QQEW vs. QQQE
Compare and contrast key facts about First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE).
QQEW and QQQE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQEW is a passively managed fund by First Trust that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Apr 19, 2006. QQQE is a passively managed fund by Direxion that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Mar 21, 2012. Both QQEW and QQQE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QQEW or QQQE.
Key characteristics
| QQEW | QQQE | |
|---|---|---|
| YTD Return | 6.64% | 6.64% |
| 1Y Return | 20.89% | 21.06% |
| 3Y Return (Ann) | 1.87% | 2.02% |
| 5Y Return (Ann) | 12.87% | 13.08% |
| 10Y Return (Ann) | 12.29% | 12.56% |
| Sharpe Ratio | 1.73 | 1.74 |
| Sortino Ratio | 2.43 | 2.42 |
| Omega Ratio | 1.30 | 1.30 |
| Calmar Ratio | 1.76 | 1.81 |
| Martin Ratio | 8.60 | 8.63 |
| Ulcer Index | 2.97% | 2.98% |
| Daily Std Dev | 14.76% | 14.76% |
| Max Drawdown | -58.16% | -32.14% |
| Current Drawdown | -3.15% | -3.08% |
Correlation
The correlation between QQEW and QQQE is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QQEW vs. QQQE - Performance Comparison
As of year-to-date, both investments have demonstrated similar returns, with QQEW at 6.64% and QQQE at 6.64%. Both investments have delivered pretty close results over the past 10 years, with QQEW having a 12.29% annualized return and QQQE not far ahead at 12.56%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QQEW vs. QQQE - Expense Ratio Comparison
QQEW has a 0.58% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Risk-Adjusted Performance
QQEW vs. QQQE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.
Dividends
QQEW vs. QQQE - Dividend Comparison
QQEW's dividend yield for the trailing twelve months is around 0.72%, less than QQQE's 0.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund | 0.72% | 0.70% | 0.66% | 0.24% | 0.34% | 0.48% | 0.56% | 0.48% | 0.73% | 0.61% | 1.05% | 0.46% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.87% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.75% | 1.36% | 0.38% |
Drawdowns
QQEW vs. QQQE - Drawdown Comparison
The maximum QQEW drawdown since its inception was -58.16%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for QQEW and QQQE. For additional features, visit the drawdowns tool.
Volatility
QQEW vs. QQQE - Volatility Comparison
First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) have volatilities of 3.88% and 3.87%, 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.