return per unit of downside risk	3.56	3.21	+0.35
Omega ratio Gain probability vs. loss probability	1.48	1.45	+0.03
Calmar ratio Return relative to maximum drawdown	3.91	3.34	+0.57
Martin ratio Return relative to average drawdown	17.57	15.01	+2.55
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. QQQI - Sharpe Ratio Comparison

The current QQA Sharpe Ratio is 2.65, which is comparable to the QQQI Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of QQA and QQQI, 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	QQQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	2.44	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	1.34	-0.16

Drawdowns

QQA vs. QQQI - Drawdown Comparison

The maximum QQA drawdown since its inception was -19.73%, roughly equal to the maximum QQQI drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for QQA and QQQI.

Drawdown Indicators

	QQA	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-20.00%	+0.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-9.61%	+0.85%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.45%	-2.20%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.14%	-0.19%

Volatility

QQA vs. QQQI - Volatility Comparison

Invesco QQQ Income Advantage ETF (QQA) has a higher volatility of 2.91% compared to NEOS Nasdaq-100 High Income ETF (QQQI) at 2.67%. This indicates that QQA's price experiences larger fluctuations and is considered to be riskier than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQA	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	2.67%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	9.85%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	12.98%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	17.08%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	17.08%	+1.21%

QQA vs. QQQI - Expense Ratio Comparison

QQA has a 0.29% expense ratio, which is lower than QQQI's 0.68% expense ratio.

Dividends

QQA vs. QQQI - Dividend Comparison

QQA's dividend yield for the trailing twelve months is around 9.28%, less than QQQI's 13.17% yield.

Position	TTM	2025	2024
QQA Invesco QQQ Income Advantage ETF	9.28%	9.78%	4.29%
QQQI NEOS Nasdaq-100 High Income ETF	13.17%	13.82%	12.85%

Frequently Asked Questions

Can I hold both QQA and QQQI in my portfolio?

With a correlation of 0.97, QQA and QQQI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQA or QQQI?

QQA has higher volatility (2.91%) compared to QQQI (2.67%). In terms of maximum drawdown, QQA dropped -19.73% vs QQQI's -20.00%.

Which ETF is better, QQA or QQQI?

On 1-year performance, QQA leads with 33.20% vs 31.46% for QQQI. On fees, QQA is cheaper at 0.29% per year. On volatility, QQQI has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQA or QQQI?

Over the 1-year period, QQA has performed better with a 33.20% return vs 31.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQA or QQQI?

QQA is cheaper with a 0.29% expense ratio, compared with 0.68% for QQQI.

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

QQQI has the higher dividend yield at 13.17%, compared with 9.28% for QQA.

What is the main difference between QQA and QQQI?

QQA is categorized as Derivative Income, while QQQI is Nasdaq-100. They also come from different issuers: Invesco and Neos. Their fees differ too: 0.29% for QQA and 0.68% for QQQI.

Which has better risk-adjusted returns?

QQA currently has the higher Sharpe Ratio (2.65 vs 2.44), 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.