QQQ vs. FGQD.L

Last updated Jun 16, 2026

QQQ (Invesco QQQ ETF) and FGQD.L (Fidelity Global Quality Income ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while FGQD.L is a Global Equities fund tracking the Fidelity Global Quality Income index. Both are passively managed. Over the past 5 years, QQQ returned 17.59%/yr vs 10.91%/yr for FGQD.L. A 0.51 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.40%/yr for FGQD.L.

Performance

QQQ vs. FGQD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and Fidelity Global Quality Income ETF (FGQD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QQQ is traded in USD, while FGQD.L is traded in GBp. To make them comparable, the FGQD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QQQ achieves a 21.26% return, which is significantly higher than FGQD.L's 10.39% return.

QQQ

• 1D: 3.14%
• 1M: 4.95%
• YTD: 21.26%
• 6M: 22.17%
• 1Y: 41.87%
• 3Y*: 27.20%
• 5Y*: 17.59%
• 10Y*: 22.31%

FGQD.L

• 1D: 1.06%
• 1M: 3.43%
• YTD: 10.39%
• 6M: 11.19%
• 1Y: 26.09%
• 3Y*: 16.86%
• 5Y*: 10.91%
• 10Y*: —

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

QQQ vs. FGQD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	21.26%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	20.08%
FGQD.L Fidelity Global Quality Income ETF	10.39%	20.61%	11.33%	17.39%	-10.91%	22.66%	9.68%	28.80%	-7.79%	-7.56%

Correlation

The correlation between QQQ and FGQD.L is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 27, 2017	0.51

The correlation between QQQ and FGQD.L has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.

QQQ vs. FGQD.L - Sectors Allocation Comparison

Sectors	QQQ	FGQD.L
Technology	58.7%	30.0%
Communication Services	14.3%	8.2%
Consumer Cyclical	11.4%	8.7%
Consumer Defensive	6.4%	4.7%
Healthcare	3.7%	9.0%
Industrials	2.6%	11.9%
Utilities	1.2%	2.5%
Basic Materials	1.0%	2.9%
Energy	0.5%	4.0%
Financial Services	0.2%	16.2%
Real Estate	0.1%	1.9%

Return for Risk

QQQ vs. FGQD.L — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 79
QQQ Sharpe Ratio Rank: 84
QQQ Sortino Ratio Rank: 79
QQQ Omega Ratio Rank: 81
QQQ Calmar Ratio Rank: 76
QQQ Martin Ratio Rank: 76

FGQD.L

FGQD.L Risk / Return Rank: 88
FGQD.L Sharpe Ratio Rank: 91
FGQD.L Sortino Ratio Rank: 91
FGQD.L Omega Ratio Rank: 90
FGQD.L Calmar Ratio Rank: 79
FGQD.L Martin Ratio Rank: 87

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. FGQD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Fidelity Global Quality Income ETF (FGQD.L). 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	FGQD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.32	+0.10
Sortino ratio: Return per unit of downside risk	3.12	3.45	-0.33
Omega ratio: Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio: Return relative to maximum drawdown	3.52	2.87	+0.64
Martin ratio: Return relative to average drawdown	13.12	12.99	+0.13

QQQ vs. FGQD.L - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.42, which is comparable to the FGQD.L Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of QQQ and FGQD.L, 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. FGQD.L - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than FGQD.L's maximum drawdown of -34.58%. Use the drawdown chart below to compare losses from any high point for QQQ and FGQD.L.

Drawdown Indicators

	QQQ	FGQD.L	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-34.58%	-48.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-9.04%	-2.92%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-15.59%	-7.18%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-22.77%	-12.35%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	—	—
Current Drawdown Current decline from peak	-0.29%	0.00%	-0.29%
Average Drawdown Average peak-to-trough decline	-32.75%	-5.63%	-27.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.00%	+1.20%

Volatility

QQQ vs. FGQD.L - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 8.14% compared to Fidelity Global Quality Income ETF (FGQD.L) at 3.51%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than FGQD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	FGQD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.14%	3.51%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	8.89%	+5.23%
Volatility (1Y) Calculated over the trailing 1-year period	17.43%	11.24%	+6.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.59%	14.30%	+8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	16.78%	+5.63%

QQQ vs. FGQD.L - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than FGQD.L's 0.40% expense ratio.

Dividends

QQQ vs. FGQD.L - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.38%, less than FGQD.L's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGQD.L Fidelity Global Quality Income ETF	1.80%	1.86%	2.31%	2.78%	2.70%	2.46%	2.60%	2.44%	2.70%	1.10%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	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 FGQD.L in my portfolio?

QQQ and FGQD.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQ or FGQD.L?

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQ or FGQD.L?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.40% for FGQD.L.

What is the main difference between QQQ and FGQD.L?

QQQ is categorized as Nasdaq-100, while FGQD.L is Global Equities. QQQ tracks NASDAQ-100 Index, while FGQD.L tracks Fidelity Global Quality Income index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.18% for QQQ and 0.40% for FGQD.L.