PRVT vs QQQ
Tema Listed Private Managers ETF vs Invesco QQQ Trust, Series 1
Which is better, PRVT or QQQ?
Multi Alternative against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 52.1%.
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 | PRVT | QQQ |
|---|---|---|
| Expense Ratio | 0.75% | 0.18%Best |
| AUM | $233,024.57 | $483.5B |
| Dividend Yield | 0.86% | 0.44% |
| Holdings | 28 | 107 |
| Volatility (annualized) | - | 17.3% |
| Max Drawdown | -20.4%Best | -22.8% |
| $10,000 over 3.2 years | $11,858 | $19,797Best |
| Top 10 Weight | 52.1% | 46.5%Best |
| Fund Family | Tema Global Limited | Invesco (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Growth |
| Inception | Oct 1, 2025 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 16 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. PRVT has data through Sep 2, 2026 and QQQ through Sep 18, 2026.
Volatility and max drawdown, and the $10,000 over 3.2 years row, are measured over the window both funds cover: Jun 13, 2023 to Sep 2, 2026 (3.2 years).
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -20.4% for PRVT and -22.8% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
Fees and Cost Over Time
PRVT charges 0.75% per year while QQQ charges 0.18%. On a $10,000 position that is $75 vs $18 annually, a gap of $57 per year that compounds over a long holding period. On income, PRVT currently yields 0.86% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 27 holdings in PRVT 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.
0 positions in common, counted across the 27 positions we hold weights for in PRVT and 102 in QQQ, against full books of 28 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for PRVT (97.5% of the fund), and 12 for PRVT that do not appear in QQQ (55.4%).
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 PRVT 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, PRVT or QQQ?
PRVT has an expense ratio of 0.75% while QQQ charges 0.18%. QQQ is the cheaper option, by $57 a year on a $10,000 investment.
Which pays a higher dividend, PRVT or QQQ?
PRVT yields 0.86% while QQQ yields 0.44%, so PRVT currently pays the higher dividend yield.
Is QQQ better than PRVT?
QQQ has a lower expense ratio. QQQ led over the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 52.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.