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QQQ vs. QNXT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. QNXT

Last updated Jun 4, 2026

QQQ (Invesco QQQ ETF) and QNXT (iShares Nasdaq-100 ex Top 30 ETF) are both Nasdaq-100 funds - QQQ tracks the NASDAQ-100 Index while QNXT tracks the Nasdaq-100 ex Top 30 UCITS Index. Both are passively managed. Over the past year, QQQ returned 41.82% vs 25.34% for QNXT. Their correlation of 0.84 suggests significant overlap in exposure. QQQ charges 0.18%/yr vs 0.20%/yr for QNXT.

Performance

QQQ vs. QNXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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 21.30% return, which is significantly higher than QNXT's 15.67% return.

QQQ

1D
-0.26%
1M
10.60%
YTD
21.30%
6M
19.66%
1Y
41.82%
3Y*
28.78%
5Y*
17.97%
10Y*
21.94%

QNXT

1D
-0.61%
1M
9.65%
YTD
15.67%
6M
13.13%
1Y
25.34%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. QNXT - Yearly Performance Comparison

2026 (YTD)20252024
QQQ
Invesco QQQ ETF		21.30%20.77%4.01%
QNXT
iShares Nasdaq-100 ex Top 30 ETF		15.67%14.97%-2.52%

Correlation

The correlation between QQQ and QNXT is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.81

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2024

0.84

The correlation between QQQ and QNXT has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

QQQ vs. QNXT - Sectors Allocation Comparison

Sectors
QQQ
QNXT

Technology

53.8%
40.3%

Communication Services

15.8%
8.8%

Consumer Cyclical

12.3%
17.0%

Consumer Defensive

7.7%
5.7%

Healthcare

4.2%
7.5%

Industrials

2.8%
10.6%

Utilities

1.4%
6.1%

Basic Materials

1.1%

-

Energy

0.6%
2.7%

Financial Services

0.2%
1.0%

Real Estate

0.1%
0.3%

Technology

QQQ
53.8%
QNXT
40.3%

Communication Services

QQQ
15.8%
QNXT
8.8%

Consumer Cyclical

QQQ
12.3%
QNXT
17.0%

Consumer Defensive

QQQ
7.7%
QNXT
5.7%

Healthcare

QQQ
4.2%
QNXT
7.5%

Industrials

QQQ
2.8%
QNXT
10.6%

Utilities

QQQ
1.4%
QNXT
6.1%

Basic Materials

QQQ
1.1%
QNXT

-

Energy

QQQ
0.6%
QNXT
2.7%

Financial Services

QQQ
0.2%
QNXT
1.0%

Real Estate

QQQ
0.1%
QNXT
0.3%

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 Nasdaq-100 ex Top 30 ETF

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI
Often compared with QNXT:
QNXT vs. QQQMQNXT vs. QTOPQNXT vs. GLDQNXT vs. OUSAQNXT vs. GARPQNXT vs. VTQNXT vs. FTCS

Return for Risk

QQQ vs. QNXT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7575
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7474
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
Martin Ratio Rank
QNXT
QNXT Risk / Return Rank: 4949
Overall Rank
QNXT Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
QNXT Sortino Ratio Rank: 4949
Sortino Ratio Rank
QNXT Omega Ratio Rank: 4747
Omega Ratio Rank
QNXT Calmar Ratio Rank: 5252
Calmar Ratio Rank
QNXT Martin Ratio Rank: 4949
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. QNXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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.

QQQQNXTDifference
Sharpe ratioReturn per unit of total volatility
2.64
1.70

+0.94

Sortino ratioReturn per unit of downside risk
3.45
2.37

+1.08

Omega ratioGain probability vs. loss probability

1.45

1.29

+0.16

Calmar ratioReturn relative to maximum drawdown

3.51

2.50

+1.01

Martin ratioReturn relative to average drawdown

13.49

8.17

+5.32

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQ vs. QNXT - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.64, which is higher than the QNXT Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of QQQ and QNXT, 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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Sharpe Ratios by Period

QQQQNXTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.64

1.70

+0.94

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.99

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.90

-0.49

Drawdowns

QQQ vs. QNXT - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than QNXT's maximum drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for QQQ and QNXT.

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Drawdown Indicators

QQQQNXTDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-22.25%

-60.72%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-10.16%

-1.80%

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

-0.26%

-0.61%

+0.35%

Average Drawdown

Average peak-to-trough decline

-32.79%

-3.79%

-29.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

3.11%

0.00%

Volatility

QQQ vs. QNXT - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 4.49% compared to iShares Nasdaq-100 ex Top 30 ETF (QNXT) at 3.52%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than QNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQQQNXTDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.49%

3.52%

+0.97%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

10.92%

+1.18%

Volatility (1Y)

Calculated over the trailing 1-year period

15.94%

15.05%

+0.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.38%

19.73%

+2.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.29%

19.73%

+2.56%

QQQ vs. QNXT - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than QNXT's 0.20% expense ratio. Despite the difference, 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. QNXT - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.38%, less than QNXT's 0.60% yield.

PositionTTM20252024202320222021202020192018201720162015
QNXT
iShares Nasdaq-100 ex Top 30 ETF		0.60%0.64%0.22%0.00%0.00%0.00%0.00%0.00%0.00%0.00%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

QQQ and QNXT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (4.49%) compared to QNXT (3.52%). In terms of maximum drawdown, QQQ dropped -82.97% vs QNXT's -22.25%.

On 1-year performance, QQQ leads with 41.82% vs 25.34% for QNXT. On fees, QQQ is cheaper at 0.18% per year. On volatility, QNXT has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, QQQ has performed better with a 41.82% return vs 25.34%. 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 0.20% for QNXT.

QNXT has the higher dividend yield at 0.60%, compared with 0.38% for QQQ.

QQQ tracks NASDAQ-100 Index, while QNXT tracks Nasdaq-100 ex Top 30 UCITS Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for QQQ and 0.20% for QNXT.

QQQ currently has the higher Sharpe Ratio (2.64 vs 1.70), 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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