QQQE vs. QNXT

Last updated Jun 4, 2026

QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and QNXT (iShares Nasdaq-100 ex Top 30 ETF) are both Nasdaq-100 funds - QQQE tracks the NASDAQ-100 Equal Weighted Index while QNXT tracks the Nasdaq-100 ex Top 30 UCITS Index. Both are passively managed. Over the past year, QQQE returned 28.68% vs 25.34% for QNXT. With a 0.97 correlation, they move nearly in lockstep. QQQE charges 0.35%/yr vs 0.20%/yr for QNXT.

Performance

QQQE vs. QNXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQE achieves a 19.12% return, which is significantly higher than QNXT's 15.67% return.

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%

QNXT

• 1D: -0.61%
• 1M: 9.65%
• YTD: 15.67%
• 6M: 13.13%
• 1Y: 25.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQE vs. QNXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	19.12%	14.58%	-0.41%
QNXT iShares Nasdaq-100 ex Top 30 ETF	15.67%	14.97%	-2.52%

Correlation

The correlation between QQQE and QNXT is 0.96 - 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 (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.97

The correlation between QQQE and QNXT has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

QQQE vs. QNXT - Sectors Allocation Comparison

Sectors	QQQE	QNXT
Technology	45.1%	40.3%
Consumer Cyclical	10.9%	17.0%
Industrials	10.1%	10.6%
Communication Services	9.1%	8.8%
Healthcare	8.6%	7.5%
Consumer Defensive	7.7%	5.7%
Utilities	3.9%	6.1%
Energy	2.0%	2.7%
Financial Services	1.0%	1.0%
Basic Materials	0.9%	-
Real Estate	0.7%	0.3%

Return for Risk

QQQE vs. QNXT — 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

QNXT

QNXT Risk / Return Rank: 49
QNXT Sharpe Ratio Rank: 50
QNXT Sortino Ratio Rank: 49
QNXT Omega Ratio Rank: 47
QNXT Calmar Ratio Rank: 52
QNXT Martin Ratio Rank: 49

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. QNXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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	QNXT	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.70	+0.34
Sortino ratio: Return per unit of downside risk	2.79	2.37	+0.42
Omega ratio: Gain probability vs. loss probability	1.35	1.29	+0.06
Calmar ratio: Return relative to maximum drawdown	3.06	2.50	+0.56
Martin ratio: Return relative to average drawdown	10.57	8.17	+2.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQE vs. QNXT - Sharpe Ratio Comparison

The current QQQE Sharpe Ratio is 2.04, which is comparable to the QNXT Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of QQQE and QNXT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQE	QNXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	1.70	+0.34
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	0.90	-0.13

Drawdowns

QQQE vs. QNXT - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, which is greater than QNXT's maximum drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for QQQE and QNXT.

Drawdown Indicators

	QQQE	QNXT	Difference
Max Drawdown Largest peak-to-trough decline	-32.14%	-22.25%	-9.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-10.16%	+0.75%
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%	-0.61%	+0.51%
Average Drawdown Average peak-to-trough decline	-5.17%	-3.79%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	3.11%	-0.39%

Volatility

QQQE vs. QNXT - Volatility Comparison

Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a higher volatility of 3.79% compared to iShares Nasdaq-100 ex Top 30 ETF (QNXT) at 3.52%. This indicates that QQQE's price experiences larger fluctuations and is considered to be riskier than QNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQE	QNXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	3.52%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	10.92%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	15.05%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.30%	19.73%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.72%	19.73%	+0.99%

QQQE vs. QNXT - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is higher than QNXT's 0.20% expense ratio.

Dividends

QQQE vs. QNXT - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.52%, less than QNXT's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%	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 QNXT in my portfolio?

With a correlation of 0.96, QQQE and QNXT 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 is riskier, QQQE or QNXT?

QQQE has higher volatility (3.79%) compared to QNXT (3.52%). In terms of maximum drawdown, QQQE dropped -32.14% vs QNXT's -22.25%.

Which ETF is better, QQQE or QNXT?

On 1-year performance, QQQE leads with 28.68% vs 25.34% for QNXT. On fees, QNXT is cheaper at 0.20% per year. On volatility, QNXT has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQE or QNXT?

Over the 1-year period, QQQE has performed better with a 28.68% return vs 25.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQE or QNXT?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.35% for QQQE.

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

QNXT has the higher dividend yield at 0.60%, compared with 0.52% for QQQE.

What is the main difference between QQQE and QNXT?

QQQE tracks NASDAQ-100 Equal Weighted Index, while QNXT tracks Nasdaq-100 ex Top 30 UCITS Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.35% for QQQE and 0.20% for QNXT.

Which has better risk-adjusted returns?

QQQE currently has the higher Sharpe Ratio (2.04 vs 1.70), 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.