QQQ vs. MGV

Last updated Jun 23, 2026

QQQ (Invesco QQQ ETF) and MGV (Vanguard Mega Cap Value ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index. Both are passively managed. Over the past 10 years, QQQ returned 22.48%/yr vs 13.43%/yr for MGV. A 0.70 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.05%/yr for MGV.

Performance

QQQ vs. MGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and Vanguard Mega Cap Value ETF (MGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ achieves a 20.41% return, which is significantly higher than MGV's 16.85% return. Over the past 10 years, QQQ has outperformed MGV with an annualized return of 22.48%, while MGV has yielded a comparatively lower 13.43% annualized return.

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

MGV

• 1D: 1.09%
• 1M: 4.51%
• YTD: 16.85%
• 6M: 16.55%
• 1Y: 30.47%
• 3Y*: 19.86%
• 5Y*: 13.34%
• 10Y*: 13.43%

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

QQQ vs. MGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%
MGV Vanguard Mega Cap Value ETF	16.85%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%

Correlation

The correlation between QQQ and MGV is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.70

Over the past year, the correlation between QQQ and MGV has dropped to 0.47 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

QQQ vs. MGV - Sectors Allocation Comparison

Sectors	QQQ	MGV
Technology	58.7%	18.5%
Communication Services	14.3%	3.2%
Consumer Cyclical	11.4%	3.4%
Consumer Defensive	6.4%	11.0%
Healthcare	3.7%	16.0%
Industrials	2.6%	13.2%
Utilities	1.2%	2.3%
Basic Materials	1.0%	2.3%
Energy	0.5%	6.0%
Financial Services	0.2%	22.8%
Real Estate	0.1%	1.2%

Return for Risk

QQQ vs. MGV — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

MGV

MGV Risk / Return Rank: 90
MGV Sharpe Ratio Rank: 92
MGV Sortino Ratio Rank: 92
MGV Omega Ratio Rank: 89
MGV Calmar Ratio Rank: 87
MGV Martin Ratio Rank: 88

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. MGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Vanguard Mega Cap Value ETF (MGV). 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	MGV	Difference
Sharpe ratio: Return per unit of total volatility	2.33	3.02	-0.69
Sortino ratio: Return per unit of downside risk	3.03	4.27	-1.25
Omega ratio: Gain probability vs. loss probability	1.41	1.54	-0.14
Calmar ratio: Return relative to maximum drawdown	3.44	4.77	-1.34
Martin ratio: Return relative to average drawdown	12.79	18.12	-5.33

QQQ vs. MGV - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.33, which is comparable to the MGV Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of QQQ and MGV, 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. MGV - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than MGV's maximum drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for QQQ and MGV.

Drawdown Indicators

	QQQ	MGV	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-56.07%	-26.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-6.42%	-5.54%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-13.18%	-9.59%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-16.54%	-18.58%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-35.41%	+0.29%
Current Drawdown Current decline from peak	-0.99%	0.00%	-0.99%
Average Drawdown Average peak-to-trough decline	-32.73%	-7.78%	-24.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	1.69%	+1.52%

Volatility

QQQ vs. MGV - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 8.47% compared to Vanguard Mega Cap Value ETF (MGV) at 3.32%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	MGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	3.32%	+5.15%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	7.77%	+6.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	10.15%	+7.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.64%	13.57%	+9.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.43%	16.36%	+6.07%

QQQ vs. MGV - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than MGV's 0.05% 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. MGV - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.49%, less than MGV's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGV Vanguard Mega Cap Value ETF	1.82%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%
QQQ Invesco QQQ ETF	0.49%	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 MGV in my portfolio?

QQQ and MGV have a correlation of 0.47, 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 MGV?

QQQ has higher volatility (8.47%) compared to MGV (3.32%). In terms of maximum drawdown, QQQ dropped -82.97% vs MGV's -56.07%.

Which ETF is better, QQQ or MGV?

On 10-year performance, QQQ leads with 22.48% vs 13.43% for MGV. On fees, MGV is cheaper at 0.05% per year. On volatility, MGV has been the lower-risk option at 3.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or MGV?

Over the 10-year period, QQQ has performed better with a 22.48% return vs 13.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or MGV?

MGV is cheaper with a 0.05% expense ratio, compared with 0.18% for QQQ.

Which ETF pays a higher dividend yield, QQQ or MGV?

MGV has the higher dividend yield at 1.82%, compared with 0.49% for QQQ.

What is the main difference between QQQ and MGV?

QQQ is categorized as Nasdaq-100, while MGV is Large Cap Value Equities. QQQ tracks NASDAQ-100 Index, while MGV tracks CRSP US Mega Cap Value Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.18% for QQQ and 0.05% for MGV.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (3.02 vs 2.33), 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.