PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QQQ vs. TOK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQQ vs. TOK

Last updated Jun 14, 2026

QQQ (Invesco QQQ ETF) and TOK (iShares MSCI Kokusai ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while TOK is a Large Cap Growth Equities fund tracking the MSCI Kokusai Index. Both are passively managed. Over the past 10 years, QQQ returned 21.79%/yr vs 13.63%/yr for TOK. A 0.75 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.25%/yr for TOK.

Performance

QQQ vs. TOK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and iShares MSCI Kokusai ETF (TOK). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, QQQ achieves a 17.57% return, which is significantly higher than TOK's 8.52% return. Over the past 10 years, QQQ has outperformed TOK with an annualized return of 21.79%, while TOK has yielded a comparatively lower 13.63% 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%

TOK

1D
0.34%
1M
-0.22%
YTD
8.52%
6M
9.29%
1Y
24.16%
3Y*
19.82%
5Y*
11.77%
10Y*
13.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQ vs. TOK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%
TOK
iShares MSCI Kokusai ETF		8.52%20.83%19.52%24.76%-17.93%23.84%15.06%30.05%-7.83%22.09%

Correlation

The correlation between QQQ and TOK is 0.90, 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

0.90

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

0.88

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

0.89

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

0.83

Correlation (All Time)
Calculated using the full available price history since Dec 12, 2007

0.75

The correlation between QQQ and TOK shifts across timeframes, from 0.75 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

QQQ vs. TOK - Sectors Allocation Comparison

Sectors
QQQ
TOK

Technology

58.7%
31.4%

Communication Services

14.3%
9.1%

Consumer Cyclical

11.4%
9.1%

Consumer Defensive

6.4%
5.1%

Healthcare

3.7%
8.8%

Industrials

2.6%
10.1%

Utilities

1.2%
2.5%

Basic Materials

1.0%
3.3%

Energy

0.5%
4.0%

Financial Services

0.2%
14.9%

Real Estate

0.1%
1.7%

Technology

QQQ
58.7%
TOK
31.4%

Communication Services

QQQ
14.3%
TOK
9.1%

Consumer Cyclical

QQQ
11.4%
TOK
9.1%

Consumer Defensive

QQQ
6.4%
TOK
5.1%

Healthcare

QQQ
3.7%
TOK
8.8%

Industrials

QQQ
2.6%
TOK
10.1%

Utilities

QQQ
1.2%
TOK
2.5%

Basic Materials

QQQ
1.0%
TOK
3.3%

Energy

QQQ
0.5%
TOK
4.0%

Financial Services

QQQ
0.2%
TOK
14.9%

Real Estate

QQQ
0.1%
TOK
1.7%

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 MSCI Kokusai ETF

Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI
Often compared with TOK:
TOK vs. VOOTOK vs. ACWITOK vs. QQQMTOK vs. SCHDTOK vs. URTHTOK vs. VYMTOK vs. USRT

Return for Risk

QQQ vs. TOK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
Martin Ratio Rank
TOK
TOK Risk / Return Rank: 6363
Overall Rank
TOK Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
TOK Sortino Ratio Rank: 6363
Sortino Ratio Rank
TOK Omega Ratio Rank: 6262
Omega Ratio Rank
TOK Calmar Ratio Rank: 5757
Calmar Ratio Rank
TOK Martin Ratio Rank: 6969
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. TOK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and iShares MSCI Kokusai ETF (TOK). 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.

QQQTOKDifference
Sharpe ratioReturn per unit of total volatility
2.09
1.84

+0.26

Sortino ratioReturn per unit of downside risk
2.73
2.56

+0.17

Omega ratioGain probability vs. loss probability

1.37

1.33

+0.04

Calmar ratioReturn relative to maximum drawdown

3.01

2.51

+0.50

Martin ratioReturn relative to average drawdown

11.22

11.28

-0.06

QQQ vs. TOK - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 2.09, which is comparable to the TOK Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of QQQ and TOK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

QQQ vs. TOK - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than TOK's maximum drawdown of -56.18%. Use the drawdown chart below to compare losses from any high point for QQQ and TOK.

Loading charts...

Drawdown Indicators

QQQTOKDifference

Max Drawdown

Largest peak-to-trough decline

-82.97%

-56.18%

-26.79%

Max Drawdown (1Y)

Largest decline over 1 year

-11.96%

-9.07%

-2.89%

Max Drawdown (3Y)

Largest decline over 3 years

-22.77%

-16.23%

-6.54%

Max Drawdown (5Y)

Largest decline over 5 years

-35.12%

-25.86%

-9.26%

Max Drawdown (10Y)

Largest decline over 10 years

-35.12%

-34.82%

-0.30%

Current Drawdown

Current decline from peak

-3.33%

-1.90%

-1.43%

Average Drawdown

Average peak-to-trough decline

-32.75%

-8.51%

-24.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

2.02%

+1.18%

Volatility

QQQ vs. TOK - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.56% compared to iShares MSCI Kokusai ETF (TOK) at 4.34%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than TOK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

QQQTOKDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.56%

4.34%

+3.22%

Volatility (6M)

Calculated over the trailing 6-month period

13.81%

9.96%

+3.85%

Volatility (1Y)

Calculated over the trailing 1-year period

17.19%

12.40%

+4.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

15.99%

+6.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

17.16%

+5.22%

QQQ vs. TOK - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than TOK's 0.25% 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. TOK - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.39%, less than TOK's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
TOK
iShares MSCI Kokusai ETF		1.27%1.37%1.66%1.95%3.55%1.66%1.52%2.12%2.74%2.60%2.56%3.02%

Frequently Asked Questions

With a correlation of 0.90, QQQ and TOK 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.

QQQ has higher volatility (7.56%) compared to TOK (4.34%). In terms of maximum drawdown, QQQ dropped -82.97% vs TOK's -56.18%.

On 10-year performance, QQQ leads with 21.79% vs 13.63% for TOK. On fees, QQQ is cheaper at 0.18% per year. On volatility, TOK has been the lower-risk option at 4.34%. 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 21.79% return vs 13.63%. 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 0.25% for TOK.

TOK has the higher dividend yield at 1.27%, compared with 0.39% for QQQ.

QQQ is categorized as Nasdaq-100, while TOK is Large Cap Growth Equities. QQQ tracks NASDAQ-100 Index, while TOK tracks MSCI Kokusai Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.18% for QQQ and 0.25% for TOK.

QQQ currently has the higher Sharpe Ratio (2.09 vs 1.84), 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.

Portfolio Optimizer

Find the right allocation for QQQ and TOK

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer