FSST vs QQQ
Fidelity Sustainable US Equity ETF vs Invesco QQQ Trust, Series 1
Which is better, FSST or QQQ?
Large Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. FSST is less concentrated, with 43.8% 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 | FSST | QQQ |
|---|---|---|
| Expense Ratio | 0.59% | 0.18%Best |
| AUM | $13M | $483.5B |
| Dividend Yield | 1.55% | 0.44% |
| Holdings | 90 | 107 |
| Volatility (annualized) | 17.4%Best | 20.3% |
| Max Drawdown | -26.3%Best | -35.1% |
| $10,000 over 4.4 years | $16,169 | $18,089Best |
| Top 10 Weight | 43.8%Best | 46.5% |
| Fund Family | Fidelity Investments (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jun 15, 2021 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 302 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FSST has data through Nov 13, 2025 and QQQ through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Jun 17, 2021 to Nov 13, 2025 (4.4 years).
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 17.4% for FSST. 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 -26.3% for FSST and -35.1% 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSST charges 0.59% per year while QQQ charges 0.18%. On a $10,000 position that is $59 vs $18 annually, a gap of $41 per year that compounds over a long holding period. On income, FSST currently yields 1.55% against 0.44% for QQQ.
Holdings Overlap
45.1% of FSST's money is in holdings QQQ also owns. 47.2% of QQQ's money is in holdings FSST also owns.
The two portfolios partly overlap.
The two holdings books were reported 370 days apart, FSST as of Jul 31, 2025 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
19 positions in common, counted across the 94 positions we hold weights for in FSST and 102 in QQQ, against full books of 90 and 107.
What only one of them owns
Our book lists 76 positions for QQQ that do not appear in our book for FSST (49.8% of the fund), and 67 for FSST that do not appear in QQQ (48.9%).
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 FSST | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.95% | 8.44% | 0.51% |
| AAPLApple, Inc | 5.57% | 7.27% | 1.70% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 7.00% | 5.76% | 1.24% |
| AMZNAmazon.Com Inc | 5.21% | 4.67% | 0.54% |
| GOOGLAlphabet A Usd 0.001 | 3.89% | 3.36% | 0.53% |
| METAMeta Platforms, Inc. | 4.37% | 2.78% | 1.59% |
| MUMicron Technology, Inc. | 0.69% | 4.43% | 3.74% |
| AVGOBroadcom Inc | 0.37% | 3.16% | 2.79% |
| NFLXNetflix, Inc. | 2.00% | 1.37% | 0.63% |
| LRCXLam Research Corpcommon Stock | 0.63% | 1.69% | 1.06% |
47.2% of QQQ is already inside FSST.
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, FSST or QQQ?
FSST has an expense ratio of 0.59% while QQQ charges 0.18%. QQQ is the cheaper option, by $41 a year on a $10,000 investment.
Which is riskier, FSST or QQQ?
QQQ has been the more volatile fund at 20.3% annualized versus 17.4% for FSST. Worst drawdown: FSST -26.3% vs QQQ -35.1%.
Should I hold both FSST and QQQ?
FSST and QQQ have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FSST and QQQ?
47.2% of QQQ's money is in holdings FSST also owns. 47.2% of QQQ's is in holdings FSST also owns. They hold 19 positions in common, counted across the 94 positions we hold weights for in FSST and 102 in QQQ.
Which pays a higher dividend, FSST or QQQ?
FSST yields 1.55% while QQQ yields 0.44%, so FSST currently pays the higher dividend yield.
Is QQQ better than FSST?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. FSST is less concentrated, with 43.8% 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.