QQQ vs TSPX
Invesco QQQ Trust, Series 1 vs Twin Oak Active Opportunities 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 | TSPX | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 1.01% | |
| AUM | $455.8B | $236M | |
| Dividend Yield | 0.41% | 2.00% | |
| Holdings | 108 | 4 | |
| YTD Return | +19.68% | +11.52% | |
| 1Y Return | +26.75% | +14.76% | |
| 3Y Return (annualized) | +26.25% | - | |
| 5Y Return (annualized) | +15.39% | - | |
| Volatility (annualized) | 30.6% | 9.7% | |
| Max Drawdown | -83.0% | -8.1% | |
| Fund Family | Invesco (US) | Twin Oak | |
| Category | Equity | Allocation/Balanced | |
| Inception | Mar 10, 1999 | Feb 20, 2025 |
QQQ vs TSPX Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Twin Oak Active Opportunities ETF (TSPX) is a ETF from Twin Oak. Over the past year QQQ returned +26.75% while TSPX returned +14.76%. Year to date, QQQ is up 19.68% versus a gain of 11.52% for TSPX.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 9.7% for TSPX. 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 -8.1% for TSPX. 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 0.92. 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 TSPX charges 1.01%. On a $10,000 position that is $18 vs $101 annually, a gap of $83 per year that compounds over a long holding period. On income, QQQ currently yields 0.41% against 2.00% for TSPX.
Holdings Overlap
QQQ and TSPX 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 TSPX?
QQQ has an expense ratio of 0.18% while TSPX charges 1.01%. QQQ is the cheaper option. On a $10,000 investment, that is $83 per year of difference.
Which performed better, QQQ or TSPX?
Over the past year QQQ returned +26.75% vs +14.76% for TSPX, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), QQQ annualized +13.15% vs +16.83% for TSPX. Past performance does not guarantee future results.
Which is riskier, QQQ or TSPX?
QQQ has been the more volatile fund at 30.6% annualized versus 9.7% for TSPX. Worst drawdown: QQQ -83.0% vs TSPX -8.1%.
Should I hold both QQQ and TSPX?
QQQ and TSPX have a monthly-return correlation of 0.92, 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 TSPX?
QQQ and TSPX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 106 unique securities.
Which pays a higher dividend, QQQ or TSPX?
QQQ yields 0.41% while TSPX yields 2.00%, so TSPX currently pays the higher dividend yield.
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