TOKE vs. QQQJ

Last updated Apr 1, 2026

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.

Performance

TOKE vs. QQQJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Cannabis ETF (TOKE) and Invesco NASDAQ Next Gen 100 ETF (QQQJ). The values are adjusted to include any dividend payments, if applicable.

TOKE vs. QQQJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TOKE Cambria Cannabis ETF	-17.05%	21.18%	-6.39%	-9.28%	-45.07%	-12.91%	20.43%
QQQJ Invesco NASDAQ Next Gen 100 ETF	-0.15%	20.44%	15.36%	13.68%	-28.25%	9.76%	15.25%

Returns By Period

In the year-to-date period, TOKE achieves a -17.05% return, which is significantly lower than QQQJ's -0.15% return.

TOKE

• 1D: 1.13%
• 1M: -12.35%
• YTD: -17.05%
• 6M: -20.63%
• 1Y: 14.63%
• 3Y*: -3.31%
• 5Y*: -22.09%
• 10Y*: —

QQQJ

• 1D: 1.46%
• 1M: -3.62%
• YTD: -0.15%
• 6M: 2.36%
• 1Y: 27.61%
• 3Y*: 13.86%
• 5Y*: 3.43%
• 10Y*: —

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

TOKE vs. QQQJ - Expense Ratio Comparison

TOKE has a 0.42% expense ratio, which is higher than QQQJ's 0.15% expense ratio.

TOKE

Cambria Cannabis ETF

QQQJ

Invesco NASDAQ Next Gen 100 ETF

Return for Risk

TOKE vs. QQQJ — Risk / Return Rank

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

TOKE

TOKE Risk / Return Rank: 26
TOKE Sharpe Ratio Rank: 22
TOKE Sortino Ratio Rank: 34
TOKE Omega Ratio Rank: 29
TOKE Calmar Ratio Rank: 24
TOKE Martin Ratio Rank: 20

QQQJ

QQQJ Risk / Return Rank: 71
QQQJ Sharpe Ratio Rank: 68
QQQJ Sortino Ratio Rank: 69
QQQJ Omega Ratio Rank: 66
QQQJ Calmar Ratio Rank: 75
QQQJ Martin Ratio Rank: 76

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.

TOKE vs. QQQJ - Risk-Adjusted Trends 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.

	TOKE	QQQJ	Difference
Sharpe ratio Return per unit of total volatility	0.34	1.24	-0.90
Sortino ratio Return per unit of downside risk	0.96	1.80	-0.84
Omega ratio Gain probability vs. loss probability	1.11	1.25	-0.14
Calmar ratio Return relative to maximum drawdown	0.53	2.06	-1.52
Martin ratio Return relative to average drawdown	1.18	8.43	-7.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOKE vs. QQQJ - Sharpe Ratio Comparison

The current TOKE Sharpe Ratio is 0.34, which is lower than the QQQJ Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of TOKE and QQQJ, 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

	TOKE	QQQJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	1.24	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.68	0.16	-0.84
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.31	-0.82

Correlation

The correlation between TOKE and QQQJ is 0.56, 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.

Dividends

TOKE vs. QQQJ - Dividend Comparison

TOKE's dividend yield for the trailing twelve months is around 1.10%, more than QQQJ's 0.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
TOKE Cambria Cannabis ETF	1.10%	0.91%	6.62%	4.20%	2.11%	3.54%	4.33%	2.26%
QQQJ Invesco NASDAQ Next Gen 100 ETF	0.88%	0.85%	0.77%	0.67%	0.76%	0.91%	0.09%	0.00%

Drawdowns

TOKE vs. QQQJ - Drawdown Comparison

The maximum TOKE drawdown since its inception was -83.27%, which is greater than QQQJ's maximum drawdown of -39.57%. Use the drawdown chart below to compare losses from any high point for TOKE and QQQJ.

Drawdown Indicators

	TOKE	QQQJ	Difference
Max Drawdown Largest peak-to-trough decline	-83.27%	-39.57%	-43.70%
Max Drawdown (1Y) Largest decline over 1 year	-26.30%	-13.54%	-12.76%
Max Drawdown (5Y) Largest decline over 5 years	-78.40%	-39.57%	-38.83%
Current Drawdown Current decline from peak	-77.76%	-6.66%	-71.10%
Average Drawdown Average peak-to-trough decline	-60.96%	-16.19%	-44.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.84%	3.30%	+8.54%

Volatility

TOKE vs. QQQJ - Volatility Comparison

Cambria Cannabis ETF (TOKE) and Invesco NASDAQ Next Gen 100 ETF (QQQJ) have volatilities of 8.52% and 8.53%, 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

	TOKE	QQQJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	8.53%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	30.83%	14.59%	+16.24%
Volatility (1Y) Calculated over the trailing 1-year period	43.72%	22.41%	+21.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	21.98%	+10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.01%	22.11%	+13.90%