TECX vs. QQQM

Last updated Apr 2, 2026

Compare and contrast key facts about Tectonic Therapeutic, Inc (TECX) and Invesco NASDAQ 100 ETF (QQQM).

QQQM is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Oct 13, 2020.

Performance

TECX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tectonic Therapeutic, Inc (TECX) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

TECX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TECX Tectonic Therapeutic, Inc	47.56%	-54.82%	182.90%	90.77%	-81.48%	-72.38%	-12.05%
QQQM Invesco NASDAQ 100 ETF	-4.75%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Returns By Period

In the year-to-date period, TECX achieves a 47.56% return, which is significantly higher than QQQM's -4.75% return.

TECX

• 1D: -0.42%
• 1M: 33.83%
• YTD: 47.56%
• 6M: 96.55%
• 1Y: 82.78%
• 3Y*: 36.89%
• 5Y*: -26.93%
• 10Y*: —

QQQM

• 1D: 1.24%
• 1M: -3.78%
• YTD: -4.75%
• 6M: -2.87%
• 1Y: 24.28%
• 3Y*: 22.91%
• 5Y*: 13.24%
• 10Y*: —

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

Return for Risk

TECX vs. QQQM — Risk / Return Rank

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

TECX

TECX Risk / Return Rank: 71
TECX Sharpe Ratio Rank: 72
TECX Sortino Ratio Rank: 72
TECX Omega Ratio Rank: 71
TECX Calmar Ratio Rank: 72
TECX Martin Ratio Rank: 68

QQQM

QQQM Risk / Return Rank: 66
QQQM Sharpe Ratio Rank: 59
QQQM Sortino Ratio Rank: 63
QQQM Omega Ratio Rank: 63
QQQM Calmar Ratio Rank: 75
QQQM Martin Ratio Rank: 69

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.

TECX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tectonic Therapeutic, Inc (TECX) 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.

	TECX	QQQM	Difference
Sharpe ratio Return per unit of total volatility	0.95	1.09	-0.14
Sortino ratio Return per unit of downside risk	1.75	1.68	+0.08
Omega ratio Gain probability vs. loss probability	1.23	1.24	-0.01
Calmar ratio Return relative to maximum drawdown	1.65	2.02	-0.36
Martin ratio Return relative to average drawdown	3.29	7.35	-4.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECX vs. QQQM - Sharpe Ratio Comparison

The current TECX Sharpe Ratio is 0.95, which is comparable to the QQQM Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of TECX and QQQM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TECX	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	1.09	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	0.60	-0.85
Sharpe Ratio (All Time) Calculated using the full available price history	-0.27	0.64	-0.90

Correlation

The correlation between TECX and QQQM is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TECX vs. QQQM - Dividend Comparison

TECX has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.53%.

	TTM	2025	2024	2023	2022	2021	2020
TECX Tectonic Therapeutic, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.53%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Drawdowns

TECX vs. QQQM - Drawdown Comparison

The maximum TECX drawdown since its inception was -98.90%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for TECX and QQQM.

Drawdown Indicators

	TECX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-98.90%	-35.04%	-63.86%
Max Drawdown (1Y) Largest decline over 1 year	-44.62%	-12.55%	-32.07%
Max Drawdown (5Y) Largest decline over 5 years	-95.41%	-35.04%	-60.37%
Current Drawdown Current decline from peak	-95.13%	-7.86%	-87.27%
Average Drawdown Average peak-to-trough decline	-83.05%	-8.47%	-74.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.46%	3.44%	+19.02%

Volatility

TECX vs. QQQM - Volatility Comparison

Tectonic Therapeutic, Inc (TECX) has a higher volatility of 31.66% compared to Invesco NASDAQ 100 ETF (QQQM) at 6.58%. This indicates that TECX's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.66%	6.58%	+25.08%
Volatility (6M) Calculated over the trailing 6-month period	57.34%	12.79%	+44.55%
Volatility (1Y) Calculated over the trailing 1-year period	87.79%	22.45%	+65.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.96%	22.24%	+86.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	103.40%	22.26%	+81.14%