QQQ vs TBLL
Invesco QQQ Trust, Series 1 vs Invesco Short Term Treasury ETF
Quick Verdict
TBLL has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | TBLL | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.08% | |
| AUM | $496.3B | $2.8B | |
| Dividend Yield | 0.44% | 3.69% | |
| Holdings | 108 | 92 | |
| YTD Return | +16.23% | +2.21% | |
| 1Y Return | +26.23% | +3.79% | |
| 3Y Return (annualized) | +25.75% | +4.55% | |
| 5Y Return (annualized) | +14.78% | +3.52% | |
| Volatility (annualized) | 30.6% | 0.8% | |
| Max Drawdown | -83.0% | -1.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Fixed Income | |
| Inception | Mar 10, 1999 | Jan 10, 2017 |
QQQ vs TBLL Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Invesco Short Term Treasury ETF (TBLL) is a ETF from Invesco (US). Over the past year QQQ returned +26.23% while TBLL returned +3.79%. Year to date, QQQ is up 16.23% versus a gain of 2.21% for TBLL.
Over three years, QQQ compounded at +25.75% per year against +4.55% for TBLL; over five years the annualized figures are +14.78% and +3.52% respectively. Across the full 10-year window we track, QQQ has the edge at +13.02% annualized vs +1.85%. 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 0.8% for TBLL. 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 -1.0% for TBLL. 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 0.02. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while TBLL charges 0.08%. On a $10,000 position that is $18 vs $8 annually, a gap of $10 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 3.69% for TBLL.
Holdings Overlap
QQQ and TBLL share 0 holdings out of 149 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 TBLL?
QQQ has an expense ratio of 0.18% while TBLL charges 0.08%. TBLL is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, QQQ or TBLL?
Over the past year QQQ returned +26.23% vs +3.79% for TBLL, so QQQ leads on 1-year performance. Over the longest common window we track (10 years), QQQ annualized +13.02% vs +1.85% for TBLL. Past performance does not guarantee future results.
Which is riskier, QQQ or TBLL?
QQQ has been the more volatile fund at 30.6% annualized versus 0.8% for TBLL. Worst drawdown: QQQ -83.0% vs TBLL -1.0%.
Should I hold both QQQ and TBLL?
QQQ and TBLL have a monthly-return correlation of 0.02, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and TBLL?
QQQ and TBLL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 149 unique securities.
Which pays a higher dividend, QQQ or TBLL?
QQQ yields 0.44% while TBLL yields 3.69%, so TBLL currently pays the higher dividend yield.
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