QQQ vs UST
Invesco QQQ Trust, Series 1 vs ProShares Ultra 7-10 Year Treasury
Which is better, QQQ or UST?
Large Cap Growth against Trading-Leveraged Debt.
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 | UST |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.95% |
| AUM | $483.5B | $14M |
| Dividend Yield | 0.44% | 3.64% |
| Holdings | 107 | 6 |
| YTD Return | +20.94%Best | -12.24% |
| 1Y Return | +23.67%Best | -11.85% |
| 3Y Return (annualized) | +27.71%Best | +0.32% |
| 5Y Return (annualized) | +16.30%Best | -9.07% |
| Volatility (annualized) | 17.6% | 12.7%Best |
| Max Drawdown | -35.1%Best | -48.1% |
| $10,000 over 5 years | $21,276Best | $6,216 |
| Fund Family | Invesco (US) | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Growth | Trading-Leveraged Debt |
| Inception | Mar 10, 1999 | Jan 19, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 22, 2010 to Sep 30, 2026 (16.7 years).
QQQ vs UST 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 UST Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and ProShares Ultra 7-10 Year Treasury (UST) is an ETF from ProShares. Over the past year QQQ returned +23.67% while UST returned -11.85%. Year to date, QQQ is up 20.94% versus a loss of 12.24% for UST.
Over three years, QQQ compounded at +27.71% per year against +0.32% for UST; over five years the annualized figures are +16.30% and -9.07% respectively. Across the full 17-year window we track, QQQ has the edge at +18.63% annualized vs +1.04%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 12.7% for UST. 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 -48.1% for UST. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.04. They move largely independently of each other.
Fees and Cost Over Time
QQQ charges 0.18% per year while UST 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 3.64% for UST.
Holdings Overlap
We hold position weights for 102 holdings in QQQ and 1 in UST, totalling 99.9% and 93.3% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 102 positions we hold weights for in QQQ and 1 in UST, against full books of 107 and 6.
You are not choosing between two funds in isolation.
Whichever of QQQ and UST 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 UST?
QQQ has an expense ratio of 0.18% while UST charges 0.95%. QQQ is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, QQQ or UST?
Over the past year QQQ returned +23.67% vs -11.85% for UST, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), QQQ annualized +18.63% vs +1.04% for UST. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or UST?
QQQ has been the more volatile fund at 17.6% annualized versus 12.7% for UST. Worst drawdown: QQQ -35.1% vs UST -48.1%.
Should I hold both QQQ and UST?
QQQ and UST have a monthly-return correlation of 0.04, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, QQQ or UST?
QQQ yields 0.44% while UST yields 3.64%, so UST currently pays the higher dividend yield.
Is UST 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.