ETF · Index fund
QQQ real return vs inflation and money printing
Invesco QQQ Trust. An exchange-traded fund that tracks the Nasdaq-100 index.
Key numbers
- 1-month change
- +4.1%
- Volatility (30-day, annualised)
- 14.5%
QQQ real return after inflation and money printing
In dollars and pounds, before and after inflation, since Mar 1999.
+959%QQQ after US inflation since 201015.0% a year
Up 1,542% in dollars since 2010. After US inflation, up 959%. Against money printing, up 499%.
In pounds, up 1,906%, or up 1,129% after UK inflation.
- $ nominal
- +1,542%18.1% a year
- £ nominal
- +1,906%19.5% a year
- Real $ (US CPI)
- +959%15.0% a year
- Real £ (UK CPI)
- +1,129%16.1% a year
- vs US M2
- +499%11.2% a year
- Measured from
- Dec 2009to Oct 2026, 16 years 10 months
- QQQ, Real $ (US CPI)$751.30
- $ nominal$751.30
- Oct 2026, latest
Loading the chart. Every figure is also in the table below.
| Period | $ nominal | £ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Past year from Oct 2025 | +19.4% | +18.6% | –a (see note a) | +15.4% | +13.8% |
| 5 years from Oct 2021 | +94.6% 14.2% a year | +101% 15.0% a year | +60.7% 9.9% a year | +59.2% 9.7% a year | +76.4% 12.0% a year |
| Since 2020 from Dec 2019 | +253% 20.3% a year | +254% 20.3% a year | +171% 15.7% a year | +168% 15.5% a year | +132% 13.1% a year |
| 10 years from Oct 2016 | +542% 20.4% a year | +493% 19.5% a year | +363% 16.6% a year | +318% 15.4% a year | +261% 13.7% a year |
| Since 2010 from Dec 2009 | +1,542% 18.1% a year | +1,906% 19.5% a year | +959% 15.0% a year | +1,129% 16.1% a year | +499% 11.2% a year |
| Since 2000 from Dec 1999 | +722% 8.2% a year | +903% 9.0% a year | +313% 5.4% a year | +407% 6.2% a year | +63.4% 1.8% a year |
| Since Mar 1999 first month in our data | +1,332% 10.1% a year | +1,646% 10.9% a year | +605% 7.3% a year | +774% 8.2% a year | +172% 3.7% a year |
- a US CPI was not published for Oct 2025.
How these figures are worked out
Sources, inflation measures and what is left out
- Month-end closes from Yahoo Finance, Nasdaq, Mar 1999 to Oct 2026. Oct 2026 is still in progress, so its figure is the latest close rather than a month-end. Our history for QQQ starts in Mar 1999, so longer windows are left out.
- Real figures divide by US CPI (BLS, via FRED) or UK CPI (ONS, joined to the ONS long-run RPI before Jan 1988) and are stated in Oct 2026 money. The M2 lens divides by the US M2 money supply (Federal Reserve, via FRED). Pounds convert at each month's GBP/USD rate.
- US CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- UK CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- US M2 is published with a lag: Oct 2026 uses the Aug 2026 figure.
- Price returns only: dividends are not included, so the total return to a holder who reinvested them was higher.
- A return of 12 months or more also shows its yearly rate. Gaps in a source are left as gaps and never filled in.
Nasdaq-100 ETF price history, past year
Daily closes from Nasdaq. Last refreshed .
Where QQQ stands today
52-week range
- Below the high
- 2.0%
- Above the low
- 33.3%
At $744.30, QQQ is higher than 96% of its daily closes over the past year and only 2.0% short of the $759.66 high it set on 6 Oct 2026.
Moving averages
- 50-day$726.57 +2.4%
- 200-day$673.40 +10.5%
Price compared with each average. Bars to the right mean the price is above it.
QQQ is 2.4% above its 50-day average and 10.5% above its 200-day average, so on both the shorter and the longer view the trend we measure is still pointing up. The 50-day line has stayed above the 200-day on every day since 24 Jun 2026, as far back as our data lets us check.
Trend score
- Trend100
- Momentum80
- RSI score88
- Drawdown96
- Uptrend
- 65 or more
- Sideways
- 36 to 64
- Downtrend
- 35 or less
Rules-based, from 277 daily prices. It describes the trend so far and does not predict the next move. How it works.
QQQ performance and biggest moves
Returns over time
| Period | QQQ | SPY | Gap |
|---|---|---|---|
| 1 week | -2.0% | -0.1% | −1.9 pts |
| 1 month | +4.1% | +1.9% | +2.3 pts |
| 3 months | +3.7% | +3.1% | +0.6 pts |
| Year to date | +21.2% | +14.2% | +7.0 pts |
| 1 year | +23.6% | +17.4% | +6.2 pts |
QQQ is up 23.6% over the past year on price alone, against +17.4% for the S&P 500 (through the SPY fund), so it has beaten that comparison by 6.2 percentage points. Dividends are not included, so the total return for holders would be a little higher.
Best and worst days in the past year
- Days that closed higher
- 55%
- Moves of 2% or more
- 24
The biggest one-day rise since 13 Oct 2025 came on 4 Aug 2026 (+3.4%) and the sharpest fall on 5 Jun 2026 (−4.8%). Of the 251 trading days in that period, 55% closed higher than the day before and 24 moved by 2% or more in one direction or the other.
Is QQQ overbought, and how volatile is it?
RSI (14-day)
Neutral- Sessions at 70+ (past year)
- 34
- Sessions at 30 or lower
- 2
QQQ's RSI of 55.2 is near the middle of the scale, which tells us the up and down days of the last three weeks have more or less cancelled each other out. For context, it last went above 70 on 4 Jun 2026 and last fell below 30 on 30 Mar 2026.
