QQQ vs UPGD
Invesco QQQ Trust, Series 1 vs Invesco Bloomberg Analyst Rating Improvers ETF
Which is better, QQQ or UPGD?
Large Cap Growth against Mid Cap Value.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. UPGD is less concentrated, with 25.1% of the fund in its ten largest positions against 46.5%.
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 | UPGD |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.40% |
| AUM | $483.5B | $118M |
| Dividend Yield | 0.44% | 1.56% |
| Holdings | 107 | 52 |
| YTD Return | +17.95%Best | +8.75% |
| 1Y Return | +21.77%Best | +8.76% |
| 3Y Return (annualized) | +25.63%Best | +13.19% |
| 5Y Return (annualized) | +15.24%Best | +7.52% |
| Volatility (annualized) | 18.6%Best | 21.1% |
| Max Drawdown | -53.5%Best | -60.7% |
| $10,000 over 5 years | $20,324Best | $14,370 |
| Top 10 Weight | 46.5% | 25.1%Best |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Mid Cap Value |
| Inception | Mar 10, 1999 | May 19, 2006 |
Volatility and max drawdown are measured over the window both funds cover: May 19, 2006 to Sep 18, 2026 (20.3 years).
QQQ vs UPGD 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 covers the 20.3 years both funds cover.
QQQ vs UPGD Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Invesco Bloomberg Analyst Rating Improvers ETF (UPGD) is an ETF from Invesco (US). Over the past year QQQ returned +21.77% while UPGD returned +8.76%. Year to date, QQQ is up 17.95% versus a gain of 8.75% for UPGD.
Over three years, QQQ compounded at +25.63% per year against +13.19% for UPGD; over five years the annualized figures are +15.24% and +7.52% respectively. Across the full 20-year window we track, QQQ has the edge at +15.56% annualized vs +7.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPGD has been the more volatile fund, with annualized monthly volatility of 21.1% compared with 18.6% 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 -53.5% for QQQ and -60.7% for UPGD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while UPGD charges 0.40%. On a $10,000 position that is $18 vs $40 annually, a gap of $22 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 1.56% for UPGD.
Holdings Overlap
8.3% of QQQ's money is in holdings UPGD also owns. 17.0% of UPGD's money is in holdings QQQ also owns.
UPGD and QQQ share little of their money.
9 positions in common, counted across the 102 positions we hold weights for in QQQ and 50 in UPGD, against full books of 107 and 52.
What only one of them owns
Our book lists 40 positions for UPGD that do not appear in our book for QQQ (81.6% of the fund), and 87 for QQQ that do not appear in UPGD (89.3%).
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.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in UPGD | Difference |
|---|---|---|---|
| TSLATesla Inc | 2.56% | 1.68% | 0.88% |
| INTCIntel Corporation | 2.23% | 1.43% | 0.80% |
| ABNBAirbnb Inc | 0.28% | 2.57% | 2.29% |
| TXNTexas Instrument Inc | 1.12% | 1.63% | 0.51% |
| PEPPepsico Inc. | 0.83% | 1.79% | 0.96% |
| CTASCintas Corp. | 0.35% | 2.24% | 1.89% |
| PCARPaccar Inc. | 0.31% | 2.12% | 1.81% |
| MARMarriott International, Inc. | 0.42% | 1.76% | 1.34% |
| ODFLOld Dominion Freig | 0.20% | 1.81% | 1.61% |
You are not choosing between two funds in isolation.
Whichever of QQQ and UPGD 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 UPGD?
QQQ has an expense ratio of 0.18% while UPGD charges 0.40%. QQQ is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, QQQ or UPGD?
Over the past year QQQ returned +21.77% vs +8.76% for UPGD, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), QQQ annualized +15.56% vs +7.77% for UPGD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or UPGD?
UPGD has been the more volatile fund at 21.1% annualized versus 18.6% for QQQ. Worst drawdown: QQQ -53.5% vs UPGD -60.7%.
Should I hold both QQQ and UPGD?
QQQ and UPGD have a monthly-return correlation of 0.77, 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 UPGD?
17.0% of UPGD's money is in holdings QQQ also owns. 17.0% of UPGD's is in holdings QQQ also owns. They hold 9 positions in common, counted across the 102 positions we hold weights for in QQQ and 50 in UPGD.
Which pays a higher dividend, QQQ or UPGD?
QQQ yields 0.44% while UPGD yields 1.56%, so UPGD currently pays the higher dividend yield.
Is UPGD better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. UPGD is less concentrated, with 25.1% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.