QQQ vs. ^SP100

Last updated Jun 9, 2026

QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while ^SP100 (S&P 100 Index) is an index. Over the past 10 years, QQQ returned 21.59%/yr vs 14.73%/yr for ^SP100. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

QQQ vs. ^SP100 - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and S&P 100 Index (^SP100). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ achieves a 16.71% return, which is significantly higher than ^SP100's 6.70% return. Over the past 10 years, QQQ has outperformed ^SP100 with an annualized return of 21.59%, while ^SP100 has yielded a comparatively lower 14.73% annualized return.

QQQ

• 1D: 1.56%
• 1M: 0.68%
• YTD: 16.71%
• 6M: 15.00%
• 1Y: 35.78%
• 3Y*: 27.15%
• 5Y*: 16.98%
• 10Y*: 21.59%

^SP100

• 1D: 0.42%
• 1M: -0.48%
• YTD: 6.70%
• 6M: 6.47%
• 1Y: 24.95%
• 3Y*: 22.21%
• 5Y*: 13.84%
• 10Y*: 14.73%

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

QQQ vs. ^SP100 - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	16.71%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%
^SP100 S&P 100 Index	6.70%	18.76%	29.25%	30.83%	-22.12%	27.55%	19.30%	29.47%	-5.86%	19.34%

Correlation

The correlation between QQQ and ^SP100 is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 11, 1999	0.87

The correlation between QQQ and ^SP100 has been stable across timeframes, ranging from 0.87 to 0.96 - a consistent structural relationship.

Return for Risk

QQQ vs. ^SP100 — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 69
QQQ Sharpe Ratio Rank: 74
QQQ Sortino Ratio Rank: 67
QQQ Omega Ratio Rank: 70
QQQ Calmar Ratio Rank: 66
QQQ Martin Ratio Rank: 68

^SP100

^SP100 Risk / Return Rank: 63
^SP100 Sharpe Ratio Rank: 64
^SP100 Sortino Ratio Rank: 65
^SP100 Omega Ratio Rank: 71
^SP100 Calmar Ratio Rank: 52
^SP100 Martin Ratio Rank: 62

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.

QQQ vs. ^SP100 - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and S&P 100 Index (^SP100). 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.

	QQQ	^SP100	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.93	+0.22
Sortino ratio: Return per unit of downside risk	2.77	2.61	+0.17
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	3.00	2.22	+0.79
Martin ratio: Return relative to average drawdown	11.43	9.19	+2.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQ vs. ^SP100 - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.15, which is comparable to the ^SP100 Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of QQQ and ^SP100, 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

	QQQ	^SP100	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.93	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.78	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	0.80	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.55	-0.14

Drawdowns

QQQ vs. ^SP100 - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than ^SP100's maximum drawdown of -61.31%. Use the drawdown chart below to compare losses from any high point for QQQ and ^SP100.

Drawdown Indicators

	QQQ	^SP100	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-61.31%	-21.66%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-11.30%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-19.89%	-2.88%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-27.23%	-7.89%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-31.53%	-3.59%
Current Drawdown Current decline from peak	-4.03%	-3.19%	-0.84%
Average Drawdown Average peak-to-trough decline	-32.77%	-12.66%	-20.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	2.72%	+0.42%

Volatility

QQQ vs. ^SP100 - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 6.84% compared to S&P 100 Index (^SP100) at 4.21%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than ^SP100 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	^SP100	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.84%	4.21%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	10.00%	+3.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	13.00%	+3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.49%	17.80%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	18.50%	+3.86%

Frequently Asked Questions

Can I hold both QQQ and ^SP100 in my portfolio?

With a correlation of 0.94, QQQ and ^SP100 move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQ or ^SP100?

QQQ has higher volatility (6.84%) compared to ^SP100 (4.21%). In terms of maximum drawdown, QQQ dropped -82.97% vs ^SP100's -61.31%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.15 vs 1.93), 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.