QQQ vs UPW
Invesco QQQ Trust, Series 1 vs ProShares Ultra Utilities
Which is better, QQQ or UPW?
Large Cap Growth against Multi Alternative.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
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 | UPW |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.95% |
| AUM | $483.5B | $14M |
| Dividend Yield | 0.44% | 1.65% |
| Holdings | 107 | 36 |
| YTD Return | +17.95%Best | -12.31% |
| 1Y Return | +21.77%Best | -7.92% |
| 3Y Return (annualized) | +25.63%Best | +13.25% |
| 5Y Return (annualized) | +15.24%Best | +6.10% |
| Volatility (annualized) | 18.8%Best | 29.9% |
| Max Drawdown | -53.5%Best | -79.5% |
| $10,000 over 5 years | $20,324Best | $13,445 |
| Fund Family | Invesco (US) | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Growth | Multi Alternative |
| Inception | Mar 10, 1999 | Jan 30, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 1, 2007 to Sep 18, 2026 (19.6 years).
QQQ vs UPW 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 19.6 years both funds cover.
QQQ vs UPW Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and ProShares Ultra Utilities (UPW) is an ETF from ProShares. Over the past year QQQ returned +21.77% while UPW returned -7.92%. Year to date, QQQ is up 17.95% versus a loss of 12.31% for UPW.
Over three years, QQQ compounded at +25.63% per year against +13.25% for UPW; over five years the annualized figures are +15.24% and +6.10% respectively. Across the full 20-year window we track, QQQ has the edge at +15.50% annualized vs +6.72%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPW has been the more volatile fund, with annualized monthly volatility of 29.9% compared with 18.8% 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 -79.5% for UPW. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.42. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while UPW 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 1.65% for UPW.
Holdings Overlap
At least 1.1% of QQQ's money is in holdings UPW also owns.
Stated as a floor: for UPW, our book for it covers 71.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
QQQ and UPW share little of their money.
4 positions in common, counted across the 102 positions we hold weights for in QQQ and 31 in UPW, against full books of 107 and 36.
You are not choosing between two funds in isolation.
Whichever of QQQ and UPW 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 UPW?
QQQ has an expense ratio of 0.18% while UPW charges 0.95%. QQQ is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, QQQ or UPW?
Over the past year QQQ returned +21.77% vs -7.92% for UPW, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), QQQ annualized +15.50% vs +6.72% for UPW. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or UPW?
UPW has been the more volatile fund at 29.9% annualized versus 18.8% for QQQ. Worst drawdown: QQQ -53.5% vs UPW -79.5%.
Should I hold both QQQ and UPW?
QQQ and UPW have a monthly-return correlation of 0.42, 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 UPW?
At least 1.1% of QQQ's money is in holdings UPW also owns. Our book for UPW is partial, so the real figure is this or higher. They hold 4 positions in common, counted across the 102 positions we hold weights for in QQQ and 31 in UPW.
Which pays a higher dividend, QQQ or UPW?
QQQ yields 0.44% while UPW yields 1.65%, so UPW currently pays the higher dividend yield.
Is UPW better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.