QQQM vs. USD=X

Last updated Jun 16, 2026

QQQM (Invesco NASDAQ 100 ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index, while USD=X (USD Cash) is a currency. Over the past 5 years, QQQM returned 17.66%/yr vs 0.00%/yr for USD=X.

Performance

QQQM vs. USD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and USD Cash (USD=X). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QQQM

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

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

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

QQQM vs. USD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	21.25%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Return for Risk

QQQM vs. USD=X — 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

USD=X

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. USD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and USD Cash (USD=X). 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	USD=X	Difference
Sharpe ratio: Return per unit of total volatility	2.43	—	—
Sortino ratio: Return per unit of downside risk	3.13	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.52	—	—
Martin ratio: Return relative to average drawdown	13.11	—	—

Drawdowns

QQQM vs. USD=X - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for QQQM and USD=X.

Drawdown Indicators

	QQQM	USD=X	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	0.00%	-35.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	0.00%	-11.96%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	0.00%	-22.70%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	0.00%	-35.04%
Max Drawdown (10Y) Largest decline over 10 years	—	0.00%	—
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-8.22%	0.00%	-8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	0.00%	+3.20%

Volatility

QQQM vs. USD=X - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 8.01% compared to USD Cash (USD=X) at 0.00%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	USD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	0.00%	+8.01%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	0.00%	+14.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	0.00%	+17.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	0.00%	+22.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	0.00%	+22.25%

Frequently Asked Questions

Which is riskier, QQQM or USD=X?

QQQM has higher volatility (8.01%) compared to USD=X (0.00%). In terms of maximum drawdown, QQQM dropped -35.04% vs USD=X's 0.00%.