HYHG vs QQQ
ProShares High Yield-Interest Rate Hedged ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. HYHG offers more diversification with 241 holdings.
Side-by-Side Comparison
| Metric | HYHG | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.18% | |
| AUM | $200M | $496.3B | |
| Dividend Yield | 6.74% | 0.44% | |
| Holdings | 241 | 108 | |
| YTD Return | +0.62% | +16.19% | |
| 1Y Return | +2.31% | +25.22% | |
| 3Y Return (annualized) | +7.14% | +25.47% | |
| 5Y Return (annualized) | +6.19% | +14.34% | |
| Volatility (annualized) | 7.3% | 30.6% | |
| Max Drawdown | -25.7% | -83.0% | |
| Fund Family | ProShares | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | May 21, 2013 | Mar 10, 1999 |
HYHG vs QQQ Performance
ProShares High Yield-Interest Rate Hedged ETF (HYHG) is a ETF from ProShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year HYHG returned +2.31% while QQQ returned +25.22%. Year to date, HYHG is up 0.62% versus a gain of 16.19% for QQQ.
Over three years, HYHG compounded at +7.14% per year against +25.47% for QQQ; over five years the annualized figures are +6.19% and +14.34% respectively. Across the full 13-year window we track, QQQ has the edge at +13.01% annualized vs +3.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 7.3% for HYHG. 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 -25.7% for HYHG 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HYHG 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, HYHG currently yields 6.74% against 0.44% for QQQ.
Holdings Overlap
HYHG and QQQ share 0 holdings out of 297 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HYHG or QQQ?
HYHG has an expense ratio of 0.50% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, HYHG or QQQ?
Over the past year HYHG returned +2.31% vs +25.22% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (13 years), HYHG annualized +3.84% vs +13.01% for QQQ. Past performance does not guarantee future results.
Which is riskier, HYHG or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 7.3% for HYHG. Worst drawdown: HYHG -25.7% vs QQQ -83.0%.
Should I hold both HYHG and QQQ?
HYHG and QQQ have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYHG and QQQ?
HYHG and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 297 unique securities.
Which pays a higher dividend, HYHG or QQQ?
HYHG yields 6.74% while QQQ yields 0.44%, so HYHG currently pays the higher dividend yield.
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