EWV vs QQQ
ProShares UltraShort MSCI Japan vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | EWV | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.18% | |
| AUM | $6M | $455.8B | |
| Dividend Yield | 5.07% | 0.41% | |
| Holdings | 4 | 108 | |
| YTD Return | -34.93% | +18.31% | |
| 1Y Return | -41.74% | +25.37% | |
| 3Y Return (annualized) | -32.05% | +25.79% | |
| 5Y Return (annualized) | -19.75% | +15.20% | |
| Volatility (annualized) | 30.4% | 30.6% | |
| Max Drawdown | -99.3% | -83.0% | |
| Fund Family | ProShares | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 6, 2007 | Mar 10, 1999 |
EWV vs QQQ Performance
ProShares UltraShort MSCI Japan (EWV) is a ETF from ProShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year EWV returned -41.74% while QQQ returned +25.37%. Year to date, EWV is down 34.93% versus a gain of 18.31% for QQQ.
Over three years, EWV compounded at -32.05% per year against +25.79% for QQQ; over five years the annualized figures are -19.75% and +15.20% respectively. Across the full 19-year window we track, QQQ has the edge at +13.10% annualized vs -20.06%. 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 30.4% for EWV. 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 -99.3% for EWV 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 -0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EWV charges 0.95% per year while QQQ charges 0.18%. On a $10,000 position that is $95 vs $18 annually, a gap of $77 per year that compounds over a long holding period. On income, EWV currently yields 5.07% against 0.41% for QQQ.
Frequently Asked Questions
Which is cheaper, EWV or QQQ?
EWV has an expense ratio of 0.95% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $77 per year of difference.
Which performed better, EWV or QQQ?
Over the past year EWV returned -41.74% vs +25.37% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), EWV annualized -20.06% vs +13.10% for QQQ. Past performance does not guarantee future results.
Which is riskier, EWV or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 30.4% for EWV. Worst drawdown: EWV -99.3% vs QQQ -83.0%.
Should I hold both EWV and QQQ?
EWV and QQQ have a monthly-return correlation of -0.62, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, EWV or QQQ?
EWV yields 5.07% while QQQ yields 0.41%, so EWV currently pays the higher dividend yield.
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