QQQ vs. SGLP.L

Last updated Jun 14, 2026

QQQ (Invesco QQQ ETF) and SGLP.L (Invesco Physical Gold A) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SGLP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 12.42%/yr for SGLP.L. At a 0.09 correlation, their price movements are largely independent. QQQ charges 0.18%/yr vs 0.12%/yr for SGLP.L.

Performance

QQQ vs. SGLP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and Invesco Physical Gold A (SGLP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QQQ is traded in USD, while SGLP.L is traded in GBp. To make them comparable, the SGLP.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 SGLP.L's -2.23% return. Over the past 10 years, QQQ has outperformed SGLP.L with an annualized return of 21.79%, while SGLP.L has yielded a comparatively lower 12.42% 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%

SGLP.L

• 1D: 2.69%
• 1M: -9.63%
• YTD: -2.23%
• 6M: -1.73%
• 1Y: 23.21%
• 3Y*: 29.23%
• 5Y*: 17.41%
• 10Y*: 12.42%

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

QQQ vs. SGLP.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%
SGLP.L Invesco Physical Gold A	-2.23%	65.19%	26.00%	12.92%	-0.12%	-3.76%	23.67%	19.25%	-1.60%	11.32%

Correlation

The correlation between QQQ and SGLP.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jun 26, 2009	0.09

The correlation between QQQ and SGLP.L shifts across timeframes, from 0.08 (10 years) to 0.22 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QQQ vs. SGLP.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

SGLP.L

SGLP.L Risk / Return Rank: 32
SGLP.L Sharpe Ratio Rank: 35
SGLP.L Sortino Ratio Rank: 31
SGLP.L Omega Ratio Rank: 38
SGLP.L Calmar Ratio Rank: 27
SGLP.L Martin Ratio Rank: 28

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. SGLP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Invesco Physical Gold A (SGLP.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	SGLP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.09	0.97	+1.13
Sortino ratio: Return per unit of downside risk	2.73	1.36	+1.37
Omega ratio: Gain probability vs. loss probability	1.37	1.19	+0.18
Calmar ratio: Return relative to maximum drawdown	3.01	1.05	+1.96
Martin ratio: Return relative to average drawdown	11.22	3.19	+8.04

QQQ vs. SGLP.L - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is higher than the SGLP.L Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of QQQ and SGLP.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. SGLP.L - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than SGLP.L's maximum drawdown of -66.38%. Use the drawdown chart below to compare losses from any high point for QQQ and SGLP.L.

Drawdown Indicators

	QQQ	SGLP.L	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-66.38%	-16.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-22.75%	+10.79%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-22.75%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-22.75%	-12.37%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-22.75%	-12.37%
Current Drawdown Current decline from peak	-3.33%	-20.68%	+17.35%
Average Drawdown Average peak-to-trough decline	-32.75%	-39.76%	+7.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	7.49%	-4.29%

Volatility

QQQ vs. SGLP.L - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to Invesco Physical Gold A (SGLP.L) at 7.18%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than SGLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	SGLP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	7.18%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	21.60%	-7.79%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	24.75%	-7.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	22.64%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.38%	18.77%	+3.61%

QQQ vs. SGLP.L - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than SGLP.L's 0.12% 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. SGLP.L - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, while SGLP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SGLP.L Invesco Physical Gold A	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQ and SGLP.L in my portfolio?

QQQ and SGLP.L have a correlation of 0.22, 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 SGLP.L?

On fees, SGLP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQ or SGLP.L?

SGLP.L is cheaper with a 0.12% expense ratio, compared with 0.18% for QQQ.

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

QQQ is categorized as Nasdaq-100, while SGLP.L is Precious Metals. QQQ tracks NASDAQ-100 Index, while SGLP.L tracks Gold. Their fees differ too: 0.18% for QQQ and 0.12% for SGLP.L.