FVAL vs QQQ
Fidelity Value Factor ETF vs Invesco QQQ Trust, Series 1
Which is better, FVAL or QQQ?
Large Cap Value against Large Cap Growth.
FVAL has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. FVAL is less concentrated, with 43.4% 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 | FVAL | QQQ |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.18% |
| AUM | $1.3B | $486.1B |
| Dividend Yield | 1.56% | 0.44% |
| Holdings | 130 | 107 |
| YTD Return | +15.36% | +17.54%Best |
| 1Y Return | +24.80% | +25.59%Best |
| 3Y Return (annualized) | +20.61% | +24.63%Best |
| 5Y Return (annualized) | +12.59% | +14.18%Best |
| Volatility (annualized) | 16.3%Best | 19.0% |
| Max Drawdown | -37.7% | -35.1%Best |
| $10,000 over 5 years | $18,093 | $19,407Best |
| Top 10 Weight | 43.4%Best | 46.5% |
| Fund Family | Fidelity Investments (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Growth |
| Inception | Sep 12, 2016 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Sep 15, 2016 to Sep 4, 2026 (10 years).
FVAL 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 10 years both funds cover.
FVAL vs QQQ Performance
Fidelity Value Factor ETF (FVAL) is an ETF from Fidelity Investments (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year FVAL returned +24.80% while QQQ returned +25.59%. Year to date, FVAL is up 15.36% versus a gain of 17.54% for QQQ.
Over three years, FVAL compounded at +20.61% per year against +24.63% for QQQ; over five years the annualized figures are +12.59% and +14.18% respectively. Across the full 10-year window we track, QQQ has the edge at +20.30% annualized vs +13.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 16.3% for FVAL. 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 -37.7% for FVAL 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FVAL charges 0.15% per year while QQQ charges 0.18%. On a $10,000 position that is $15 vs $18 annually, a gap of $3 per year that compounds over a long holding period. On income, FVAL currently yields 1.56% against 0.44% for QQQ.
Holdings Overlap
45.0% of FVAL's money is in holdings QQQ also owns. 48.6% of QQQ's money is in holdings FVAL also owns.
The two portfolios partly overlap.
23 positions in common, counted across the 126 positions we hold weights for in FVAL and 102 in QQQ, against full books of 130 and 107.
What only one of them owns
Our book lists 73 positions for QQQ that do not appear in our book for FVAL (49.0% of the fund), and 96 for FVAL that do not appear in QQQ (53.1%).
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 FVAL | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.70% | 8.44% | 0.74% |
| AAPLApple, Inc | 6.72% | 7.27% | 0.55% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.47% | 5.76% | 0.29% |
| AMZNAmazon.Com Inc | 4.10% | 4.67% | 0.57% |
| GOOGLAlphabet Inc.Class A | 5.05% | 3.36% | 1.69% |
| MUMicron Technology, Inc. | 2.68% | 4.43% | 1.75% |
| AVGOBroadcom Inc | 3.43% | 3.16% | 0.27% |
| METAMeta Platform Inc | 1.95% | 2.78% | 0.83% |
| WMTWalmart, Inc. | 0.88% | 2.41% | 1.53% |
| QCOMQualcomm Inc. | 0.86% | 0.73% | 0.13% |
48.6% of QQQ is already inside FVAL.
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, FVAL or QQQ?
FVAL has an expense ratio of 0.15% while QQQ charges 0.18%. FVAL is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, FVAL or QQQ?
Over the past year FVAL returned +24.80% vs +25.59% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (10 years), FVAL annualized +13.74% vs +20.30% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FVAL or QQQ?
QQQ has been the more volatile fund at 19.0% annualized versus 16.3% for FVAL. Worst drawdown: FVAL -37.7% vs QQQ -35.1%.
Should I hold both FVAL and QQQ?
FVAL and QQQ have a monthly-return correlation of 0.82, 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 FVAL and QQQ?
48.6% of QQQ's money is in holdings FVAL also owns. 48.6% of QQQ's is in holdings FVAL also owns. They hold 23 positions in common, counted across the 126 positions we hold weights for in FVAL and 102 in QQQ.
Which pays a higher dividend, FVAL or QQQ?
FVAL yields 1.56% while QQQ yields 0.44%, so FVAL currently pays the higher dividend yield.
Is QQQ better than FVAL?
FVAL has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. FVAL is less concentrated, with 43.4% 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.