QVML vs. QQQ

Last updated Jun 4, 2026

QVML (Invesco S&P 500 QVM Multi-factor ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - QVML is a Multi-factor fund tracking the S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 3 years, QVML returned 22.47%/yr vs 28.78%/yr for QQQ. Their correlation of 0.92 suggests significant overlap in exposure. QVML charges 0.11%/yr vs 0.18%/yr for QQQ.

Performance

QVML vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 QVM Multi-factor ETF (QVML) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QVML achieves a 11.17% return, which is significantly lower than QQQ's 21.30% return.

QVML

• 1D: -0.58%
• 1M: 5.12%
• YTD: 11.17%
• 6M: 11.48%
• 1Y: 27.60%
• 3Y*: 22.47%
• 5Y*: —
• 10Y*: —

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

QVML vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QVML Invesco S&P 500 QVM Multi-factor ETF	11.17%	17.74%	25.87%	22.19%	-16.25%	12.56%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	12.52%

Correlation

The correlation between QVML and QQQ is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.92

The correlation between QVML and QQQ has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

QVML vs. QQQ - Sectors Allocation Comparison

Sectors	QVML	QQQ
Technology	35.5%	53.8%
Financial Services	12.8%	0.2%
Communication Services	11.9%	15.8%
Healthcare	8.7%	4.2%
Industrials	8.7%	2.8%
Consumer Cyclical	7.3%	12.3%
Consumer Defensive	5.5%	7.7%
Energy	3.6%	0.6%
Utilities	2.5%	1.4%
Basic Materials	1.9%	1.1%
Real Estate	1.6%	0.1%

Return for Risk

QVML vs. QQQ — Risk / Return Rank

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

QVML

QVML Risk / Return Rank: 71
QVML Sharpe Ratio Rank: 72
QVML Sortino Ratio Rank: 72
QVML Omega Ratio Rank: 70
QVML Calmar Ratio Rank: 63
QVML Martin Ratio Rank: 77

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 71

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.

QVML vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 QVM Multi-factor ETF (QVML) and Invesco QQQ ETF (QQQ). 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.

	QVML	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.64	-0.26
Sortino ratio: Return per unit of downside risk	3.29	3.45	-0.15
Omega ratio: Gain probability vs. loss probability	1.43	1.45	-0.03
Calmar ratio: Return relative to maximum drawdown	3.18	3.51	-0.34
Martin ratio: Return relative to average drawdown	14.85	13.49	+1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QVML vs. QQQ - Sharpe Ratio Comparison

The current QVML Sharpe Ratio is 2.38, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of QVML and QQQ, 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

	QVML	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.64	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.81	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.41	+0.43

Drawdowns

QVML vs. QQQ - Drawdown Comparison

The maximum QVML drawdown since its inception was -23.52%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for QVML and QQQ.

Drawdown Indicators

	QVML	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-82.97%	+59.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-11.96%	+3.23%
Max Drawdown (3Y) Largest decline over 3 years	-18.71%	-22.77%	+4.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.58%	-0.26%	-0.32%
Average Drawdown Average peak-to-trough decline	-5.40%	-32.79%	+27.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	3.11%	-1.25%

Volatility

QVML vs. QQQ - Volatility Comparison

The current volatility for Invesco S&P 500 QVM Multi-factor ETF (QVML) is 2.91%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that QVML experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QVML	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	4.49%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	12.10%	-3.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	15.94%	-4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.59%	22.38%	-5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.59%	22.29%	-5.70%

QVML vs. QQQ - Expense Ratio Comparison

QVML has a 0.11% expense ratio, which is lower than QQQ's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QVML vs. QQQ - Dividend Comparison

QVML's dividend yield for the trailing twelve months is around 0.99%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
QVML Invesco S&P 500 QVM Multi-factor ETF	0.99%	1.10%	1.15%	1.43%	1.72%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QVML and QQQ in my portfolio?

With a correlation of 0.92, QVML and QQQ 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, QVML or QQQ?

QQQ has higher volatility (4.49%) compared to QVML (2.91%). In terms of maximum drawdown, QVML dropped -23.52% vs QQQ's -82.97%.

Which ETF is better, QVML or QQQ?

On 3-year performance, QQQ leads with 28.78% vs 22.47% for QVML. On fees, QVML is cheaper at 0.11% per year. On volatility, QVML has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVML or QQQ?

Over the 3-year period, QQQ has performed better with a 28.78% return vs 22.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVML or QQQ?

QVML is cheaper with a 0.11% expense ratio, compared with 0.18% for QQQ.

Which ETF pays a higher dividend yield, QVML or QQQ?

QVML has the higher dividend yield at 0.99%, compared with 0.38% for QQQ.

What is the main difference between QVML and QQQ?

QVML is categorized as Multi-factor, while QQQ is Nasdaq-100. QVML tracks S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.11% for QVML and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 2.38), 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.