QQQ vs SMLL
Invesco QQQ Trust, Series 1 vs Harbor Active Small Cap ETF
Which is better, QQQ or SMLL?
Large Cap Growth against Small Cap Blend.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. SMLL is less concentrated, with 36.3% 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 | SMLL |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.80% |
| AUM | $483.5B | $14M |
| Dividend Yield | 0.44% | 1.49% |
| Holdings | 107 | 51 |
| YTD Return | +21.16%Best | +1.42% |
| 1Y Return | +24.78%Best | -4.98% |
| 3Y Return (annualized) | +27.95% | - |
| 5Y Return (annualized) | +15.36% | - |
| Volatility (annualized) | 18.2% | 17.6%Best |
| Max Drawdown | -22.8%Best | -23.6% |
| $10,000 over 2.1 years | $16,018Best | $10,444 |
| Top 10 Weight | 46.5% | 36.3%Best |
| Fund Family | Invesco (US) | Harbor Funds |
| Category | Equity | Equity |
| Style | Large Cap Growth | Small Cap Blend |
| Inception | Mar 10, 1999 | Aug 27, 2024 |
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Aug 29, 2024 to Sep 24, 2026 (2.1 years).
QQQ vs SMLL 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 2.1 years both funds cover.
QQQ vs SMLL Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Harbor Active Small Cap ETF (SMLL) is an ETF from Harbor Funds. Over the past year QQQ returned +24.78% while SMLL returned -4.98%. Year to date, QQQ is up 21.16% versus a gain of 1.42% for SMLL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 17.6% for SMLL. 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 -23.6% for SMLL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.51. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while SMLL charges 0.80%. On a $10,000 position that is $18 vs $80 annually, a gap of $62 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 1.49% for SMLL.
Holdings Overlap
We hold position weights for 102 holdings in QQQ and 51 in SMLL, totalling 99.9% and 97.6% 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 51 in SMLL, against full books of 107 and 51.
What only one of them owns
Measured across the 102 and 51 positions we hold weights for.
QQQ holds 96 positions SMLL does not, 97.5% of the fund.
Largest: NVDA 8.44%, AAPL 7.27%, MSFT 5.76%, AMZN 4.67%, MU 4.43%
You are not choosing between two funds in isolation.
Whichever of QQQ and SMLL 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 SMLL?
QQQ has an expense ratio of 0.18% while SMLL charges 0.80%. QQQ is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, QQQ or SMLL?
Over the past year QQQ returned +24.78% vs -4.98% for SMLL, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), QQQ annualized +25.15% vs +2.09% for SMLL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SMLL?
QQQ has been the more volatile fund at 18.2% annualized versus 17.6% for SMLL. Worst drawdown: QQQ -22.8% vs SMLL -23.6%.
Should I hold both QQQ and SMLL?
QQQ and SMLL have a monthly-return correlation of 0.51, 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 SMLL?
QQQ yields 0.44% while SMLL yields 1.49%, so SMLL currently pays the higher dividend yield.
Is SMLL better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. SMLL is less concentrated, with 36.3% 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.