Volatility against other funds and indices
3rd calmest of 6- Typical daily move
- 0.9%
- Calmest in group
- TLT 9.7%
QQQ's 30-day volatility is 14.5%, which works out at a move of roughly 0.9% on an ordinary day. That makes it the 3rd calmest of the 6 funds and indices we track, close to the group median of 14.6%.
QQQ compared with similar assets
| Asset | Price | Today | 1 month | 1 year | RSI | Trend score |
|---|---|---|---|---|---|---|
| QQQNasdaq-100 ETF | $744.30 | +0.10% | +4.1% | +23.6% | 55 | 90 Uptrend |
| NDXNasdaq-100 | 30,569 | -0.31% | +4.1% | +23.5% | 55 | 90 Uptrend |
| SPYS&P 500 ETF | $778.46 | +0.05% | +1.9% | +17.4% | 60 | 89 Uptrend |
| NVDANVIDIA | $229.24 | +0.32% | +5.0% | +21.7% | 53 | 89 Uptrend |
Over the past year Nasdaq-100 ETF has done best in this group (+23.6%) and S&P 500 ETF has been the weakest (+17.4%).
About Nasdaq-100 ETF
QQQ began trading in March 1999. It holds the Nasdaq-100 companies in the same proportions as the index, which means its largest positions are the biggest US technology firms.
- Ticker
- QQQ
- Type
- ETF
- Sector
- Index fund
- Priced in
- USD
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QQQ: questions people ask
Answers are built from the same live figures shown above, so they change as the price does. Last checked 14 Oct 2026.
Has QQQ beaten inflation since 2010?
Yes. From the December 2009 close to October 2026, QQQ went up 1,542% in dollars. US consumer prices rose 55.1% over the same months, which leaves a real gain of 959%, or 15.0% a year after inflation. A UK holder counting in pounds saw up 1,906%, which comes to up 1,129% once UK CPI is taken out. These are price returns: dividends are not included, so a holder who reinvested them did better.
How has QQQ done against money printing?
The US M2 money supply grew 174% since 2010. M2 counts the cash, current accounts and savings deposits held in the US, so it measures how much new money was created rather than how much shop prices rose. Against it, QQQ is up 499%.
What is QQQ's real return over 10 years?
Over the 10 years to October 2026, QQQ returned 542% in dollars (20.4% a year). After US inflation that is up 363%, 16.6% a year. In pounds after UK inflation it is up 318%.
What is the QQQ price today?
The last price we have for QQQ is $744.30, up 0.1% on the day, as of 23:54 BST on 13 Oct 2026. We get US prices from Nasdaq and during trading hours they can be up to 15 minutes behind, so if you are about to trade you'll want the live quote from your broker rather than ours. Over the last month the fund has moved +4.1% and over the last year +23.6%.
What does QQQ invest in?
An exchange-traded fund that tracks the Nasdaq-100 index. QQQ began trading in March 1999. It holds the Nasdaq-100 companies in the same proportions as the index, which means its largest positions are the biggest US technology firms.
How has QQQ performed over the past year?
Over the past 12 months QQQ is up 23.6%, and since the start of the year it is up 21.2%. We put it next to the S&P 500 (through the SPY fund) because that is the obvious alternative for most people weighing up QQQ, and it moved +17.4% over the same 12 months, a gap of 6.2 points in QQQ's favour. The figures are price changes only, so any dividends or interest the fund paid out come on top.
Is QQQ above its 200-day moving average?
It is, and comfortably. QQQ's last price of $744.30 is 10.5% above its 200-day average of $673.40, and the 50-day average of $726.57 is above the 200-day as well, which has been true on every day since 24 Jun 2026, as far back as our data goes. We show the 200-day line because it averages about ten months of closing prices, so a single bad week hardly moves it, and when we look at a chart it's the quickest way to see whether a fund has been rising or falling over the longer run, even if it can't tell us where the price goes from here.
How volatile is QQQ compared with other funds?
Over the past 30 days QQQ's annualised volatility has been 14.5%. If that number feels abstract, it works out at roughly a 0.9% move on an ordinary day. It is the 3rd calmest of the 6 funds and indices we track and the median for the group is 14.6%, so at the moment it is about as jumpy as a typical member of the group. The biggest single-day swings of the past year were +3.4% on 4 Aug 2026 and −4.8% on 5 Jun 2026.
Important information
Capital at risk. The value of investments can fall as well as rise and you may get back less than you invest. Past performance is not a reliable indicator of future results. Educational information only, not financial advice. Read our disclaimer.
Nasdaq-100 ETF: what the numbers say
Claude Haiku ·Invesco QQQ Trust fell 0.5% to $742.31 today, with the US market open. The fund sits 2.3% below its 52-week closing high of $759.66, reached on 6 October, and remains 33% above its 52-week closing low of $558.28, recorded on 30 March. It is trading above both its 50-day average of about $726.5 and its 200-day average of about $673.4, and it has gained 23.31% over the past year.
Read the full summary Show less
The trend score stands at 89, which the page labels Uptrend, with momentum at 78 and a 30-day change of 3.84%. The 14-day RSI sits at 53.6, and volatility over 30 days is 14.6% annualised. Today's dip matched the broader market, with the Nasdaq-100 also down 0.5% and the S&P 500 ETF easing 0.05%. NVIDIA, a constituent, rose 0.45% over the same session.
Written by AI from this site's live data and checked figure by figure before publishing. Educational only, not financial advice.