UNP vs. QQQ

Last updated Jun 24, 2026

UNP (Union Pacific Corporation) is a stock, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, UNP returned 14.23%/yr vs 22.07%/yr for QQQ. At a 0.44 correlation, their price movements are largely independent.

Performance

UNP vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Union Pacific Corporation (UNP) 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, UNP achieves a 12.97% return, which is significantly lower than QQQ's 16.45% return. Over the past 10 years, UNP has underperformed QQQ with an annualized return of 14.23%, while QQQ has yielded a comparatively higher 22.07% annualized return.

UNP

• 1D: -0.50%
• 1M: -2.23%
• YTD: 12.97%
• 6M: 11.60%
• 1Y: 17.09%
• 3Y*: 11.44%
• 5Y*: 5.79%
• 10Y*: 14.23%

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

UNP vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UNP Union Pacific Corporation	12.97%	3.86%	-5.10%	21.61%	-15.93%	23.31%	17.64%	33.70%	5.26%	32.30%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between UNP and QQQ is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999	0.44

Over the past year, the correlation between UNP and QQQ has dropped to 0.09 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Return for Risk

UNP vs. QQQ — Risk / Return Rank

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

UNP

UNP Risk / Return Rank: 65
UNP Sharpe Ratio Rank: 67
UNP Sortino Ratio Rank: 61
UNP Omega Ratio Rank: 60
UNP Calmar Ratio Rank: 68
UNP Martin Ratio Rank: 69

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

UNP vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Union Pacific Corporation (UNP) 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.

	UNP	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.78	1.95	-1.17
Sortino ratio: Return per unit of downside risk	1.25	2.57	-1.31
Omega ratio: Gain probability vs. loss probability	1.16	1.35	-0.19
Calmar ratio: Return relative to maximum drawdown	1.40	2.93	-1.53
Martin ratio: Return relative to average drawdown	3.33	10.86	-7.54

UNP vs. QQQ - Sharpe Ratio Comparison

The current UNP Sharpe Ratio is 0.78, which is lower than the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of UNP 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

UNP vs. QQQ - Drawdown Comparison

The maximum UNP drawdown since its inception was -67.49%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for UNP and QQQ.

Drawdown Indicators

	UNP	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-67.49%	-82.97%	+15.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-11.96%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	-22.77%	+5.02%
Max Drawdown (5Y) Largest decline over 5 years	-31.83%	-35.12%	+3.29%
Max Drawdown (10Y) Largest decline over 10 years	-38.72%	-35.12%	-3.60%
Current Drawdown Current decline from peak	-6.96%	-4.25%	-2.71%
Average Drawdown Average peak-to-trough decline	-17.06%	-32.73%	+15.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.15%	3.22%	+1.93%

Volatility

UNP vs. QQQ - Volatility Comparison

Union Pacific Corporation (UNP) and Invesco QQQ ETF (QQQ) have volatilities of 8.74% and 9.17%, 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

	UNP	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.74%	9.17%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	17.69%	14.57%	+3.12%
Volatility (1Y) Calculated over the trailing 1-year period	21.94%	17.96%	+3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.87%	22.69%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.34%	22.42%	+2.92%

Dividends

UNP vs. QQQ - Dividend Comparison

UNP's dividend yield for the trailing twelve months is around 2.13%, more than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.43%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
UNP Union Pacific Corporation	2.13%	2.35%	2.32%	2.12%	2.45%	1.70%	1.86%	2.05%	2.21%	1.85%	2.17%	2.81%

Frequently Asked Questions

Can I hold both UNP and QQQ in my portfolio?

UNP and QQQ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UNP or QQQ?

QQQ has higher volatility (9.17%) compared to UNP (8.74%). In terms of maximum drawdown, UNP dropped -67.49% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.95 vs 0.78), 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.