QQMG vs. SMH

Last updated Jun 5, 2026

QQMG (Invesco ESG NASDAQ 100 ETF) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - QQMG is a Nasdaq-100 fund tracking the Nasdaq-100 ESG Total Return Index, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Over the past 3 years, QQMG returned 29.47%/yr vs 63.96%/yr for SMH. Their correlation of 0.89 suggests significant overlap in exposure. QQMG charges 0.20%/yr vs 0.35%/yr for SMH.

Performance

QQMG vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco ESG NASDAQ 100 ETF (QQMG) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQMG achieves a 21.45% return, which is significantly lower than SMH's 74.25% return.

QQMG

• 1D: -0.34%
• 1M: 9.97%
• YTD: 21.45%
• 6M: 20.28%
• 1Y: 43.12%
• 3Y*: 29.47%
• 5Y*: —
• 10Y*: —

SMH

• 1D: -1.63%
• 1M: 20.06%
• YTD: 74.25%
• 6M: 74.08%
• 1Y: 150.04%
• 3Y*: 63.96%
• 5Y*: 38.76%
• 10Y*: 37.49%

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

QQMG vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QQMG Invesco ESG NASDAQ 100 ETF	21.45%	22.16%	25.66%	55.00%	-31.56%	5.01%
SMH VanEck Semiconductor ETF	74.25%	49.17%	39.10%	73.38%	-33.53%	13.77%

Correlation

The correlation between QQMG and SMH is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 29, 2021	0.89

The correlation between QQMG and SMH has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

QQMG vs. SMH - Sectors Allocation Comparison

Sectors	QQMG	SMH
Technology	62.1%	100.0%
Communication Services	13.0%	-
Consumer Cyclical	11.5%	-
Consumer Defensive	6.0%	-
Healthcare	3.5%	-
Industrials	2.1%	-
Basic Materials	1.4%	-
Utilities	0.2%	-
Financial Services	0.2%	-
Real Estate	0.1%	-
Energy	-	-

Return for Risk

QQMG vs. SMH — Risk / Return Rank

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

QQMG

QQMG Risk / Return Rank: 74
QQMG Sharpe Ratio Rank: 81
QQMG Sortino Ratio Rank: 76
QQMG Omega Ratio Rank: 74
QQMG Calmar Ratio Rank: 69
QQMG Martin Ratio Rank: 69

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 95
SMH Omega Ratio Rank: 94
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

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.

QQMG vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco ESG NASDAQ 100 ETF (QQMG) and VanEck Semiconductor ETF (SMH). 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.

	QQMG	SMH	Difference
Sharpe ratio: Return per unit of total volatility	2.58	4.94	-2.36
Sortino ratio: Return per unit of downside risk	3.35	5.05	-1.70
Omega ratio: Gain probability vs. loss probability	1.43	1.69	-0.26
Calmar ratio: Return relative to maximum drawdown	3.42	10.11	-6.69
Martin ratio: Return relative to average drawdown	12.72	38.76	-26.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQMG vs. SMH - Sharpe Ratio Comparison

The current QQMG Sharpe Ratio is 2.58, which is lower than the SMH Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of QQMG and SMH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQMG	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	4.94	-2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.34	+0.40

Drawdowns

QQMG vs. SMH - Drawdown Comparison

The maximum QQMG drawdown since its inception was -35.43%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for QQMG and SMH.

Drawdown Indicators

	QQMG	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-84.96%	+49.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.67%	-14.93%	+2.26%
Max Drawdown (3Y) Largest decline over 3 years	-22.79%	-35.74%	+12.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-0.75%	-1.63%	+0.88%
Average Drawdown Average peak-to-trough decline	-9.60%	-41.08%	+31.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	3.89%	-0.49%

Volatility

QQMG vs. SMH - Volatility Comparison

The current volatility for Invesco ESG NASDAQ 100 ETF (QQMG) is 4.80%, while VanEck Semiconductor ETF (SMH) has a volatility of 11.58%. This indicates that QQMG experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQMG	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	11.58%	-6.78%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	24.35%	-11.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	30.57%	-13.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.59%	35.01%	-11.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	32.57%	-8.98%

QQMG vs. SMH - Expense Ratio Comparison

QQMG has a 0.20% expense ratio, which is lower than SMH's 0.35% expense ratio.

Dividends

QQMG vs. SMH - Dividend Comparison

QQMG's dividend yield for the trailing twelve months is around 0.34%, more than SMH's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQMG Invesco ESG NASDAQ 100 ETF	0.34%	0.41%	0.50%	0.60%	0.82%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.18%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

Frequently Asked Questions

Can I hold both QQMG and SMH in my portfolio?

QQMG and SMH have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQMG or SMH?

SMH has higher volatility (11.58%) compared to QQMG (4.80%). In terms of maximum drawdown, QQMG dropped -35.43% vs SMH's -84.96%.

Which ETF is better, QQMG or SMH?

On 3-year performance, SMH leads with 63.96% vs 29.47% for QQMG. On fees, QQMG is cheaper at 0.20% per year. On volatility, QQMG has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQMG or SMH?

Over the 3-year period, SMH has performed better with a 63.96% return vs 29.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQMG or SMH?

QQMG is cheaper with a 0.20% expense ratio, compared with 0.35% for SMH.

Which ETF pays a higher dividend yield, QQMG or SMH?

QQMG has the higher dividend yield at 0.34%, compared with 0.18% for SMH.

What is the main difference between QQMG and SMH?

QQMG is categorized as Nasdaq-100, while SMH is Semiconductors. QQMG tracks Nasdaq-100 ESG Total Return Index, while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.20% for QQMG and 0.35% for SMH.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.94 vs 2.58), 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.