QQQE vs. QNDX

Last updated Jul 17, 2026

QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds - QQQE tracks the NASDAQ-100 Equal Weighted Index while QNDX tracks the Nasdaq-100 Index. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. QQQE charges 0.35%/yr vs 0.10%/yr for QNDX.

Performance

QQQE vs. QNDX - Performance Comparison

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

Returns By Period

QQQE

• 1D: -0.26%
• 1M: -1.61%
• 6M: 13.70%
• YTD: 16.12%
• 1Y: 21.29%
• 3Y*: 14.88%
• 5Y*: 9.06%
• 10Y*: 14.91%

QNDX

• 1D: -1.56%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQE vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	-0.27%
QNDX SPDR Portfolio Nasdaq 100 ETF	-1.16%

Correlation

The correlation between QQQE and QNDX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.94

Return for Risk

QQQE vs. QNDX — Risk / Return Rank

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

QQQE

QQQE Risk / Return Rank: 49
QQQE Sharpe Ratio Rank: 47
QQQE Sortino Ratio Rank: 45
QQQE Omega Ratio Rank: 44
QQQE Calmar Ratio Rank: 56
QQQE Martin Ratio Rank: 54

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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.

	QQQE	QNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	—	—
Sortino ratio: Return per unit of downside risk	1.90	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	7.47	—	—

Drawdowns

QQQE vs. QNDX - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, which is greater than QNDX's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for QQQE and QNDX.

Drawdown Indicators

	QQQE	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-32.14%	-4.09%	-28.05%
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	-3.35%	-4.09%	+0.74%
Average Drawdown Average peak-to-trough decline	-5.14%	-1.91%	-3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	—	—

Volatility

Volatility by Period

	QQQE	QNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	22.37%	-6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	22.37%	-1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.74%	22.37%	-1.63%

QQQE vs. QNDX - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is higher than QNDX's 0.10% expense ratio.

Dividends

QQQE vs. QNDX - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.57%, while QNDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNDX SPDR Portfolio Nasdaq 100 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	0.57%	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 QNDX in my portfolio?

With a correlation of 0.94, QQQE and QNDX 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 QNDX?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQE or QNDX?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.35% for QQQE.

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

QQQE has the higher dividend yield at 0.57%, compared with 0.00% for QNDX.

What is the main difference between QQQE and QNDX?

QQQE tracks NASDAQ-100 Equal Weighted Index, while QNDX tracks Nasdaq-100 Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 0.35% for QQQE and 0.10% for QNDX.