QQQ vs. GLTL.L

Last updated Jun 14, 2026

QQQ (Invesco QQQ ETF) and GLTL.L (SPDR Bloomberg 15+ Year Gilt UCITS ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while GLTL.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 10 years, QQQ returned 21.79%/yr vs -4.28%/yr for GLTL.L. At a 0.06 correlation, their price movements are largely independent. QQQ charges 0.18%/yr vs 0.15%/yr for GLTL.L.

Performance

QQQ vs. GLTL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QQQ is traded in USD, while GLTL.L is traded in GBP. To make them comparable, the GLTL.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 17.57% return, which is significantly higher than GLTL.L's -3.16% return. Over the past 10 years, QQQ has outperformed GLTL.L with an annualized return of 21.79%, while GLTL.L has yielded a comparatively lower -4.28% 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%

GLTL.L

• 1D: 0.60%
• 1M: 5.66%
• YTD: -3.16%
• 6M: -1.57%
• 1Y: -1.33%
• 3Y*: 1.99%
• 5Y*: -11.91%
• 10Y*: -4.28%

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

QQQ vs. GLTL.L - 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%
GLTL.L SPDR Bloomberg 15+ Year Gilt UCITS ETF	-3.16%	10.93%	-11.96%	6.60%	-47.01%	-7.42%	17.09%	16.02%	-5.45%	13.15%

Correlation

The correlation between QQQ and GLTL.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since May 17, 2012	0.06

Over the past year, QQQ and GLTL.L have become more correlated (0.30) than their long-term average of 0.06, meaning their price movements have been converging.

Return for Risk

QQQ vs. GLTL.L — 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

GLTL.L

GLTL.L Risk / Return Rank: 8
GLTL.L Sharpe Ratio Rank: 9
GLTL.L Sortino Ratio Rank: 8
GLTL.L Omega Ratio Rank: 8
GLTL.L Calmar Ratio Rank: 9
GLTL.L Martin Ratio Rank: 9

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. GLTL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.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	GLTL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.09	-0.15	+2.25
Sortino ratio: Return per unit of downside risk	2.73	-0.10	+2.84
Omega ratio: Gain probability vs. loss probability	1.37	0.99	+0.38
Calmar ratio: Return relative to maximum drawdown	3.01	-0.20	+3.21
Martin ratio: Return relative to average drawdown	11.22	-0.47	+11.69

QQQ vs. GLTL.L - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is higher than the GLTL.L Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of QQQ and GLTL.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. GLTL.L - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than GLTL.L's maximum drawdown of -63.35%. Use the drawdown chart below to compare losses from any high point for QQQ and GLTL.L.

Drawdown Indicators

	QQQ	GLTL.L	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-63.35%	-19.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-11.93%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-20.98%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-62.68%	+27.56%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-63.35%	+28.23%
Current Drawdown Current decline from peak	-3.33%	-50.64%	+47.31%
Average Drawdown Average peak-to-trough decline	-32.75%	-19.35%	-13.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	5.16%	-1.96%

Volatility

QQQ vs. GLTL.L - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to SPDR Bloomberg 15+ Year Gilt UCITS ETF (GLTL.L) at 5.42%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than GLTL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	GLTL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	5.42%	+2.14%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	11.76%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	15.78%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	22.61%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	19.38%	+3.00%

QQQ vs. GLTL.L - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than GLTL.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QQQ vs. GLTL.L - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than GLTL.L's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLTL.L SPDR Bloomberg 15+ Year Gilt UCITS ETF	5.08%	4.77%	4.39%	2.97%	1.63%	0.87%	1.01%	1.43%	1.55%	1.86%	1.99%	2.51%
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 GLTL.L in my portfolio?

QQQ and GLTL.L have a correlation of 0.30, 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 GLTL.L?

On fees, GLTL.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQ or GLTL.L?

GLTL.L is cheaper with a 0.15% expense ratio, compared with 0.18% for QQQ.

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

QQQ is categorized as Nasdaq-100, while GLTL.L is European Government Bonds. QQQ tracks NASDAQ-100 Index, while GLTL.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.18% for QQQ and 0.15% for GLTL.L.