QQQ vs. BPTRX

Last updated Jun 14, 2026

QQQ (Invesco QQQ ETF) and BPTRX (Baron Partners Fund) are both funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while BPTRX is a Large Cap Growth Equities fund actively managed by Baron Capital Group, Inc.. QQQ is passively managed, while BPTRX is actively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 24.68%/yr for BPTRX. A 0.65 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 1.36%/yr for BPTRX.

Performance

QQQ vs. BPTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and Baron Partners Fund (BPTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than BPTRX's 3.60% return. Over the past 10 years, QQQ has underperformed BPTRX with an annualized return of 21.79%, while BPTRX has yielded a comparatively higher 24.68% annualized return.

QQQ

• 1D: 0.59%
• 1M: 0.22%
• YTD: 17.57%
• 6M: 17.85%
• 1Y: 37.55%
• 3Y*: 26.43%
• 5Y*: 16.85%
• 10Y*: 21.79%

BPTRX

• 1D: 0.41%
• 1M: 8.22%
• YTD: 3.60%
• 6M: 2.76%
• 1Y: 40.21%
• 3Y*: 21.70%
• 5Y*: 13.22%
• 10Y*: 24.68%

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

QQQ vs. BPTRX - 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%
BPTRX Baron Partners Fund	3.60%	24.54%	32.75%	43.09%	-42.53%	31.35%	148.81%	44.99%	-2.01%	31.54%

Correlation

The correlation between QQQ and BPTRX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999	0.65

The correlation between QQQ and BPTRX shifts across timeframes, from 0.54 (1 year) to 0.74 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

QQQ vs. BPTRX — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 71
QQQ Sharpe Ratio Rank: 75
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 73
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 70

BPTRX

BPTRX Risk / Return Rank: 66
BPTRX Sharpe Ratio Rank: 40
BPTRX Sortino Ratio Rank: 79
BPTRX Omega Ratio Rank: 66
BPTRX Calmar Ratio Rank: 89
BPTRX Martin Ratio Rank: 56

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. BPTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Baron Partners Fund (BPTRX). 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	BPTRX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.43	+0.66
Sortino ratio: Return per unit of downside risk	2.73	3.09	-0.35
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	3.01	3.70	-0.69
Martin ratio: Return relative to average drawdown	11.22	9.05	+2.17

QQQ vs. BPTRX - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is higher than the BPTRX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of QQQ and BPTRX, 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

QQQ vs. BPTRX - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than BPTRX's maximum drawdown of -64.11%. Use the drawdown chart below to compare losses from any high point for QQQ and BPTRX.

Drawdown Indicators

	QQQ	BPTRX	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-64.11%	-18.86%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-10.71%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-33.34%	+10.57%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-49.87%	+14.75%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-51.26%	+16.14%
Current Drawdown Current decline from peak	-3.33%	-1.69%	-1.64%
Average Drawdown Average peak-to-trough decline	-32.75%	-13.77%	-18.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	4.37%	-1.17%

Volatility

QQQ vs. BPTRX - Volatility Comparison

Invesco QQQ ETF (QQQ) and Baron Partners Fund (BPTRX) have volatilities of 7.56% and 7.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	BPTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	7.29%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	13.45%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	27.64%	-10.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	33.72%	-11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	32.75%	-10.37%

QQQ vs. BPTRX - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than BPTRX's 1.36% expense ratio.

Dividends

QQQ vs. BPTRX - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than BPTRX's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPTRX Baron Partners Fund	3.24%	3.36%	0.76%	0.00%	3.19%	7.72%	3.67%	0.26%	0.00%	0.00%	0.00%	0.35%
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

Can I hold both QQQ and BPTRX in my portfolio?

QQQ and BPTRX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQ or BPTRX?

QQQ has higher volatility (7.56%) compared to BPTRX (7.29%). In terms of maximum drawdown, QQQ dropped -82.97% vs BPTRX's -64.11%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.09 vs 1.43), 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.