QQQ vs RAAA
Invesco QQQ Trust, Series 1 vs Reckoner Yield Enhanced AAA CLO ETF
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | QQQ | RAAA | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.30% | |
| AUM | $455.8B | $35M | |
| Dividend Yield | 0.41% | 4.78% | |
| Holdings | 108 | 46 | |
| YTD Return | +19.68% | +2.55% | |
| 1Y Return | +26.75% | +4.82% | |
| 3Y Return (annualized) | +26.25% | - | |
| 5Y Return (annualized) | +15.39% | - | |
| Volatility (annualized) | 30.6% | 1.2% | |
| Max Drawdown | -83.0% | -0.7% | |
| Fund Family | Invesco (US) | Reckoner Capital Management | |
| Category | Equity | Fixed Income | |
| Inception | Mar 10, 1999 | Jul 9, 2025 |
QQQ vs RAAA Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Reckoner Yield Enhanced AAA CLO ETF (RAAA) is a ETF from Reckoner Capital Management. Over the past year QQQ returned +26.75% while RAAA returned +4.82%. Year to date, QQQ is up 19.68% versus a gain of 2.55% for RAAA.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 1.2% for RAAA. 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 -83.0% for QQQ and -0.7% for RAAA. 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 0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while RAAA charges 0.30%. On a $10,000 position that is $18 vs $30 annually, a gap of $12 per year that compounds over a long holding period. On income, QQQ currently yields 0.41% against 4.78% for RAAA.
Holdings Overlap
QQQ and RAAA share 0 holdings out of 109 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, QQQ or RAAA?
QQQ has an expense ratio of 0.18% while RAAA charges 0.30%. QQQ is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, QQQ or RAAA?
Over the past year QQQ returned +26.75% vs +4.82% for RAAA, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +13.15% vs +4.74% for RAAA. Past performance does not guarantee future results.
Which is riskier, QQQ or RAAA?
QQQ has been the more volatile fund at 30.6% annualized versus 1.2% for RAAA. Worst drawdown: QQQ -83.0% vs RAAA -0.7%.
Should I hold both QQQ and RAAA?
QQQ and RAAA have a monthly-return correlation of 0.35, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and RAAA?
QQQ and RAAA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 109 unique securities.
Which pays a higher dividend, QQQ or RAAA?
QQQ yields 0.41% while RAAA yields 4.78%, so RAAA currently pays the higher dividend yield.
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