PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
USML.L vs. EQQQ.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USML.L vs. EQQQ.L

Last updated Jun 5, 2026

USML.L (Invesco S&P SmallCap 600 UCITS ETF A) and EQQQ.L (Invesco EQQQ NASDAQ-100 UCITS ETF) are both exchange-traded funds - USML.L is a Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while EQQQ.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, USML.L returned 5.94%/yr vs 17.62%/yr for EQQQ.L. A 0.57 correlation means they provide meaningful diversification when combined. USML.L charges 0.14%/yr vs 0.30%/yr for EQQQ.L.

Performance

USML.L vs. EQQQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600 UCITS ETF A (USML.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

USML.L is traded in USD, while EQQQ.L is traded in GBp. To make them comparable, the EQQQ.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, USML.L achieves a 15.40% return, which is significantly lower than EQQQ.L's 19.56% return.

USML.L

1D
1.05%
1M
1.79%
YTD
15.40%
6M
15.62%
1Y
33.26%
3Y*
15.56%
5Y*
5.94%
10Y*
—

EQQQ.L

1D
-0.58%
1M
8.70%
YTD
19.56%
6M
19.25%
1Y
40.27%
3Y*
27.86%
5Y*
17.62%
10Y*
21.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USML.L vs. EQQQ.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
USML.L
Invesco S&P SmallCap 600 UCITS ETF A		15.40%6.56%7.78%17.52%-15.95%26.49%11.11%5.73%
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		19.56%19.96%26.41%55.59%-33.50%28.41%47.71%24.47%

Correlation

The correlation between USML.L and EQQQ.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.54

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

0.51

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

0.59

Correlation (All Time)
Calculated using the full available price history since Feb 19, 2019

0.57

The correlation between USML.L and EQQQ.L has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

USML.L vs. EQQQ.L - Sectors Allocation Comparison

Sectors
USML.L
EQQQ.L

Financial Services

16.9%
0.2%

Industrials

15.5%
2.8%

Technology

15.5%
57.9%

Consumer Cyclical

13.4%
11.6%

Healthcare

11.0%
3.7%

Real Estate

7.7%
0.0%

Energy

5.9%
0.5%

Basic Materials

5.1%
1.0%

Communication Services

3.6%
14.5%

Consumer Defensive

3.5%
6.6%

Utilities

2.0%
1.2%

Financial Services

USML.L
16.9%
EQQQ.L
0.2%

Industrials

USML.L
15.5%
EQQQ.L
2.8%

Technology

USML.L
15.5%
EQQQ.L
57.9%

Consumer Cyclical

USML.L
13.4%
EQQQ.L
11.6%

Healthcare

USML.L
11.0%
EQQQ.L
3.7%

Real Estate

USML.L
7.7%
EQQQ.L
0.0%

Energy

USML.L
5.9%
EQQQ.L
0.5%

Basic Materials

USML.L
5.1%
EQQQ.L
1.0%

Communication Services

USML.L
3.6%
EQQQ.L
14.5%

Consumer Defensive

USML.L
3.5%
EQQQ.L
6.6%

Utilities

USML.L
2.0%
EQQQ.L
1.2%

Compare stocks, funds, or ETFs

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

Invesco S&P SmallCap 600 UCITS ETF A

Invesco EQQQ NASDAQ-100 UCITS ETF

Often compared with USML.L:
USML.L vs. IGSU.LUSML.L vs. IJRUSML.L vs. SPSMUSML.L vs. VIOOUSML.L vs. SLYVUSML.L vs. VWRA.LUSML.L vs. DFSV
Often compared with EQQQ.L:
EQQQ.L vs. QQQEQQQ.L vs. QQQMEQQQ.L vs. EQGB.LEQQQ.L vs. CNX1.LEQQQ.L vs. EQQU.LEQQQ.L vs. CSPX.LEQQQ.L vs. XNAQ.L

Return for Risk

USML.L vs. EQQQ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USML.L
USML.L Risk / Return Rank: 6464
Overall Rank
USML.L Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
USML.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
USML.L Omega Ratio Rank: 5656
Omega Ratio Rank
USML.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
USML.L Martin Ratio Rank: 6666
Martin Ratio Rank
EQQQ.L
EQQQ.L Risk / Return Rank: 7878
Overall Rank
EQQQ.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
EQQQ.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
EQQQ.L Omega Ratio Rank: 8383
Omega Ratio Rank
EQQQ.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
EQQQ.L Martin Ratio Rank: 6363
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.

