QQQ vs. XMMO

Last updated Jul 21, 2026

QQQ (Invesco QQQ ETF) and XMMO (Invesco S&P MidCap Momentum ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index. Both are passively managed. Over the past 10 years, QQQ returned 20.72%/yr vs 18.35%/yr for XMMO. A 0.78 correlation means they provide meaningful diversification when combined. QQQ charges 0.18%/yr vs 0.35%/yr for XMMO.

Performance

QQQ vs. XMMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and Invesco S&P MidCap Momentum ETF (XMMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QQQ having a 13.58% return and XMMO slightly lower at 13.17%. Over the past 10 years, QQQ has outperformed XMMO with an annualized return of 20.72%, while XMMO has yielded a comparatively lower 18.35% annualized return.

QQQ

• 1D: 0.10%
• 1M: -5.91%
• 6M: 12.30%
• YTD: 13.58%
• 1Y: 24.61%
• 3Y*: 23.54%
• 5Y*: 14.68%
• 10Y*: 20.72%
• ALL TIME*: 10.70%

XMMO

• 1D: -0.57%
• 1M: -8.97%
• 6M: 9.46%
• YTD: 13.17%
• 1Y: 19.87%
• 3Y*: 24.48%
• 5Y*: 13.97%
• 10Y*: 18.35%
• ALL TIME*: 12.19%

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

QQQ vs. XMMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	13.58%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%
XMMO Invesco S&P MidCap Momentum ETF	13.17%	13.04%	38.03%	20.39%	-16.02%	16.69%	29.17%	36.78%	6.12%	37.18%

Correlation

The correlation between QQQ and XMMO is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 3, 2005	0.78

The correlation between QQQ and XMMO has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

QQQ vs. XMMO - Sectors Allocation Comparison

Sectors	QQQ	XMMO
Technology	60.9%	11.7%
Communication Services	13.1%	1.5%
Consumer Cyclical	10.7%	2.3%
Consumer Defensive	6.3%	2.9%
Healthcare	3.6%	7.4%
Industrials	2.7%	42.4%
Utilities	1.1%	5.9%
Basic Materials	1.0%	6.9%
Energy	0.5%	9.8%
Financial Services	0.2%	2.7%
Real Estate	0.1%	6.4%

Return for Risk

QQQ vs. XMMO — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 51
QQQ Sharpe Ratio Rank: 51
QQQ Sortino Ratio Rank: 47
QQQ Omega Ratio Rank: 48
QQQ Calmar Ratio Rank: 54
QQQ Martin Ratio Rank: 57

XMMO

XMMO Risk / Return Rank: 42
XMMO Sharpe Ratio Rank: 35
XMMO Sortino Ratio Rank: 35
XMMO Omega Ratio Rank: 34
XMMO Calmar Ratio Rank: 51
XMMO Martin Ratio Rank: 57

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. XMMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Invesco S&P MidCap Momentum ETF (XMMO). 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	XMMO	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.97	+0.35
Sortino ratio: Return per unit of downside risk	1.83	1.45	+0.38
Omega ratio: Gain probability vs. loss probability	1.23	1.18	+0.05
Calmar ratio: Return relative to maximum drawdown	2.07	1.97	+0.10
Martin ratio: Return relative to average drawdown	7.22	7.23	-0.01

QQQ vs. XMMO - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 1.32, which is higher than the XMMO Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of QQQ and XMMO, 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. XMMO - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for QQQ and XMMO.

Drawdown Indicators

	QQQ	XMMO	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-55.37%	-27.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-10.14%	-1.82%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-24.93%	+2.16%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-27.91%	-7.21%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-36.74%	+1.62%
Current Drawdown Current decline from peak	-6.61%	-10.14%	+3.53%
Average Drawdown Average peak-to-trough decline	-32.65%	-9.42%	-23.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	2.76%	+0.66%

Volatility

QQQ vs. XMMO - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 7.41% compared to Invesco S&P MidCap Momentum ETF (XMMO) at 6.86%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	XMMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	6.86%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	15.55%	17.53%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	18.78%	20.70%	-1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.81%	21.73%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.45%	22.35%	+0.10%

QQQ vs. XMMO - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is lower than XMMO's 0.35% expense ratio.

Dividends

QQQ vs. XMMO - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.44%, less than XMMO's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.44%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
XMMO Invesco S&P MidCap Momentum ETF	0.62%	0.78%	0.34%	0.80%	1.43%	0.41%	0.61%	0.60%	0.19%	0.21%	0.22%	0.64%

Frequently Asked Questions

Can I hold both QQQ and XMMO in my portfolio?

QQQ and XMMO have a correlation of 0.70, 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 XMMO?

QQQ has higher volatility (7.41%) compared to XMMO (6.86%). In terms of maximum drawdown, QQQ dropped -82.97% vs XMMO's -55.37%.

Which ETF is better, QQQ or XMMO?

On 10-year performance, QQQ leads with 20.72% vs 18.35% for XMMO. On fees, QQQ is cheaper at 0.18% per year. On volatility, XMMO has been the lower-risk option at 6.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or XMMO?

Over the 10-year period, QQQ has performed better with a 20.72% return vs 18.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or XMMO?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.35% for XMMO.

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

XMMO has the higher dividend yield at 0.62%, compared with 0.44% for QQQ.

What is the main difference between QQQ and XMMO?

QQQ is categorized as Nasdaq-100, while XMMO is Momentum. QQQ tracks NASDAQ-100 Index, while XMMO tracks S&P MidCap 400 Momentum Index. Their fees differ too: 0.18% for QQQ and 0.35% for XMMO.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.32 vs 0.97), 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.