QQQ vs TCAL
Invesco QQQ Trust, Series 1 vs T. Rowe Price Capital Appreciation Premium Income ETF
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. TCAL offers more diversification with 290 holdings.
Side-by-Side Comparison
| Metric | QQQ | TCAL | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.31% | |
| AUM | $496.3B | $303M | |
| Dividend Yield | 0.44% | 11.52% | |
| Holdings | 108 | 290 | |
| YTD Return | +19.52% | +5.02% | |
| 1Y Return | +26.68% | +4.64% | |
| 3Y Return (annualized) | +26.64% | - | |
| 5Y Return (annualized) | +15.36% | - | |
| Volatility (annualized) | 30.6% | 7.1% | |
| Max Drawdown | -83.0% | -7.2% | |
| Fund Family | Invesco (US) | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | Mar 10, 1999 | Mar 26, 2025 |
QQQ vs TCAL Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL) is a ETF from T.Rowe Price. Over the past year QQQ returned +26.68% while TCAL returned +4.64%. Year to date, QQQ is up 19.52% versus a gain of 5.02% for TCAL.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 7.1% for TCAL. 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 -7.2% for TCAL. 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 0.10. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while TCAL charges 0.31%. On a $10,000 position that is $18 vs $31 annually, a gap of $13 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 11.52% for TCAL.
Holdings Overlap
QQQ and TCAL share 26 holdings out of 180 unique holdings combined, representing a 16.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or TCAL?
QQQ has an expense ratio of 0.18% while TCAL charges 0.31%. QQQ is the cheaper option. On a $10,000 investment, that is $13 per year of difference.
Which performed better, QQQ or TCAL?
Over the past year QQQ returned +26.68% vs +4.64% for TCAL, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +13.14% vs +5.01% for TCAL. Past performance does not guarantee future results.
Which is riskier, QQQ or TCAL?
QQQ has been the more volatile fund at 30.6% annualized versus 7.1% for TCAL. Worst drawdown: QQQ -83.0% vs TCAL -7.2%.
Should I hold both QQQ and TCAL?
QQQ and TCAL have a monthly-return correlation of 0.10, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and TCAL?
QQQ and TCAL share 26 common holdings with a 16.9% weight overlap. Combined, they hold 180 unique securities.
Which pays a higher dividend, QQQ or TCAL?
QQQ yields 0.44% while TCAL yields 11.52%, so TCAL currently pays the higher dividend yield.
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