QQQ vs. AA
QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while AA (Alcoa Corporation) is a stock. Over the past 5 years, QQQ returned 16.85%/yr vs 14.08%/yr for AA. At a 0.38 correlation, their price movements are largely independent.
Performance
QQQ vs. AA - Performance Comparison
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Returns By Period
In the year-to-date period, QQQ achieves a 17.57% return, which is significantly lower than AA's 29.83% return.
QQQ
- 1D
- 0.59%
- 1M
- 0.93%
- YTD
- 17.57%
- 6M
- 17.85%
- 1Y
- 35.82%
- 3Y*
- 26.43%
- 5Y*
- 16.85%
- 10Y*
- 21.79%
AA
- 1D
- -0.30%
- 1M
- 0.64%
- YTD
- 29.83%
- 6M
- 49.53%
- 1Y
- 140.52%
- 3Y*
- 24.73%
- 5Y*
- 14.08%
- 10Y*
- —
QQQ vs. AA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 17.57% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
AA Alcoa Corporation | 29.83% | 42.46% | 12.43% | -24.33% | -23.12% | 159.05% | 7.16% | -19.07% | -50.66% | 91.84% |
Correlation
The correlation between QQQ and AA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2016 | 0.38 |
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Return for Risk
QQQ vs. AA — Risk / Return Rank
QQQ
AA
QQQ vs. AA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Alcoa Corporation (AA). 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.
| QQQ | AA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 6.49 | -3.49 |
| Martin ratioReturn relative to average drawdown | 11.22 | 20.55 | -9.33 |
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Drawdowns
QQQ vs. AA - Drawdown Comparison
The maximum QQQ drawdown since its inception was -82.97%, smaller than the maximum AA drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for QQQ and AA.
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Drawdown Indicators
| QQQ | AA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.97% | -90.90% | +7.93% |
Max Drawdown (1Y)Largest decline over 1 year | -11.96% | -21.77% | +9.81% |
Max Drawdown (3Y)Largest decline over 3 years | -22.77% | -52.25% | +29.48% |
Max Drawdown (5Y)Largest decline over 5 years | -35.12% | -75.46% | +40.34% |
Max Drawdown (10Y)Largest decline over 10 years | -35.12% | — | — |
Current DrawdownCurrent decline from peak | -3.33% | -24.27% | +20.94% |
Average DrawdownAverage peak-to-trough decline | -32.75% | -46.12% | +13.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 6.87% | -3.67% |
Volatility
QQQ vs. AA - Volatility Comparison
The current volatility for Invesco QQQ ETF (QQQ) is 7.56%, while Alcoa Corporation (AA) has a volatility of 21.35%. This indicates that QQQ experiences smaller price fluctuations and is considered to be less risky than AA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQ | AA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 21.35% | -13.79% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 41.11% | -27.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 54.44% | -37.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 56.26% | -33.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.38% | 55.66% | -33.28% |
Dividends
QQQ vs. AA - Dividend Comparison
QQQ's dividend yield for the trailing twelve months is around 0.39%, less than AA's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | 0.58% | 0.75% | 1.06% | 1.18% | 0.88% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.32% | 0.00% |
QQQ Invesco QQQ ETF | 0.39% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
QQQ and AA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AA has higher volatility (21.35%) compared to QQQ (7.56%). In terms of maximum drawdown, QQQ dropped -82.97% vs AA's -90.90%.
AA currently has the higher Sharpe Ratio (2.60 vs 2.09), 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.
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