GBXA vs QQQ
Goldman Sachs US Large Cap Buffer 1 ETF vs Invesco QQQ Trust, Series 1
Which is better, GBXA or QQQ?
QQQ has been ahead.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91.
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 | GBXA | QQQ |
|---|---|---|
| Expense Ratio | 0.50% | 0.18%Best |
| AUM | $7M | $483.5B |
| Dividend Yield | 0.34% | 0.44% |
| Holdings | 6 | 107 |
| Volatility (annualized) | 8.9%Best | 15.9% |
| Max Drawdown | -12.3%Best | -22.8% |
| $10,000 over 1.2 years | $10,407 | $11,337Best |
| Fund Family | Goldman Sachs Asset Management | Invesco (US) |
| Category | Alternative | Equity |
| Style | - | Large Cap Growth |
| Inception | Dec 30, 2024 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 178 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. GBXA has data through Mar 31, 2026 and QQQ through Sep 25, 2026.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jan 2, 2025 to Mar 31, 2026 (1.2 years).
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 8.9% for GBXA. 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 -12.3% for GBXA and -22.8% 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
GBXA charges 0.50% per year while QQQ charges 0.18%. On a $10,000 position that is $50 vs $18 annually, a gap of $32 per year that compounds over a long holding period. On income, GBXA currently yields 0.34% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 1 holding in GBXA and 102 in QQQ, totalling 99.9% and 99.9% 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 217 days apart, GBXA as of Dec 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.
0 positions in common, counted across the 1 positions we hold weights for in GBXA and 102 in QQQ, against full books of 6 and 107.
You are not choosing between two funds in isolation.
Whichever of GBXA 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, GBXA or QQQ?
GBXA has an expense ratio of 0.50% while QQQ charges 0.18%. QQQ is the cheaper option, by $32 a year on a $10,000 investment.
Which is riskier, GBXA or QQQ?
QQQ has been the more volatile fund at 15.9% annualized versus 8.9% for GBXA. Worst drawdown: GBXA -12.3% vs QQQ -22.8%.
Should I hold both GBXA and QQQ?
GBXA 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.
Which pays a higher dividend, GBXA or QQQ?
GBXA yields 0.34% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Is QQQ better than GBXA?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.