QQQ vs TBX
Invesco QQQ Trust, Series 1 vs ProShares Short 7-10 Year Treasury
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | TBX | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.95% | |
| AUM | $496.3B | $21M | |
| Dividend Yield | 0.44% | 2.84% | |
| Holdings | 108 | 5 | |
| YTD Return | +16.64% | +4.75% | |
| 1Y Return | +27.27% | +4.52% | |
| 3Y Return (annualized) | +25.96% | +2.20% | |
| 5Y Return (annualized) | +14.54% | +6.24% | |
| Volatility (annualized) | 30.6% | 6.4% | |
| Max Drawdown | -83.0% | -42.4% | |
| Fund Family | Invesco (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Apr 4, 2011 |
QQQ vs TBX Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and ProShares Short 7-10 Year Treasury (TBX) is a ETF from ProShares. Over the past year QQQ returned +27.27% while TBX returned +4.52%. Year to date, QQQ is up 16.64% versus a gain of 4.75% for TBX.
Over three years, QQQ compounded at +25.96% per year against +2.20% for TBX; over five years the annualized figures are +14.54% and +6.24% respectively. Across the full 15-year window we track, QQQ has the edge at +13.03% annualized vs -1.36%. 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 6.4% for TBX. 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 -42.4% for TBX. 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 -0.09. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while TBX charges 0.95%. On a $10,000 position that is $18 vs $95 annually, a gap of $77 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 2.84% for TBX.
Holdings Overlap
QQQ and TBX share 0 holdings out of 103 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 TBX?
QQQ has an expense ratio of 0.18% while TBX charges 0.95%. QQQ is the cheaper option. On a $10,000 investment, that is $77 per year of difference.
Which performed better, QQQ or TBX?
Over the past year QQQ returned +27.27% vs +4.52% for TBX, so QQQ leads on 1-year performance. Over the longest common window we track (15 years), QQQ annualized +13.03% vs -1.36% for TBX. Past performance does not guarantee future results.
Which is riskier, QQQ or TBX?
QQQ has been the more volatile fund at 30.6% annualized versus 6.4% for TBX. Worst drawdown: QQQ -83.0% vs TBX -42.4%.
Should I hold both QQQ and TBX?
QQQ and TBX have a monthly-return correlation of -0.09, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and TBX?
QQQ and TBX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, QQQ or TBX?
QQQ yields 0.44% while TBX yields 2.84%, so TBX currently pays the higher dividend yield.
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