USML.L vs. EQQQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 UCITS ETF A (USML.L) and Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L). 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.

USML.LEQQQ.LDifference
Sharpe ratioReturn per unit of total volatility
1.95
2.61

-0.66

Sortino ratioReturn per unit of downside risk
2.93
3.59

-0.66

Omega ratioGain probability vs. loss probability

1.34

1.44

-0.10

Calmar ratioReturn relative to maximum drawdown

3.82

3.64

+0.18

Martin ratioReturn relative to average drawdown

11.96

13.38

-1.42

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

USML.L vs. EQQQ.L - Sharpe Ratio Comparison

The current USML.L Sharpe Ratio is 1.95, which is comparable to the EQQQ.L Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of USML.L and EQQQ.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

USML.LEQQQ.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.95

2.61

-0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

0.86

-0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.08

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.81

-0.41

Drawdowns

USML.L vs. EQQQ.L - Drawdown Comparison

The maximum USML.L drawdown since its inception was -42.69%, smaller than the maximum EQQQ.L drawdown of -50.98%. Use the drawdown chart below to compare losses from any high point for USML.L and EQQQ.L.

Loading charts...

Drawdown Indicators

USML.LEQQQ.LDifference

Max Drawdown

Largest peak-to-trough decline

-42.69%

-50.98%

+8.29%

Max Drawdown (1Y)

Largest decline over 1 year

-8.67%

-11.03%

+2.36%

Max Drawdown (3Y)

Largest decline over 3 years

-29.02%

-22.63%

-6.39%

Max Drawdown (5Y)

Largest decline over 5 years

-29.02%

-35.27%

+6.25%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.27%

—

Current Drawdown

Current decline from peak

0.00%

-0.75%

+0.75%

Average Drawdown

Average peak-to-trough decline

-9.90%

-7.06%

-2.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

3.00%

-0.23%

Volatility

USML.L vs. EQQQ.L - Volatility Comparison

Invesco S&P SmallCap 600 UCITS ETF A (USML.L) has a higher volatility of 4.88% compared to Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) at 4.34%. This indicates that USML.L's price experiences larger fluctuations and is considered to be riskier than EQQQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

USML.LEQQQ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.88%

4.34%

+0.54%

Volatility (6M)

Calculated over the trailing 6-month period

11.53%

11.19%

+0.34%

Volatility (1Y)

Calculated over the trailing 1-year period

16.94%

15.34%

+1.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.17%

20.50%

+0.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.82%

19.85%

+3.97%

USML.L vs. EQQQ.L - Expense Ratio Comparison

USML.L has a 0.14% expense ratio, which is lower than EQQQ.L's 0.30% expense ratio.

Dividends

USML.L vs. EQQQ.L - Dividend Comparison

USML.L has not paid dividends to shareholders, while EQQQ.L's dividend yield for the trailing twelve months is around 0.23%.

PositionTTM20252024202320222021202020192018201720162015
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		0.23%0.29%0.38%0.39%0.56%0.25%0.41%0.56%0.63%0.67%0.77%0.72%
USML.L
Invesco S&P SmallCap 600 UCITS ETF A		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

USML.L and EQQQ.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, USML.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

USML.L is cheaper with a 0.14% expense ratio, compared with 0.30% for EQQQ.L.

USML.L is categorized as Small Cap Blend Equities, while EQQQ.L is Nasdaq-100. USML.L tracks Russell 2000 TR USD, while EQQQ.L tracks NASDAQ-100 Index. Their fees differ too: 0.14% for USML.L and 0.30% for EQQQ.L.

Portfolio Optimizer

Find the right allocation for USML.L and EQQQ.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer