QQHG vs. VAMO

Last updated Aug 4, 2026

QQHG (Invesco QQQ Hedged Advantage ETF) and VAMO (Cambria Value and Momentum ETF) are both exchange-traded funds - QQHG is a Equity Hedged fund actively managed by Invesco, while VAMO is a Momentum fund actively managed by Cambria. Both are actively managed. Over the past year, QQHG returned 19.25% vs 21.77% for VAMO. Their 0.33 correlation means their historical movements had little consistent relationship. QQHG charges 0.45%/yr vs 0.65%/yr for VAMO.

Performance

QQHG vs. VAMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Hedged Advantage ETF (QQHG) and Cambria Value and Momentum ETF (VAMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQHG achieves a 8.92% return, which is significantly higher than VAMO's 7.74% return.

QQHG

• 1D: 0.85%
• 1M: -0.33%
• 6M: 7.62%
• YTD: 8.92%
• 1Y: 19.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.59%

VAMO

• 1D: 0.19%
• 1M: 2.82%
• 6M: 4.01%
• YTD: 7.74%
• 1Y: 21.77%
• 3Y*: 12.58%
• 5Y*: 11.32%
• 10Y*: 5.95%
• ALL TIME*: 4.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQHG Invesco QQQ Hedged Advantage ETF	$45.08K	$107.17K	$66.44K
VAMO Cambria Value and Momentum ETF	$125.64K	$95.59K	$952.19K

QQHG vs. VAMO - Yearly Performance Comparison

	2026 (YTD)	2025
QQHG Invesco QQQ Hedged Advantage ETF	8.92%	20.59%
VAMO Cambria Value and Momentum ETF	7.74%	16.41%

Correlation

The correlation between QQHG and VAMO is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (All Time) Calculated using the full available price history since May 7, 2025	0.33

Return for Risk

QQHG vs. VAMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQHG

QQHG Risk / Return Rank: 76
QQHG Sharpe Ratio Rank: 76
QQHG Sortino Ratio Rank: 75
QQHG Omega Ratio Rank: 72
QQHG Calmar Ratio Rank: 82
QQHG Martin Ratio Rank: 77

VAMO

VAMO Risk / Return Rank: 84
VAMO Sharpe Ratio Rank: 82
VAMO Sortino Ratio Rank: 85
VAMO Omega Ratio Rank: 80
VAMO Calmar Ratio Rank: 90
VAMO Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQHG vs. VAMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Hedged Advantage ETF (QQHG) and Cambria Value and Momentum ETF (VAMO). 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	VAMO	Difference
Sharpe ratio: Return per unit of total volatility	1.80	2.00	-0.20
Sortino ratio: Return per unit of downside risk	2.54	2.93	-0.39
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	3.13	3.94	-0.81
Martin ratio: Return relative to average drawdown	10.27	11.32	-1.04

QQHG vs. VAMO - Sharpe Ratio Comparison

The current QQHG Sharpe Ratio is 1.80, which is comparable to the VAMO Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of QQHG and VAMO, 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. VAMO - Drawdown Comparison

The maximum QQHG drawdown since its inception was -6.18%, smaller than the maximum VAMO drawdown of -41.84%. Use the drawdown chart below to compare losses from any high point for QQHG and VAMO.

Drawdown Indicators

	QQHG	VAMO	Difference
Max Drawdown Largest peak-to-trough decline	-6.18%	-41.84%	+35.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-5.55%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.84%	—
Current Drawdown Current decline from peak	-2.50%	-0.40%	-2.10%
Average Drawdown Average peak-to-trough decline	-1.15%	-9.84%	+8.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.93%	-0.05%

Volatility

QQHG vs. VAMO - Volatility Comparison

Invesco QQQ Hedged Advantage ETF (QQHG) has a higher volatility of 3.61% compared to Cambria Value and Momentum ETF (VAMO) at 2.04%. This indicates that QQHG's price experiences larger fluctuations and is considered to be riskier than VAMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQHG	VAMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	2.04%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	8.37%	7.22%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	10.97%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.35%	16.74%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.35%	18.10%	-7.75%

QQHG vs. VAMO - Expense Ratio Comparison

QQHG has a 0.45% expense ratio, which is lower than VAMO's 0.65% expense ratio.

Dividends

QQHG vs. VAMO - Dividend Comparison

QQHG's dividend yield for the trailing twelve months is around 0.26%, less than VAMO's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VAMO Cambria Value and Momentum ETF	0.60%	1.41%	0.84%	1.35%	1.10%	1.07%	1.03%	1.15%	1.03%	0.35%	0.56%	0.20%

Frequently Asked Questions

Can I hold both QQHG and VAMO in my portfolio?

QQHG and VAMO have a correlation of 0.29, 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 VAMO?

QQHG has higher volatility (3.61%) compared to VAMO (2.04%). In terms of maximum drawdown, QQHG dropped -6.18% vs VAMO's -41.84%.

Which ETF is better, QQHG or VAMO?

On 1-year performance, VAMO leads with 21.77% vs 19.25% for QQHG. On fees, QQHG is cheaper at 0.45% per year. On volatility, VAMO has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQHG or VAMO?

Over the 1-year period, VAMO has performed better with a 21.77% return vs 19.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQHG or VAMO?

QQHG is cheaper with a 0.45% expense ratio, compared with 0.65% for VAMO.

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

VAMO has the higher dividend yield at 0.60%, compared with 0.26% for QQHG.

What is the main difference between QQHG and VAMO?

QQHG is categorized as Equity Hedged, while VAMO is Momentum. They also come from different issuers: Invesco and Cambria. Their fees differ too: 0.45% for QQHG and 0.65% for VAMO.

Which has better risk-adjusted returns?

VAMO currently has the higher Sharpe Ratio (2.00 vs 1.80), 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.