QQQM vs. VEU

Last updated Jul 21, 2026

QQQM (Invesco NASDAQ 100 ETF) and VEU (Vanguard FTSE All-World ex-US ETF) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while VEU is a Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index. Both are passively managed. Over the past 5 years, QQQM returned 14.77%/yr vs 8.69%/yr for VEU. A 0.70 correlation means they provide meaningful diversification when combined. QQQM charges 0.15%/yr vs 0.04%/yr for VEU.

Performance

QQQM vs. VEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and Vanguard FTSE All-World ex-US ETF (VEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQM achieves a 13.60% return, which is significantly higher than VEU's 11.14% return.

QQQM

• 1D: 0.09%
• 1M: -5.78%
• 6M: 12.36%
• YTD: 13.60%
• 1Y: 24.66%
• 3Y*: 23.62%
• 5Y*: 14.77%
• 10Y*: —
• ALL TIME*: 16.84%

VEU

• 1D: -0.39%
• 1M: -4.32%
• 6M: 6.55%
• YTD: 11.14%
• 1Y: 24.44%
• 3Y*: 17.01%
• 5Y*: 8.69%
• 10Y*: 9.50%
• ALL TIME*: 5.36%

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

QQQM vs. VEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	13.60%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
VEU Vanguard FTSE All-World ex-US ETF	11.14%	32.35%	5.56%	15.84%	-15.58%	8.27%	12.03%

Correlation

The correlation between QQQM and VEU is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.70

The correlation between QQQM and VEU has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

QQQM vs. VEU - Sectors Allocation Comparison

Sectors	QQQM	VEU
Technology	60.9%	23.2%
Communication Services	13.1%	4.2%
Consumer Cyclical	10.7%	7.6%
Consumer Defensive	6.3%	4.9%
Healthcare	3.6%	6.8%
Industrials	2.7%	14.7%
Utilities	1.1%	3.0%
Basic Materials	1.0%	6.5%
Energy	0.5%	4.3%
Financial Services	0.2%	23.1%
Real Estate	0.1%	1.8%

Return for Risk

QQQM vs. VEU — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 52
QQQM Sharpe Ratio Rank: 51
QQQM Sortino Ratio Rank: 48
QQQM Omega Ratio Rank: 49
QQQM Calmar Ratio Rank: 54
QQQM Martin Ratio Rank: 57

VEU

VEU Risk / Return Rank: 58
VEU Sharpe Ratio Rank: 59
VEU Sortino Ratio Rank: 56
VEU Omega Ratio Rank: 58
VEU Calmar Ratio Rank: 57
VEU Martin Ratio Rank: 62

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. VEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Vanguard FTSE All-World ex-US ETF (VEU). 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	VEU	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.47	-0.14
Sortino ratio: Return per unit of downside risk	1.84	2.05	-0.22
Omega ratio: Gain probability vs. loss probability	1.24	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	2.07	2.15	-0.08
Martin ratio: Return relative to average drawdown	7.23	7.96	-0.73

QQQM vs. VEU - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 1.33, which is comparable to the VEU Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of QQQM and VEU, 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. VEU - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for QQQM and VEU.

Drawdown Indicators

	QQQM	VEU	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-61.52%	+26.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-11.43%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-13.69%	-9.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-29.14%	-5.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.98%	—
Current Drawdown Current decline from peak	-6.61%	-4.67%	-1.94%
Average Drawdown Average peak-to-trough decline	-8.15%	-13.06%	+4.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.08%	+0.34%

Volatility

QQQM vs. VEU - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 7.27% compared to Vanguard FTSE All-World ex-US ETF (VEU) at 5.32%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than VEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	VEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	5.32%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	15.38%	14.82%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.63%	16.76%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.66%	16.31%	+6.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	17.05%	+5.25%

QQQM vs. VEU - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is higher than VEU'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. VEU - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.46%, less than VEU's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQM Invesco NASDAQ 100 ETF	0.46%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%
VEU Vanguard FTSE All-World ex-US ETF	2.61%	3.09%	3.24%	3.32%	3.12%	3.08%	2.00%	3.10%	3.27%	2.66%	2.96%	2.95%

Frequently Asked Questions

Can I hold both QQQM and VEU in my portfolio?

QQQM and VEU have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQM or VEU?

QQQM has higher volatility (7.27%) compared to VEU (5.32%). In terms of maximum drawdown, QQQM dropped -35.04% vs VEU's -61.52%.

Which ETF is better, QQQM or VEU?

On 5-year performance, QQQM leads with 14.77% vs 8.69% for VEU. On fees, VEU is cheaper at 0.04% per year. On volatility, VEU has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or VEU?

Over the 5-year period, QQQM has performed better with a 14.77% return vs 8.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or VEU?

VEU is cheaper with a 0.04% expense ratio, compared with 0.15% for QQQM.

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

VEU has the higher dividend yield at 2.61%, compared with 0.46% for QQQM.

What is the main difference between QQQM and VEU?

QQQM is categorized as Nasdaq-100, while VEU is Foreign Large Cap Equities. QQQM tracks NASDAQ-100 Index, while VEU tracks FTSE All-World ex US Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.15% for QQQM and 0.04% for VEU.

Which has better risk-adjusted returns?

VEU currently has the higher Sharpe Ratio (1.47 vs 1.33), 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.