NOWL vs QQQ
GraniteShares 2x Long NOW 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 | NOWL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.18% | |
| AUM | $234M | $496.3B | |
| Dividend Yield | 0.00% | 0.44% | |
| Holdings | 2 | 108 | |
| YTD Return | -48.43% | +16.64% | |
| 1Y Return | -66.77% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 122.1% | 30.6% | |
| Max Drawdown | -86.6% | -83.0% | |
| Fund Family | GraniteShares | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Jul 15, 2025 | Mar 10, 1999 |
NOWL vs QQQ Performance
GraniteShares 2x Long NOW Daily ETF (NOWL) is a ETF from GraniteShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NOWL returned -66.77% while QQQ returned +27.27%. Year to date, NOWL is down 48.43% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
NOWL has been the more volatile fund, with annualized monthly volatility of 122.1% 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 -86.6% for NOWL 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 0.21. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NOWL 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, NOWL currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
NOWL 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, NOWL or QQQ?
NOWL 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, NOWL or QQQ?
Over the past year NOWL returned -66.77% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), NOWL annualized -69.25% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, NOWL or QQQ?
NOWL has been the more volatile fund at 122.1% annualized versus 30.6% for QQQ. Worst drawdown: NOWL -86.6% vs QQQ -83.0%.
Should I hold both NOWL and QQQ?
NOWL and QQQ have a monthly-return correlation of 0.21, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NOWL and QQQ?
NOWL and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, NOWL or QQQ?
NOWL yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.