QQH vs. IAI

Last updated Jun 13, 2026

QQH (HCM Defender 100 Index ETF) and IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) are both exchange-traded funds - QQH is a Technology Equities fund tracking the HCM Defender 100 Index, while IAI is a Financials Equities fund tracking the DJ US Select / Investment Services. Both are passively managed. Over the past 5 years, QQH returned 13.32%/yr vs 14.44%/yr for IAI. A 0.52 correlation means they provide meaningful diversification when combined. QQH charges 1.14%/yr vs 0.41%/yr for IAI.

Performance

QQH vs. IAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HCM Defender 100 Index ETF (QQH) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQH achieves a 8.65% return, which is significantly higher than IAI's 3.17% return.

QQH

• 1D: 0.72%
• 1M: -0.74%
• YTD: 8.65%
• 6M: 8.98%
• 1Y: 30.75%
• 3Y*: 22.44%
• 5Y*: 13.32%
• 10Y*: —

IAI

• 1D: 1.83%
• 1M: 3.22%
• YTD: 3.17%
• 6M: 2.78%
• 1Y: 19.26%
• 3Y*: 28.06%
• 5Y*: 14.44%
• 10Y*: 19.37%

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

QQH vs. IAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
QQH HCM Defender 100 Index ETF	8.65%	15.66%	33.64%	48.05%	-39.60%	37.52%	41.71%	15.09%
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	3.17%	25.80%	34.37%	15.27%	-10.87%	40.48%	18.61%	12.17%

Correlation

The correlation between QQH and IAI is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019	0.52

The correlation between QQH and IAI has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.

QQH vs. IAI - Sectors Allocation Comparison

Sectors	QQH	IAI
Technology	56.6%	0.1%
Communication Services	14.9%	-
Consumer Cyclical	13.6%	-
Consumer Defensive	6.3%	-
Healthcare	3.5%	-
Industrials	2.2%	-
Utilities	1.2%	-
Basic Materials	1.0%	-
Energy	0.5%	-
Financial Services	0.2%	99.9%
Real Estate	0.0%	-

Return for Risk

QQH vs. IAI — Risk / Return Rank

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

QQH

QQH Risk / Return Rank: 42
QQH Sharpe Ratio Rank: 45
QQH Sortino Ratio Rank: 40
QQH Omega Ratio Rank: 43
QQH Calmar Ratio Rank: 43
QQH Martin Ratio Rank: 37

IAI

IAI Risk / Return Rank: 29
IAI Sharpe Ratio Rank: 31
IAI Sortino Ratio Rank: 30
IAI Omega Ratio Rank: 29
IAI Calmar Ratio Rank: 27
IAI Martin Ratio Rank: 27

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.

QQH vs. IAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HCM Defender 100 Index ETF (QQH) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). 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.

	QQH	IAI	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.00	+0.40
Sortino ratio: Return per unit of downside risk	1.84	1.43	+0.42
Omega ratio: Gain probability vs. loss probability	1.24	1.18	+0.07
Calmar ratio: Return relative to maximum drawdown	1.91	1.17	+0.74
Martin ratio: Return relative to average drawdown	5.10	3.33	+1.77

QQH vs. IAI - Sharpe Ratio Comparison

The current QQH Sharpe Ratio is 1.39, which is higher than the IAI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of QQH and IAI, 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

QQH vs. IAI - Drawdown Comparison

The maximum QQH drawdown since its inception was -41.87%, smaller than the maximum IAI drawdown of -75.46%. Use the drawdown chart below to compare losses from any high point for QQH and IAI.

Drawdown Indicators

	QQH	IAI	Difference
Max Drawdown Largest peak-to-trough decline	-41.87%	-75.46%	+33.59%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	-16.52%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-24.84%	-23.14%	-1.70%
Max Drawdown (5Y) Largest decline over 5 years	-41.87%	-28.84%	-13.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.38%	—
Current Drawdown Current decline from peak	-5.87%	-2.81%	-3.06%
Average Drawdown Average peak-to-trough decline	-12.90%	-22.63%	+9.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.04%	5.80%	+0.24%

Volatility

QQH vs. IAI - Volatility Comparison

HCM Defender 100 Index ETF (QQH) has a higher volatility of 9.85% compared to iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) at 5.98%. This indicates that QQH's price experiences larger fluctuations and is considered to be riskier than IAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQH	IAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.85%	5.98%	+3.87%
Volatility (6M) Calculated over the trailing 6-month period	16.84%	15.34%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	19.44%	+2.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.81%	21.48%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.89%	22.85%	+2.04%

QQH vs. IAI - Expense Ratio Comparison

QQH has a 1.14% expense ratio, which is higher than IAI's 0.41% expense ratio.

Dividends

QQH vs. IAI - Dividend Comparison

QQH's dividend yield for the trailing twelve months is around 0.19%, less than IAI's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	1.05%	0.95%	1.05%	1.80%	2.14%	1.31%	1.55%	1.52%	1.58%	1.37%	1.49%	1.31%
QQH HCM Defender 100 Index ETF	0.19%	0.21%	0.24%	0.27%	0.00%	0.00%	0.00%	0.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQH and IAI in my portfolio?

QQH and IAI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQH or IAI?

QQH has higher volatility (9.85%) compared to IAI (5.98%). In terms of maximum drawdown, QQH dropped -41.87% vs IAI's -75.46%.

Which ETF is better, QQH or IAI?

On 5-year performance, IAI leads with 14.44% vs 13.32% for QQH. On fees, IAI is cheaper at 0.41% per year. On volatility, IAI has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQH or IAI?

Over the 5-year period, IAI has performed better with a 14.44% return vs 13.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQH or IAI?

IAI is cheaper with a 0.41% expense ratio, compared with 1.14% for QQH.

Which ETF pays a higher dividend yield, QQH or IAI?

IAI has the higher dividend yield at 1.05%, compared with 0.19% for QQH.

What is the main difference between QQH and IAI?

QQH is categorized as Technology Equities, while IAI is Financials Equities. QQH tracks HCM Defender 100 Index, while IAI tracks DJ US Select / Investment Services. They also come from different issuers: Howard Capital Management and iShares. Their fees differ too: 1.14% for QQH and 0.41% for IAI.

Which has better risk-adjusted returns?

QQH currently has the higher Sharpe Ratio (1.39 vs 1.00), 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.