QQQ vs USPX
Invesco QQQ Trust, Series 1 vs Franklin US Equity Index ETF
Which is better, QQQ or USPX?
Large Cap Growth against Large Cap Blend.
USPX has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. USPX is less concentrated, with 37.8% 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 | USPX |
|---|---|---|
| Expense Ratio | 0.18% | 0.03%Best |
| AUM | $486.1B | $2.1B |
| Dividend Yield | 0.44% | 1.09% |
| Holdings | 107 | 487 |
| YTD Return | +17.54%Best | +13.01% |
| 1Y Return | +25.59%Best | +19.53% |
| 3Y Return (annualized) | +24.63%Best | +21.20% |
| 5Y Return (annualized) | +14.18%Best | +12.05% |
| Volatility (annualized) | 18.9% | 14.0%Best |
| Max Drawdown | -35.1% | -31.2%Best |
| $10,000 over 5 years | $19,407Best | $17,663 |
| Top 10 Weight | 46.5% | 37.8%Best |
| Fund Family | Invesco (US) | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Jun 1, 2016 |
Volatility and max drawdown are measured over the window both funds cover: Jun 3, 2016 to Sep 4, 2026 (10.3 years).
QQQ vs USPX 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 10.3 years both funds cover.
QQQ vs USPX Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Franklin US Equity Index ETF (USPX) is an ETF from Franklin Templeton Investments (US). Over the past year QQQ returned +25.59% while USPX returned +19.53%. Year to date, QQQ is up 17.54% versus a gain of 13.01% for USPX.
Over three years, QQQ compounded at +24.63% per year against +21.20% for USPX; over five years the annualized figures are +14.18% and +12.05% respectively. Across the full 10-year window we track, QQQ has the edge at +20.47% annualized vs +10.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 14.0% for USPX. 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 -31.2% for USPX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while USPX charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 1.09% for USPX.
Holdings Overlap
95.2% of QQQ's money is in holdings USPX also owns. 54.2% of USPX's money is in holdings QQQ also owns.
Most of QQQ is already inside USPX. Owning both mostly buys the same companies twice.
90 positions in common, counted across the 102 positions we hold weights for in QQQ and 475 in USPX, against full books of 107 and 487.
What only one of them owns
Our book lists 360 positions for USPX that do not appear in our book for QQQ (44.8% of the fund), and 6 for QQQ that do not appear in USPX (2.3%).
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 USPX | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.44% | 7.49% | 0.95% |
| AAPLApple, Inc | 7.27% | 6.84% | 0.43% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.76% | 5.51% | 0.25% |
| AMZNAmazon.Com Inc | 4.67% | 4.11% | 0.56% |
| GOOGLAlphabet Inc.Class A | 3.36% | 3.33% | 0.03% |
| AVGOBroadcom Inc | 3.16% | 2.93% | 0.23% |
| MUMicron Technology, Inc. | 4.43% | 1.51% | 2.92% |
| GOOGAlphabet Inc. C | 3.13% | 2.66% | 0.47% |
| AMDAdvanced Micro Devices Inc | 3.45% | 1.28% | 2.17% |
| METAMeta Platform Inc | 2.78% | 1.94% | 0.84% |
95.2% of QQQ is already inside USPX.
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 USPX?
QQQ has an expense ratio of 0.18% while USPX charges 0.03%. USPX is the cheaper option, by $15 a year on a $10,000 investment.
Which performed better, QQQ or USPX?
Over the past year QQQ returned +25.59% vs +19.53% for USPX, so QQQ leads on 1-year performance. Over the longest common window we track (10 years), QQQ annualized +20.47% vs +10.88% for USPX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or USPX?
QQQ has been the more volatile fund at 18.9% annualized versus 14.0% for USPX. Worst drawdown: QQQ -35.1% vs USPX -31.2%.
Should I hold both QQQ and USPX?
QQQ and USPX have a monthly-return correlation of 0.88, 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 USPX?
95.2% of QQQ's money is in holdings USPX also owns. 54.2% of USPX's is in holdings QQQ also owns. They hold 90 positions in common, counted across the 102 positions we hold weights for in QQQ and 475 in USPX.
Which pays a higher dividend, QQQ or USPX?
QQQ yields 0.44% while USPX yields 1.09%, so USPX currently pays the higher dividend yield.
Is USPX better than QQQ?
USPX has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. USPX is less concentrated, with 37.8% 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.