FFLS vs QQQ
The Future Fund Long/Short ETF 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 | FFLS | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.60% | 0.18% | |
| AUM | $42M | $455.8B | |
| Dividend Yield | 6.55% | 0.41% | |
| Holdings | 52 | 108 | |
| YTD Return | +3.81% | +17.46% | |
| 1Y Return | +2.50% | +26.02% | |
| 3Y Return (annualized) | +11.82% | +25.51% | |
| 5Y Return (annualized) | - | +15.12% | |
| Volatility (annualized) | 9.8% | 30.6% | |
| Max Drawdown | -11.1% | -83.0% | |
| Fund Family | The Future Fund | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 20, 2022 | Mar 10, 1999 |
FFLS vs QQQ Performance
The Future Fund Long/Short ETF (FFLS) is a ETF from The Future Fund and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year FFLS returned +2.50% while QQQ returned +26.02%. Year to date, FFLS is up 3.81% versus a gain of 17.46% for QQQ.
Over three years, FFLS compounded at +11.82% per year against +25.51% for QQQ. Across the full 3-year window we track, QQQ has the edge at +13.08% annualized vs +9.88%. 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 9.8% for FFLS. 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 -11.1% for FFLS 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FFLS charges 1.60% per year while QQQ charges 0.18%. On a $10,000 position that is $160 vs $18 annually, a gap of $142 per year that compounds over a long holding period. On income, FFLS currently yields 6.55% against 0.41% for QQQ.
Holdings Overlap
FFLS and QQQ share 10 holdings out of 146 unique holdings combined, representing a 20.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FFLS or QQQ?
FFLS has an expense ratio of 1.60% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $142 per year of difference.
Which performed better, FFLS or QQQ?
Over the past year FFLS returned +2.50% vs +26.02% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (3 years), FFLS annualized +9.88% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, FFLS or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 9.8% for FFLS. Worst drawdown: FFLS -11.1% vs QQQ -83.0%.
Should I hold both FFLS and QQQ?
FFLS and QQQ have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLS and QQQ?
FFLS and QQQ share 10 common holdings with a 20.4% weight overlap. Combined, they hold 146 unique securities.
Which pays a higher dividend, FFLS or QQQ?
FFLS yields 6.55% while QQQ yields 0.41%, so FFLS currently pays the higher dividend yield.
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