QQQM vs SCHG: Returns, Drawdowns and Dividends Since 2020
QQQM (Invesco NASDAQ 100 ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) moved almost in lockstep: their daily returns had a correlation of 0.977, where 1 would mean identical. QQQM came out ahead, returning 15.9% a year with dividends reinvested from October 2020 to November 2026, against 15.1% for SCHG.
Bought on any day and held five years, QQQM finished ahead 73% of the time. Their worst declines were similar: 35.0% for QQQM and 34.6% for SCHG.
| Measure | QQQM | SCHG |
|---|---|---|
| Annual return | 15.9% | 15.1% |
| $10,000 grew to | $24,416 | $23,394 |
| Worst decline | −35.0%Nov 2022 | −34.6%Jan 2023 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 22.2% | 21.8% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.64 | 0.62 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 0.5% | 0.4% |
| Best year | +55.0%2023 | +50.1%2023 |
| Worst year | −32.5%2022 | −31.8%2022 |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.977 | |
QQQM: Invesco NASDAQ 100 ETFSCHG: Schwab U.S. Large-Cap Growth ETF
Oct 13, 2020 to Nov 4, 2026, dividends reinvested.
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Worst declines
QQQM fell 35.0% from Nov 19, 2021 to Nov 3, 2022 and was back at its high on Dec 12, 2023. SCHG fell 34.6% from Nov 19, 2021 to Jan 5, 2023 and was back at its high on Dec 18, 2023.
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Year by year
QQQM was ahead in 4 of the 7 calendar years.
| Year | QQQM | SCHG | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +13.1% | +6.8% | QQQM+6.3 |
| 2025 | +20.8% | +17.5% | QQQM+3.3 |
| 2024 | +25.7% | +34.9% | SCHG+9.3 |
| 2023 | +55.0% | +50.1% | QQQM+4.9 |
| 2022 | −32.5% | −31.8% | SCHG+0.7 |
| 2021 | +27.4% | +28.1% | SCHG+0.7 |
| 2020 (from Oct 13) | +6.7% | +5.3% | QQQM+1.3 |
Held for 1, 3 or 5 years: which came out ahead
Buy on any trading day from Oct 13, 2020, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 1,271 | QQQM52% | +0.1 |
| 3 years | 767 | SCHG65% | +2.0 |
| 5 years | 263 | QQQM73% | +8.8 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 5-year hold starts on Oct 27, 2021.
Dividends
Over the past 12 months QQQM paid 0.5% of its price in dividends and SCHG 0.4%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | QQQM | SCHG |
|---|---|---|
| 2026 (to Nov 4) | $0.99 3 payments | $0.11 3 payments |
| 2025 | $1.26 4 payments | $0.12 4 payments |
| 2024 | $1.28 4 payments | $0.11 4 payments |
| 2023 | $1.10 4 payments | $0.10 5 payments |
| 2022 | $0.91 4 payments | $0.08 4 payments |
| 2021 | $0.65 4 payments | $0.09 5 payments |
| 2020 (from Oct 13) | $0.21 1 payment | $0.02 1 payment |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- QQQM
- Invesco NASDAQ 100 ETF, an ETF launched Oct 13, 2020. FinLab prices start Oct 13, 2020.
- QQQM price and signal backtests
- SCHG
- Schwab U.S. Large-Cap Growth ETF, an ETF launched Dec 11, 2009. FinLab prices start Jan 4, 2016.
- SCHG price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Oct 13, 2020 to Nov 4, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.