QXQ vs. QNXT

Last updated Jun 23, 2026

QXQ (SGI Enhanced Nasdaq-100 ETF) and QNXT (iShares Nasdaq-100 ex Top 30 ETF) are both Nasdaq-100 funds. QXQ is actively managed, while QNXT is passively managed. Over the past year, QXQ returned 42.59% vs 24.66% for QNXT. Their correlation of 0.83 suggests significant overlap in exposure. QXQ charges 0.98%/yr vs 0.20%/yr for QNXT.

Performance

QXQ vs. QNXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI Enhanced Nasdaq-100 ETF (QXQ) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QXQ achieves a 19.69% return, which is significantly higher than QNXT's 14.69% return.

QXQ

• 1D: -0.36%
• 1M: 2.66%
• YTD: 19.69%
• 6M: 19.23%
• 1Y: 42.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QNXT

• 1D: -0.46%
• 1M: 3.87%
• YTD: 14.69%
• 6M: 13.19%
• 1Y: 24.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QXQ vs. QNXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QXQ SGI Enhanced Nasdaq-100 ETF	19.69%	19.78%	5.26%
QNXT iShares Nasdaq-100 ex Top 30 ETF	14.69%	14.97%	-2.58%

Correlation

The correlation between QXQ and QNXT is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	0.83

The correlation between QXQ and QNXT has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

QXQ vs. QNXT - Sectors Allocation Comparison

Sectors	QXQ	QNXT
Technology	58.5%	45.3%
Communication Services	14.3%	9.1%
Consumer Cyclical	11.4%	15.1%
Consumer Defensive	6.4%	5.5%
Healthcare	3.7%	6.8%
Industrials	2.8%	9.7%
Utilities	1.2%	5.4%
Basic Materials	1.0%	-
Energy	0.5%	2.3%
Financial Services	0.2%	0.8%
Real Estate	0.1%	0.3%

Return for Risk

QXQ vs. QNXT — Risk / Return Rank

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

QXQ

QXQ Risk / Return Rank: 75
QXQ Sharpe Ratio Rank: 80
QXQ Sortino Ratio Rank: 74
QXQ Omega Ratio Rank: 74
QXQ Calmar Ratio Rank: 72
QXQ Martin Ratio Rank: 74

QNXT

QNXT Risk / Return Rank: 46
QNXT Sharpe Ratio Rank: 46
QNXT Sortino Ratio Rank: 45
QNXT Omega Ratio Rank: 43
QNXT Calmar Ratio Rank: 51
QNXT Martin Ratio Rank: 48

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.

QXQ vs. QNXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Nasdaq-100 ETF (QXQ) and iShares Nasdaq-100 ex Top 30 ETF (QNXT). 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.

	QXQ	QNXT	Difference
Sharpe ratio: Return per unit of total volatility	2.45	1.57	+0.88
Sortino ratio: Return per unit of downside risk	3.18	2.19	+0.98
Omega ratio: Gain probability vs. loss probability	1.42	1.27	+0.15
Calmar ratio: Return relative to maximum drawdown	3.51	2.44	+1.07
Martin ratio: Return relative to average drawdown	13.55	7.81	+5.74

QXQ vs. QNXT - Sharpe Ratio Comparison

The current QXQ Sharpe Ratio is 2.45, which is higher than the QNXT Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of QXQ and QNXT, 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

QXQ vs. QNXT - Drawdown Comparison

The maximum QXQ drawdown since its inception was -22.53%, roughly equal to the maximum QNXT drawdown of -22.25%. Use the drawdown chart below to compare losses from any high point for QXQ and QNXT.

Drawdown Indicators

	QXQ	QNXT	Difference
Max Drawdown Largest peak-to-trough decline	-22.53%	-22.25%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-10.16%	-2.04%
Current Drawdown Current decline from peak	-1.27%	-1.46%	+0.19%
Average Drawdown Average peak-to-trough decline	-3.61%	-3.74%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.16%	-0.01%

Volatility

QXQ vs. QNXT - Volatility Comparison

SGI Enhanced Nasdaq-100 ETF (QXQ) has a higher volatility of 7.99% compared to iShares Nasdaq-100 ex Top 30 ETF (QNXT) at 6.49%. This indicates that QXQ's price experiences larger fluctuations and is considered to be riskier than QNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QXQ	QNXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.99%	6.49%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	11.87%	+2.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.49%	15.83%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.07%	19.91%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.07%	19.91%	+2.16%

QXQ vs. QNXT - Expense Ratio Comparison

QXQ has a 0.98% expense ratio, which is higher than QNXT's 0.20% expense ratio.

Dividends

QXQ vs. QNXT - Dividend Comparison

QXQ's dividend yield for the trailing twelve months is around 14.96%, more than QNXT's 0.66% yield.

Position	TTM	2025	2024
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.66%	0.64%	0.22%
QXQ SGI Enhanced Nasdaq-100 ETF	14.96%	18.21%	1.97%

Frequently Asked Questions

Can I hold both QXQ and QNXT in my portfolio?

QXQ and QNXT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QXQ or QNXT?

QXQ has higher volatility (7.99%) compared to QNXT (6.49%). In terms of maximum drawdown, QXQ dropped -22.53% vs QNXT's -22.25%.

Which ETF is better, QXQ or QNXT?

On 1-year performance, QXQ leads with 42.59% vs 24.66% for QNXT. On fees, QNXT is cheaper at 0.20% per year. On volatility, QNXT has been the lower-risk option at 6.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QXQ or QNXT?

Over the 1-year period, QXQ has performed better with a 42.59% return vs 24.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QXQ or QNXT?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.98% for QXQ.

Which ETF pays a higher dividend yield, QXQ or QNXT?

QXQ has the higher dividend yield at 14.96%, compared with 0.66% for QNXT.

What is the main difference between QXQ and QNXT?

They also come from different issuers: Summit Global Investments and iShares. Their fees differ too: 0.98% for QXQ and 0.20% for QNXT.

Which has better risk-adjusted returns?

QXQ currently has the higher Sharpe Ratio (2.45 vs 1.57), 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.