FPAG vs QQQ
FPA Global Equity 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 108 holdings.
Side-by-Side Comparison
| Metric | FPAG | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.18% | |
| AUM | $611M | $496.3B | |
| Dividend Yield | 1.30% | 0.44% | |
| Holdings | 70 | 108 | |
| YTD Return | +12.18% | +17.30% | |
| 1Y Return | +21.04% | +24.93% | |
| 3Y Return (annualized) | +21.95% | +26.19% | |
| 5Y Return (annualized) | - | +15.34% | |
| Volatility (annualized) | 17.0% | 30.6% | |
| Max Drawdown | -28.4% | -83.0% | |
| Fund Family | FPA Investors First | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Dec 16, 2021 | Mar 10, 1999 |
FPAG vs QQQ Performance
FPA Global Equity ETF (FPAG) is a ETF from FPA Investors First and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year FPAG returned +21.04% while QQQ returned +24.93%. Year to date, FPAG is up 12.18% versus a gain of 17.30% for QQQ.
Over three years, FPAG compounded at +21.95% per year against +26.19% for QQQ. Across the full 5-year window we track, FPAG has the edge at +13.35% annualized vs +13.06%. 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 17.0% for FPAG. 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 -28.4% for FPAG 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FPAG charges 0.49% per year while QQQ charges 0.18%. On a $10,000 position that is $49 vs $18 annually, a gap of $31 per year that compounds over a long holding period. On income, FPAG currently yields 1.30% against 0.44% for QQQ.
Holdings Overlap
FPAG and QQQ share 11 holdings out of 155 unique holdings combined, representing a 13.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FPAG or QQQ?
FPAG has an expense ratio of 0.49% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, FPAG or QQQ?
Over the past year FPAG returned +21.04% vs +24.93% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (5 years), FPAG annualized +13.35% vs +13.06% for QQQ. Past performance does not guarantee future results.
Which is riskier, FPAG or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 17.0% for FPAG. Worst drawdown: FPAG -28.4% vs QQQ -83.0%.
Should I hold both FPAG and QQQ?
FPAG and QQQ have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FPAG and QQQ?
FPAG and QQQ share 11 common holdings with a 13.6% weight overlap. Combined, they hold 155 unique securities.
Which pays a higher dividend, FPAG or QQQ?
FPAG yields 1.30% while QQQ yields 0.44%, so FPAG currently pays the higher dividend yield.
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