QQQ vs UNL
Invesco QQQ Trust, Series 1 vs United States 12 Month Natural Gas Fund
Which is better, QQQ or UNL?
Large Cap Growth against Energy.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.9% of the fund in its ten largest positions against 61.5%.
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 | UNL |
|---|---|---|
| Expense Ratio | 0.18%Best | 1.65% |
| AUM | $437.3B | $14M |
| Dividend Yield | 0.43% | 0.00% |
| Holdings | 208 | 57 |
| YTD Return | +12.98%Best | -24.84% |
| 1Y Return | +11.59%Best | -35.43% |
| 3Y Return (annualized) | +23.05%Best | -21.02% |
| 5Y Return (annualized) | +12.74%Best | -17.16% |
| Volatility (annualized) | 17.6%Best | 30.6% |
| Max Drawdown | -35.1%Best | -91.0% |
| $10,000 over 5 years | $18,213Best | $3,901 |
| Top 10 Weight | 46.9%Best | 61.5% |
| Fund Family | Invesco (US) | USCF Investments |
| Category | Equity | Commodity |
| Style | Large Cap Growth | Energy |
| Inception | Mar 10, 1999 | Nov 18, 2009 |
Volatility and max drawdown are measured over the window both funds cover: Nov 18, 2009 to Nov 11, 2026 (17 years).
QQQ vs UNL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
QQQ vs UNL Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and United States 12 Month Natural Gas Fund (UNL) is an ETF from USCF Investments. Over the past year QQQ returned +11.59% while UNL returned -35.43%. Year to date, QQQ is up 12.98% versus a loss of 24.84% for UNL.
Over three years, QQQ compounded at +23.05% per year against -21.02% for UNL; over five years the annualized figures are +12.74% and -17.16% respectively. Across the full 17-year window we track, QQQ has the edge at +17.78% annualized vs -12.08%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UNL has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 17.6% 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 -35.1% for QQQ and -91.0% for UNL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.02. They move largely independently of each other.
Fees and Cost Over Time
QQQ charges 0.18% per year while UNL charges 1.65%. On a $10,000 position that is $18 vs $165 annually, a gap of $147 per year that compounds over a long holding period. On income, QQQ currently yields 0.43% against 0.00% for UNL.
Holdings Overlap
13.4% of QQQ's money is in holdings UNL also owns. 36.3% of UNL's money is in holdings QQQ also owns.
The two portfolios partly overlap.
6 positions in common, counted across the 101 positions we hold weights for in QQQ and 24 in UNL, against full books of 208 and 57.
What only one of them owns
Our book lists 17 positions for UNL that do not appear in our book for QQQ (61.3% of the fund), and 88 for QQQ that do not appear in UNL (83.8%).
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.
36.3% of UNL is already inside QQQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQ or UNL?
QQQ has an expense ratio of 0.18% while UNL charges 1.65%. QQQ is the cheaper option, by $147 a year on a $10,000 investment.
Which performed better, QQQ or UNL?
Over the past year QQQ returned +11.59% vs -35.43% for UNL, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), QQQ annualized +17.78% vs -12.08% for UNL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or UNL?
UNL has been the more volatile fund at 30.6% annualized versus 17.6% for QQQ. Worst drawdown: QQQ -35.1% vs UNL -91.0%.
Should I hold both QQQ and UNL?
QQQ and UNL have a monthly-return correlation of 0.02, 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 UNL?
36.3% of UNL's money is in holdings QQQ also owns. 36.3% of UNL's is in holdings QQQ also owns. They hold 6 positions in common, counted across the 101 positions we hold weights for in QQQ and 24 in UNL.
Which pays a higher dividend, QQQ or UNL?
QQQ yields 0.43% while UNL yields 0.00%, so QQQ currently pays the higher dividend yield.
Is UNL better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.9% of the fund in its ten largest positions against 61.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.