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UGP vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UGP vs. QQQ

Last updated Jun 4, 2026

UGP (Ultrapar Participações S.A.) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, UGP returned -3.75%/yr vs 21.94%/yr for QQQ. At a 0.29 correlation, their price movements are largely independent.

Performance

UGP vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ultrapar Participações S.A. (UGP) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UGP achieves a 29.97% return, which is significantly higher than QQQ's 21.30% return. Over the past 10 years, UGP has underperformed QQQ with an annualized return of -3.75%, while QQQ has yielded a comparatively higher 21.94% annualized return.

UGP

1D
-4.11%
1M
-18.06%
YTD
29.97%
6M
21.54%
1Y
77.21%
3Y*
15.84%
5Y*
7.05%
10Y*
-3.75%

QQQ

1D
-0.26%
1M
10.60%
YTD
21.30%
6M
19.66%
1Y
41.82%
3Y*
28.78%
5Y*
17.97%
10Y*
21.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UGP vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UGP
Ultrapar Participações S.A.		29.97%57.18%-50.30%128.76%-4.60%-39.49%-26.69%-5.15%-38.91%12.39%
QQQ
Invesco QQQ ETF		21.30%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between UGP and QQQ is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (10Y)
Calculated over the trailing 10-year period

0.26

Correlation (All Time)
Calculated using the full available price history since Oct 8, 1999

0.29

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Ultrapar Participações S.A.

Invesco QQQ ETF

Often compared with UGP:
UGP vs. EPDUGP vs. GOOGLUGP vs. TENUGP vs. XMEUGP vs. SLB
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

UGP vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UGP
UGP Risk / Return Rank: 8787
Overall Rank
UGP Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
UGP Sortino Ratio Rank: 8585
Sortino Ratio Rank
UGP Omega Ratio Rank: 8383
Omega Ratio Rank
UGP Calmar Ratio Rank: 8787
Calmar Ratio Rank
UGP Martin Ratio Rank: 9090
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7373
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7575
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7474
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7171
Martin Ratio Rank
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.

UGP vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ultrapar Participações S.A. (UGP) 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.

UGPQQQDifference
Sharpe ratioReturn per unit of total volatility
2.14
2.64

-0.50

Sortino ratioReturn per unit of downside risk
2.71
3.45

-0.74

Omega ratioGain probability vs. loss probability

1.34

1.45

-0.11

Calmar ratioReturn relative to maximum drawdown

3.92

3.51

+0.41

Martin ratioReturn relative to average drawdown

12.87

13.49

-0.62

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UGP vs. QQQ - Sharpe Ratio Comparison

The current UGP Sharpe Ratio is 2.14, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of UGP 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.

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Sharpe Ratios by Period

UGPQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.14

2.64

-0.50

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.17

0.81

-0.64

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.08

0.99

-1.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.24

0.41

-0.17

Drawdowns

UGP vs. QQQ - Drawdown Comparison

The maximum UGP drawdown since its inception was -83.31%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for UGP and QQQ.

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Drawdown Indicators

UGPQQQDifference

Max Drawdown

Largest peak-to-trough decline

-83.31%

-82.97%

-0.34%

Max Drawdown (1Y)

Largest decline over 1 year

-19.80%

-11.96%

-7.84%

Max Drawdown (3Y)

Largest decline over 3 years

-58.58%

-22.77%

-35.81%

Max Drawdown (5Y)

Largest decline over 5 years

-58.58%

-35.12%

-23.46%

Max Drawdown (10Y)

Largest decline over 10 years

-83.31%

-35.12%

-48.19%

Current Drawdown

Current decline from peak

-50.06%

-0.26%

-49.80%

Average Drawdown

Average peak-to-trough decline

-29.70%

-32.79%

+3.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.02%

3.11%

+2.91%

Volatility

UGP vs. QQQ - Volatility Comparison

Ultrapar Participações S.A. (UGP) has a higher volatility of 10.41% compared to Invesco QQQ ETF (QQQ) at 4.49%. This indicates that UGP's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UGPQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.41%

4.49%

+5.92%

Volatility (6M)

Calculated over the trailing 6-month period

25.75%

12.10%

+13.65%

Volatility (1Y)

Calculated over the trailing 1-year period

36.52%

15.94%

+20.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

42.49%

22.38%

+20.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

48.00%

22.29%

+25.71%

Dividends

UGP vs. QQQ - Dividend Comparison

UGP's dividend yield for the trailing twelve months is around 4.96%, more than QQQ's 0.38% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
UGP
Ultrapar Participações S.A.		4.96%8.50%4.76%1.30%4.70%4.51%1.20%2.28%3.15%2.39%2.23%2.93%

Frequently Asked Questions

UGP and QQQ have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UGP has higher volatility (10.41%) compared to QQQ (4.49%). In terms of maximum drawdown, UGP dropped -83.31% vs QQQ's -82.97%.

QQQ currently has the higher Sharpe Ratio (2.64 vs 2.14), 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.

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