QQQ vs UMAY
Invesco QQQ Trust, Series 1 vs Innovator U.S. Equity Ultra Buffer ETF - May
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 | UMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.79% | |
| AUM | $496.3B | $142M | |
| Dividend Yield | 0.44% | 0.00% | |
| Holdings | 108 | 8 | |
| YTD Return | +16.64% | +5.56% | |
| 1Y Return | +27.27% | +9.13% | |
| 3Y Return (annualized) | +25.96% | +11.50% | |
| 5Y Return (annualized) | +14.54% | +6.44% | |
| Volatility (annualized) | 30.6% | 6.3% | |
| Max Drawdown | -83.0% | -12.1% | |
| Fund Family | Invesco (US) | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Apr 30, 2020 |
QQQ vs UMAY Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Innovator U.S. Equity Ultra Buffer ETF - May (UMAY) is a ETF from Innovator ETFs Trust. Over the past year QQQ returned +27.27% while UMAY returned +9.13%. Year to date, QQQ is up 16.64% versus a gain of 5.56% for UMAY.
Over three years, QQQ compounded at +25.96% per year against +11.50% for UMAY; over five years the annualized figures are +14.54% and +6.44% respectively. Across the full 6-year window we track, QQQ has the edge at +13.03% annualized vs +6.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 6.3% for UMAY. 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 -12.1% for UMAY. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while UMAY charges 0.79%. On a $10,000 position that is $18 vs $79 annually, a gap of $61 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.00% for UMAY.
Holdings Overlap
QQQ and UMAY share 0 holdings out of 103 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 UMAY?
QQQ has an expense ratio of 0.18% while UMAY charges 0.79%. QQQ is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, QQQ or UMAY?
Over the past year QQQ returned +27.27% vs +9.13% for UMAY, so QQQ leads on 1-year performance. Over the longest common window we track (6 years), QQQ annualized +13.03% vs +6.82% for UMAY. Past performance does not guarantee future results.
Which is riskier, QQQ or UMAY?
QQQ has been the more volatile fund at 30.6% annualized versus 6.3% for UMAY. Worst drawdown: QQQ -83.0% vs UMAY -12.1%.
Should I hold both QQQ and UMAY?
QQQ and UMAY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and UMAY?
QQQ and UMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, QQQ or UMAY?
QQQ yields 0.44% while UMAY yields 0.00%, so QQQ currently pays the higher dividend yield.
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