QQQ vs SAEF
Invesco QQQ Trust, Series 1 vs Schwab Ariel Opportunities ETF
Which is better, QQQ or SAEF?
Large Cap Growth against Mid Cap Blend.
QQQ has a lower expense ratio. QQQ led over the full window, SAEF over 1Y. SAEF is less concentrated, with 34.4% of the fund in its ten largest positions against 46.5%.
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 | QQQ | SAEF |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.59% |
| AUM | $486.1B | $19M |
| Dividend Yield | 0.44% | 0.33% |
| Holdings | 107 | 59 |
| Volatility (annualized) | 21.3%Best | 24.6% |
| Max Drawdown | -35.1% | -28.1%Best |
| $10,000 over 4.7 years | $18,088Best | $9,883 |
| Top 10 Weight | 46.5% | 34.4%Best |
| Fund Family | Invesco (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Mid Cap Blend |
| Inception | Mar 10, 1999 | Nov 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 49 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QQQ has data through Sep 4, 2026 and SAEF through Jul 17, 2026.
Volatility and max drawdown, and the $10,000 over 4.7 years row, are measured over the window both funds cover: Nov 16, 2021 to Jul 17, 2026 (4.7 years).
Risk: Volatility and Drawdowns
SAEF has been the more volatile fund, with annualized monthly volatility of 24.6% compared with 21.3% 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 -35.1% for QQQ and -28.1% for SAEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while SAEF charges 0.59%. On a $10,000 position that is $18 vs $59 annually, a gap of $41 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.33% for SAEF.
Holdings Overlap
We hold position weights for 102 holdings in QQQ and 58 in SAEF, totalling 99.9% and 97.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 127 days apart, QQQ as of Aug 5, 2026 and SAEF as of Mar 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 102 positions we hold weights for in QQQ and 58 in SAEF, against full books of 107 and 59.
What only one of them owns
Our book lists 55 positions for SAEF that do not appear in our book for QQQ (93.2% of the fund), and 96 for QQQ that do not appear in SAEF (97.5%).
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 QQQ and SAEF 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, QQQ or SAEF?
QQQ has an expense ratio of 0.18% while SAEF charges 0.59%. QQQ is the cheaper option, by $41 a year on a $10,000 investment.
Which is riskier, QQQ or SAEF?
SAEF has been the more volatile fund at 24.6% annualized versus 21.3% for QQQ. Worst drawdown: QQQ -35.1% vs SAEF -28.1%.
Should I hold both QQQ and SAEF?
QQQ and SAEF have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, QQQ or SAEF?
QQQ yields 0.44% while SAEF yields 0.33%, so QQQ currently pays the higher dividend yield.
Is SAEF better than QQQ?
QQQ has a lower expense ratio. QQQ led over the full window, SAEF over 1Y. SAEF is less concentrated, with 34.4% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.