QQQ vs TOPC
Invesco QQQ Trust, Series 1 vs iShares S&P 500 3% Capped ETF
Which is better, QQQ or TOPC?
QQQ has been ahead.
TOPC has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. TOPC is less concentrated, with 25.4% 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 | TOPC |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $483.5B | $33M |
| Dividend Yield | 0.44% | 1.02% |
| Holdings | 107 | 509 |
| YTD Return | +15.21%Best | +11.09% |
| 1Y Return | +19.78%Best | +15.04% |
| 3Y Return (annualized) | +24.58% | - |
| 5Y Return (annualized) | +13.93% | - |
| Volatility (annualized) | 19.9% | 11.2%Best |
| Max Drawdown | -12.0% | -8.0%Best |
| $10,000 over 1.4 years | $15,865Best | $14,133 |
| Top 10 Weight | 46.5% | 25.4%Best |
| Fund Family | Invesco (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Mar 10, 1999 | Apr 15, 2025 |
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Apr 16, 2025 to Sep 16, 2026 (1.4 years).
QQQ vs TOPC 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 1.4 years both funds cover.
QQQ vs TOPC Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and iShares S&P 500 3% Capped ETF (TOPC) is an ETF from iShares by BlackRock (US). Over the past year QQQ returned +19.78% while TOPC returned +15.04%. Year to date, QQQ is up 15.21% versus a gain of 11.09% for TOPC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 11.2% for TOPC. 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 -12.0% for QQQ and -8.0% for TOPC. 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 TOPC charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 1.02% for TOPC.
Holdings Overlap
94.2% of QQQ's money is in holdings TOPC also owns. 44.1% of TOPC's money is in holdings QQQ also owns.
Most of QQQ is already inside TOPC. Owning both mostly buys the same companies twice.
85 positions in common, counted across the 102 positions we hold weights for in QQQ and 490 in TOPC, against full books of 107 and 509.
What only one of them owns
Our book lists 399 positions for TOPC that do not appear in our book for QQQ (54.4% of the fund), and 11 for QQQ that do not appear in TOPC (3.3%).
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 TOPC | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 3.13% | 5.31% |
| AAPLApple, Inc | 7.27% | 3.09% | 4.18% |
| MSFTMicrosoft Corp | 5.76% | 3.63% | 2.13% |
| AMZNAmazon.Com Inc | 4.67% | 3.10% | 1.57% |
| MUMicron Technology, Inc. | 4.43% | 1.98% | 2.45% |
| AVGOBroadcom Inc | 3.16% | 2.83% | 0.33% |
| METAMeta Platforms Inc | 2.78% | 2.30% | 0.48% |
| GOOGLAlphabet Inc,class A | 3.36% | 1.50% | 1.86% |
| AMDAdvanced Micro Devices Inc | 3.45% | 1.40% | 2.05% |
| TSLATesla Inc | 2.56% | 1.89% | 0.67% |
94.2% of QQQ is already inside TOPC.
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 TOPC?
QQQ has an expense ratio of 0.18% while TOPC charges 0.09%. TOPC is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, QQQ or TOPC?
Over the past year QQQ returned +19.78% vs +15.04% for TOPC, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +39.05% vs +28.03% for TOPC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or TOPC?
QQQ has been the more volatile fund at 19.9% annualized versus 11.2% for TOPC. Worst drawdown: QQQ -12.0% vs TOPC -8.0%.
Should I hold both QQQ and TOPC?
QQQ and TOPC 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 TOPC?
94.2% of QQQ's money is in holdings TOPC also owns. 44.1% of TOPC's is in holdings QQQ also owns. They hold 85 positions in common, counted across the 102 positions we hold weights for in QQQ and 490 in TOPC.
Which pays a higher dividend, QQQ or TOPC?
QQQ yields 0.44% while TOPC yields 1.02%, so TOPC currently pays the higher dividend yield.
Is TOPC better than QQQ?
TOPC has a lower expense ratio. QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. TOPC is less concentrated, with 25.4% 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.