KMF vs QQQ
Kayne Anderson NextGen Energy & Infrastructure Inc vs Invesco QQQ Trust, Series 1
Which is better, KMF or QQQ?
Mid Cap Value against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window.
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 | KMF | QQQ |
|---|---|---|
| Expense Ratio | 3.20% | 0.18%Best |
| AUM | $501M | $483.5B |
| Dividend Yield | 0.00% | 0.44% |
| Holdings | 39 | 107 |
| Volatility (annualized) | 33.2% | 17.3%Best |
| Max Drawdown | -94.3% | -35.1%Best |
| $10,000 over 15.6 years | $9,409 | $138,492Best |
| Fund Family | Kayne Anderson Capital Advisors | Invesco (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Growth |
| Inception | Nov 24, 2010 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 70 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. KMF has data through Jul 2, 2026 and QQQ through Sep 10, 2026.
Volatility and max drawdown, and the $10,000 over 15.6 years row, are measured over the window both funds cover: Nov 24, 2010 to Jul 2, 2026 (15.6 years).
Risk: Volatility and Drawdowns
KMF has been the more volatile fund, with annualized monthly volatility of 33.2% compared with 17.3% 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 -94.3% for KMF 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 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KMF charges 3.20% per year while QQQ charges 0.18%. On a $10,000 position that is $320 vs $18 annually, a gap of $302 per year that compounds over a long holding period. On income, KMF currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
At least 0.2% of QQQ's money is in holdings KMF also owns.
Only one direction is shown: for KMF, our book for it lists positions totalling 113.5% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 1070 days apart, KMF as of Aug 31, 2023 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.
1 positions in common, counted across the 31 positions we hold weights for in KMF and 102 in QQQ, against full books of 39 and 107.
Top Shared Holdings
| Stock | Weight in KMF | Weight in QQQ | Difference |
|---|---|---|---|
| XELXcel Energy Inc. | 0.97% | 0.21% | 0.76% |
You are not choosing between two funds in isolation.
Whichever of KMF 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, KMF or QQQ?
KMF has an expense ratio of 3.20% while QQQ charges 0.18%. QQQ is the cheaper option, by $302 a year on a $10,000 investment.
Which is riskier, KMF or QQQ?
KMF has been the more volatile fund at 33.2% annualized versus 17.3% for QQQ. Worst drawdown: KMF -94.3% vs QQQ -35.1%.
Should I hold both KMF and QQQ?
KMF and QQQ have a monthly-return correlation of 0.52, 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, KMF or QQQ?
KMF yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Is QQQ better than KMF?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.