REBYX vs. QQQI

Last updated Jun 3, 2026

REBYX (Russell Investments U.S. Small Cap Equity Fund) and QQQI (NEOS Nasdaq-100 High Income ETF) are both funds - REBYX is a Small Cap Blend Equities fund managed by Russell, while QQQI is a Nasdaq-100 fund actively managed by Neos. Over the past year, REBYX returned 37.97% vs 31.46% for QQQI. A 0.64 correlation means they provide meaningful diversification when combined. REBYX charges 0.90%/yr vs 0.68%/yr for QQQI.

Performance

REBYX vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments U.S. Small Cap Equity Fund (REBYX) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REBYX achieves a 16.68% return, which is significantly higher than QQQI's 13.63% return.

REBYX

• 1D: -0.17%
• 1M: 2.65%
• YTD: 16.68%
• 6M: 18.32%
• 1Y: 37.97%
• 3Y*: 14.94%
• 5Y*: 6.12%
• 10Y*: 9.31%

QQQI

• 1D: 0.38%
• 1M: 6.99%
• YTD: 13.63%
• 6M: 13.39%
• 1Y: 31.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

REBYX vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
REBYX Russell Investments U.S. Small Cap Equity Fund	16.68%	8.86%	8.74%
QQQI NEOS Nasdaq-100 High Income ETF	13.63%	18.62%	19.83%

Correlation

The correlation between REBYX and QQQI is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Jan 31, 2024	0.64

The correlation between REBYX and QQQI has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

REBYX vs. QQQI — Risk / Return Rank

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

REBYX

REBYX Risk / Return Rank: 62
REBYX Sharpe Ratio Rank: 52
REBYX Sortino Ratio Rank: 52
REBYX Omega Ratio Rank: 46
REBYX Calmar Ratio Rank: 86
REBYX Martin Ratio Rank: 74

QQQI

QQQI Risk / Return Rank: 72
QQQI Sharpe Ratio Rank: 74
QQQI Sortino Ratio Rank: 69
QQQI Omega Ratio Rank: 74
QQQI Calmar Ratio Rank: 67
QQQI Martin Ratio Rank: 77

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.

REBYX vs. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments U.S. Small Cap Equity Fund (REBYX) and NEOS Nasdaq-100 High Income ETF (QQQI). 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.

	REBYX	QQQI	Difference
Sharpe ratio Return per unit of total volatility	2.14	2.44	-0.30
Sortino ratio Return per unit of downside risk	3.05	3.21	-0.16
Omega ratio Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio Return relative to maximum drawdown	4.07	3.34	+0.73
Martin ratio Return relative to average drawdown	14.08	15.01	-0.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REBYX vs. QQQI - Sharpe Ratio Comparison

The current REBYX Sharpe Ratio is 2.14, which is comparable to the QQQI Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of REBYX and QQQI, 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

	REBYX	QQQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.44	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	1.34	-1.01

Drawdowns

REBYX vs. QQQI - Drawdown Comparison

The maximum REBYX drawdown since its inception was -62.03%, which is greater than QQQI's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for REBYX and QQQI.

Drawdown Indicators

	REBYX	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-62.03%	-20.00%	-42.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-9.61%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-32.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.79%	—	—
Current Drawdown Current decline from peak	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-11.18%	-2.20%	-8.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.14%	+0.51%

Volatility

REBYX vs. QQQI - Volatility Comparison

Russell Investments U.S. Small Cap Equity Fund (REBYX) has a higher volatility of 5.06% compared to NEOS Nasdaq-100 High Income ETF (QQQI) at 2.67%. This indicates that REBYX's price experiences larger fluctuations and is considered to be riskier than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REBYX	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	2.67%	+2.39%
Volatility (6M) Calculated over the trailing 6-month period	12.42%	9.85%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	17.87%	12.98%	+4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.77%	17.08%	+5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.53%	17.08%	+6.45%

REBYX vs. QQQI - Expense Ratio Comparison

REBYX has a 0.90% expense ratio, which is higher than QQQI's 0.68% expense ratio.

Dividends

REBYX vs. QQQI - Dividend Comparison

REBYX's dividend yield for the trailing twelve months is around 7.10%, less than QQQI's 13.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQI NEOS Nasdaq-100 High Income ETF	13.17%	13.82%	12.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
REBYX Russell Investments U.S. Small Cap Equity Fund	7.10%	8.28%	13.03%	2.64%	5.30%	31.12%	0.64%	4.46%	18.61%	0.33%	0.88%	8.23%

Frequently Asked Questions

Can I hold both REBYX and QQQI in my portfolio?

REBYX and QQQI have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REBYX or QQQI?

REBYX has higher volatility (5.06%) compared to QQQI (2.67%). In terms of maximum drawdown, REBYX dropped -62.03% vs QQQI's -20.00%.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (2.44 vs 2.14), 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.