QQQE vs. QEW

Last updated Jun 4, 2026

QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - QQQE tracks the NASDAQ-100 Equal Weighted Index while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. With a 0.99 correlation, they move nearly in lockstep. QQQE charges 0.35%/yr vs 0.25%/yr for QEW.

Performance

QQQE vs. QEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and Invesco QQQ Equal Weight ETF (QEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QQQE

• 1D: -0.10%
• 1M: 10.46%
• YTD: 19.12%
• 6M: 17.48%
• 1Y: 28.68%
• 3Y*: 18.69%
• 5Y*: 10.30%
• 10Y*: 15.49%

QEW

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

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

QQQE vs. QEW - Yearly Performance Comparison

	2026 (YTD)
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	21.44%
QEW Invesco QQQ Equal Weight ETF	21.49%

Correlation

The correlation between QQQE and QEW is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.99

Return for Risk

QQQE vs. QEW — Risk / Return Rank

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

QQQE

QQQE Risk / Return Rank: 58
QQQE Sharpe Ratio Rank: 59
QQQE Sortino Ratio Rank: 57
QQQE Omega Ratio Rank: 55
QQQE Calmar Ratio Rank: 61
QQQE Martin Ratio Rank: 59

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.

QQQE vs. QEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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.

	QQQE	QEW	Difference
Sharpe ratio: Return per unit of total volatility	2.04	—	—
Sortino ratio: Return per unit of downside risk	2.79	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.06	—	—
Martin ratio: Return relative to average drawdown	10.57	—	—
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

	QQQE	QEW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	9.75	-8.98

Drawdowns

QQQE vs. QEW - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, which is greater than QEW's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for QQQE and QEW.

Drawdown Indicators

	QQQE	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-32.14%	-4.15%	-27.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.14%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.11%	+0.01%
Average Drawdown Average peak-to-trough decline	-5.17%	-0.57%	-4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	—	—

Volatility

Volatility by Period

	QQQE	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	15.78%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.30%	15.78%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.72%	15.78%	+4.94%

QQQE vs. QEW - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is higher than QEW's 0.25% expense ratio.

Dividends

QQQE vs. QEW - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.52%, while QEW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.52%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both QQQE and QEW in my portfolio?

With a correlation of 0.99, QQQE and QEW 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.

Which ETF is better, QQQE 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, QQQE or QEW?

QEW is cheaper with a 0.25% expense ratio, compared with 0.35% for QQQE.

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

QQQE has the higher dividend yield at 0.52%, compared with 0.00% for QEW.

What is the main difference between QQQE and QEW?

QQQE tracks NASDAQ-100 Equal Weighted Index, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.35% for QQQE and 0.25% for QEW.