QQQ vs TMV
Invesco QQQ Trust, Series 1 vs Direxion Daily 20+ Year Treasury Bear 3X ETF
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 | TMV | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.97% | |
| AUM | $455.8B | $180M | |
| Dividend Yield | 0.41% | 2.60% | |
| Holdings | 108 | 9 | |
| YTD Return | +19.68% | +14.67% | |
| 1Y Return | +26.75% | +16.17% | |
| 3Y Return (annualized) | +26.25% | +8.83% | |
| 5Y Return (annualized) | +15.39% | +26.68% | |
| Volatility (annualized) | 30.6% | 40.1% | |
| Max Drawdown | -83.0% | -99.1% | |
| Fund Family | Invesco (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Apr 16, 2009 |
QQQ vs TMV Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Direxion Daily 20+ Year Treasury Bear 3X ETF (TMV) is a ETF from Direxion Shares ETF Trust. Over the past year QQQ returned +26.75% while TMV returned +16.17%. Year to date, QQQ is up 19.68% versus a gain of 14.67% for TMV.
Over three years, QQQ compounded at +26.25% per year against +8.83% for TMV; over five years the annualized figures are +15.39% and +26.68% respectively. Across the full 17-year window we track, QQQ has the edge at +13.15% annualized vs -14.88%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMV has been the more volatile fund, with annualized monthly volatility of 40.1% compared with 30.6% for QQQ. 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 -99.1% for TMV. 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 -0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while TMV charges 0.97%. On a $10,000 position that is $18 vs $97 annually, a gap of $79 per year that compounds over a long holding period. On income, QQQ currently yields 0.41% against 2.60% for TMV.
Holdings Overlap
QQQ and TMV share 0 holdings out of 106 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 TMV?
QQQ has an expense ratio of 0.18% while TMV charges 0.97%. QQQ is the cheaper option. On a $10,000 investment, that is $79 per year of difference.
Which performed better, QQQ or TMV?
Over the past year QQQ returned +26.75% vs +16.17% for TMV, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), QQQ annualized +13.15% vs -14.88% for TMV. Past performance does not guarantee future results.
Which is riskier, QQQ or TMV?
TMV has been the more volatile fund at 40.1% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs TMV -99.1%.
Should I hold both QQQ and TMV?
QQQ and TMV have a monthly-return correlation of -0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and TMV?
QQQ and TMV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 106 unique securities.
Which pays a higher dividend, QQQ or TMV?
QQQ yields 0.41% while TMV yields 2.60%, so TMV currently pays the higher dividend yield.
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