DWAS vs QQQ
Invesco Dorsey Wright SmallCap Momentum ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. DWAS delivered stronger 1-year returns. DWAS offers more diversification with 199 holdings.
Side-by-Side Comparison
| Metric | DWAS | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.18% | |
| AUM | $434M | $455.8B | |
| Dividend Yield | 0.00% | 0.41% | |
| Holdings | 202 | 108 | |
| YTD Return | +21.28% | +17.46% | |
| 1Y Return | +36.66% | +26.02% | |
| 3Y Return (annualized) | +14.33% | +25.51% | |
| 5Y Return (annualized) | +7.01% | +15.12% | |
| Volatility (annualized) | 21.3% | 30.6% | |
| Max Drawdown | -46.2% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jul 19, 2012 | Mar 10, 1999 |
DWAS vs QQQ Performance
Invesco Dorsey Wright SmallCap Momentum ETF (DWAS) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year DWAS returned +36.66% while QQQ returned +26.02%. Year to date, DWAS is up 21.28% versus a gain of 17.46% for QQQ.
Over three years, DWAS compounded at +14.33% per year against +25.51% for QQQ; over five years the annualized figures are +7.01% and +15.12% respectively. Across the full 14-year window we track, QQQ has the edge at +13.08% annualized vs +12.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 21.3% for DWAS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.2% for DWAS and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DWAS charges 0.60% per year while QQQ charges 0.18%. On a $10,000 position that is $60 vs $18 annually, a gap of $42 per year that compounds over a long holding period. On income, DWAS currently yields 0.00% against 0.41% for QQQ.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, DWAS or QQQ?
DWAS has an expense ratio of 0.60% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $42 per year of difference.
Which performed better, DWAS or QQQ?
Over the past year DWAS returned +36.66% vs +26.02% for QQQ, so DWAS leads on 1-year performance. Over the longest common window we track (14 years), DWAS annualized +12.03% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, DWAS or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 21.3% for DWAS. Worst drawdown: DWAS -46.2% vs QQQ -83.0%.
Should I hold both DWAS and QQQ?
DWAS and QQQ have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DWAS and QQQ?
DWAS and QQQ share 2 common holdings with a 1.4% weight overlap. Combined, they hold 300 unique securities.
Which pays a higher dividend, DWAS or QQQ?
DWAS yields 0.00% while QQQ yields 0.41%, so QQQ currently pays the higher dividend yield.
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