FSSL vs QQQ
FS Specialty Lending Fund vs Invesco QQQ Trust, Series 1
Which is better, FSSL or QQQ?
High Yield Bond against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y.
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 | FSSL | QQQ |
|---|---|---|
| Expense Ratio | 6.98% | 0.18%Best |
| AUM | $1.3B | $437.3B |
| Dividend Yield | 10.40% | 0.43% |
| Holdings | 161 | 208 |
| YTD Return | -6.82% | +7.37%Best |
| 1Y Return | -1.47% | +7.77%Best |
| 3Y Return (annualized) | - | +21.44% |
| 5Y Return (annualized) | - | +11.19% |
| Volatility (annualized) | 16.6%Best | 23.9% |
| Fund Family | FS Specialty Lending Fund | Invesco (US) |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Growth |
| Inception | Jul 18, 2011 | Mar 10, 1999 |
Not shown on this pair: Max Drawdown, $10,000 over the window, Top 10 Weight.
FSSL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
FSSL vs QQQ Performance
FS Specialty Lending Fund (FSSL) is an ETF from FS Specialty Lending Fund and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year FSSL returned -1.47% while QQQ returned +7.77%. Year to date, FSSL is down 6.82% versus a gain of 7.37% 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 23.9% compared with 16.6% for FSSL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at -0.13. They move largely independently of each other.
Fees and Cost Over Time
FSSL charges 6.98% per year while QQQ charges 0.18%. On a $10,000 position that is $698 vs $18 annually, a gap of $680 per year that compounds over a long holding period. On income, FSSL currently yields 10.40% against 0.43% for QQQ.
Holdings Overlap
We hold position weights for 8 holdings in FSSL and 101 in QQQ, totalling 9.7% and 99.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 107 days apart, FSSL as of Jun 30, 2026 and QQQ as of Oct 15, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 8 positions we hold weights for in FSSL and 101 in QQQ, against full books of 161 and 208.
You are not choosing between two funds in isolation.
Whichever of FSSL 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, FSSL or QQQ?
FSSL has an expense ratio of 6.98% while QQQ charges 0.18%. QQQ is the cheaper option, by $680 a year on a $10,000 investment.
Which performed better, FSSL or QQQ?
Over the past year FSSL returned -1.47% vs +7.77% for QQQ, so QQQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSSL or QQQ?
QQQ has been the more volatile fund at 23.9% annualized versus 16.6% for FSSL.
Should I hold both FSSL and QQQ?
FSSL and QQQ have a monthly-return correlation of -0.13, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FSSL or QQQ?
FSSL yields 10.40% while QQQ yields 0.43%, so FSSL currently pays the higher dividend yield.
Is QQQ better than FSSL?
QQQ has a lower expense ratio. QQQ led over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.