QQEW vs. VADDX

Last updated Jun 14, 2026

QQEW (First Trust Nasdaq-100 Equal Weighted Index Fund) and VADDX (Invesco Equally-Weighted S&P 500 Fund) are both funds - QQEW is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while VADDX is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, QQEW returned 14.46%/yr vs 11.78%/yr for VADDX. Their correlation of 0.86 suggests significant overlap in exposure. QQEW charges 0.58%/yr vs 0.27%/yr for VADDX.

Performance

QQEW vs. VADDX - 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 Equally-Weighted S&P 500 Fund (VADDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQEW achieves a 8.24% return, which is significantly lower than VADDX's 9.97% return. Over the past 10 years, QQEW has outperformed VADDX with an annualized return of 14.46%, while VADDX has yielded a comparatively lower 11.78% annualized return.

QQEW

• 1D: 0.68%
• 1M: 6.00%
• YTD: 8.24%
• 6M: 7.47%
• 1Y: 17.03%
• 3Y*: 13.79%
• 5Y*: 7.69%
• 10Y*: 14.46%

VADDX

• 1D: 1.61%
• 1M: 3.01%
• YTD: 9.97%
• 6M: 9.33%
• 1Y: 20.22%
• 3Y*: 14.61%
• 5Y*: 8.29%
• 10Y*: 11.78%

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

QQEW vs. VADDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	8.24%	14.22%	7.00%	33.31%	-24.59%	17.75%	37.30%	35.87%	-5.30%	26.04%
VADDX Invesco Equally-Weighted S&P 500 Fund	9.97%	11.16%	12.68%	13.58%	-11.86%	29.27%	12.56%	28.92%	-7.96%	18.55%

Correlation

The correlation between QQEW and VADDX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 2, 2006	0.86

The correlation between QQEW and VADDX shifts across timeframes, from 0.71 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

QQEW vs. VADDX — Risk / Return Rank

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

QQEW

QQEW Risk / Return Rank: 26
QQEW Sharpe Ratio Rank: 27
QQEW Sortino Ratio Rank: 26
QQEW Omega Ratio Rank: 26
QQEW Calmar Ratio Rank: 24
QQEW Martin Ratio Rank: 25

VADDX

VADDX Risk / Return Rank: 52
VADDX Sharpe Ratio Rank: 48
VADDX Sortino Ratio Rank: 50
VADDX Omega Ratio Rank: 44
VADDX Calmar Ratio Rank: 60
VADDX Martin Ratio Rank: 56

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. VADDX - 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 Equally-Weighted S&P 500 Fund (VADDX). 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	VADDX	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.61	-0.75
Sortino ratio: Return per unit of downside risk	1.29	2.35	-1.06
Omega ratio: Gain probability vs. loss probability	1.16	1.28	-0.12
Calmar ratio: Return relative to maximum drawdown	0.97	2.44	-1.46
Martin ratio: Return relative to average drawdown	2.93	9.20	-6.27

QQEW vs. VADDX - Sharpe Ratio Comparison

The current QQEW Sharpe Ratio is 0.87, which is lower than the VADDX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of QQEW and VADDX, 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. VADDX - Drawdown Comparison

The maximum QQEW drawdown since its inception was -58.16%, roughly equal to the maximum VADDX drawdown of -60.12%. Use the drawdown chart below to compare losses from any high point for QQEW and VADDX.

Drawdown Indicators

	QQEW	VADDX	Difference
Max Drawdown Largest peak-to-trough decline	-58.16%	-60.12%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-15.74%	-7.88%	-7.86%
Max Drawdown (3Y) Largest decline over 3 years	-21.43%	-17.86%	-3.57%
Max Drawdown (5Y) Largest decline over 5 years	-32.12%	-21.58%	-10.54%
Max Drawdown (10Y) Largest decline over 10 years	-32.12%	-39.39%	+7.27%
Current Drawdown Current decline from peak	-4.97%	-0.46%	-4.51%
Average Drawdown Average peak-to-trough decline	-8.29%	-6.99%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.22%	2.08%	+3.14%

Volatility

QQEW vs. VADDX - Volatility Comparison

First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) has a higher volatility of 8.08% compared to Invesco Equally-Weighted S&P 500 Fund (VADDX) at 3.61%. This indicates that QQEW's price experiences larger fluctuations and is considered to be riskier than VADDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQEW	VADDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.08%	3.61%	+4.47%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	8.74%	+6.11%
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	11.90%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	16.31%	+4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.93%	18.55%	+2.38%

QQEW vs. VADDX - Expense Ratio Comparison

QQEW has a 0.58% expense ratio, which is higher than VADDX's 0.27% expense ratio.

Dividends

QQEW vs. VADDX - Dividend Comparison

QQEW's dividend yield for the trailing twelve months is around 0.29%, less than VADDX's 9.17% 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%
VADDX Invesco Equally-Weighted S&P 500 Fund	9.17%	10.09%	8.88%	4.86%	8.45%	9.92%	6.38%	4.68%	7.13%	2.97%	0.30%	2.98%

Frequently Asked Questions

Can I hold both QQEW and VADDX in my portfolio?

QQEW and VADDX have a correlation of 0.71, 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 VADDX?

QQEW has higher volatility (8.08%) compared to VADDX (3.61%). In terms of maximum drawdown, QQEW dropped -58.16% vs VADDX's -60.12%.

Which has better risk-adjusted returns?

VADDX currently has the higher Sharpe Ratio (1.61 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.