USD=X vs. QQQ

Last updated Apr 3, 2026

Compare and contrast key facts about USD Cash (USD=X) and Invesco QQQ ETF (QQQ).

QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.

Performance

USD=X vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

USD=X vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	-4.65%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Returns By Period

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

QQQ

• 1D: 0.11%
• 1M: -2.64%
• YTD: -4.65%
• 6M: -3.18%
• 1Y: 23.45%
• 3Y*: 22.97%
• 5Y*: 13.18%
• 10Y*: 19.05%

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

Return for Risk

USD=X vs. QQQ — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 54
QQQ Sortino Ratio Rank: 59
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 65
QQQ Martin Ratio Rank: 61

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.

USD=X vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

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

Sharpe Ratios by Period

	USD=X	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.38	—

Drawdowns

USD=X vs. QQQ - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for USD=X and QQQ.

Drawdown Indicators

	USD=X	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-82.97%	+82.97%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-11.96%	+11.96%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	-35.12%	+35.12%
Max Drawdown (10Y) Largest decline over 10 years	0.00%	-35.12%	+35.12%
Current Drawdown Current decline from peak	0.00%	-7.75%	+7.75%
Average Drawdown Average peak-to-trough decline	0.00%	-32.98%	+32.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	3.48%	-3.48%

Volatility

USD=X vs. QQQ - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Invesco QQQ ETF (QQQ) has a volatility of 6.38%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD=X	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	6.38%	-6.38%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	12.82%	-12.82%
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	22.69%	-22.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	22.37%	-22.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	22.24%	-22.24%