VADAX vs. QQQ

Last updated Jun 3, 2026

VADAX (Invesco Equally-Weighted S&P 500 Fund Class A) and QQQ (Invesco QQQ ETF) are both funds - VADAX is a Large Cap Blend Equities fund managed by Invesco, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, VADAX returned 11.37%/yr vs 21.97%/yr for QQQ. A 0.77 correlation means they provide meaningful diversification when combined. VADAX charges 0.52%/yr vs 0.18%/yr for QQQ.

Performance

VADAX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) 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, VADAX achieves a 9.56% return, which is significantly lower than QQQ's 21.62% return. Over the past 10 years, VADAX has underperformed QQQ with an annualized return of 11.37%, while QQQ has yielded a comparatively higher 21.97% annualized return.

VADAX

• 1D: 0.23%
• 1M: 3.14%
• YTD: 9.56%
• 6M: 10.83%
• 1Y: 20.11%
• 3Y*: 14.85%
• 5Y*: 8.03%
• 10Y*: 11.37%

QQQ

• 1D: 0.46%
• 1M: 10.68%
• YTD: 21.62%
• 6M: 20.27%
• 1Y: 43.30%
• 3Y*: 28.89%
• 5Y*: 18.43%
• 10Y*: 21.97%

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

VADAX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.56%	10.89%	12.40%	13.29%	-12.07%	28.93%	12.30%	28.59%	-8.19%	18.26%
QQQ Invesco QQQ ETF	21.62%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between VADAX and QQQ is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 11, 1999	0.77

The correlation between VADAX and QQQ shifts across timeframes, from 0.58 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VADAX vs. QQQ — Risk / Return Rank

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

VADAX

VADAX Risk / Return Rank: 39
VADAX Sharpe Ratio Rank: 35
VADAX Sortino Ratio Rank: 37
VADAX Omega Ratio Rank: 33
VADAX Calmar Ratio Rank: 45
VADAX Martin Ratio Rank: 47

QQQ

QQQ Risk / Return Rank: 77
QQQ Sharpe Ratio Rank: 83
QQQ Sortino Ratio Rank: 78
QQQ Omega Ratio Rank: 77
QQQ Calmar Ratio Rank: 73
QQQ Martin Ratio Rank: 74

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.

VADAX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) 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.

	VADAX	QQQ	Difference
Sharpe ratio Return per unit of total volatility	1.75	2.73	-0.98
Sortino ratio Return per unit of downside risk	2.54	3.55	-1.01
Omega ratio Gain probability vs. loss probability	1.31	1.47	-0.16
Calmar ratio Return relative to maximum drawdown	2.60	3.71	-1.11
Martin ratio Return relative to average drawdown	9.86	14.30	-4.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VADAX vs. QQQ - Sharpe Ratio Comparison

The current VADAX Sharpe Ratio is 1.75, which is lower than the QQQ Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of VADAX 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.

Sharpe Ratios by Period

	VADAX	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	2.73	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.83	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.99	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.41	+0.05

Drawdowns

VADAX vs. QQQ - Drawdown Comparison

The maximum VADAX drawdown since its inception was -60.27%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for VADAX and QQQ.

Drawdown Indicators

	VADAX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-60.27%	-82.97%	+22.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-11.96%	+4.07%
Max Drawdown (3Y) Largest decline over 3 years	-17.92%	-22.77%	+4.85%
Max Drawdown (5Y) Largest decline over 5 years	-21.74%	-35.12%	+13.38%
Max Drawdown (10Y) Largest decline over 10 years	-39.32%	-35.12%	-4.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.10%	-32.79%	+25.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	3.11%	-1.03%

Volatility

VADAX vs. QQQ - Volatility Comparison

The current volatility for Invesco Equally-Weighted S&P 500 Fund Class A (VADAX) is 2.68%, while Invesco QQQ ETF (QQQ) has a volatility of 4.48%. This indicates that VADAX 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

	VADAX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	4.48%	-1.80%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	12.11%	-3.71%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	15.95%	-4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	22.39%	-6.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	22.30%	-3.77%

VADAX vs. QQQ - Expense Ratio Comparison

VADAX has a 0.52% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

VADAX vs. QQQ - Dividend Comparison

VADAX's dividend yield for the trailing twelve months is around 9.32%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VADAX Invesco Equally-Weighted S&P 500 Fund Class A	9.32%	10.21%	8.77%	4.69%	8.49%	9.80%	6.21%	4.49%	6.90%	2.76%	0.30%	2.77%

Frequently Asked Questions

Can I hold both VADAX and QQQ in my portfolio?

VADAX and QQQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VADAX or QQQ?

QQQ has higher volatility (4.48%) compared to VADAX (2.68%). In terms of maximum drawdown, VADAX dropped -60.27% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.73 vs 1.75), 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.