QQQ5.L vs. QTOP

Last updated Jul 18, 2026

QQQ5.L (Leverage Shares 5x Long Nasdaq 100 ETP Securities) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both Nasdaq-100 funds - QQQ5.L tracks the Invesco QQQ Trust while QTOP tracks the Nasdaq-100 Top 30 Index. Both are passively managed. Over the past year, QQQ5.L returned 54.79% vs 27.10% for QTOP. A 0.66 correlation means they provide meaningful diversification when combined. QQQ5.L charges 0.75%/yr vs 0.20%/yr for QTOP.

Performance

QQQ5.L vs. QTOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 5x Long Nasdaq 100 ETP Securities (QQQ5.L) and iShares Nasdaq Top 30 Stocks ETF (QTOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ5.L achieves a 22.16% return, which is significantly higher than QTOP's 14.48% return.

QQQ5.L

• 1D: -11.37%
• 1M: -28.71%
• 6M: 20.21%
• YTD: 22.16%
• 1Y: 54.79%
• 3Y*: 33.96%
• 5Y*: —
• 10Y*: —

QTOP

• 1D: -1.43%
• 1M: -3.31%
• 6M: 13.20%
• YTD: 14.48%
• 1Y: 27.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQ5.L vs. QTOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQ5.L Leverage Shares 5x Long Nasdaq 100 ETP Securities	22.16%	2.21%	16.77%
QTOP iShares Nasdaq Top 30 Stocks ETF	14.48%	22.19%	6.25%

Correlation

The correlation between QQQ5.L and QTOP is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	0.66

The correlation between QQQ5.L and QTOP has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.

QQQ5.L vs. QTOP - Sectors Allocation Comparison

Sectors	QQQ5.L	QTOP
Technology	58.0%	62.3%
Communication Services	14.5%	15.7%
Consumer Cyclical	11.6%	9.9%
Consumer Defensive	6.6%	6.9%
Healthcare	3.7%	2.9%
Industrials	2.6%	0.9%
Utilities	1.2%	-
Basic Materials	1.0%	1.4%
Energy	0.5%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QQQ5.L vs. QTOP — Risk / Return Rank

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

QQQ5.L

QQQ5.L Risk / Return Rank: 27
QQQ5.L Sharpe Ratio Rank: 22
QQQ5.L Sortino Ratio Rank: 32
QQQ5.L Omega Ratio Rank: 30
QQQ5.L Calmar Ratio Rank: 25
QQQ5.L Martin Ratio Rank: 25

QTOP

QTOP Risk / Return Rank: 48
QTOP Sharpe Ratio Rank: 47
QTOP Sortino Ratio Rank: 43
QTOP Omega Ratio Rank: 45
QTOP Calmar Ratio Rank: 52
QTOP Martin Ratio Rank: 53

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.

QQQ5.L vs. QTOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 5x Long Nasdaq 100 ETP Securities (QQQ5.L) and iShares Nasdaq Top 30 Stocks ETF (QTOP). 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.

	QQQ5.L	QTOP	Difference
Sharpe ratio: Return per unit of total volatility	0.62	1.33	-0.71
Sortino ratio: Return per unit of downside risk	1.41	1.84	-0.43
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	0.96	2.11	-1.16
Martin ratio: Return relative to average drawdown	2.44	7.15	-4.71

QQQ5.L vs. QTOP - Sharpe Ratio Comparison

The current QQQ5.L Sharpe Ratio is 0.62, which is lower than the QTOP Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of QQQ5.L and QTOP, 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

QQQ5.L vs. QTOP - Drawdown Comparison

The maximum QQQ5.L drawdown since its inception was -96.50%, which is greater than QTOP's maximum drawdown of -23.28%. Use the drawdown chart below to compare losses from any high point for QQQ5.L and QTOP.

Drawdown Indicators

	QQQ5.L	QTOP	Difference
Max Drawdown Largest peak-to-trough decline	-96.50%	-23.28%	-73.22%
Max Drawdown (1Y) Largest decline over 1 year	-57.02%	-12.88%	-44.14%
Max Drawdown (3Y) Largest decline over 3 years	-80.11%	—	—
Current Drawdown Current decline from peak	-56.49%	-6.91%	-49.58%
Average Drawdown Average peak-to-trough decline	-74.59%	-3.82%	-70.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.36%	3.80%	+18.56%

Volatility

QQQ5.L vs. QTOP - Volatility Comparison

Leverage Shares 5x Long Nasdaq 100 ETP Securities (QQQ5.L) has a higher volatility of 31.01% compared to iShares Nasdaq Top 30 Stocks ETF (QTOP) at 8.51%. This indicates that QQQ5.L's price experiences larger fluctuations and is considered to be riskier than QTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ5.L	QTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.01%	8.51%	+22.50%
Volatility (6M) Calculated over the trailing 6-month period	69.80%	17.18%	+52.62%
Volatility (1Y) Calculated over the trailing 1-year period	87.91%	20.48%	+67.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.54%	23.57%	+81.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	105.54%	23.57%	+81.97%

QQQ5.L vs. QTOP - Expense Ratio Comparison

QQQ5.L has a 0.75% expense ratio, which is higher than QTOP's 0.20% expense ratio.

Dividends

QQQ5.L vs. QTOP - Dividend Comparison

QQQ5.L has not paid dividends to shareholders, while QTOP's dividend yield for the trailing twelve months is around 0.34%.

Position	TTM	2025	2024
QQQ5.L Leverage Shares 5x Long Nasdaq 100 ETP Securities	0.00%	0.00%	0.00%
QTOP iShares Nasdaq Top 30 Stocks ETF	0.34%	0.38%	0.11%

Frequently Asked Questions

Can I hold both QQQ5.L and QTOP in my portfolio?

QQQ5.L and QTOP have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQ5.L or QTOP?

On fees, QTOP is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQ5.L or QTOP?

QTOP is cheaper with a 0.20% expense ratio, compared with 0.75% for QQQ5.L.

What is the main difference between QQQ5.L and QTOP?

QQQ5.L tracks Invesco QQQ Trust, while QTOP tracks Nasdaq-100 Top 30 Index. They also come from different issuers: Leverage Shares and iShares. Their fees differ too: 0.75% for QQQ5.L and 0.20% for QTOP.