QQEW vs. QQQ

Last updated Jun 24, 2026

QQEW (First Trust Nasdaq-100 Equal Weighted Index Fund) and QQQ (Invesco QQQ ETF) are both Nasdaq-100 funds - QQEW tracks the NASDAQ-100 Equal Weighted Index while QQQ tracks the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, QQEW returned 14.69%/yr vs 22.07%/yr for QQQ. Their correlation of 0.92 suggests significant overlap in exposure. QQEW charges 0.58%/yr vs 0.18%/yr for QQQ.

Performance

QQEW vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQEW achieves a 7.64% return, which is significantly lower than QQQ's 16.45% return. Over the past 10 years, QQEW has underperformed QQQ with an annualized return of 14.69%, while QQQ has yielded a comparatively higher 22.07% annualized return.

QQEW

• 1D: -2.19%
• 1M: 1.60%
• YTD: 7.64%
• 6M: 6.22%
• 1Y: 15.59%
• 3Y*: 14.33%
• 5Y*: 7.24%
• 10Y*: 14.69%

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

QQEW vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	7.64%	14.22%	7.00%	33.31%	-24.59%	17.75%	37.30%	35.87%	-5.30%	26.04%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between QQEW and QQQ is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 2, 2006	0.92

The correlation between QQEW and QQQ has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

QQEW vs. QQQ - Sectors Allocation Comparison

Sectors	QQEW	QQQ
Technology	61.7%	58.7%
Healthcare	13.2%	3.7%
Consumer Cyclical	10.3%	11.4%
Communication Services	9.7%	14.3%
Industrials	3.0%	2.6%
Consumer Defensive	2.0%	6.4%
Real Estate	1.6%	0.1%
Basic Materials	-	1.0%
Energy	-	0.5%
Financial Services	-	0.2%
Utilities	-	1.2%

Return for Risk

QQEW vs. QQQ — Risk / Return Rank

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

QQEW

QQEW Risk / Return Rank: 24
QQEW Sharpe Ratio Rank: 25
QQEW Sortino Ratio Rank: 24
QQEW Omega Ratio Rank: 24
QQEW Calmar Ratio Rank: 22
QQEW Martin Ratio Rank: 24

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ 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.

QQEW vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Invesco QQQ ETF (QQQ). 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.

	QQEW	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.95	-1.08
Sortino ratio: Return per unit of downside risk	1.30	2.57	-1.26
Omega ratio: Gain probability vs. loss probability	1.16	1.35	-0.19
Calmar ratio: Return relative to maximum drawdown	1.00	2.93	-1.93
Martin ratio: Return relative to average drawdown	2.98	10.86	-7.89

QQEW vs. QQQ - Sharpe Ratio Comparison

The current QQEW Sharpe Ratio is 0.87, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QQEW and QQQ, 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

QQEW vs. QQQ - Drawdown Comparison

The maximum QQEW drawdown since its inception was -58.16%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for QQEW and QQQ.

Drawdown Indicators

	QQEW	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.16%	-82.97%	+24.81%
Max Drawdown (1Y) Largest decline over 1 year	-15.74%	-11.96%	-3.78%
Max Drawdown (3Y) Largest decline over 3 years	-21.43%	-22.77%	+1.34%
Max Drawdown (5Y) Largest decline over 5 years	-32.12%	-35.12%	+3.00%
Max Drawdown (10Y) Largest decline over 10 years	-32.12%	-35.12%	+3.00%
Current Drawdown Current decline from peak	-5.49%	-4.25%	-1.24%
Average Drawdown Average peak-to-trough decline	-8.29%	-32.73%	+24.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.25%	3.22%	+2.03%

Volatility

QQEW vs. QQQ - Volatility Comparison

First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Invesco QQQ ETF (QQQ) have volatilities of 8.88% and 9.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQEW	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.88%	9.17%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	15.30%	14.57%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.00%	17.96%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.96%	22.69%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	22.42%	-1.50%

QQEW vs. QQQ - Expense Ratio Comparison

QQEW has a 0.58% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

QQEW vs. QQQ - Dividend Comparison

QQEW's dividend yield for the trailing twelve months is around 0.29%, less than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	0.29%	0.41%	0.57%	0.70%	0.66%	0.24%	0.34%	0.48%	0.56%	0.48%	0.73%	0.61%
QQQ Invesco QQQ ETF	0.43%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both QQEW and QQQ in my portfolio?

QQEW and QQQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQEW or QQQ?

QQQ has higher volatility (9.17%) compared to QQEW (8.88%). In terms of maximum drawdown, QQEW dropped -58.16% vs QQQ's -82.97%.

Which ETF is better, QQEW or QQQ?

On 10-year performance, QQQ leads with 22.07% vs 14.69% for QQEW. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQEW has been the lower-risk option at 8.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQEW or QQQ?

Over the 10-year period, QQQ has performed better with a 22.07% return vs 14.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQEW or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.58% for QQEW.

Which ETF pays a higher dividend yield, QQEW or QQQ?

QQQ has the higher dividend yield at 0.43%, compared with 0.29% for QQEW.

What is the main difference between QQEW and QQQ?

QQEW tracks NASDAQ-100 Equal Weighted Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.58% for QQEW and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.95 vs 0.87), 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.