QQQM: Invesco NASDAQ 100 ETF returns, drawdowns and risk
Funds that track the Nasdaq-100: the 100 largest non-financial companies listed on the Nasdaq, heavy in technology.
Data updated October 2026
QQQM · US exchange · USDCategory: Nasdaq-100 ETFsData from February 2021
From February 2021 to October 2026 QQQM returned 16.0% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $23,113.
Its deepest fall was 35.0%, from November 2021 to November 2022, and it took about 25 months to get back to the previous high. Annual volatility was 22.3%; at the last close it was 5.4% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 68 months both have data, the correlation of monthly returns was 0.91: they moved almost in lockstep. Beta was 1.21. In months when SPY rose, QQQM moved 112% as much on average; in months when SPY fell, 109% as much.
Key figures
- Annual return (CAGR)
- +16.0%
- 1-year return
- +19.6%
- 5 years, a year
- +14.6%
- 10 years, a year
- —
- Annual volatility
- 22.3%
- Maximum drawdown
- −35.0%
- Sharpe ratio
- 0.63
- Worst year
- 2022: −32.5%
Trailing returns
| Period | QQQM | SPY |
|---|---|---|
| 1 year | +19.6% | +16.6% |
| 3 years, a year | +26.7% | +23.1% |
| 5 years, a year | +14.6% | +12.7% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: QQQM vs SPY
Month-end values from March 2021, the first month both funds have data.
QQQM drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | QQQM | SPY |
|---|---|---|
| 2026(partial) | +17.4% | +13.3% |
| 2025 | +20.8% | +17.7% |
| 2024 | +25.7% | +24.9% |
| 2023 | +55.0% | +26.2% |
| 2022 | −32.5% | −18.2% |
| 2021(partial) | +23.9% | — |
QQQM compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of QQQM?
From February 2021 to October 2026 QQQM returned 16.0% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +14.6% a year. Over the last 12 months: +19.6%.
What was the worst drawdown of QQQM?
35.0%, from November 2021 to November 2022; it took about 25 months from the previous high to get back to it.
How volatile is QQQM?
Annual volatility was 22.3% over the period. Its worst month was −13.4% and 62% of months were positive. Worst calendar year: 2022 (−32.5%).
How closely does QQQM follow SPY?
Over 68 months the correlation of monthly returns was 0.91, so they moved almost in lockstep, with a beta of 1.21.
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Other Nasdaq-100 ETFs
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.