HFEQ vs QQQ
Unlimited HFEQ Equity Long/Short ETF vs Invesco QQQ Trust, Series 1
Which is better, HFEQ or QQQ?
Long-Short Strategy against Large Cap Growth.
QQQ has a lower expense ratio. HFEQ led over the full window, QQQ 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 | HFEQ | QQQ |
|---|---|---|
| Expense Ratio | 0.96% | 0.18%Best |
| AUM | $19M | $483.5B |
| Dividend Yield | 9.14% | 0.44% |
| Holdings | 22 | 107 |
| YTD Return | +11.06% | +17.21%Best |
| 1Y Return | +17.76% | +22.10%Best |
| 3Y Return (annualized) | - | +25.27% |
| 5Y Return (annualized) | - | +14.60% |
| Volatility (annualized) | 16.2%Best | 20.5% |
| Max Drawdown | -12.5% | -12.0%Best |
| $10,000 over 1.2 years | $13,013Best | $13,012 |
| Fund Family | Unlimited Funds | Invesco (US) |
| Category | Alternative | Equity |
| Style | Long-Short Strategy | Large Cap Growth |
| Inception | Jul 14, 2025 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 15, 2025 to Sep 17, 2026 (1.2 years).
HFEQ 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 1.2 years both funds cover.
HFEQ vs QQQ Performance
Unlimited HFEQ Equity Long/Short ETF (HFEQ) is an ETF from Unlimited Funds and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year HFEQ returned +17.76% while QQQ returned +22.10%. Year to date, HFEQ is up 11.06% versus a gain of 17.21% 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 20.5% compared with 16.2% for HFEQ. 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 -12.5% for HFEQ and -12.0% 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HFEQ charges 0.96% per year while QQQ charges 0.18%. On a $10,000 position that is $96 vs $18 annually, a gap of $78 per year that compounds over a long holding period. On income, HFEQ currently yields 9.14% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 11 holdings in HFEQ and 102 in QQQ, totalling 89.5% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 11 positions we hold weights for in HFEQ and 102 in QQQ, against full books of 22 and 107.
You are not choosing between two funds in isolation.
Whichever of HFEQ 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, HFEQ or QQQ?
HFEQ has an expense ratio of 0.96% while QQQ charges 0.18%. QQQ is the cheaper option, by $78 a year on a $10,000 investment.
Which performed better, HFEQ or QQQ?
Over the past year HFEQ returned +17.76% vs +22.10% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), HFEQ annualized +24.54% vs +24.53% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HFEQ or QQQ?
QQQ has been the more volatile fund at 20.5% annualized versus 16.2% for HFEQ. Worst drawdown: HFEQ -12.5% vs QQQ -12.0%.
Should I hold both HFEQ and QQQ?
HFEQ and QQQ have a monthly-return correlation of 0.70, 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, HFEQ or QQQ?
HFEQ yields 9.14% while QQQ yields 0.44%, so HFEQ currently pays the higher dividend yield.
Is QQQ better than HFEQ?
QQQ has a lower expense ratio. HFEQ led over the full window, QQQ over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.