RFV vs. QQQM

Last updated Jun 4, 2026

RFV (Invesco S&P MidCap 400® Pure Value ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - RFV is a Small Cap Value Equities fund tracking the S&P Mid Cap 400 Pure Value, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, RFV returned 10.00%/yr vs 18.07%/yr for QQQM. A 0.55 correlation means they provide meaningful diversification when combined. RFV charges 0.35%/yr vs 0.15%/yr for QQQM.

Performance

RFV vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® Pure Value ETF (RFV) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFV achieves a 13.04% return, which is significantly lower than QQQM's 21.39% return.

RFV

• 1D: -0.36%
• 1M: 3.75%
• YTD: 13.04%
• 6M: 10.71%
• 1Y: 25.06%
• 3Y*: 16.77%
• 5Y*: 10.00%
• 10Y*: 12.53%

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

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

RFV vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RFV Invesco S&P MidCap 400® Pure Value ETF	13.04%	7.66%	5.63%	30.26%	-3.99%	33.02%	23.54%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Correlation

The correlation between RFV and QQQM 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	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.55

The correlation between RFV and QQQM shifts across timeframes, from 0.44 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.

RFV vs. QQQM - Sectors Allocation Comparison

Sectors	RFV	QQQM
Consumer Cyclical	24.4%	12.3%
Financial Services	17.5%	0.2%
Energy	12.9%	0.6%
Technology	12.9%	53.8%
Industrials	11.4%	2.8%
Consumer Defensive	9.1%	7.7%
Basic Materials	7.6%	1.1%
Real Estate	3.5%	0.1%
Healthcare	0.7%	4.2%
Communication Services	-	15.8%
Utilities	-	1.4%

Return for Risk

RFV vs. QQQM — Risk / Return Rank

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

RFV

RFV Risk / Return Rank: 39
RFV Sharpe Ratio Rank: 38
RFV Sortino Ratio Rank: 42
RFV Omega Ratio Rank: 37
RFV Calmar Ratio Rank: 40
RFV Martin Ratio Rank: 38

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM 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.

RFV vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® Pure Value ETF (RFV) and Invesco NASDAQ 100 ETF (QQQM). 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.

	RFV	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.65	-1.26
Sortino ratio: Return per unit of downside risk	2.13	3.46	-1.33
Omega ratio: Gain probability vs. loss probability	1.25	1.45	-0.21
Calmar ratio: Return relative to maximum drawdown	2.01	3.53	-1.51
Martin ratio: Return relative to average drawdown	5.94	13.52	-7.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFV vs. QQQM - Sharpe Ratio Comparison

The current RFV Sharpe Ratio is 1.39, which is lower than the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of RFV and QQQM, 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

	RFV	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	2.65	-1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.82	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.85	-0.47

Drawdowns

RFV vs. QQQM - Drawdown Comparison

The maximum RFV drawdown since its inception was -71.82%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for RFV and QQQM.

Drawdown Indicators

	RFV	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-71.82%	-35.04%	-36.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.51%	-11.96%	-0.55%
Max Drawdown (3Y) Largest decline over 3 years	-24.65%	-22.70%	-1.95%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-35.04%	+10.39%
Max Drawdown (10Y) Largest decline over 10 years	-52.24%	—	—
Current Drawdown Current decline from peak	-0.36%	-0.20%	-0.16%
Average Drawdown Average peak-to-trough decline	-9.79%	-8.25%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	3.11%	+1.12%

Volatility

RFV vs. QQQM - Volatility Comparison

Invesco S&P MidCap 400® Pure Value ETF (RFV) and Invesco NASDAQ 100 ETF (QQQM) have volatilities of 4.60% and 4.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFV	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.48%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	12.05%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	15.91%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.08%	22.24%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.99%	22.12%	+2.87%

RFV vs. QQQM - Expense Ratio Comparison

RFV has a 0.35% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

RFV vs. QQQM - Dividend Comparison

RFV's dividend yield for the trailing twelve months is around 1.84%, more than QQQM's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%
RFV Invesco S&P MidCap 400® Pure Value ETF	1.84%	2.07%	1.31%	1.27%	2.05%	1.60%	1.52%	1.71%	1.39%	1.36%	0.88%	1.79%

Frequently Asked Questions

Can I hold both RFV and QQQM in my portfolio?

RFV and QQQM 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, RFV or QQQM?

RFV has higher volatility (4.60%) compared to QQQM (4.48%). In terms of maximum drawdown, RFV dropped -71.82% vs QQQM's -35.04%.

Which ETF is better, RFV or QQQM?

On 5-year performance, QQQM leads with 18.07% vs 10.00% for RFV. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RFV or QQQM?

Over the 5-year period, QQQM has performed better with a 18.07% return vs 10.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFV or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.35% for RFV.

Which ETF pays a higher dividend yield, RFV or QQQM?

RFV has the higher dividend yield at 1.84%, compared with 0.41% for QQQM.

What is the main difference between RFV and QQQM?

RFV is categorized as Small Cap Value Equities, while QQQM is Nasdaq-100. RFV tracks S&P Mid Cap 400 Pure Value, while QQQM tracks NASDAQ-100 Index. Their fees differ too: 0.35% for RFV and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 1.39), 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.