QQQ vs UPV
Invesco QQQ Trust, Series 1 vs ProShares Ultra FTSE Europe
Quick Verdict
QQQ has a lower expense ratio. UPV delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | UPV | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.95% | |
| AUM | $496.3B | $14M | |
| Dividend Yield | 0.44% | 2.16% | |
| Holdings | 108 | 7 | |
| YTD Return | +16.23% | +15.57% | |
| 1Y Return | +26.23% | +31.23% | |
| 3Y Return (annualized) | +25.75% | +29.06% | |
| 5Y Return (annualized) | +14.78% | +9.73% | |
| Volatility (annualized) | 30.6% | 35.9% | |
| Max Drawdown | -83.0% | -68.7% | |
| Fund Family | Invesco (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Apr 27, 2010 |
QQQ vs UPV Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and ProShares Ultra FTSE Europe (UPV) is a ETF from ProShares. Over the past year QQQ returned +26.23% while UPV returned +31.23%. Year to date, QQQ is up 16.23% versus a gain of 15.57% for UPV.
Over three years, QQQ compounded at +25.75% per year against +29.06% for UPV; over five years the annualized figures are +14.78% and +9.73% respectively. Across the full 16-year window we track, QQQ has the edge at +13.02% annualized vs +8.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPV has been the more volatile fund, with annualized monthly volatility of 35.9% 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 -68.7% for UPV. 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while UPV charges 0.95%. On a $10,000 position that is $18 vs $95 annually, a gap of $77 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 2.16% for UPV.
Holdings Overlap
QQQ and UPV 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 UPV?
QQQ has an expense ratio of 0.18% while UPV charges 0.95%. QQQ is the cheaper option. On a $10,000 investment, that is $77 per year of difference.
Which performed better, QQQ or UPV?
Over the past year QQQ returned +26.23% vs +31.23% for UPV, so UPV leads on 1-year performance. Over the longest common window we track (16 years), QQQ annualized +13.02% vs +8.33% for UPV. Past performance does not guarantee future results.
Which is riskier, QQQ or UPV?
UPV has been the more volatile fund at 35.9% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs UPV -68.7%.
Should I hold both QQQ and UPV?
QQQ and UPV have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and UPV?
QQQ and UPV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, QQQ or UPV?
QQQ yields 0.44% while UPV yields 2.16%, so UPV currently pays the higher dividend yield.
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