IONL vs QQQ
GraniteShares 2x Long IONQ Daily ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | IONL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.18% | |
| AUM | $88M | $496.3B | |
| Dividend Yield | 0.00% | 0.44% | |
| Holdings | 2 | 108 | |
| YTD Return | -52.77% | +16.64% | |
| 1Y Return | -49.59% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 211.2% | 30.6% | |
| Max Drawdown | -93.5% | -83.0% | |
| Fund Family | GraniteShares | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Mar 25, 2025 | Mar 10, 1999 |
IONL vs QQQ Performance
GraniteShares 2x Long IONQ Daily ETF (IONL) is a ETF from GraniteShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year IONL returned -49.59% while QQQ returned +27.27%. Year to date, IONL is down 52.77% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
IONL has been the more volatile fund, with annualized monthly volatility of 211.2% compared with 30.6% for QQQ. 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 -93.5% for IONL 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IONL charges 1.50% per year while QQQ charges 0.18%. On a $10,000 position that is $150 vs $18 annually, a gap of $132 per year that compounds over a long holding period. On income, IONL currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
IONL and QQQ share 0 holdings out of 103 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, IONL or QQQ?
IONL has an expense ratio of 1.50% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $132 per year of difference.
Which performed better, IONL or QQQ?
Over the past year IONL returned -49.59% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), IONL annualized -21.68% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, IONL or QQQ?
IONL has been the more volatile fund at 211.2% annualized versus 30.6% for QQQ. Worst drawdown: IONL -93.5% vs QQQ -83.0%.
Should I hold both IONL and QQQ?
IONL and QQQ have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IONL and QQQ?
IONL and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, IONL or QQQ?
IONL yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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