USNQX vs. IVNQX
USNQX (USAA Nasdaq 100 Index Fund) and IVNQX (Invesco Nasdaq 100 Index Fund) are both mutual funds - USNQX is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while IVNQX is a Large Cap Growth Equities fund managed by Invesco. Over the past 5 years, USNQX returned 16.67%/yr vs 17.00%/yr for IVNQX. With a 0.99 correlation, they move nearly in lockstep. USNQX charges 0.42%/yr vs 0.29%/yr for IVNQX.
Performance
USNQX vs. IVNQX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with USNQX having a 20.37% return and IVNQX slightly higher at 20.39%.
USNQX
- 1D
- -0.19%
- 1M
- 3.00%
- YTD
- 20.37%
- 6M
- 18.78%
- 1Y
- 39.22%
- 3Y*
- 27.25%
- 5Y*
- 16.67%
- 10Y*
- 22.17%
IVNQX
- 1D
- -0.19%
- 1M
- 2.97%
- YTD
- 20.39%
- 6M
- 18.80%
- 1Y
- 39.31%
- 3Y*
- 27.37%
- 5Y*
- 17.00%
- 10Y*
- —
USNQX vs. IVNQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
USNQX USAA Nasdaq 100 Index Fund | 20.37% | 20.52% | 25.42% | 54.46% | -32.71% | 26.82% | 7.61% |
IVNQX Invesco Nasdaq 100 Index Fund | 20.39% | 20.77% | 25.43% | 54.62% | -32.05% | 26.75% | 8.46% |
Correlation
The correlation between USNQX and IVNQX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.99 |
The correlation between USNQX and IVNQX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
USNQX vs. IVNQX — Risk / Return Rank
USNQX
IVNQX
USNQX vs. IVNQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Nasdaq 100 Index Fund (USNQX) and Invesco Nasdaq 100 Index Fund (IVNQX). 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.
| USNQX | IVNQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.40 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 3.45 | -0.06 |
| Martin ratioReturn relative to average drawdown | 12.56 | 12.82 | -0.26 |
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Drawdowns
USNQX vs. IVNQX - Drawdown Comparison
The maximum USNQX drawdown since its inception was -76.24%, which is greater than IVNQX's maximum drawdown of -34.83%. Use the drawdown chart below to compare losses from any high point for USNQX and IVNQX.
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Drawdown Indicators
| USNQX | IVNQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -34.83% | -41.41% |
Max Drawdown (1Y)Largest decline over 1 year | -12.07% | -11.95% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -22.88% | -22.70% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | -34.83% | -2.12% |
Max Drawdown (10Y)Largest decline over 10 years | -36.95% | — | — |
Current DrawdownCurrent decline from peak | -0.97% | -0.97% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -26.70% | -8.18% | -18.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.20% | +0.05% |
Volatility
USNQX vs. IVNQX - Volatility Comparison
USAA Nasdaq 100 Index Fund (USNQX) and Invesco Nasdaq 100 Index Fund (IVNQX) have volatilities of 8.38% and 8.33%, 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.
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Volatility by Period
| USNQX | IVNQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 8.33% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 14.32% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.75% | 17.74% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.14% | 22.74% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.79% | 22.55% | +0.24% |
USNQX vs. IVNQX - Expense Ratio Comparison
USNQX has a 0.42% expense ratio, which is higher than IVNQX's 0.29% expense ratio.
Dividends
USNQX vs. IVNQX - Dividend Comparison
USNQX's dividend yield for the trailing twelve months is around 2.50%, more than IVNQX's 1.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVNQX Invesco Nasdaq 100 Index Fund | 1.09% | 1.31% | 0.72% | 0.54% | 0.73% | 0.84% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USNQX USAA Nasdaq 100 Index Fund | 2.50% | 3.01% | 2.19% | 2.60% | 4.13% | 4.48% | 1.53% | 0.88% | 0.69% | 1.97% | 0.50% | 2.73% |
Frequently Asked Questions
With a correlation of 1.00, USNQX and IVNQX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
USNQX has higher volatility (8.38%) compared to IVNQX (8.33%). In terms of maximum drawdown, USNQX dropped -76.24% vs IVNQX's -34.83%.
IVNQX currently has the higher Sharpe Ratio (2.32 vs 2.31), 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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