QQQJ vs. SPHQ

Last updated Aug 2, 2026

QQQJ (Invesco NASDAQ Next Gen 100 ETF) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - QQQJ is a Mid Cap Growth Equities fund tracking the NASDAQ Next Generation 100 Index, while SPHQ is a Quality Factor fund tracking the S&P 500 Quality Index. Both are passively managed. Over the past 5 years, QQQJ returned 6.23%/yr vs 12.73%/yr for SPHQ. Their 0.79 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.15% expense ratio.

Performance

QQQJ vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Next Gen 100 ETF (QQQJ) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQJ achieves a 19.53% return, which is significantly higher than SPHQ's 13.51% return.

QQQJ

• 1D: 0.02%
• 1M: -3.19%
• 6M: 15.30%
• YTD: 19.53%
• 1Y: 34.13%
• 3Y*: 19.03%
• 5Y*: 6.23%
• 10Y*: —
• ALL TIME*: 9.75%

SPHQ

• 1D: -0.47%
• 1M: -3.64%
• 6M: 10.07%
• YTD: 13.51%
• 1Y: 21.02%
• 3Y*: 18.91%
• 5Y*: 12.73%
• 10Y*: 14.60%
• ALL TIME*: 10.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQJ Invesco NASDAQ Next Gen 100 ETF	$4.82M	$6.21M	$6.07M
SPHQ Invesco S&P 500 Quality ETF	$119.48M	$136.23M	$143.26M

QQQJ vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQJ Invesco NASDAQ Next Gen 100 ETF	19.53%	20.44%	15.36%	13.68%	-28.25%	9.76%	15.34%
SPHQ Invesco S&P 500 Quality ETF	13.51%	13.25%	25.44%	24.83%	-15.76%	28.03%	4.70%

Correlation

The correlation between QQQJ and SPHQ is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.79

The correlation between QQQJ and SPHQ has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

QQQJ vs. SPHQ - Sectors Allocation Comparison

Sectors	QQQJ	SPHQ
Technology	34.2%	41.2%
Healthcare	23.3%	3.2%
Industrials	13.6%	17.7%
Consumer Cyclical	11.8%	5.3%
Communication Services	5.9%	6.4%
Consumer Defensive	2.9%	7.5%
Utilities	2.8%	4.5%
Basic Materials	2.5%	2.5%
Financial Services	2.0%	15.2%
Energy	1.1%	1.0%
Real Estate	-	-

Return for Risk

QQQJ vs. SPHQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQJ

QQQJ Risk / Return Rank: 77
QQQJ Sharpe Ratio Rank: 76
QQQJ Sortino Ratio Rank: 76
QQQJ Omega Ratio Rank: 73
QQQJ Calmar Ratio Rank: 79
QQQJ Martin Ratio Rank: 82

SPHQ

SPHQ Risk / Return Rank: 62
SPHQ Sharpe Ratio Rank: 59
SPHQ Sortino Ratio Rank: 61
SPHQ Omega Ratio Rank: 56
SPHQ Calmar Ratio Rank: 66
SPHQ Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQJ vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Next Gen 100 ETF (QQQJ) and Invesco S&P 500 Quality ETF (SPHQ). 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.

	QQQJ	SPHQ	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.39	+0.34
Sortino ratio: Return per unit of downside risk	2.41	2.02	+0.39
Omega ratio: Gain probability vs. loss probability	1.30	1.24	+0.06
Calmar ratio: Return relative to maximum drawdown	2.80	2.26	+0.54
Martin ratio: Return relative to average drawdown	11.02	8.07	+2.95

QQQJ vs. SPHQ - Sharpe Ratio Comparison

The current QQQJ Sharpe Ratio is 1.73, which is comparable to the SPHQ Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of QQQJ and SPHQ, 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

QQQJ vs. SPHQ - Drawdown Comparison

The maximum QQQJ drawdown since its inception was -39.57%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for QQQJ and SPHQ.

Drawdown Indicators

	QQQJ	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-39.57%	-57.83%	+18.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.84%	-8.90%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-22.46%	-16.57%	-5.89%
Max Drawdown (5Y) Largest decline over 5 years	-39.57%	-25.04%	-14.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.60%	—
Current Drawdown Current decline from peak	-3.66%	-6.03%	+2.37%
Average Drawdown Average peak-to-trough decline	-15.38%	-10.64%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.49%	+0.51%

Volatility

QQQJ vs. SPHQ - Volatility Comparison

The current volatility for Invesco NASDAQ Next Gen 100 ETF (QQQJ) is 3.49%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 4.84%. This indicates that QQQJ experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQJ	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.84%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	15.46%	12.44%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	19.15%	14.53%	+4.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.14%	16.74%	+5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.96%	17.97%	+3.99%

QQQJ vs. SPHQ - Expense Ratio Comparison

Both QQQJ and SPHQ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

QQQJ vs. SPHQ - Dividend Comparison

QQQJ's dividend yield for the trailing twelve months is around 0.56%, less than SPHQ's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQJ Invesco NASDAQ Next Gen 100 ETF	0.56%	0.85%	0.77%	0.67%	0.76%	0.91%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.10%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both QQQJ and SPHQ in my portfolio?

QQQJ and SPHQ have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQJ or SPHQ?

SPHQ has higher volatility (4.84%) compared to QQQJ (3.49%). In terms of maximum drawdown, QQQJ dropped -39.57% vs SPHQ's -57.83%.

Which ETF is better, QQQJ or SPHQ?

On 5-year performance, SPHQ leads with 12.73% vs 6.23% for QQQJ. Both ETFs have the same 0.15% expense ratio. On volatility, QQQJ has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQJ or SPHQ?

Over the 5-year period, SPHQ has performed better with a 12.73% return vs 6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQJ or SPHQ?

QQQJ and SPHQ have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, QQQJ or SPHQ?

SPHQ has the higher dividend yield at 1.10%, compared with 0.56% for QQQJ.

What is the main difference between QQQJ and SPHQ?

QQQJ is categorized as Mid Cap Growth Equities, while SPHQ is Quality Factor. QQQJ tracks NASDAQ Next Generation 100 Index, while SPHQ tracks S&P 500 Quality Index.

Which has better risk-adjusted returns?

QQQJ currently has the higher Sharpe Ratio (1.73 vs 1.39), 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.