QQQA vs. QEW

Last updated Jun 4, 2026

QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - QQQA tracks the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. QQQA charges 0.58%/yr vs 0.25%/yr for QEW.

Performance

QQQA vs. QEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and Invesco QQQ Equal Weight ETF (QEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QQQA

• 1D: 2.20%
• 1M: 23.31%
• YTD: 65.37%
• 6M: 67.98%
• 1Y: 88.43%
• 3Y*: 34.58%
• 5Y*: 14.74%
• 10Y*: —

QEW

• 1D: -0.11%
• 1M: 10.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQA vs. QEW - Yearly Performance Comparison

	2026 (YTD)
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	56.15%
QEW Invesco QQQ Equal Weight ETF	21.49%

Correlation

The correlation between QQQA and QEW is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.75

Return for Risk

QQQA vs. QEW — Risk / Return Rank

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

QQQA

QQQA Risk / Return Rank: 90
QQQA Sharpe Ratio Rank: 92
QQQA Sortino Ratio Rank: 87
QQQA Omega Ratio Rank: 87
QQQA Calmar Ratio Rank: 92
QQQA Martin Ratio Rank: 92

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.

QQQA vs. QEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) and Invesco QQQ Equal Weight ETF (QEW). 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.

	QQQA	QEW	Difference
Sharpe ratio: Return per unit of total volatility	3.41	—	—
Sortino ratio: Return per unit of downside risk	4.00	—	—
Omega ratio: Gain probability vs. loss probability	1.54	—	—
Calmar ratio: Return relative to maximum drawdown	6.11	—	—
Martin ratio: Return relative to average drawdown	22.85	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QQQA	QEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	9.75	-9.16

Drawdowns

QQQA vs. QEW - Drawdown Comparison

The maximum QQQA drawdown since its inception was -38.44%, which is greater than QEW's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for QQQA and QEW.

Drawdown Indicators

	QQQA	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-38.44%	-4.15%	-34.29%
Max Drawdown (1Y) Largest decline over 1 year	-14.54%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.44%	—	—
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-15.68%	-0.57%	-15.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	—	—

Volatility

Volatility by Period

	QQQA	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.17%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.05%	15.78%	+10.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.83%	15.78%	+10.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.77%	15.78%	+9.99%

QQQA vs. QEW - Expense Ratio Comparison

QQQA has a 0.58% expense ratio, which is higher than QEW's 0.25% expense ratio.

Dividends

QQQA vs. QEW - Dividend Comparison

QQQA's dividend yield for the trailing twelve months is around 0.06%, while QEW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF	0.06%	0.10%	0.09%	0.34%	0.28%	0.10%

Frequently Asked Questions

Can I hold both QQQA and QEW in my portfolio?

QQQA and QEW have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQA or QEW?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQA or QEW?

QEW is cheaper with a 0.25% expense ratio, compared with 0.58% for QQQA.

Which ETF pays a higher dividend yield, QQQA or QEW?

QQQA has the higher dividend yield at 0.06%, compared with 0.00% for QEW.

What is the main difference between QQQA and QEW?

QQQA tracks NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.58% for QQQA and 0.25% for QEW.