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QQQ vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. EWY

Last updated Jun 13, 2026

QQQ (Invesco QQQ ETF) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 16.84%/yr for EWY. A 0.57 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.59%/yr for EWY.

Performance

QQQ vs. EWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and iShares MSCI South Korea ETF (EWY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QQQ achieves a 17.57% return, which is significantly lower than EWY's 103.10% return. Over the past 10 years, QQQ has outperformed EWY with an annualized return of 21.79%, while EWY has yielded a comparatively lower 16.84% annualized 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%

EWY

1D
-0.75%
1M
4.68%
YTD
103.10%
6M
117.85%
1Y
198.25%
3Y*
46.46%
5Y*
18.80%
10Y*
16.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. EWY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%
EWY
iShares MSCI South Korea ETF		103.10%95.33%-20.48%19.05%-26.59%-7.58%39.43%7.97%-20.37%44.97%

Correlation

The correlation between QQQ and EWY is 0.68, 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

0.68

Correlation (3Y)
Calculated over the trailing 3-year period

0.61

Correlation (5Y)
Calculated over the trailing 5-year period

0.60

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since May 12, 2000

0.57

The correlation between QQQ and EWY shifts across timeframes, from 0.57 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

QQQ vs. EWY - Sectors Allocation Comparison

Sectors
QQQ
EWY

Technology

53.8%
52.4%

Communication Services

15.8%
2.9%

Consumer Cyclical

12.3%
5.7%

Consumer Defensive

7.7%
1.7%

Healthcare

4.2%
3.5%

Industrials

2.8%
20.4%

Utilities

1.4%
0.4%

Basic Materials

1.1%
2.0%

Energy

0.6%
1.4%

Financial Services

0.2%
9.6%

Real Estate

0.1%

-

Technology

QQQ
53.8%
EWY
52.4%

Communication Services

QQQ
15.8%
EWY
2.9%

Consumer Cyclical

QQQ
12.3%
EWY
5.7%

Consumer Defensive

QQQ
7.7%
EWY
1.7%

Healthcare

QQQ
4.2%
EWY
3.5%

Industrials

QQQ
2.8%
EWY
20.4%

Utilities

QQQ
1.4%
EWY
0.4%

Basic Materials

QQQ
1.1%
EWY
2.0%

Energy

QQQ
0.6%
EWY
1.4%

Financial Services

QQQ
0.2%
EWY
9.6%

Real Estate

QQQ
0.1%
EWY

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco QQQ ETF

iShares MSCI South Korea ETF

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI
Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. EWTEWY vs. EWHEWY vs. FXI

Return for Risk

QQQ vs. EWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
Martin Ratio Rank
EWY
EWY Risk / Return Rank: 9595
Overall Rank
EWY Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 9393
Sortino Ratio Rank
EWY Omega Ratio Rank: 9494
Omega Ratio Rank
EWY Calmar Ratio Rank: 9797
Calmar Ratio Rank
EWY Martin Ratio Rank: 9696
Martin Ratio Rank
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. EWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and iShares MSCI South Korea ETF (EWY). 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.

QQQEWYDifference
Sharpe ratioReturn per unit of total volatility
2.09
4.29

-2.20

Sortino ratioReturn per unit of downside risk
2.73
4.08

-1.35

Omega ratioGain probability vs. loss probability

1.37

1.59

-0.22

Calmar ratioReturn relative to maximum drawdown

3.01

8.65

-5.64

Martin ratioReturn relative to average drawdown

11.22

30.24

-19.01

QQQ vs. EWY - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is lower than the EWY Sharpe Ratio of 4.29. The chart below compares the historical Sharpe Ratios of QQQ and EWY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

QQQ vs. EWY - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than EWY's maximum drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for QQQ and EWY.

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Drawdown Indicators

QQQEWYDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-74.14%

-8.83%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-23.08%

+11.12%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-27.36%

+4.59%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-48.55%

+13.43%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

-49.73%

+14.61%

Current Drawdown

Current decline from peak

-3.33%

-8.88%

+5.55%

Average Drawdown

Average peak-to-trough decline

-32.75%

-20.11%

-12.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

6.59%

-3.39%

Volatility

QQQ vs. EWY - Volatility Comparison

The current volatility for Invesco QQQ ETF (QQQ) is 7.56%, while iShares MSCI South Korea ETF (EWY) has a volatility of 25.64%. This indicates that QQQ experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQQEWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.56%

25.64%

-18.08%

Volatility (6M)

Calculated over the trailing 6-month period

13.81%

42.65%

-28.84%

Volatility (1Y)

Calculated over the trailing 1-year period

17.19%

46.51%

-29.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

30.15%

-7.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

28.06%

-5.68%

QQQ vs. EWY - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than EWY's 0.59% expense ratio.

Dividends

QQQ vs. EWY - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than EWY's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
EWY
iShares MSCI South Korea ETF		1.03%2.10%2.55%2.52%1.23%2.16%0.73%2.10%1.34%2.90%1.21%2.42%
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 EWY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWY has higher volatility (25.64%) compared to QQQ (7.56%). In terms of maximum drawdown, QQQ dropped -82.97% vs EWY's -74.14%.

On 10-year performance, QQQ leads with 21.79% vs 16.84% for EWY. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 7.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQ has performed better with a 21.79% return vs 16.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.59% for EWY.

EWY has the higher dividend yield at 1.03%, compared with 0.39% for QQQ.

QQQ is categorized as Nasdaq-100, while EWY is Asia Pacific Equities. QQQ tracks NASDAQ-100 Index, while EWY tracks MSCI Korea Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for QQQ and 0.59% for EWY.

EWY currently has the higher Sharpe Ratio (4.29 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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