TOPW vs. QQQ

Last updated Jun 23, 2026

TOPW (Roundhill Top WeeklyPay ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - TOPW is a Derivative Income fund tracking the Solactive Roundhill WeeklyPay Universe Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. TOPW charges 0.99%/yr vs 0.18%/yr for QQQ.

Performance

TOPW vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Top WeeklyPay ETF (TOPW) 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, TOPW achieves a -1.90% return, which is significantly lower than QQQ's 20.41% return.

TOPW

• 1D: -2.84%
• 1M: -8.90%
• YTD: -1.90%
• 6M: -4.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

TOPW vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025
TOPW Roundhill Top WeeklyPay ETF	-1.90%	-1.33%
QQQ Invesco QQQ ETF	20.41%	8.02%

Correlation

The correlation between TOPW and QQQ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025	0.84

Return for Risk

TOPW vs. QQQ — Risk / Return Rank

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

TOPW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
QQQ 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.

TOPW vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) 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.

	TOPW	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.33	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.44	—
Martin ratio: Return relative to average drawdown	—	12.79	—

Drawdowns

TOPW vs. QQQ - Drawdown Comparison

The maximum TOPW drawdown since its inception was -29.87%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for TOPW and QQQ.

Drawdown Indicators

	TOPW	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-29.87%	-82.97%	+53.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-18.04%	-0.99%	-17.05%
Average Drawdown Average peak-to-trough decline	-12.98%	-32.73%	+19.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.21%	—

Volatility

Volatility by Period

	TOPW	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.79%	17.67%	+10.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.79%	22.64%	+5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.79%	22.43%	+5.36%

TOPW vs. QQQ - Expense Ratio Comparison

TOPW has a 0.99% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

TOPW vs. QQQ - Dividend Comparison

TOPW's dividend yield for the trailing twelve months is around 46.15%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.49%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
TOPW Roundhill Top WeeklyPay ETF	46.15%	21.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOPW and QQQ in my portfolio?

TOPW and QQQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOPW or QQQ?

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOPW or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.99% for TOPW.

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

TOPW has the higher dividend yield at 46.15%, compared with 0.49% for QQQ.

What is the main difference between TOPW and QQQ?

TOPW is categorized as Derivative Income, while QQQ is Nasdaq-100. TOPW tracks Solactive Roundhill WeeklyPay Universe Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Roundhill Investments and Invesco. Their fees differ too: 0.99% for TOPW and 0.18% for QQQ.