QQQM vs. SWLGX

Last updated Jun 26, 2026

QQQM (Invesco NASDAQ 100 ETF) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SWLGX is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Both are passively managed. Over the past 5 years, QQQM returned 16.21%/yr vs 13.05%/yr for SWLGX. With a 0.98 correlation, they move nearly in lockstep. QQQM charges 0.15%/yr vs 0.04%/yr for SWLGX.

Performance

QQQM vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and Schwab U.S. Large-Cap Growth Index Fund (SWLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQM achieves a 16.89% return, which is significantly higher than SWLGX's 1.43% return.

QQQM

• 1D: 0.77%
• 1M: -1.82%
• YTD: 16.89%
• 6M: 15.09%
• 1Y: 33.06%
• 3Y*: 26.84%
• 5Y*: 16.21%
• 10Y*: —

SWLGX

• 1D: -0.11%
• 1M: -4.61%
• YTD: 1.43%
• 6M: -0.06%
• 1Y: 15.85%
• 3Y*: 21.90%
• 5Y*: 13.05%
• 10Y*: —

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

QQQM vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	16.89%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	1.43%	18.55%	33.30%	42.67%	-29.17%	27.55%	5.43%

Correlation

The correlation between QQQM and SWLGX 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 (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.98

The correlation between QQQM and SWLGX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

QQQM vs. SWLGX - Sectors Allocation Comparison

Sectors	QQQM	SWLGX
Technology	58.7%	53.9%
Communication Services	14.3%	12.4%
Consumer Cyclical	11.4%	12.7%
Consumer Defensive	6.4%	2.4%
Healthcare	3.7%	7.0%
Industrials	2.6%	5.4%
Utilities	1.2%	0.3%
Basic Materials	1.0%	0.3%
Energy	0.5%	0.3%
Financial Services	0.2%	5.0%
Real Estate	0.1%	0.4%

Return for Risk

QQQM vs. SWLGX — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 64
QQQM Sharpe Ratio Rank: 66
QQQM Sortino Ratio Rank: 61
QQQM Omega Ratio Rank: 64
QQQM Calmar Ratio Rank: 65
QQQM Martin Ratio Rank: 65

SWLGX

SWLGX Risk / Return Rank: 16
SWLGX Sharpe Ratio Rank: 18
SWLGX Sortino Ratio Rank: 17
SWLGX Omega Ratio Rank: 18
SWLGX Calmar Ratio Rank: 14
SWLGX Martin Ratio Rank: 15

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. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Schwab U.S. Large-Cap Growth Index Fund (SWLGX). 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	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.01	+0.86
Sortino ratio: Return per unit of downside risk	2.46	1.44	+1.02
Omega ratio: Gain probability vs. loss probability	1.33	1.18	+0.15
Calmar ratio: Return relative to maximum drawdown	2.78	1.01	+1.77
Martin ratio: Return relative to average drawdown	10.21	3.29	+6.92

QQQM vs. SWLGX - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 1.87, which is higher than the SWLGX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of QQQM and SWLGX, 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. SWLGX - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for QQQM and SWLGX.

Drawdown Indicators

	QQQM	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-32.69%	-2.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-16.16%	+4.20%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-23.30%	+0.60%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-32.69%	-2.35%
Current Drawdown Current decline from peak	-3.91%	-6.96%	+3.05%
Average Drawdown Average peak-to-trough decline	-8.19%	-7.04%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	4.95%	-1.70%

Volatility

QQQM vs. SWLGX - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 8.84% compared to Schwab U.S. Large-Cap Growth Index Fund (SWLGX) at 6.08%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than SWLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.84%	6.08%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	12.58%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	17.79%	16.24%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	21.62%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	22.68%	-0.39%

QQQM vs. SWLGX - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is higher than SWLGX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QQQM vs. SWLGX - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.44%, less than SWLGX's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QQQM Invesco NASDAQ 100 ETF	0.44%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.45%	0.46%	0.52%	0.67%	0.93%	1.76%	0.67%	0.96%	1.03%

Frequently Asked Questions

Can I hold both QQQM and SWLGX in my portfolio?

With a correlation of 0.94, QQQM and SWLGX 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 SWLGX?

QQQM has higher volatility (8.84%) compared to SWLGX (6.08%). In terms of maximum drawdown, QQQM dropped -35.04% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (1.87 vs 1.01), 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.