QQQ vs TMNL
Invesco QQQ Trust, Series 1 vs T. Rowe Price Long Municipal Income ETF
Quick Verdict
QQQ has a lower expense ratio. TMNL offers more diversification with 110 holdings.
Side-by-Side Comparison
| Metric | QQQ | TMNL | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.26% | |
| AUM | $496.3B | $22M | |
| Dividend Yield | 0.44% | 2.88% | |
| Holdings | 108 | 110 | |
| YTD Return | +16.64% | +1.15% | |
| 1Y Return | +27.27% | - | |
| 3Y Return (annualized) | +25.96% | - | |
| 5Y Return (annualized) | +14.54% | - | |
| Volatility (annualized) | 30.6% | - | |
| Max Drawdown | -83.0% | -2.9% | |
| Fund Family | Invesco (US) | T.Rowe Price | |
| Category | Equity | Fixed Income | |
| Inception | Mar 10, 1999 | Nov 19, 2025 |
QQQ vs TMNL Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and T. Rowe Price Long Municipal Income ETF (TMNL) is a ETF from T.Rowe Price. Year to date, QQQ is up 16.64% versus a gain of 1.15% for TMNL.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -83.0% for QQQ and -2.9% for TMNL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
QQQ charges 0.18% per year while TMNL charges 0.26%. On a $10,000 position that is $18 vs $26 annually, a gap of $8 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 2.88% for TMNL.
Holdings Overlap
QQQ and TMNL share 0 holdings out of 140 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 TMNL?
QQQ has an expense ratio of 0.18% while TMNL charges 0.26%. QQQ is the cheaper option. On a $10,000 investment, that is $8 per year of difference.
What is the holdings overlap between QQQ and TMNL?
QQQ and TMNL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 140 unique securities.
Which pays a higher dividend, QQQ or TMNL?
QQQ yields 0.44% while TMNL yields 2.88%, so TMNL currently pays the higher dividend yield.
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