QQQI vs. MMKT

Last updated Jun 24, 2026

QQQI (NEOS Nasdaq-100 High Income ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - QQQI is a Nasdaq-100 fund actively managed by Neos, while MMKT is a Money Market fund actively managed by Texas Capital. Both are actively managed. Over the past year, QQQI returned 24.88% vs 3.78% for MMKT. At a correlation of -0.02, they often move in opposite directions. QQQI charges 0.68%/yr vs 0.20%/yr for MMKT.

Performance

QQQI vs. MMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Nasdaq-100 High Income ETF (QQQI) and Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQI achieves a 9.86% return, which is significantly higher than MMKT's 1.64% return.

QQQI

• 1D: -2.87%
• 1M: -0.93%
• YTD: 9.86%
• 6M: 8.75%
• 1Y: 24.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MMKT

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.64%
• 6M: 1.74%
• 1Y: 3.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQI vs. MMKT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQI NEOS Nasdaq-100 High Income ETF	9.86%	18.62%	6.28%
MMKT Texas Capital Government Money Market ETF	1.64%	4.13%	1.22%

Correlation

The correlation between QQQI and MMKT is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	-0.02

The correlation between QQQI and MMKT shifts across timeframes, from -0.13 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

QQQI vs. MMKT — Risk / Return Rank

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

QQQI

QQQI Risk / Return Rank: 53
QQQI Sharpe Ratio Rank: 51
QQQI Sortino Ratio Rank: 47
QQQI Omega Ratio Rank: 52
QQQI Calmar Ratio Rank: 54
QQQI Martin Ratio Rank: 64

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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.

QQQI vs. MMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Nasdaq-100 High Income ETF (QQQI) and Texas Capital Government Money Market ETF (MMKT). 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.

	QQQI	MMKT	Difference
Sharpe ratio: Return per unit of total volatility	1.69	16.75	-15.06
Sortino ratio: Return per unit of downside risk	2.25	62.70	-60.45
Omega ratio: Gain probability vs. loss probability	1.32	15.48	-14.17
Calmar ratio: Return relative to maximum drawdown	2.60	152.14	-149.53
Martin ratio: Return relative to average drawdown	11.10	912.59	-901.49

QQQI vs. MMKT - Sharpe Ratio Comparison

The current QQQI Sharpe Ratio is 1.69, which is lower than the MMKT Sharpe Ratio of 16.75. The chart below compares the historical Sharpe Ratios of QQQI and MMKT, 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

QQQI vs. MMKT - Drawdown Comparison

The maximum QQQI drawdown since its inception was -20.00%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for QQQI and MMKT.

Drawdown Indicators

	QQQI	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-20.00%	-0.04%	-19.96%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-0.02%	-9.59%
Current Drawdown Current decline from peak	-3.32%	0.00%	-3.32%
Average Drawdown Average peak-to-trough decline	-2.20%	-0.00%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	0.00%	+2.25%

Volatility

QQQI vs. MMKT - Volatility Comparison

NEOS Nasdaq-100 High Income ETF (QQQI) has a higher volatility of 7.63% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that QQQI's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQI	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	0.05%	+7.58%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	0.13%	+11.86%
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	0.23%	+14.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	0.23%	+17.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	0.23%	+17.30%

QQQI vs. MMKT - Expense Ratio Comparison

QQQI has a 0.68% expense ratio, which is higher than MMKT's 0.20% expense ratio.

Dividends

QQQI vs. MMKT - Dividend Comparison

QQQI's dividend yield for the trailing twelve months is around 14.97%, more than MMKT's 3.71% yield.

Position	TTM	2025	2024
MMKT Texas Capital Government Money Market ETF	3.71%	3.98%	1.07%
QQQI NEOS Nasdaq-100 High Income ETF	14.97%	13.82%	12.85%

Frequently Asked Questions

Can I hold both QQQI and MMKT in my portfolio?

QQQI and MMKT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQI or MMKT?

QQQI has higher volatility (7.63%) compared to MMKT (0.05%). In terms of maximum drawdown, QQQI dropped -20.00% vs MMKT's -0.04%.

Which ETF is better, QQQI or MMKT?

On 1-year performance, QQQI leads with 24.88% vs 3.78% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQI or MMKT?

Over the 1-year period, QQQI has performed better with a 24.88% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQI or MMKT?

MMKT is cheaper with a 0.20% expense ratio, compared with 0.68% for QQQI.

Which ETF pays a higher dividend yield, QQQI or MMKT?

QQQI has the higher dividend yield at 14.97%, compared with 3.71% for MMKT.

What is the main difference between QQQI and MMKT?

QQQI is categorized as Nasdaq-100, while MMKT is Money Market. They also come from different issuers: Neos and Texas Capital. Their fees differ too: 0.68% for QQQI and 0.20% for MMKT.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.75 vs 1.69), 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.