TOKE vs. QQQJ
Compare and contrast key facts about Cambria Cannabis ETF (TOKE) and Invesco NASDAQ Next Gen 100 ETF (QQQJ).
TOKE and QQQJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TOKE is an actively managed fund by Cambria. It was launched on Jul 25, 2019. QQQJ is a passively managed fund by Invesco that tracks the performance of the NASDAQ Next Generation 100 Index. It was launched on Oct 13, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TOKE or QQQJ.
Key characteristics
| TOKE | QQQJ | |
|---|---|---|
| YTD Return | 11.01% | 1.21% |
| 1Y Return | 9.81% | 11.79% |
| 3Y Return (Ann) | -27.77% | -5.03% |
| Sharpe Ratio | 0.36 | 0.78 |
| Daily Std Dev | 26.59% | 15.14% |
| Max Drawdown | -79.46% | -39.58% |
| Current Drawdown | -73.76% | -22.97% |
Correlation
The correlation between TOKE and QQQJ is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
TOKE vs. QQQJ - Performance Comparison
In the year-to-date period, TOKE achieves a 11.01% return, which is significantly higher than QQQJ's 1.21% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TOKE vs. QQQJ - Expense Ratio Comparison
TOKE has a 0.42% expense ratio, which is higher than QQQJ's 0.15% expense ratio.
Risk-Adjusted Performance
TOKE vs. QQQJ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Cannabis ETF (TOKE) and Invesco NASDAQ Next Gen 100 ETF (QQQJ). 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.
Dividends
TOKE vs. QQQJ - Dividend Comparison
TOKE's dividend yield for the trailing twelve months is around 3.60%, more than QQQJ's 0.73% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
TOKE Cambria Cannabis ETF | 3.60% | 4.20% | 2.11% | 3.54% | 4.33% | 2.21% |
QQQJ Invesco NASDAQ Next Gen 100 ETF | 0.73% | 0.67% | 0.76% | 0.91% | 0.09% | 0.00% |
Drawdowns
TOKE vs. QQQJ - Drawdown Comparison
The maximum TOKE drawdown since its inception was -79.46%, which is greater than QQQJ's maximum drawdown of -39.58%. Use the drawdown chart below to compare losses from any high point for TOKE and QQQJ. For additional features, visit the drawdowns tool.
Volatility
TOKE vs. QQQJ - Volatility Comparison
Cambria Cannabis ETF (TOKE) has a higher volatility of 16.35% compared to Invesco NASDAQ Next Gen 100 ETF (QQQJ) at 4.80%. This indicates that TOKE's price experiences larger fluctuations and is considered to be riskier than QQQJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.