QQQM vs. QQQY

Last updated Jun 16, 2026

QQQM (Invesco NASDAQ 100 ETF) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both Nasdaq-100 funds. QQQM is passively managed, while QQQY is actively managed. Over the past year, QQQM returned 41.92% vs 34.98% for QQQY. Their correlation of 0.92 suggests significant overlap in exposure. QQQM charges 0.15%/yr vs 0.99%/yr for QQQY.

Performance

QQQM vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQM achieves a 21.25% return, which is significantly higher than QQQY's 18.97% return.

QQQM

• 1D: 3.11%
• 1M: 4.92%
• YTD: 21.25%
• 6M: 22.16%
• 1Y: 41.92%
• 3Y*: 27.28%
• 5Y*: 17.66%
• 10Y*: —

QQQY

• 1D: 3.07%
• 1M: 4.23%
• YTD: 18.97%
• 6M: 19.80%
• 1Y: 34.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQM vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QQQM Invesco NASDAQ 100 ETF	21.25%	20.85%	25.68%	9.88%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	18.97%	14.96%	7.70%	7.19%

Correlation

The correlation between QQQM and QQQY 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 (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.92

The correlation between QQQM and QQQY has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

QQQM vs. QQQY — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 80
QQQM Sharpe Ratio Rank: 85
QQQM Sortino Ratio Rank: 79
QQQM Omega Ratio Rank: 81
QQQM Calmar Ratio Rank: 76
QQQM Martin Ratio Rank: 76

QQQY

QQQY Risk / Return Rank: 76
QQQY Sharpe Ratio Rank: 81
QQQY Sortino Ratio Rank: 72
QQQY Omega Ratio Rank: 82
QQQY Calmar Ratio Rank: 69
QQQY Martin Ratio Rank: 75

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.

QQQM vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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.

	QQQM	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.32	+0.12
Sortino ratio: Return per unit of downside risk	3.13	2.91	+0.22
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.52	3.15	+0.37
Martin ratio: Return relative to average drawdown	13.11	12.91	+0.21

QQQM vs. QQQY - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.43, which is comparable to the QQQY Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of QQQM and QQQY, 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

QQQM vs. QQQY - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than QQQY's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for QQQM and QQQY.

Drawdown Indicators

	QQQM	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-19.05%	-15.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-11.14%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	—	—
Current Drawdown Current decline from peak	-0.32%	-0.45%	+0.13%
Average Drawdown Average peak-to-trough decline	-8.22%	-2.92%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.72%	+0.48%

Volatility

QQQM vs. QQQY - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 8.01% compared to Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) at 7.60%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	7.60%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	13.19%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	15.20%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	15.22%	+7.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	15.22%	+7.03%

QQQM vs. QQQY - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

QQQM vs. QQQY - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.41%, less than QQQY's 34.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.34%	45.34%	83.34%	20.64%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQM and QQQY in my portfolio?

With a correlation of 0.94, QQQM and QQQY 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, QQQM or QQQY?

QQQM has higher volatility (8.01%) compared to QQQY (7.60%). In terms of maximum drawdown, QQQM dropped -35.04% vs QQQY's -19.05%.

Which ETF is better, QQQM or QQQY?

On 1-year performance, QQQM leads with 41.92% vs 34.98% for QQQY. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQY has been the lower-risk option at 7.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or QQQY?

Over the 1-year period, QQQM has performed better with a 41.92% return vs 34.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or QQQY?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.99% for QQQY.

Which ETF pays a higher dividend yield, QQQM or QQQY?

QQQY has the higher dividend yield at 34.34%, compared with 0.41% for QQQM.

What is the main difference between QQQM and QQQY?

They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.15% for QQQM and 0.99% for QQQY.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.43 vs 2.32), 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.