QQQ vs TAIL
Invesco QQQ Trust, Series 1 vs Cambria Tail Risk ETF
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 107 holdings.
Side-by-Side Comparison
| Metric | QQQ | TAIL | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.59% | |
| AUM | $486.1B | $145M | |
| Dividend Yield | 0.44% | 2.99% | |
| Holdings | 107 | 11 | |
| YTD Return | +17.18% | -10.76% | |
| 1Y Return | +27.33% | -12.43% | |
| 3Y Return (annualized) | +24.55% | -5.51% | |
| 5Y Return (annualized) | +14.22% | -9.35% | |
| Volatility (annualized) | 30.6% | 11.1% | |
| Max Drawdown | -83.0% | -54.0% | |
| Fund Family | Invesco (US) | Cambria Investment Management | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Apr 5, 2017 |
QQQ vs TAIL Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Cambria Tail Risk ETF (TAIL) is a ETF from Cambria Investment Management. Over the past year QQQ returned +27.33% while TAIL returned -12.43%. Year to date, QQQ is up 17.18% versus a loss of 10.76% for TAIL.
Over three years, QQQ compounded at +24.55% per year against -5.51% for TAIL; over five years the annualized figures are +14.22% and -9.35% respectively. Across the full 9-year window we track, QQQ has the edge at +13.04% annualized vs -7.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 11.1% for TAIL. 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 -54.0% for TAIL. 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 -0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while TAIL 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 2.99% for TAIL.
Holdings Overlap
QQQ and TAIL share 0 holdings out of 104 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 TAIL?
QQQ has an expense ratio of 0.18% while TAIL charges 0.59%. QQQ is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, QQQ or TAIL?
Over the past year QQQ returned +27.33% vs -12.43% for TAIL, so QQQ leads on 1-year performance. Over the longest common window we track (9 years), QQQ annualized +13.04% vs -7.52% for TAIL. Past performance does not guarantee future results.
Which is riskier, QQQ or TAIL?
QQQ has been the more volatile fund at 30.6% annualized versus 11.1% for TAIL. Worst drawdown: QQQ -83.0% vs TAIL -54.0%.
Should I hold both QQQ and TAIL?
QQQ and TAIL have a monthly-return correlation of -0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and TAIL?
QQQ and TAIL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, QQQ or TAIL?
QQQ yields 0.44% while TAIL yields 2.99%, so TAIL currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.