TGRW vs. QQQ

Last updated Aug 2, 2026

TGRW (T. Rowe Price Growth Stock ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - TGRW is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. TGRW is actively managed, while QQQ is passively managed. Over the past 5 years, TGRW returned 6.77%/yr vs 14.23%/yr for QQQ. Their 0.96 correlation means they have historically moved very closely together. TGRW charges 0.52%/yr vs 0.18%/yr for QQQ.

Performance

TGRW vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth Stock ETF (TGRW) 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, TGRW achieves a -0.41% return, which is significantly lower than QQQ's 12.26% return.

TGRW

• 1D: 1.18%
• 1M: -2.97%
• 6M: 2.03%
• YTD: -0.41%
• 1Y: 8.07%
• 3Y*: 17.00%
• 5Y*: 6.77%
• 10Y*: —
• ALL TIME*: 10.68%

QQQ

• 1D: 0.65%
• 1M: -3.45%
• 6M: 10.89%
• YTD: 12.26%
• 1Y: 24.81%
• 3Y*: 22.29%
• 5Y*: 14.23%
• 10Y*: 20.44%
• ALL TIME*: 10.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQ Invesco QQQ ETF	$30.32B	$28.40B	$31.45B
TGRW T. Rowe Price Growth Stock ETF	$159.62K	$239.67K	$596.13K

TGRW vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TGRW T. Rowe Price Growth Stock ETF	-0.41%	15.62%	29.94%	48.87%	-38.42%	14.97%	16.40%
QQQ Invesco QQQ ETF	12.26%	20.77%	25.58%	54.86%	-32.58%	27.42%	16.42%

Correlation

The correlation between TGRW and QQQ is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Aug 5, 2020	0.96

The correlation between TGRW and QQQ has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

TGRW vs. QQQ - Sectors Allocation Comparison

Sectors	TGRW	QQQ
Technology	51.7%	60.9%
Communication Services	18.3%	13.1%
Industrials	8.3%	2.7%
Consumer Cyclical	8.3%	10.7%
Healthcare	6.5%	3.6%
Financial Services	5.5%	0.2%
Real Estate	0.6%	0.1%
Basic Materials	0.6%	1.0%
Consumer Defensive	0.2%	6.3%
Energy	-	0.5%
Utilities	-	1.1%

Return for Risk

TGRW vs. QQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TGRW

TGRW Risk / Return Rank: 17
TGRW Sharpe Ratio Rank: 18
TGRW Sortino Ratio Rank: 17
TGRW Omega Ratio Rank: 17
TGRW Calmar Ratio Rank: 16
TGRW Martin Ratio Rank: 17

QQQ

QQQ Risk / Return Rank: 49
QQQ Sharpe Ratio Rank: 47
QQQ Sortino Ratio Rank: 46
QQQ Omega Ratio Rank: 45
QQQ Calmar Ratio Rank: 53
QQQ Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TGRW vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Growth Stock ETF (TGRW) 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.

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.

	TGRW	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.30	1.16	-0.86
Sortino ratio: Return per unit of downside risk	0.55	1.65	-1.10
Omega ratio: Gain probability vs. loss probability	1.06	1.21	-0.14
Calmar ratio: Return relative to maximum drawdown	0.29	1.88	-1.58
Martin ratio: Return relative to average drawdown	0.86	6.00	-5.14

TGRW vs. QQQ - Sharpe Ratio Comparison

The current TGRW Sharpe Ratio is 0.30, which is lower than the QQQ Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of TGRW 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.

Drawdowns

TGRW vs. QQQ - Drawdown Comparison

The maximum TGRW drawdown since its inception was -43.33%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for TGRW and QQQ.

Drawdown Indicators

	TGRW	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-43.33%	-82.97%	+39.64%
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	-11.96%	-6.88%
Max Drawdown (3Y) Largest decline over 3 years	-23.18%	-22.77%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-43.33%	-35.12%	-8.21%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-7.58%	-7.69%	+0.11%
Average Drawdown Average peak-to-trough decline	-12.29%	-32.62%	+20.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.43%	3.74%	+2.69%

Volatility

TGRW vs. QQQ - Volatility Comparison

The current volatility for T. Rowe Price Growth Stock ETF (TGRW) is 5.82%, while Invesco QQQ ETF (QQQ) has a volatility of 6.87%. This indicates that TGRW 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

	TGRW	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	6.87%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	14.41%	16.08%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	19.38%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.49%	22.90%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	22.50%	+0.49%

TGRW vs. QQQ - Expense Ratio Comparison

TGRW has a 0.52% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

TGRW vs. QQQ - Dividend Comparison

TGRW has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.44%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
TGRW T. Rowe Price Growth Stock ETF	0.00%	0.00%	0.00%	0.01%	0.00%	0.40%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGRW and QQQ in my portfolio?

With a correlation of 0.92, TGRW 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, TGRW or QQQ?

QQQ has higher volatility (6.87%) compared to TGRW (5.82%). In terms of maximum drawdown, TGRW dropped -43.33% vs QQQ's -82.97%.

Which ETF is better, TGRW or QQQ?

On 5-year performance, QQQ leads with 14.23% vs 6.77% for TGRW. On fees, QQQ is cheaper at 0.18% per year. On volatility, TGRW has been the lower-risk option at 5.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TGRW or QQQ?

Over the 5-year period, QQQ has performed better with a 14.23% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGRW or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.52% for TGRW.

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

QQQ has the higher dividend yield at 0.44%, compared with 0.00% for TGRW.

What is the main difference between TGRW and QQQ?

TGRW is categorized as Large Cap Growth Equities, while QQQ is Nasdaq-100. They also come from different issuers: T. Rowe Price and Invesco. Their fees differ too: 0.52% for TGRW and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.16 vs 0.30), 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.