JUST vs QQQ
Goldman Sachs JUST US Large Cap Equity ETF vs Invesco QQQ Trust, Series 1
Which is better, JUST or QQQ?
Large Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. JUST is less concentrated, with 40.6% of the fund in its ten largest positions against 46.5%.
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 | JUST | QQQ |
|---|---|---|
| Expense Ratio | 0.20% | 0.18%Best |
| AUM | $570M | $483.5B |
| Dividend Yield | 0.93% | 0.44% |
| Holdings | 463 | 107 |
| YTD Return | +14.24% | +21.71%Best |
| 1Y Return | +19.40% | +25.89%Best |
| 3Y Return (annualized) | +23.18% | +28.80%Best |
| 5Y Return (annualized) | +12.57% | +15.67%Best |
| Volatility (annualized) | 16.7%Best | 20.4% |
| Max Drawdown | -33.8%Best | -35.1% |
| $10,000 over 5 years | $18,076 | $20,706Best |
| Top 10 Weight | 40.6%Best | 46.5% |
| Fund Family | Goldman Sachs Asset Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jun 7, 2018 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Jun 13, 2018 to Sep 25, 2026 (8.3 years).
JUST 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 8.3 years both funds cover.
JUST vs QQQ Performance
Goldman Sachs JUST US Large Cap Equity ETF (JUST) is an ETF from Goldman Sachs Asset Management and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year JUST returned +19.40% while QQQ returned +25.89%. Year to date, JUST is up 14.24% versus a gain of 21.71% for QQQ.
Over three years, JUST compounded at +23.18% per year against +28.80% for QQQ; over five years the annualized figures are +12.57% and +15.67% respectively. Across the full 8-year window we track, QQQ has the edge at +19.50% annualized vs +13.79%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 20.4% compared with 16.7% for JUST. 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 -33.8% for JUST and -35.1% 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
JUST charges 0.20% per year while QQQ charges 0.18%. On a $10,000 position that is $20 vs $18 annually, a gap of $2 per year that compounds over a long holding period. On income, JUST currently yields 0.93% against 0.44% for QQQ.
Holdings Overlap
52.4% of JUST's money is in holdings QQQ also owns. 80.1% of QQQ's money is in holdings JUST also owns.
Most of QQQ is already inside JUST. Owning both mostly buys the same companies twice.
65 positions in common, counted across the 461 positions we hold weights for in JUST and 102 in QQQ, against full books of 463 and 107.
What only one of them owns
Our book lists 31 positions for QQQ that do not appear in our book for JUST (17.4% of the fund), and 386 for JUST that do not appear in QQQ (47.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in JUST | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.36% | 8.44% | 0.08% |
| AAPLApple, Inc | 7.39% | 7.27% | 0.12% |
| MSFTMicrosoft Corp | 6.09% | 5.76% | 0.33% |
| AMZNAmazon.Com Inc | 4.96% | 4.67% | 0.29% |
| GOOGLAlphabet Inc,class A | 3.20% | 3.36% | 0.16% |
| MUMicron Technology, Inc. | 1.73% | 4.43% | 2.70% |
| AVGOBroadcom Inc | 2.77% | 3.16% | 0.39% |
| GOOGAlphabet Inc | 2.58% | 3.13% | 0.55% |
| AMDAdvanced Micro Devices Inc | 1.23% | 3.45% | 2.22% |
| WMTWalmart, Inc. | 0.91% | 2.41% | 1.50% |
80.1% of QQQ is already inside JUST.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JUST or QQQ?
JUST has an expense ratio of 0.20% while QQQ charges 0.18%. QQQ is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, JUST or QQQ?
Over the past year JUST returned +19.40% vs +25.89% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (8 years), JUST annualized +13.79% vs +19.50% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JUST or QQQ?
QQQ has been the more volatile fund at 20.4% annualized versus 16.7% for JUST. Worst drawdown: JUST -33.8% vs QQQ -35.1%.
Should I hold both JUST and QQQ?
JUST 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.
What is the holdings overlap between JUST and QQQ?
80.1% of QQQ's money is in holdings JUST also owns. 80.1% of QQQ's is in holdings JUST also owns. They hold 65 positions in common, counted across the 461 positions we hold weights for in JUST and 102 in QQQ.
Which pays a higher dividend, JUST or QQQ?
JUST yields 0.93% while QQQ yields 0.44%, so JUST currently pays the higher dividend yield.
Is QQQ better than JUST?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. JUST is less concentrated, with 40.6% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.