QTEC vs. GHM

Last updated Jun 5, 2026

QTEC (First Trust NASDAQ-100 Technology Sector Index Fund) is Nasdaq-100 fund tracking the NASDAQ-100 Technology Sector Index, while GHM (Graham Corporation) is a stock. Over the past 10 years, QTEC returned 22.85%/yr vs 20.70%/yr for GHM. At a 0.39 correlation, their price movements are largely independent.

Performance

QTEC vs. GHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) and Graham Corporation (GHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTEC achieves a 43.17% return, which is significantly lower than GHM's 68.08% return. Over the past 10 years, QTEC has outperformed GHM with an annualized return of 22.85%, while GHM has yielded a comparatively lower 20.70% annualized return.

QTEC

• 1D: -1.08%
• 1M: 18.57%
• YTD: 43.17%
• 6M: 39.34%
• 1Y: 64.90%
• 3Y*: 32.59%
• 5Y*: 17.36%
• 10Y*: 22.85%

GHM

• 1D: 3.94%
• 1M: 10.30%
• YTD: 68.08%
• 6M: 83.26%
• 1Y: 164.03%
• 3Y*: 109.98%
• 5Y*: 49.77%
• 10Y*: 20.70%

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

QTEC vs. GHM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	43.17%	22.28%	7.32%	67.02%	-39.83%	26.89%	38.76%	48.22%	-4.62%	37.78%
GHM Graham Corporation	68.08%	44.43%	134.42%	97.19%	-22.67%	-15.50%	-28.39%	-2.28%	10.81%	-3.80%

Correlation

The correlation between QTEC and GHM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since May 3, 2006	0.39

The correlation between QTEC and GHM shifts across timeframes, from 0.30 (10 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QTEC vs. GHM — Risk / Return Rank

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

QTEC

QTEC Risk / Return Rank: 79
QTEC Sharpe Ratio Rank: 87
QTEC Sortino Ratio Rank: 80
QTEC Omega Ratio Rank: 77
QTEC Calmar Ratio Rank: 80
QTEC Martin Ratio Rank: 71

GHM

GHM Risk / Return Rank: 94
GHM Sharpe Ratio Rank: 95
GHM Sortino Ratio Rank: 90
GHM Omega Ratio Rank: 90
GHM Calmar Ratio Rank: 97
GHM Martin Ratio Rank: 96

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.

QTEC vs. GHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) and Graham Corporation (GHM). 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.

	QTEC	GHM	Difference
Sharpe ratio: Return per unit of total volatility	2.84	3.25	-0.41
Sortino ratio: Return per unit of downside risk	3.54	3.29	+0.25
Omega ratio: Gain probability vs. loss probability	1.45	1.43	+0.02
Calmar ratio: Return relative to maximum drawdown	4.07	9.06	-4.99
Martin ratio: Return relative to average drawdown	13.17	22.27	-9.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTEC vs. GHM - Sharpe Ratio Comparison

The current QTEC Sharpe Ratio is 2.84, which is comparable to the GHM Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of QTEC and GHM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QTEC	GHM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	3.25	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	1.02	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.46	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.25	+0.35

Drawdowns

QTEC vs. GHM - Drawdown Comparison

The maximum QTEC drawdown since its inception was -58.86%, smaller than the maximum GHM drawdown of -86.11%. Use the drawdown chart below to compare losses from any high point for QTEC and GHM.

Drawdown Indicators

	QTEC	GHM	Difference
Max Drawdown Largest peak-to-trough decline	-58.86%	-86.11%	+27.25%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-18.21%	+2.18%
Max Drawdown (3Y) Largest decline over 3 years	-29.00%	-46.46%	+17.46%
Max Drawdown (5Y) Largest decline over 5 years	-45.54%	-54.28%	+8.74%
Max Drawdown (10Y) Largest decline over 10 years	-45.54%	-74.83%	+29.29%
Current Drawdown Current decline from peak	-1.08%	0.00%	-1.08%
Average Drawdown Average peak-to-trough decline	-9.89%	-47.41%	+37.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.94%	7.40%	-2.46%

Volatility

QTEC vs. GHM - Volatility Comparison

The current volatility for First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) is 7.51%, while Graham Corporation (GHM) has a volatility of 12.77%. This indicates that QTEC experiences smaller price fluctuations and is considered to be less risky than GHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTEC	GHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	12.77%	-5.26%
Volatility (6M) Calculated over the trailing 6-month period	18.24%	36.71%	-18.47%
Volatility (1Y) Calculated over the trailing 1-year period	22.97%	50.73%	-27.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.17%	48.97%	-19.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.50%	44.99%	-17.49%

Dividends

QTEC vs. GHM - Dividend Comparison

Neither QTEC nor GHM has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GHM Graham Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	3.54%	2.90%	1.92%	1.66%	1.72%	1.63%	1.90%
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	0.00%	0.00%	0.02%	0.14%	0.15%	0.02%	0.44%	0.68%	0.91%	0.80%	1.29%	0.99%

Frequently Asked Questions

Can I hold both QTEC and GHM in my portfolio?

QTEC and GHM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTEC or GHM?

GHM has higher volatility (12.77%) compared to QTEC (7.51%). In terms of maximum drawdown, QTEC dropped -58.86% vs GHM's -86.11%.

Which has better risk-adjusted returns?

GHM currently has the higher Sharpe Ratio (3.25 vs 2.84), 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.