OriginaveQQQ vs ACWI: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
QQQ
SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
VOOVanguard S&P 500 ETFtracks the S&P 500 Index
IVViShares Core S&P 500 ETFtracks the S&P 500 Index- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
ACWI
- SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
- VOOVanguard S&P 500 ETFtracks the S&P 500 Index
- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
- SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index
- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
QQQ tracks the Nasdaq-100 IndexACWI tracks the MSCI ACWI Index
What did the last 10 years do to $10,000?
You invest $10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted.
QQQ vs ACWI, year by year
Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.
| Year | QQQ | ACWI | Winner |
|---|---|---|---|
| 2026 (so far) | +20.83% | +12.94% | QQQ |
| 2025 | +20.77% | +22.41% | ACWI |
| 2024 | +25.58% | +17.45% | QQQ |
| 2023 | +54.86% | +22.27% | QQQ |
| 2022 | -32.58% | -18.39% | ACWI |
| 2021 | +27.42% | +18.66% | QQQ |
| 2020 | +48.41% | +16.34% | QQQ |
| 2019 | +38.96% | +26.59% | QQQ |
| 2018 | -0.13% | -9.12% | QQQ |
| 2017 | +32.66% | +24.33% | QQQ |
| 2016 | +7.10% | +8.40% | ACWI |
| 2015 | +9.44% | -2.21% | QQQ |
| 2014 | +19.18% | +3.83% | QQQ |
| 2013 | +36.63% | +22.38% | QQQ |
| 2012 | +18.11% | +16.75% | QQQ |
| 2011 | +3.48% | -7.82% | QQQ |
| 2010 | +20.14% | +12.78% | QQQ |
| 2009 | +54.68% | +32.36% | QQQ |
| 2008 | -41.73% | -35.29% | ACWI |
| 2007 | +19.03% | — | — |
| 2006 | +7.14% | — | — |
| 2005 | +1.57% | — | — |
| 2004 | +10.54% | — | — |
| 2003 | +49.67% | — | — |
| 2002 | -37.37% | — | — |
| 2001 | -33.34% | — | — |
| 2000 | -36.11% | — | — |
| 1999 | +78.95% | — | — |
QQQ vs ACWI in plain words
QQQ tracks the Nasdaq-100 Index while ACWI follows the MSCI ACWI Index, so they own different slices of the market and their years can look very different. QQQ charges 0.18% a year in running costs and ACWI charges 0.32% — QQQ is the cheaper fund to hold.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 19 calendar years both funds were trading, QQQ finished the year ahead 15 times and ACWI 4 times. $10,000 invested at the start of 2016 was worth $59,045 in QQQ versus $30,708 in ACWI by the end of 2025, dividends reinvested.
Fund facts: QQQ vs ACWI
| Fact | QQQ | ACWI |
|---|---|---|
| Fund | Invesco QQQ Trust | iShares MSCI ACWI ETF |
| Tracks | Nasdaq-100 Index | MSCI ACWI Index |
| Yearly cost (TER) | 0.18% | 0.32% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 10 Mar 1999 | 26 Mar 2008 |
| $10,000 invested | What $10,000 in QQQ became | What $10,000 in ACWI became |
How bumpy the ride was: QQQ vs ACWI
These head-to-head figures use only the 4,661 trading days both funds were listed: 28 Mar 2008 to 6 Oct 2026, roughly 18.5 years.
QQQ swung more than ACWI: annualised volatility of 22.3% for QQQ against 20.1% for ACWI, with QQQ moving 1% or more on 34.5% of trading days and ACWI on 27.4%. Both had their worst day on 16 Mar 2020: QQQ closed -11.98% and ACWI -11.22%.
ACWI had the deeper drawdown: it fell -56.28% from its peak on 16 May 2008 to a low on 9 Mar 2009, then closed back above the old peak on 6 Mar 2013, 47 months after the low; QQQ fell -49.37% from its peak on 5 Jun 2008 to a low on 20 Nov 2008, then closed back above the old peak on 15 Apr 2010, 16 months after the low.
