QQQ vs SMAX
Invesco QQQ Trust, Series 1 vs iShares Large Cap Max Buffer Sep ETF
Which is better, QQQ or SMAX?
Large Cap Growth against Option Writing.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window.
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 | SMAX |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.50% |
| AUM | $483.5B | $88M |
| Dividend Yield | 0.44% | 0.74% |
| Holdings | 107 | 7 |
| YTD Return | +16.87%Best | +5.12% |
| 1Y Return | +22.98%Best | +6.35% |
| 3Y Return (annualized) | +24.98% | - |
| 5Y Return (annualized) | +14.39% | - |
| Volatility (annualized) | 18.9% | 3.2%Best |
| Max Drawdown | -22.8% | -3.9%Best |
| $10,000 over 1.9 years | $14,853Best | $11,325 |
| Fund Family | Invesco (US) | iShares by BlackRock (US) |
| Category | Equity | Alternative |
| Style | Large Cap Growth | Option Writing |
| Inception | Mar 10, 1999 | Sep 30, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Oct 1, 2024 to Sep 11, 2026 (1.9 years).
QQQ vs SMAX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
QQQ vs SMAX Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and iShares Large Cap Max Buffer Sep ETF (SMAX) is an ETF from iShares by BlackRock (US). Over the past year QQQ returned +22.98% while SMAX returned +6.35%. Year to date, QQQ is up 16.87% versus a gain of 5.12% for SMAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 3.2% for SMAX. 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 -22.8% for QQQ and -3.9% for SMAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SMAX charges 0.50%. On a $10,000 position that is $18 vs $50 annually, a gap of $32 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.74% for SMAX.
Holdings Overlap
We hold position weights for 102 holdings in QQQ and 3 in SMAX, totalling 99.9% and 107.0% 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 102 positions we hold weights for in QQQ and 3 in SMAX, against full books of 107 and 7.
You are not choosing between two funds in isolation.
Whichever of QQQ and SMAX 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 SMAX?
QQQ has an expense ratio of 0.18% while SMAX charges 0.50%. QQQ is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, QQQ or SMAX?
Over the past year QQQ returned +22.98% vs +6.35% for SMAX, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), QQQ annualized +23.15% vs +6.77% for SMAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SMAX?
QQQ has been the more volatile fund at 18.9% annualized versus 3.2% for SMAX. Worst drawdown: QQQ -22.8% vs SMAX -3.9%.
Should I hold both QQQ and SMAX?
QQQ and SMAX have a monthly-return correlation of 0.84, 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 SMAX?
QQQ yields 0.44% while SMAX yields 0.74%, so SMAX currently pays the higher dividend yield.
Is SMAX better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.