FYEE vs QQQ
Fidelity Yield Enhanced Equity ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. FYEE offers more diversification with 187 holdings.
Side-by-Side Comparison
| Metric | FYEE | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.28% | 0.18% | |
| AUM | $218M | $496.3B | |
| Dividend Yield | 8.34% | 0.44% | |
| Holdings | 187 | 108 | |
| YTD Return | +4.60% | +15.47% | |
| 1Y Return | +10.95% | +24.44% | |
| 3Y Return (annualized) | - | +25.47% | |
| 5Y Return (annualized) | - | +14.22% | |
| Volatility (annualized) | 9.9% | 30.6% | |
| Max Drawdown | -18.8% | -83.0% | |
| Fund Family | Fidelity Investments (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Apr 9, 2024 | Mar 10, 1999 |
FYEE vs QQQ Performance
Fidelity Yield Enhanced Equity ETF (FYEE) is a ETF from Fidelity Investments (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year FYEE returned +10.95% while QQQ returned +24.44%. Year to date, FYEE is up 4.60% versus a gain of 15.47% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 9.9% for FYEE. 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 -18.8% for FYEE 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FYEE charges 0.28% per year while QQQ charges 0.18%. On a $10,000 position that is $28 vs $18 annually, a gap of $10 per year that compounds over a long holding period. On income, FYEE currently yields 8.34% against 0.44% for QQQ.
Holdings Overlap
FYEE and QQQ share 38 holdings out of 239 unique holdings combined, representing a 50.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FYEE or QQQ?
FYEE has an expense ratio of 0.28% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, FYEE or QQQ?
Over the past year FYEE returned +10.95% vs +24.44% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), FYEE annualized +13.27% vs +12.99% for QQQ. Past performance does not guarantee future results.
Which is riskier, FYEE or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 9.9% for FYEE. Worst drawdown: FYEE -18.8% vs QQQ -83.0%.
Should I hold both FYEE and QQQ?
FYEE and QQQ have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FYEE and QQQ?
FYEE and QQQ share 38 common holdings with a 50.1% weight overlap. Combined, they hold 239 unique securities.
Which pays a higher dividend, FYEE or QQQ?
FYEE yields 8.34% while QQQ yields 0.44%, so FYEE currently pays the higher dividend yield.
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