QQA vs. QQQM

Last updated Jun 24, 2026

QQA (Invesco QQQ Income Advantage ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - QQA is a Derivative Income fund actively managed by Invesco, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. QQA is actively managed, while QQQM is passively managed. Over the past year, QQA returned 28.19% vs 34.99% for QQQM. Their correlation of 0.94 suggests significant overlap in exposure. QQA charges 0.29%/yr vs 0.15%/yr for QQQM.

Performance

QQA vs. QQQM - Performance Comparison

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

Returns By Period

In the year-to-date period, QQA achieves a 12.34% return, which is significantly lower than QQQM's 16.48% return.

QQA

• 1D: -1.80%
• 1M: 0.69%
• YTD: 12.34%
• 6M: 11.54%
• 1Y: 28.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQM

• 1D: -3.30%
• 1M: -0.42%
• YTD: 16.48%
• 6M: 15.00%
• 1Y: 34.99%
• 3Y*: 26.15%
• 5Y*: 16.11%
• 10Y*: —

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

QQA vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQA Invesco QQQ Income Advantage ETF	12.34%	17.24%	5.92%
QQQM Invesco NASDAQ 100 ETF	16.48%	20.85%	3.34%

Correlation

The correlation between QQA and QQQM 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 17, 2024	0.94

The correlation between QQA and QQQM has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

QQA vs. QQQM - Sectors Allocation Comparison

Sectors	QQA	QQQM
Technology	58.7%	58.7%
Communication Services	14.3%	14.3%
Consumer Cyclical	11.4%	11.4%
Consumer Defensive	6.4%	6.4%
Healthcare	3.7%	3.7%
Industrials	2.6%	2.6%
Utilities	1.2%	1.2%
Basic Materials	1.0%	1.0%
Energy	0.5%	0.5%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

QQA vs. QQQM — Risk / Return Rank

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

QQA

QQA Risk / Return Rank: 67
QQA Sharpe Ratio Rank: 65
QQA Sortino Ratio Rank: 61
QQA Omega Ratio Rank: 64
QQA Calmar Ratio Rank: 67
QQA Martin Ratio Rank: 76

QQQM

QQQM Risk / Return Rank: 60
QQQM Sharpe Ratio Rank: 61
QQQM Sortino Ratio Rank: 56
QQQM Omega Ratio Rank: 59
QQQM Calmar Ratio Rank: 61
QQQM Martin Ratio Rank: 62

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. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Income Advantage ETF (QQA) and Invesco NASDAQ 100 ETF (QQQM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QQA	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.97	+0.06
Sortino ratio: Return per unit of downside risk	2.74	2.58	+0.16
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	3.23	2.94	+0.30
Martin ratio: Return relative to average drawdown	13.90	10.88	+3.02

QQA vs. QQQM - Sharpe Ratio Comparison

The current QQA Sharpe Ratio is 2.03, which is comparable to the QQQM Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of QQA and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQA vs. QQQM - Drawdown Comparison

The maximum QQA drawdown since its inception was -19.73%, smaller than the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for QQA and QQQM.

Drawdown Indicators

	QQA	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-35.04%	+15.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-11.96%	+3.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.04%	—
Current Drawdown Current decline from peak	-2.14%	-4.24%	+2.10%
Average Drawdown Average peak-to-trough decline	-2.53%	-8.20%	+5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	3.22%	-1.19%

Volatility

QQA vs. QQQM - Volatility Comparison

The current volatility for Invesco QQQ Income Advantage ETF (QQA) is 6.67%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 9.00%. This indicates that QQA experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQA	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.67%	9.00%	-2.33%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	14.43%	-3.15%
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	17.85%	-3.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.59%	22.53%	-3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.59%	22.30%	-3.71%

QQA vs. QQQM - Expense Ratio Comparison

QQA has a 0.29% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

QQA vs. QQQM - Dividend Comparison

QQA's dividend yield for the trailing twelve months is around 9.70%, more than QQQM's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QQA Invesco QQQ Income Advantage ETF	9.70%	9.78%	4.29%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.44%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QQA and QQQM in my portfolio?

With a correlation of 0.97, QQA and QQQM 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 QQQM?

QQQM has higher volatility (9.00%) compared to QQA (6.67%). In terms of maximum drawdown, QQA dropped -19.73% vs QQQM's -35.04%.

Which ETF is better, QQA or QQQM?

On 1-year performance, QQQM leads with 34.99% vs 28.19% for QQA. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQA has been the lower-risk option at 6.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQA or QQQM?

Over the 1-year period, QQQM has performed better with a 34.99% return vs 28.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQA or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.29% for QQA.

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

QQA has the higher dividend yield at 9.70%, compared with 0.44% for QQQM.

What is the main difference between QQA and QQQM?

QQA is categorized as Derivative Income, while QQQM is Nasdaq-100. Their fees differ too: 0.29% for QQA and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQA currently has the higher Sharpe Ratio (2.03 vs 1.97), 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.