MVPL vs QQQ
Miller Value Partners Leverage ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. MVPL delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | MVPL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.72% | 0.18% | |
| AUM | $27M | $496.3B | |
| Dividend Yield | 0.94% | 0.44% | |
| Holdings | 2 | 108 | |
| YTD Return | +21.52% | +16.64% | |
| 1Y Return | +34.24% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 21.6% | 30.6% | |
| Max Drawdown | -25.7% | -83.0% | |
| Fund Family | Miller Value Funds | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Feb 28, 2024 | Mar 10, 1999 |
MVPL vs QQQ Performance
Miller Value Partners Leverage ETF (MVPL) is a ETF from Miller Value Funds and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year MVPL returned +34.24% while QQQ returned +27.27%. Year to date, MVPL is up 21.52% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 21.6% for MVPL. 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 MVPL 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MVPL charges 1.72% per year while QQQ charges 0.18%. On a $10,000 position that is $172 vs $18 annually, a gap of $154 per year that compounds over a long holding period. On income, MVPL currently yields 0.94% against 0.44% for QQQ.
Holdings Overlap
MVPL 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, MVPL or QQQ?
MVPL has an expense ratio of 1.72% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $154 per year of difference.
Which performed better, MVPL or QQQ?
Over the past year MVPL returned +34.24% vs +27.27% for QQQ, so MVPL leads on 1-year performance. Over the longest common window we track (3 years), MVPL annualized +29.45% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, MVPL or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 21.6% for MVPL. Worst drawdown: MVPL -25.7% vs QQQ -83.0%.
Should I hold both MVPL and QQQ?
MVPL and QQQ have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between MVPL and QQQ?
MVPL and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, MVPL or QQQ?
MVPL yields 0.94% while QQQ yields 0.44%, so MVPL currently pays the higher dividend yield.
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