FMKT vs QQQ
The Free Markets ETF vs Invesco QQQ Trust, Series 1
Which is better, FMKT or QQQ?
Large Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. FMKT is less concentrated, with 44.7% of the fund in its ten largest positions against 46.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FMKT | QQQ |
|---|---|---|
| Expense Ratio | 0.76% | 0.18%Best |
| AUM | $12M | $483.5B |
| Dividend Yield | 2.14% | 0.44% |
| Holdings | 45 | 107 |
| YTD Return | +1.49% | +16.87%Best |
| 1Y Return | +1.24% | +22.98%Best |
| 3Y Return (annualized) | - | +24.98% |
| 5Y Return (annualized) | - | +14.39% |
| Volatility (annualized) | 13.7%Best | 19.8% |
| Max Drawdown | -17.8% | -12.0%Best |
| $10,000 over 1.3 years | $11,575 | $13,609Best |
| Top 10 Weight | 44.7%Best | 46.5% |
| Fund Family | Tidal ETF Trust | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jun 9, 2025 | Mar 10, 1999 |
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 10, 2025 to Sep 11, 2026 (1.3 years).
FMKT vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.3 years both funds cover.
FMKT vs QQQ Performance
The Free Markets ETF (FMKT) is an ETF from Tidal ETF Trust and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year FMKT returned +1.24% while QQQ returned +22.98%. Year to date, FMKT is up 1.49% versus a gain of 16.87% for QQQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.8% compared with 13.7% for FMKT. 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 -17.8% for FMKT and -12.0% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMKT charges 0.76% per year while QQQ charges 0.18%. On a $10,000 position that is $76 vs $18 annually, a gap of $58 per year that compounds over a long holding period. On income, FMKT currently yields 2.14% against 0.44% for QQQ.
Holdings Overlap
10.1% of FMKT's money is in holdings QQQ also owns. 9.9% of QQQ's money is in holdings FMKT also owns.
FMKT and QQQ share little of their money.
4 positions in common, counted across the 44 positions we hold weights for in FMKT and 102 in QQQ, against full books of 45 and 107.
What only one of them owns
Our book lists 91 positions for QQQ that do not appear in our book for FMKT (87.2% of the fund), and 39 for FMKT that do not appear in QQQ (88.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of FMKT and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FMKT or QQQ?
FMKT has an expense ratio of 0.76% while QQQ charges 0.18%. QQQ is the cheaper option, by $58 a year on a $10,000 investment.
Which performed better, FMKT or QQQ?
Over the past year FMKT returned +1.24% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), FMKT annualized +11.91% vs +26.75% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMKT or QQQ?
QQQ has been the more volatile fund at 19.8% annualized versus 13.7% for FMKT. Worst drawdown: FMKT -17.8% vs QQQ -12.0%.
Should I hold both FMKT and QQQ?
FMKT and QQQ have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FMKT and QQQ?
10.1% of FMKT's money is in holdings QQQ also owns. 9.9% of QQQ's is in holdings FMKT also owns. They hold 4 positions in common, counted across the 44 positions we hold weights for in FMKT and 102 in QQQ.
Which pays a higher dividend, FMKT or QQQ?
FMKT yields 2.14% while QQQ yields 0.44%, so FMKT currently pays the higher dividend yield.
Is QQQ better than FMKT?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. FMKT is less concentrated, with 44.7% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.