OND vs QQQ
Proshares On Demand ETF vs Invesco QQQ Trust, Series 1
Which is better, OND or QQQ?
Large Cap Value against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.7% of the fund in its ten largest positions against 49.7%.
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 | OND | QQQ |
|---|---|---|
| Expense Ratio | 0.58% | 0.18%Best |
| AUM | $2M | $506.1B |
| Dividend Yield | 0.00% | 0.42% |
| Holdings | 27 | 321 |
| Volatility (annualized) | 24.4% | 20.7%Best |
| Max Drawdown | -59.0% | -35.1%Best |
| $10,000 over 5 years | $8,548 | $20,351Best |
| Top 10 Weight | 49.7% | 46.7%Best |
| Fund Family | ProShares | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Growth |
| Inception | Oct 26, 2021 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 18 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. OND has data through Oct 12, 2026 and QQQ through Oct 30, 2026.
Volatility and max drawdown, and the $10,000 over 5 years row, are measured over the window both funds cover: Oct 27, 2021 to Oct 12, 2026 (5 years).
Risk: Volatility and Drawdowns
OND has been the more volatile fund, with annualized monthly volatility of 24.4% compared with 20.7% 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 -59.0% for OND 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
OND charges 0.58% per year while QQQ charges 0.18%. On a $10,000 position that is $58 vs $18 annually, a gap of $40 per year that compounds over a long holding period. On income, OND currently yields 0.00% against 0.42% for QQQ.
Holdings Overlap
20.1% of OND's money is in holdings QQQ also owns. 10.0% of QQQ's money is in holdings OND also owns.
OND and QQQ share little of their money.
4 positions in common, counted across the 27 positions we hold weights for in OND and 101 in QQQ, against full books of 27 and 321.
What only one of them owns
Our book lists 90 positions for QQQ that do not appear in our book for OND (87.2% of the fund), and 6 for OND that do not appear in QQQ (20.0%).
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.
20.1% of OND is already inside QQQ.
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, OND or QQQ?
OND has an expense ratio of 0.58% while QQQ charges 0.18%. QQQ is the cheaper option, by $40 a year on a $10,000 investment.
Which is riskier, OND or QQQ?
OND has been the more volatile fund at 24.4% annualized versus 20.7% for QQQ. Worst drawdown: OND -59.0% vs QQQ -35.1%.
Should I hold both OND and QQQ?
OND and QQQ have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between OND and QQQ?
20.1% of OND's money is in holdings QQQ also owns. 10.0% of QQQ's is in holdings OND also owns. They hold 4 positions in common, counted across the 27 positions we hold weights for in OND and 101 in QQQ.
Which pays a higher dividend, OND or QQQ?
OND yields 0.00% while QQQ yields 0.42%, so QQQ currently pays the higher dividend yield.
Is QQQ better than OND?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.7% of the fund in its ten largest positions against 49.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.