QQQM vs. VGPMX

Last updated Jul 21, 2026

QQQM (Invesco NASDAQ 100 ETF) and VGPMX (Vanguard Global Capital Cycles Fund) are both funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while VGPMX is a Global Equities fund managed by Vanguard. Over the past 5 years, QQQM returned 14.77%/yr vs 20.34%/yr for VGPMX. A 0.56 correlation means they provide meaningful diversification when combined. QQQM charges 0.15%/yr vs 0.36%/yr for VGPMX.

Performance

QQQM vs. VGPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and Vanguard Global Capital Cycles Fund (VGPMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QQQM having a 13.60% return and VGPMX slightly lower at 13.06%.

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%

VGPMX

• 1D: -0.48%
• 1M: -1.81%
• 6M: 6.78%
• YTD: 13.06%
• 1Y: 50.10%
• 3Y*: 26.51%
• 5Y*: 20.34%
• 10Y*: 9.25%
• ALL TIME*: 6.44%

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

QQQM vs. VGPMX - 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%
VGPMX Vanguard Global Capital Cycles Fund	13.06%	65.96%	5.78%	10.06%	7.34%	19.50%	12.11%

Correlation

The correlation between QQQM and VGPMX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.56

The correlation between QQQM and VGPMX has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

QQQM vs. VGPMX - Sectors Allocation Comparison

Sectors	QQQM	VGPMX
Technology	60.9%	9.5%
Communication Services	13.1%	6.5%
Consumer Cyclical	10.7%	5.1%
Consumer Defensive	6.3%	9.4%
Healthcare	3.6%	11.9%
Industrials	2.7%	2.6%
Utilities	1.1%	4.7%
Basic Materials	1.0%	38.0%
Energy	0.5%	4.4%
Financial Services	0.2%	5.7%
Real Estate	0.1%	2.2%

Return for Risk

QQQM vs. VGPMX — 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

VGPMX

VGPMX Risk / Return Rank: 89
VGPMX Sharpe Ratio Rank: 94
VGPMX Sortino Ratio Rank: 85
VGPMX Omega Ratio Rank: 85
VGPMX Calmar Ratio Rank: 92
VGPMX Martin Ratio Rank: 89

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. VGPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Vanguard Global Capital Cycles Fund (VGPMX). 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	VGPMX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.78	-1.45
Sortino ratio: Return per unit of downside risk	1.84	3.42	-1.58
Omega ratio: Gain probability vs. loss probability	1.24	1.47	-0.24
Calmar ratio: Return relative to maximum drawdown	2.07	3.92	-1.85
Martin ratio: Return relative to average drawdown	7.23	13.66	-6.43

QQQM vs. VGPMX - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 1.33, which is lower than the VGPMX Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of QQQM and VGPMX, 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. VGPMX - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, smaller than the maximum VGPMX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for QQQM and VGPMX.

Drawdown Indicators

	QQQM	VGPMX	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-78.85%	+43.81%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-12.80%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-14.63%	-8.07%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-22.71%	-12.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-54.59%	—
Current Drawdown Current decline from peak	-6.61%	-6.67%	+0.06%
Average Drawdown Average peak-to-trough decline	-8.15%	-34.47%	+26.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.66%	-0.24%

Volatility

QQQM vs. VGPMX - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 7.27% compared to Vanguard Global Capital Cycles Fund (VGPMX) at 4.81%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than VGPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	VGPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	4.81%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	15.38%	15.26%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	18.63%	18.02%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.66%	17.52%	+5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	20.75%	+1.55%

QQQM vs. VGPMX - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than VGPMX's 0.36% expense ratio.

Dividends

QQQM vs. VGPMX - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.46%, less than VGPMX's 3.45% 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%
VGPMX Vanguard Global Capital Cycles Fund	3.45%	2.59%	2.68%	3.22%	3.27%	3.26%	2.03%	2.39%	3.02%	0.02%	1.72%	2.32%

Frequently Asked Questions

Can I hold both QQQM and VGPMX in my portfolio?

QQQM and VGPMX have a correlation of 0.63, 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 VGPMX?

QQQM has higher volatility (7.27%) compared to VGPMX (4.81%). In terms of maximum drawdown, QQQM dropped -35.04% vs VGPMX's -78.85%.

Which has better risk-adjusted returns?

VGPMX currently has the higher Sharpe Ratio (2.78 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.