QQQ vs TPYP
Invesco QQQ Trust, Series 1 vs Tortoise North American Pipeline ETF
Which is better, QQQ or TPYP?
Large Cap Growth against Mid Cap Value.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 47.2% of the fund in its ten largest positions against 63.0%.
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 | TPYP |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.40% |
| AUM | $498.6B | $828M |
| Dividend Yield | 0.42% | 3.15% |
| Holdings | 321 | 88 |
| Volatility (annualized) | 18.7%Best | 21.8% |
| Max Drawdown | -35.1%Best | -52.0% |
| $10,000 over 9.9 years | $47,080Best | $21,860 |
| Top 10 Weight | 47.2%Best | 63.0% |
| Fund Family | Invesco (US) | TortoiseEcofin Funds |
| Category | Equity | Equity |
| Style | Large Cap Growth | Mid Cap Value |
| Inception | Mar 10, 1999 | Jun 29, 2015 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 510 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QQQ has data through Oct 1, 2026 and TPYP through May 9, 2025.
Volatility and max drawdown, and the $10,000 over 9.9 years row, are measured over the window both funds cover: Jun 30, 2015 to May 9, 2025 (9.9 years).
Risk: Volatility and Drawdowns
TPYP has been the more volatile fund, with annualized monthly volatility of 21.8% compared with 18.7% 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 -35.1% for QQQ and -52.0% for TPYP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.50. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while TPYP charges 0.40%. On a $10,000 position that is $18 vs $40 annually, a gap of $22 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 3.15% for TPYP.
Holdings Overlap
We hold position weights for 102 holdings in QQQ and 43 in TPYP, totalling 99.9% and 100.0% 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 43 in TPYP, against full books of 321 and 88.
What only one of them owns
Our book lists 36 positions for TPYP that do not appear in our book for QQQ (80.7% of the fund), and 96 for QQQ that do not appear in TPYP (97.8%).
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 TPYP 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 TPYP?
QQQ has an expense ratio of 0.18% while TPYP charges 0.40%. QQQ is the cheaper option, by $22 a year on a $10,000 investment.
Which is riskier, QQQ or TPYP?
TPYP has been the more volatile fund at 21.8% annualized versus 18.7% for QQQ. Worst drawdown: QQQ -35.1% vs TPYP -52.0%.
Should I hold both QQQ and TPYP?
QQQ and TPYP have a monthly-return correlation of 0.50, 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 TPYP?
QQQ yields 0.42% while TPYP yields 3.15%, so TPYP currently pays the higher dividend yield.
Is TPYP better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 47.2% of the fund in its ten largest positions against 63.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.