^DWMI vs. QQQM
Compare and contrast key facts about Dow Jones U.S. Micro-Cap Total Stock Market Index (^DWMI) and Invesco NASDAQ 100 ETF (QQQM).
QQQM is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Oct 13, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^DWMI or QQQM.
Key characteristics
| ^DWMI | QQQM | |
|---|---|---|
| YTD Return | -2.92% | 9.98% |
| 1Y Return | 4.63% | 21.57% |
| 3Y Return (Ann) | -13.20% | 6.30% |
| Sharpe Ratio | 0.17 | 1.17 |
| Daily Std Dev | 22.33% | 17.67% |
| Max Drawdown | -66.10% | -35.05% |
| Current Drawdown | -41.81% | -10.77% |
Correlation
The correlation between ^DWMI and QQQM is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
^DWMI vs. QQQM - Performance Comparison
In the year-to-date period, ^DWMI achieves a -2.92% return, which is significantly lower than QQQM's 9.98% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
^DWMI vs. QQQM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Jones U.S. Micro-Cap Total Stock Market Index (^DWMI) 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.
Drawdowns
^DWMI vs. QQQM - Drawdown Comparison
The maximum ^DWMI drawdown since its inception was -66.10%, which is greater than QQQM's maximum drawdown of -35.05%. Use the drawdown chart below to compare losses from any high point for ^DWMI and QQQM. For additional features, visit the drawdowns tool.
Volatility
^DWMI vs. QQQM - Volatility Comparison
Dow Jones U.S. Micro-Cap Total Stock Market Index (^DWMI) has a higher volatility of 8.29% compared to Invesco NASDAQ 100 ETF (QQQM) at 7.07%. This indicates that ^DWMI's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.