QQQ vs. QNDX

Last updated Aug 6, 2026

QQQ (Invesco QQQ ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds - QQQ tracks the NASDAQ-100 Index while QNDX tracks the Nasdaq-100 Index. Both are passively managed. Their 1.00 correlation means they have historically moved very closely together. QQQ charges 0.18%/yr vs 0.10%/yr for QNDX.

Performance

QQQ vs. QNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and SPDR Portfolio Nasdaq 100 ETF (QNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QQQ

• 1D: -0.90%
• 1M: -0.76%
• 6M: 18.69%
• YTD: 17.04%
• 1Y: 28.64%
• 3Y*: 25.18%
• 5Y*: 14.96%
• 10Y*: 20.75%
• ALL TIME*: 10.80%

QNDX

• 1D: -0.86%
• 1M: -0.69%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QNDX SPDR Portfolio Nasdaq 100 ETF	$14.09M	$14.07M	$12.53M
QQQ Invesco QQQ ETF	$34.07B	$28.96B	$31.85B

QQQ vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QQQ Invesco QQQ ETF	0.51%
QNDX SPDR Portfolio Nasdaq 100 ETF	0.41%

Correlation

The correlation between QQQ and QNDX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	1.00

Return for Risk

QQQ vs. QNDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQ

QQQ Risk / Return Rank: 54
QQQ Sharpe Ratio Rank: 52
QQQ Sortino Ratio Rank: 50
QQQ Omega Ratio Rank: 49
QQQ Calmar Ratio Rank: 60
QQQ Martin Ratio Rank: 56

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQ vs. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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	QNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	—	—
Sortino ratio: Return per unit of downside risk	2.05	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.40	—	—
Martin ratio: Return relative to average drawdown	7.62	—	—

Drawdowns

QQQ vs. QNDX - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than QNDX's maximum drawdown of -10.10%. Use the drawdown chart below to compare losses from any high point for QQQ and QNDX.

Drawdown Indicators

	QQQ	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-10.10%	-72.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	—	—
Current Drawdown Current decline from peak	-3.76%	-2.57%	-1.19%
Average Drawdown Average peak-to-trough decline	-32.61%	-3.71%	-28.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	—	—

Volatility

Volatility by Period

	QQQ	QNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.56%	24.98%	-5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.97%	24.98%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.53%	24.98%	-2.45%

QQQ vs. QNDX - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than QNDX's 0.10% 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. QNDX - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.42%, while QNDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.42%	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 QNDX in my portfolio?

With a correlation of 1.00, QQQ and QNDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QQQ or QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQ or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.18% for QQQ.

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

QQQ has the higher dividend yield at 0.42%, compared with 0.00% for QNDX.

What is the main difference between QQQ and QNDX?

QQQ tracks NASDAQ-100 Index, while QNDX tracks Nasdaq-100 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.18% for QQQ and 0.10% for QNDX.