QQQ vs TPZ
Invesco QQQ Trust, Series 1 vs Tortoise Essential Energy Fund
Which is better, QQQ or TPZ?
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 46.5% of the fund in its ten largest positions against 55.4%.
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 | TPZ |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.85% |
| AUM | $483.5B | $121M |
| Dividend Yield | 0.44% | 2.84% |
| Holdings | 107 | 35 |
| Volatility (annualized) | 17.3%Best | 24.4% |
| Max Drawdown | -35.1%Best | -87.9% |
| $10,000 over 15.5 years | $136,000Best | $34,218 |
| Top 10 Weight | 46.5%Best | 55.4% |
| Fund Family | Invesco (US) | Tortoise Capital |
| Category | Equity | Equity |
| Style | Large Cap Growth | Mid Cap Value |
| Inception | Mar 10, 1999 | Jul 29, 2009 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 590 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QQQ has data through Sep 10, 2026 and TPZ through Jan 28, 2025.
Volatility and max drawdown, and the $10,000 over 15.5 years row, are measured over the window both funds cover: Jul 29, 2009 to Jan 28, 2025 (15.5 years).
Risk: Volatility and Drawdowns
TPZ has been the more volatile fund, with annualized monthly volatility of 24.4% compared with 17.3% 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 -87.9% for TPZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while TPZ charges 0.85%. On a $10,000 position that is $18 vs $85 annually, a gap of $67 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 2.84% for TPZ.
Holdings Overlap
0.7% of QQQ's money is in holdings TPZ also owns. 7.9% of TPZ's money is in holdings QQQ also owns.
TPZ and QQQ share little of their money.
2 positions in common, counted across the 102 positions we hold weights for in QQQ and 32 in TPZ, against full books of 107 and 35.
What only one of them owns
Our book lists 26 positions for TPZ that do not appear in our book for QQQ (83.3% of the fund), and 93 for QQQ that do not appear in TPZ (96.3%).
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.
You are not choosing between two funds in isolation.
Whichever of QQQ and TPZ 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 TPZ?
QQQ has an expense ratio of 0.18% while TPZ charges 0.85%. QQQ is the cheaper option, by $67 a year on a $10,000 investment.
Which is riskier, QQQ or TPZ?
TPZ has been the more volatile fund at 24.4% annualized versus 17.3% for QQQ. Worst drawdown: QQQ -35.1% vs TPZ -87.9%.
Should I hold both QQQ and TPZ?
QQQ and TPZ have a monthly-return correlation of 0.49, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between QQQ and TPZ?
7.9% of TPZ's money is in holdings QQQ also owns. 7.9% of TPZ's is in holdings QQQ also owns. They hold 2 positions in common, counted across the 102 positions we hold weights for in QQQ and 32 in TPZ.
Which pays a higher dividend, QQQ or TPZ?
QQQ yields 0.44% while TPZ yields 2.84%, so TPZ currently pays the higher dividend yield.
Is TPZ better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 55.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.