QQQ vs THEQ
Invesco QQQ Trust, Series 1 vs T. Rowe Price Hedged Equity ETF
Which is better, QQQ or THEQ?
Large Cap Growth against Large Cap Blend.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 90.2%.
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 | THEQ |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.46% |
| AUM | $483.5B | $39M |
| Dividend Yield | 0.44% | 0.73% |
| Holdings | 107 | 120 |
| YTD Return | +15.18%Best | +6.84% |
| 1Y Return | +19.65%Best | +9.08% |
| 3Y Return (annualized) | +24.60% | - |
| 5Y Return (annualized) | +13.94% | - |
| Volatility (annualized) | 19.4% | 8.2%Best |
| Max Drawdown | -13.6% | -8.1%Best |
| $10,000 over 1.5 years | $14,831Best | $12,103 |
| Top 10 Weight | 46.5%Best | 90.2% |
| Fund Family | Invesco (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Mar 26, 2025 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Sep 15, 2026 (1.5 years).
QQQ vs THEQ 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 1.5 years both funds cover.
QQQ vs THEQ Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and T. Rowe Price Hedged Equity ETF (THEQ) is an ETF from T.Rowe Price. Over the past year QQQ returned +19.65% while THEQ returned +9.08%. Year to date, QQQ is up 15.18% versus a gain of 6.84% for THEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.4% compared with 8.2% for THEQ. 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 -13.6% for QQQ and -8.1% for THEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QQQ charges 0.18% per year while THEQ charges 0.46%. On a $10,000 position that is $18 vs $46 annually, a gap of $28 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.73% for THEQ.
Holdings Overlap
56.0% of QQQ's money is in holdings THEQ also owns. 2.9% of THEQ's money is in holdings QQQ also owns.
The two portfolios partly overlap.
32 positions in common, counted across the 102 positions we hold weights for in QQQ and 110 in THEQ, against full books of 107 and 120.
What only one of them owns
Our book lists 73 positions for THEQ that do not appear in our book for QQQ (95.9% of the fund), and 64 for QQQ that do not appear in THEQ (41.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in THEQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 0.23% | 8.21% |
| AAPLApple, Inc | 7.27% | 0.07% | 7.20% |
| MSFTMicrosoft Corp | 5.76% | 0.27% | 5.49% |
| MUMicron Technology, Inc. | 4.43% | 0.02% | 4.41% |
| AVGOBroadcom Inc | 3.16% | 0.08% | 3.08% |
| GOOGAlphabet Inc | 3.13% | 0.10% | 3.03% |
| METAMeta Platforms Inc | 2.78% | 0.04% | 2.74% |
| WMTWalmart, Inc. | 2.41% | 0.05% | 2.36% |
| CSCOCisco Systems Inc. - Ordinary Shares | 2.10% | 0.26% | 1.84% |
| AMATApplied Materials, Inc. | 1.86% | 0.02% | 1.84% |
56.0% of QQQ is already inside THEQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQ or THEQ?
QQQ has an expense ratio of 0.18% while THEQ charges 0.46%. QQQ is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, QQQ or THEQ?
Over the past year QQQ returned +19.65% vs +9.08% for THEQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), QQQ annualized +30.05% vs +13.57% for THEQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or THEQ?
QQQ has been the more volatile fund at 19.4% annualized versus 8.2% for THEQ. Worst drawdown: QQQ -13.6% vs THEQ -8.1%.
Should I hold both QQQ and THEQ?
QQQ and THEQ have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between QQQ and THEQ?
56.0% of QQQ's money is in holdings THEQ also owns. 2.9% of THEQ's is in holdings QQQ also owns. They hold 32 positions in common, counted across the 102 positions we hold weights for in QQQ and 110 in THEQ.
Which pays a higher dividend, QQQ or THEQ?
QQQ yields 0.44% while THEQ yields 0.73%, so THEQ currently pays the higher dividend yield.
Is THEQ better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 90.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.