QQQ vs TQQQ
Invesco QQQ Trust, Series 1 vs ProShares UltraPro QQQ
Quick Verdict
QQQ has a lower expense ratio. TQQQ delivered stronger 1-year returns. TQQQ offers more diversification with 128 holdings.
Side-by-Side Comparison
| Metric | QQQ | TQQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.82% | |
| AUM | $496.3B | $38.9B | |
| Dividend Yield | 0.44% | 0.58% | |
| Holdings | 108 | 128 | |
| YTD Return | +15.47% | +32.35% | |
| 1Y Return | +24.44% | +55.06% | |
| 3Y Return (annualized) | +25.47% | +55.46% | |
| 5Y Return (annualized) | +14.22% | +15.12% | |
| Volatility (annualized) | 30.6% | 55.2% | |
| Max Drawdown | -83.0% | -81.7% | |
| Fund Family | Invesco (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Feb 9, 2010 |
QQQ vs TQQQ Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and ProShares UltraPro QQQ (TQQQ) is a ETF from ProShares. Over the past year QQQ returned +24.44% while TQQQ returned +55.06%. Year to date, QQQ is up 15.47% versus a gain of 32.35% for TQQQ.
Over three years, QQQ compounded at +25.47% per year against +55.46% for TQQQ; over five years the annualized figures are +14.22% and +15.12% respectively. Across the full 17-year window we track, TQQQ has the edge at +42.17% annualized vs +12.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TQQQ has been the more volatile fund, with annualized monthly volatility of 55.2% 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 -81.7% for TQQQ. 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 0.99. 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 TQQQ charges 0.82%. On a $10,000 position that is $18 vs $82 annually, a gap of $64 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.58% for TQQQ.
Holdings Overlap
QQQ and TQQQ share 100 holdings out of 106 unique holdings combined, representing a 30.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or TQQQ?
QQQ has an expense ratio of 0.18% while TQQQ charges 0.82%. QQQ is the cheaper option. On a $10,000 investment, that is $64 per year of difference.
Which performed better, QQQ or TQQQ?
Over the past year QQQ returned +24.44% vs +55.06% for TQQQ, so TQQQ leads on 1-year performance. Over the longest common window we track (17 years), QQQ annualized +12.99% vs +42.17% for TQQQ. Past performance does not guarantee future results.
Which is riskier, QQQ or TQQQ?
TQQQ has been the more volatile fund at 55.2% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs TQQQ -81.7%.
Should I hold both QQQ and TQQQ?
QQQ and TQQQ have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between QQQ and TQQQ?
QQQ and TQQQ share 100 common holdings with a 30.9% weight overlap. Combined, they hold 106 unique securities.
Which pays a higher dividend, QQQ or TQQQ?
QQQ yields 0.44% while TQQQ yields 0.58%, so TQQQ currently pays the higher dividend yield.
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