VAS.AX vs. QQQM

Last updated Jul 16, 2026

VAS.AX (Vanguard Australian Shares Index ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - VAS.AX is a Australia Equities fund tracking the S&P/ASX 300 Index, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, VAS.AX returned 6.75%/yr vs 17.12%/yr for QQQM. At a 0.03 correlation, their price movements are largely independent. VAS.AX charges 0.07%/yr vs 0.15%/yr for QQQM.

Performance

VAS.AX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Australian Shares Index ETF (VAS.AX) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VAS.AX is traded in AUD, while QQQM is traded in USD. To make them comparable, the QQQM values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VAS.AX achieves a 1.86% return, which is significantly lower than QQQM's 12.18% return.

VAS.AX

• 1D: 0.13%
• 1M: -0.77%
• 6M: 1.35%
• YTD: 1.86%
• 1Y: 4.90%
• 3Y*: 9.38%
• 5Y*: 6.75%
• 10Y*: 8.30%

QQQM

• 1D: 0.00%
• 1M: -1.96%
• 6M: 11.38%
• YTD: 12.18%
• 1Y: 21.13%
• 3Y*: 23.72%
• 5Y*: 17.12%
• 10Y*: —

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

VAS.AX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VAS.AX Vanguard Australian Shares Index ETF	1.86%	10.66%	9.60%	11.05%	-2.40%	17.39%	8.06%
QQQM Invesco NASDAQ 100 ETF	11.81%	12.08%	38.33%	55.13%	-28.06%	34.92%	-0.77%

Correlation

The correlation between VAS.AX and QQQM is 0.02, 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.03

Return for Risk

VAS.AX vs. QQQM — Risk / Return Rank

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

VAS.AX

VAS.AX Risk / Return Rank: 17
VAS.AX Sharpe Ratio Rank: 17
VAS.AX Sortino Ratio Rank: 16
VAS.AX Omega Ratio Rank: 16
VAS.AX Calmar Ratio Rank: 19
VAS.AX Martin Ratio Rank: 18

QQQM

QQQM Risk / Return Rank: 60
QQQM Sharpe Ratio Rank: 60
QQQM Sortino Ratio Rank: 56
QQQM Omega Ratio Rank: 57
QQQM Calmar Ratio Rank: 62
QQQM 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.

VAS.AX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Australian Shares Index ETF (VAS.AX) and Invesco NASDAQ 100 ETF (QQQM). 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.

	VAS.AX	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	0.46	1.37	-0.91
Sortino ratio: Return per unit of downside risk	0.73	1.91	-1.18
Omega ratio: Gain probability vs. loss probability	1.09	1.25	-0.16
Calmar ratio: Return relative to maximum drawdown	0.65	1.37	-0.72
Martin ratio: Return relative to average drawdown	1.54	3.63	-2.09

VAS.AX vs. QQQM - Sharpe Ratio Comparison

The current VAS.AX Sharpe Ratio is 0.46, which is lower than the QQQM Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of VAS.AX and QQQM, 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

VAS.AX vs. QQQM - Drawdown Comparison

The maximum VAS.AX drawdown since its inception was -35.75%, which is greater than QQQM's maximum drawdown of -30.93%. Use the drawdown chart below to compare losses from any high point for VAS.AX and QQQM.

Drawdown Indicators

	VAS.AX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-35.75%	-30.93%	-4.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	-15.50%	+6.94%
Max Drawdown (3Y) Largest decline over 3 years	-13.23%	-20.51%	+7.28%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	-30.93%	+15.75%
Max Drawdown (10Y) Largest decline over 10 years	-35.75%	—	—
Current Drawdown Current decline from peak	-2.89%	-3.16%	+0.27%
Average Drawdown Average peak-to-trough decline	-4.80%	-7.14%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	5.84%	-2.16%

Volatility

VAS.AX vs. QQQM - Volatility Comparison

The current volatility for Vanguard Australian Shares Index ETF (VAS.AX) is 2.37%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 6.69%. This indicates that VAS.AX experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAS.AX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	6.69%	-4.32%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	12.56%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	15.53%	-3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	19.85%	-7.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.39%	19.65%	-5.26%

VAS.AX vs. QQQM - Expense Ratio Comparison

VAS.AX has a 0.07% expense ratio, which is lower than QQQM's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VAS.AX vs. QQQM - Dividend Comparison

VAS.AX's dividend yield for the trailing twelve months is around 2.22%, more than QQQM's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQM Invesco NASDAQ 100 ETF	0.44%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%
VAS.AX Vanguard Australian Shares Index ETF	2.22%	3.17%	1.68%	2.92%	6.39%	3.30%	2.56%	4.12%	3.90%	2.57%	2.82%	3.19%

Frequently Asked Questions

Can I hold both VAS.AX and QQQM in my portfolio?

VAS.AX and QQQM have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAS.AX or QQQM?

On fees, VAS.AX is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAS.AX or QQQM?

VAS.AX is cheaper with a 0.07% expense ratio, compared with 0.15% for QQQM.

What is the main difference between VAS.AX and QQQM?

VAS.AX is categorized as Australia Equities, while QQQM is Nasdaq-100. VAS.AX tracks S&P/ASX 300 Index, while QQQM tracks NASDAQ-100 Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.07% for VAS.AX and 0.15% for QQQM.