QQQ vs TMSL
Invesco QQQ Trust, Series 1 vs T. Rowe Price Small-Mid Cap ETF
Which is better, QQQ or TMSL?
Large Cap Growth against Mid Cap Blend.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y and the full window. TMSL is less concentrated, with 9.6% of the fund in its ten largest positions against 46.5%.
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 | TMSL |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.55% |
| AUM | $483.5B | $3.0B |
| Dividend Yield | 0.44% | 0.48% |
| Holdings | 107 | 287 |
| YTD Return | +17.95%Best | +13.36% |
| 1Y Return | +21.77%Best | +17.11% |
| 3Y Return (annualized) | +25.63%Best | +18.30% |
| 5Y Return (annualized) | +15.24% | - |
| Volatility (annualized) | 17.2% | 16.7%Best |
| Max Drawdown | -22.8%Best | -24.7% |
| $10,000 over 3.3 years | $20,014Best | $16,619 |
| Top 10 Weight | 46.5% | 9.6%Best |
| Fund Family | Invesco (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Growth | Mid Cap Blend |
| Inception | Mar 10, 1999 | Jun 14, 2023 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Sep 18, 2026 (3.3 years).
QQQ vs TMSL 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 3.3 years both funds cover.
QQQ vs TMSL Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and T. Rowe Price Small-Mid Cap ETF (TMSL) is an ETF from T.Rowe Price. Over the past year QQQ returned +21.77% while TMSL returned +17.11%. Year to date, QQQ is up 17.95% versus a gain of 13.36% for TMSL.
Over three years, QQQ compounded at +25.63% per year against +18.30% for TMSL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 17.2% compared with 16.7% for TMSL. 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 -22.8% for QQQ and -24.7% for TMSL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while TMSL charges 0.55%. On a $10,000 position that is $18 vs $55 annually, a gap of $37 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.48% for TMSL.
Holdings Overlap
We hold position weights for 102 holdings in QQQ and 285 in TMSL, totalling 99.9% and 99.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 102 positions we hold weights for in QQQ and 285 in TMSL, against full books of 107 and 287.
What only one of them owns
Our book lists 264 positions for TMSL that do not appear in our book for QQQ (92.5% of the fund), and 96 for QQQ that do not appear in TMSL (97.5%).
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.
You are not choosing between two funds in isolation.
Whichever of QQQ and TMSL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQ or TMSL?
QQQ has an expense ratio of 0.18% while TMSL charges 0.55%. QQQ is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, QQQ or TMSL?
Over the past year QQQ returned +21.77% vs +17.11% for TMSL, so QQQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or TMSL?
QQQ has been the more volatile fund at 17.2% annualized versus 16.7% for TMSL. Worst drawdown: QQQ -22.8% vs TMSL -24.7%.
Should I hold both QQQ and TMSL?
QQQ and TMSL have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, QQQ or TMSL?
QQQ yields 0.44% while TMSL yields 0.48%, so TMSL currently pays the higher dividend yield.
Is TMSL better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y and the full window. TMSL is less concentrated, with 9.6% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.