Day to day the two usually move together: the correlation of their daily returns is 0.89, and they closed in opposite directions on 17.3% of the 4,660 days measured. The widest single-day gap came on 22 Oct 2008, when QQQ moved -2.76% and ACWI -7.29%.
| Measure | QQQ | ACWI |
|---|---|---|
| Annualised volatility | 22.3% | 20.1% |
| Worst day | -11.98% on 16 Mar 2020 | -11.22% on 16 Mar 2020 |
| Best day | +12.16% on 13 Oct 2008 | +12.41% on 13 Oct 2008 |
| Days moving 1% or more | 34.5% of days | 27.4% of days |
| Deepest drawdown | -49.37% | -56.28% |
| Peak to trough | 5 Jun 2008 → 20 Nov 2008 | 16 May 2008 → 9 Mar 2009 |
| Back above the old peak | 15 Apr 2010 · 16 months | 6 Mar 2013 · 47 months |
Years QQQ and ACWI parted ways
In 15 of the 18 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2023: QQQ returned +54.86% and ACWI +22.27%, a gap of 32.6 points. They rose together in 13 years, fell together in 3 years and went opposite ways in 2 years.
| Year | QQQ | ACWI | Gap (QQQ − ACWI) |
|---|---|---|---|
| 2024 | +25.58% | +17.45% | +8.1 pts |
| 2023 | +54.86% | +22.27% | +32.6 pts |
| 2022 | -32.58% | -18.39% | -14.2 pts |
| 2021 | +27.42% | +18.66% | +8.8 pts |
| 2020 | +48.41% | +16.34% | +32.1 pts |
| 2019 | +38.96% | +26.59% | +12.4 pts |
| 2018 | -0.13% | -9.12% | +9.0 pts |
| 2017 | +32.66% | +24.33% | +8.3 pts |
| 2015 | +9.44% | -2.21% | +11.6 pts |
| 2014 | +19.18% | +3.83% | +15.3 pts |
| 2013 | +36.63% | +22.38% | +14.3 pts |
| 2011 | +3.48% | -7.82% | +11.3 pts |
| 2010 | +20.14% | +12.78% | +7.4 pts |
| 2009 | +54.68% | +32.36% | +22.3 pts |
| 2008 | -41.73% | -35.29% | -6.4 pts |
How often QQQ beat ACWI over any 12 months
Across the 211 rolling 12-month windows since March 2008, measured month-end to month-end, QQQ finished ahead in 87.2% of them (184) and ACWI in 12.8% (27).
$200 a month into each, 2009–2025
Putting $200 into each fund at the start of every month from January 2009 to December 2025 (204 payments, $40,800 in total) would have grown to $264,263 in QQQ and $114,514 in ACWI, leaving QQQ $149,750 ahead.
| Outcome | QQQ | ACWI |
|---|---|---|
| Paid in | $40,800 | $40,800 |
| Value at the end of 2025 | $264,263 | $114,514 |
| Gain on the money paid in | +$223,463 | +$73,714 |
| Gain in % | +547.70% | +180.67% |
Each payment rides the return of the month it lands in, dividends reinvested. Only calendar years with all twelve months of data for both funds count, so the plan may start later than the shared history.
Frequently asked
Is QQQ or ACWI better?
Across the 19 calendar years both funds were trading, QQQ finished the year ahead 15 times and ACWI 4 times. $10,000 invested at the start of 2016 was worth $59,045 in QQQ versus $30,708 in ACWI by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.
What is the difference between QQQ and ACWI?
QQQ tracks the Nasdaq-100 Index while ACWI follows the MSCI ACWI Index, so they own different slices of the market and their years can look very different. QQQ charges 0.18% a year in running costs and ACWI charges 0.32% — QQQ is the cheaper fund to hold. Both funds distribute: dividends land in your account as cash instead of being reinvested automatically.
Which is more volatile, QQQ or ACWI?
QQQ swung more than ACWI: annualised volatility of 22.3% for QQQ against 20.1% for ACWI, with QQQ moving 1% or more on 34.5% of trading days and ACWI on 27.4%. Both had their worst day on 16 Mar 2020: QQQ closed -11.98% and ACWI -11.22%.
Which had the deeper drawdown, QQQ or ACWI?
ACWI had the deeper drawdown: it fell -56.28% from its peak on 16 May 2008 to a low on 9 Mar 2009, then closed back above the old peak on 6 Mar 2013, 47 months after the low; QQQ fell -49.37% from its peak on 5 Jun 2008 to a low on 20 Nov 2008, then closed back above the old peak on 15 Apr 2010, 16 months after the low.
How often did QQQ beat ACWI over a 12-month period?
Across the 211 rolling 12-month windows since March 2008, measured month-end to month-end, QQQ finished ahead in 87.2% of them (184) and ACWI in 12.8% (27).
What would $10,000 in QQQ have become?
$10,000 invested in QQQ at the start of 2016 grew to $59,045 by the end of 2025, with dividends reinvested — an average of 19.4% per year.
Source: Yahoo Finance daily adjusted closes for the US primary listings, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.