FPX vs QQQ
First Trust US Equity Opportunities ETF vs Invesco QQQ Trust, Series 1
Which is better, FPX or QQQ?
Each has led over a different period.
QQQ has a lower expense ratio. FPX led over 3Y, QQQ over 1Y, 5Y and the full window. FPX is less concentrated, with 42.9% 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 | FPX | QQQ |
|---|---|---|
| Expense Ratio | 0.57% | 0.18%Best |
| AUM | $1.5B | $483.5B |
| Dividend Yield | 0.47% | 0.44% |
| Holdings | 204 | 107 |
| YTD Return | +9.39% | +16.87%Best |
| 1Y Return | +14.28% | +22.98%Best |
| 3Y Return (annualized) | +27.64%Best | +24.98% |
| 5Y Return (annualized) | +7.69% | +14.39%Best |
| Volatility (annualized) | 20.5% | 18.6%Best |
| Max Drawdown | -56.4% | -53.5%Best |
| $10,000 over 5 years | $14,484 | $19,586Best |
| Top 10 Weight | 42.9%Best | 46.5% |
| Fund Family | First Trust Portfolios (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Apr 12, 2006 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Apr 13, 2006 to Sep 11, 2026 (20.4 years).
FPX 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 20.4 years both funds cover.
FPX vs QQQ Performance
First Trust US Equity Opportunities ETF (FPX) is an ETF from First Trust Portfolios (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year FPX returned +14.28% while QQQ returned +22.98%. Year to date, FPX is up 9.39% versus a gain of 16.87% for QQQ.
Over three years, FPX compounded at +27.64% per year against +24.98% for QQQ; over five years the annualized figures are +7.69% and +14.39% respectively. Across the full 20-year window we track, QQQ has the edge at +15.06% annualized vs +11.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FPX has been the more volatile fund, with annualized monthly volatility of 20.5% compared with 18.6% for QQQ. 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 -56.4% for FPX and -53.5% 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FPX charges 0.57% per year while QQQ charges 0.18%. On a $10,000 position that is $57 vs $18 annually, a gap of $39 per year that compounds over a long holding period. On income, FPX currently yields 0.47% against 0.44% for QQQ.
Holdings Overlap
27.3% of FPX's money is in holdings QQQ also owns. 4.3% of QQQ's money is in holdings FPX also owns.
FPX and QQQ share little of their money.
8 positions in common, counted across the 100 positions we hold weights for in FPX and 102 in QQQ, against full books of 204 and 107.
What only one of them owns
Our book lists 87 positions for QQQ that do not appear in our book for FPX (92.7% of the fund), and 86 for FPX that do not appear in QQQ (68.7%).
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.
Top Shared Holdings
| Stock | Weight in FPX | Weight in QQQ | Difference |
|---|---|---|---|
| SNDKSandisk Corporation | 8.16% | 0.88% | 7.28% |
| STXSeagate Technology Plc | 6.15% | 0.83% | 5.32% |
| WBDWarner Bros. Discovery, Inc | 3.16% | 0.29% | 2.87% |
| LITELumentum Holdings Inc | 3.14% | 0.28% | 2.86% |
| SPCXSpace Exploration Technologies | 1.96% | 0.91% | 1.05% |
| DASHDoordash Inc | 2.23% | 0.37% | 1.86% |
| APPAppLovin Corp. Com Cl A | 1.62% | 0.56% | 1.06% |
| CRWVCoreweave | 0.85% | 0.18% | 0.67% |
27.3% of FPX is already inside QQQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FPX or QQQ?
FPX has an expense ratio of 0.57% while QQQ charges 0.18%. QQQ is the cheaper option, by $39 a year on a $10,000 investment.
Which performed better, FPX or QQQ?
Over the past year FPX returned +14.28% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), FPX annualized +11.47% vs +15.06% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FPX or QQQ?
FPX has been the more volatile fund at 20.5% annualized versus 18.6% for QQQ. Worst drawdown: FPX -56.4% vs QQQ -53.5%.
Should I hold both FPX and QQQ?
FPX and QQQ have a monthly-return correlation of 0.86, 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 FPX and QQQ?
27.3% of FPX's money is in holdings QQQ also owns. 4.3% of QQQ's is in holdings FPX also owns. They hold 8 positions in common, counted across the 100 positions we hold weights for in FPX and 102 in QQQ.
Which pays a higher dividend, FPX or QQQ?
FPX yields 0.47% while QQQ yields 0.44%, so FPX currently pays the higher dividend yield.
Is QQQ better than FPX?
QQQ has a lower expense ratio. FPX led over 3Y, QQQ over 1Y, 5Y and the full window. FPX is less concentrated, with 42.9% 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.