KBWR vs QQQ
Invesco KBW Regional Banking ETF vs Invesco QQQ Trust, Series 1
Which is better, KBWR or QQQ?
Small Cap Value against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. KBWR is less concentrated, with 29.9% 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 | KBWR | QQQ |
|---|---|---|
| Expense Ratio | 0.35% | 0.18%Best |
| AUM | $52M | $483.5B |
| Dividend Yield | 2.65% | 0.44% |
| Holdings | 52 | 107 |
| Volatility (annualized) | 27.1% | 17.0%Best |
| Max Drawdown | -52.9% | -35.1%Best |
| $10,000 over 14.3 years | $42,732 | $111,117Best |
| Top 10 Weight | 29.9%Best | 46.5% |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Growth |
| Inception | Nov 1, 2011 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 217 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. KBWR has data through Feb 20, 2026 and QQQ through Sep 25, 2026.
Volatility and max drawdown, and the $10,000 over 14.3 years row, are measured over the window both funds cover: Nov 1, 2011 to Feb 20, 2026 (14.3 years).
Risk: Volatility and Drawdowns
KBWR has been the more volatile fund, with annualized monthly volatility of 27.1% compared with 17.0% 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 -52.9% for KBWR 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 0.34. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KBWR charges 0.35% per year while QQQ charges 0.18%. On a $10,000 position that is $35 vs $18 annually, a gap of $17 per year that compounds over a long holding period. On income, KBWR currently yields 2.65% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 51 holdings in KBWR and 102 in QQQ, totalling 100.0% 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 309 days apart, KBWR as of Sep 30, 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 51 positions we hold weights for in KBWR and 102 in QQQ, against full books of 52 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for KBWR (97.5% of the fund), and 50 for KBWR that do not appear in QQQ (98.1%).
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.
You are not choosing between two funds in isolation.
Whichever of KBWR 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, KBWR or QQQ?
KBWR has an expense ratio of 0.35% while QQQ charges 0.18%. QQQ is the cheaper option, by $17 a year on a $10,000 investment.
Which is riskier, KBWR or QQQ?
KBWR has been the more volatile fund at 27.1% annualized versus 17.0% for QQQ. Worst drawdown: KBWR -52.9% vs QQQ -35.1%.
Should I hold both KBWR and QQQ?
KBWR and QQQ have a monthly-return correlation of 0.34, 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, KBWR or QQQ?
KBWR yields 2.65% while QQQ yields 0.44%, so KBWR currently pays the higher dividend yield.
Is QQQ better than KBWR?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. KBWR is less concentrated, with 29.9% 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.