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QQQ vs. IYT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. IYT

Last updated Jun 24, 2026

QQQ (Invesco QQQ ETF) and IYT (iShares Transportation Average ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while IYT is a Transportation Equities fund tracking the Dow Jones Transportation Average Index. Both are passively managed. Over the past 10 years, QQQ returned 22.07%/yr vs 11.13%/yr for IYT. A 0.66 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.42%/yr for IYT.

Performance

QQQ vs. IYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and iShares Transportation Average ETF (IYT). 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 16.45% return, which is significantly higher than IYT's 13.27% return. Over the past 10 years, QQQ has outperformed IYT with an annualized return of 22.07%, while IYT has yielded a comparatively lower 11.13% annualized return.

QQQ

1D
-3.29%
1M
-0.43%
YTD
16.45%
6M
14.99%
1Y
34.88%
3Y*
26.05%
5Y*
16.01%
10Y*
22.07%

IYT

1D
-0.78%
1M
3.24%
YTD
13.27%
6M
12.06%
1Y
27.89%
3Y*
13.54%
5Y*
6.34%
10Y*
11.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. IYT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQ
Invesco QQQ ETF		16.45%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%
IYT
iShares Transportation Average ETF		13.27%11.48%4.10%24.62%-21.74%26.41%14.20%20.11%-12.87%18.89%

Correlation

The correlation between QQQ and IYT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.46

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

0.51

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

0.61

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

0.57

Correlation (All Time)
Calculated using the full available price history since Oct 10, 2003

0.66

The correlation between QQQ and IYT shifts across timeframes, from 0.46 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

QQQ vs. IYT - Sectors Allocation Comparison

Sectors
QQQ
IYT

Technology

58.7%
15.6%

Communication Services

14.3%

-

Consumer Cyclical

11.4%

-

Consumer Defensive

6.4%

-

Healthcare

3.7%

-

Industrials

2.6%
84.4%

Utilities

1.2%

-

Basic Materials

1.0%

-

Energy

0.5%

-

Financial Services

0.2%

-

Real Estate

0.1%

-

Technology

QQQ
58.7%
IYT
15.6%

Communication Services

QQQ
14.3%
IYT

-

Consumer Cyclical

QQQ
11.4%
IYT

-

Consumer Defensive

QQQ
6.4%
IYT

-

Healthcare

QQQ
3.7%
IYT

-

Industrials

QQQ
2.6%
IYT
84.4%

Utilities

QQQ
1.2%
IYT

-

Basic Materials

QQQ
1.0%
IYT

-

Energy

QQQ
0.5%
IYT

-

Financial Services

QQQ
0.2%
IYT

-

Real Estate

QQQ
0.1%
IYT

-

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 Transportation Average ETF

Often compared with QQQ:
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Often compared with IYT:
IYT vs. XTNIYT vs. SPYIYT vs. FTXRIYT vs. XLIIYT vs. UNPIYT vs. WBAIYT vs. FIDU

Return for Risk

QQQ vs. IYT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 5959
Overall Rank
QQQ Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 5555
Sortino Ratio Rank
QQQ Omega Ratio Rank: 5858
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQ Martin Ratio Rank: 6262
Martin Ratio Rank
IYT
IYT Risk / Return Rank: 4343
Overall Rank
IYT Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
IYT Sortino Ratio Rank: 4040
Sortino Ratio Rank
IYT Omega Ratio Rank: 3838
Omega Ratio Rank
IYT Calmar Ratio Rank: 5050
Calmar Ratio Rank
IYT Martin Ratio Rank: 4747
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. IYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and iShares Transportation Average ETF (IYT). 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.

QQQIYTDifference
Sharpe ratioReturn per unit of total volatility
1.95
1.36

+0.59

Sortino ratioReturn per unit of downside risk
2.57
1.95

+0.62

Omega ratioGain probability vs. loss probability

1.35

1.24

+0.10

Calmar ratioReturn relative to maximum drawdown

2.93

2.32

+0.61

Martin ratioReturn relative to average drawdown

10.86

7.51

+3.36

QQQ vs. IYT - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 1.95, which is higher than the IYT Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of QQQ and IYT, 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. IYT - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than IYT's maximum drawdown of -60.39%. Use the drawdown chart below to compare losses from any high point for QQQ and IYT.

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Drawdown Indicators

QQQIYTDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-60.39%

-22.58%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-12.09%

+0.13%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-26.35%

+3.58%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-29.15%

-5.97%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

-41.28%

+6.16%

Current Drawdown

Current decline from peak

-4.25%

-2.97%

-1.28%

Average Drawdown

Average peak-to-trough decline

-32.73%

-9.30%

-23.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.22%

3.72%

-0.50%

Volatility

QQQ vs. IYT - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 9.17% compared to iShares Transportation Average ETF (IYT) at 7.09%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than IYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQQIYTDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.17%

7.09%

+2.08%

Volatility (6M)

Calculated over the trailing 6-month period

14.57%

16.27%

-1.70%

Volatility (1Y)

Calculated over the trailing 1-year period

17.96%

20.70%

-2.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.69%

22.40%

+0.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.42%

23.16%

-0.74%

QQQ vs. IYT - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than IYT's 0.42% expense ratio.

Dividends

QQQ vs. IYT - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.43%, less than IYT's 0.93% yield.

PositionTTM20252024202320222021202020192018201720162015
IYT
iShares Transportation Average ETF		0.93%1.00%1.08%1.26%1.40%0.77%0.93%1.29%1.35%0.92%0.96%1.28%
QQQ
Invesco QQQ ETF		0.43%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 IYT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (9.17%) compared to IYT (7.09%). In terms of maximum drawdown, QQQ dropped -82.97% vs IYT's -60.39%.

On 10-year performance, QQQ leads with 22.07% vs 11.13% for IYT. On fees, QQQ is cheaper at 0.18% per year. On volatility, IYT has been the lower-risk option at 7.09%. 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 22.07% return vs 11.13%. 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 0.42% for IYT.

IYT has the higher dividend yield at 0.93%, compared with 0.43% for QQQ.

QQQ is categorized as Nasdaq-100, while IYT is Transportation Equities. QQQ tracks NASDAQ-100 Index, while IYT tracks Dow Jones Transportation Average Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for QQQ and 0.42% for IYT.

QQQ currently has the higher Sharpe Ratio (1.95 vs 1.36), 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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