QQHG vs. AOR

Last updated Jun 25, 2026

QQHG (Invesco QQQ Hedged Advantage ETF) and AOR (iShares Core 60/40 Balanced Allocation ETF) are both exchange-traded funds - QQHG is a Equity Hedged fund actively managed by Invesco, while AOR is a Diversified Portfolio fund tracking the S&P Target Risk Growth Index. QQHG is actively managed, while AOR is passively managed. Over the past year, QQHG returned 22.34% vs 16.24% for AOR. Their correlation of 0.83 suggests significant overlap in exposure. QQHG charges 0.45%/yr vs 0.15%/yr for AOR.

Performance

QQHG vs. AOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Hedged Advantage ETF (QQHG) and iShares Core 60/40 Balanced Allocation ETF (AOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQHG achieves a 8.81% return, which is significantly higher than AOR's 6.43% return.

QQHG

• 1D: -0.23%
• 1M: -0.12%
• YTD: 8.81%
• 6M: 7.73%
• 1Y: 22.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AOR

• 1D: 0.12%
• 1M: 0.10%
• YTD: 6.43%
• 6M: 5.78%
• 1Y: 16.24%
• 3Y*: 13.63%
• 5Y*: 6.73%
• 10Y*: 8.56%

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

QQHG vs. AOR - Yearly Performance Comparison

	2026 (YTD)	2025
QQHG Invesco QQQ Hedged Advantage ETF	8.81%	20.59%
AOR iShares Core 60/40 Balanced Allocation ETF	6.43%	14.64%

Correlation

The correlation between QQHG and AOR 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 (All Time) Calculated using the full available price history since May 7, 2025	0.83

The correlation between QQHG and AOR has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

QQHG vs. AOR — Risk / Return Rank

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

QQHG

QQHG Risk / Return Rank: 78
QQHG Sharpe Ratio Rank: 79
QQHG Sortino Ratio Rank: 77
QQHG Omega Ratio Rank: 78
QQHG Calmar Ratio Rank: 79
QQHG Martin Ratio Rank: 79

AOR

AOR Risk / Return Rank: 61
AOR Sharpe Ratio Rank: 61
AOR Sortino Ratio Rank: 63
AOR Omega Ratio Rank: 63
AOR Calmar Ratio Rank: 56
AOR Martin Ratio Rank: 64

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.

QQHG vs. AOR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Hedged Advantage ETF (QQHG) and iShares Core 60/40 Balanced Allocation ETF (AOR). 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.

	QQHG	AOR	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.83	+0.39
Sortino ratio: Return per unit of downside risk	3.05	2.60	+0.45
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	3.63	2.46	+1.17
Martin ratio: Return relative to average drawdown	13.63	10.51	+3.12

QQHG vs. AOR - Sharpe Ratio Comparison

The current QQHG Sharpe Ratio is 2.22, which is comparable to the AOR Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of QQHG and AOR, 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

QQHG vs. AOR - Drawdown Comparison

The maximum QQHG drawdown since its inception was -6.18%, smaller than the maximum AOR drawdown of -24.44%. Use the drawdown chart below to compare losses from any high point for QQHG and AOR.

Drawdown Indicators

	QQHG	AOR	Difference
Max Drawdown Largest peak-to-trough decline	-6.18%	-24.44%	+18.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-6.64%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.95%	—
Current Drawdown Current decline from peak	-2.60%	-1.42%	-1.18%
Average Drawdown Average peak-to-trough decline	-1.02%	-3.47%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.55%	+0.09%

Volatility

QQHG vs. AOR - Volatility Comparison

Invesco QQQ Hedged Advantage ETF (QQHG) has a higher volatility of 4.47% compared to iShares Core 60/40 Balanced Allocation ETF (AOR) at 3.61%. This indicates that QQHG's price experiences larger fluctuations and is considered to be riskier than AOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQHG	AOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	3.61%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	7.48%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	8.95%	+1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.10%	10.64%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.10%	10.66%	-0.56%

QQHG vs. AOR - Expense Ratio Comparison

QQHG has a 0.45% expense ratio, which is higher than AOR's 0.15% expense ratio.

Dividends

QQHG vs. AOR - Dividend Comparison

QQHG's dividend yield for the trailing twelve months is around 0.26%, less than AOR's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOR iShares Core 60/40 Balanced Allocation ETF	2.49%	2.55%	2.66%	2.50%	2.12%	1.64%	1.89%	2.56%	2.49%	4.51%	2.16%	2.12%
QQHG Invesco QQQ Hedged Advantage ETF	0.26%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQHG and AOR in my portfolio?

QQHG and AOR 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, QQHG or AOR?

QQHG has higher volatility (4.47%) compared to AOR (3.61%). In terms of maximum drawdown, QQHG dropped -6.18% vs AOR's -24.44%.

Which ETF is better, QQHG or AOR?

On 1-year performance, QQHG leads with 22.34% vs 16.24% for AOR. On fees, AOR is cheaper at 0.15% per year. On volatility, AOR has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQHG or AOR?

Over the 1-year period, QQHG has performed better with a 22.34% return vs 16.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQHG or AOR?

AOR is cheaper with a 0.15% expense ratio, compared with 0.45% for QQHG.

Which ETF pays a higher dividend yield, QQHG or AOR?

AOR has the higher dividend yield at 2.49%, compared with 0.26% for QQHG.

What is the main difference between QQHG and AOR?

QQHG is categorized as Equity Hedged, while AOR is Diversified Portfolio. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.45% for QQHG and 0.15% for AOR.

Which has better risk-adjusted returns?

QQHG currently has the higher Sharpe Ratio (2.22 vs 1.83), 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.