QQQ vs VLLU
Invesco QQQ Trust, Series 1 vs Harbor AlphaEdge Large Cap Value ETF
Which is better, QQQ or VLLU?
Large Cap Growth against Large Cap Value.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. VLLU is less concentrated, with 37.4% of the fund in its ten largest positions against 47.2%.
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 | VLLU |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.25% |
| AUM | $498.6B | $5M |
| Dividend Yield | 0.42% | 1.35% |
| Holdings | 321 | 75 |
| Volatility (annualized) | 18.9% | 10.7%Best |
| Max Drawdown | -22.8% | -16.6%Best |
| $10,000 over 2 years | $15,785Best | $13,865 |
| Top 10 Weight | 47.2% | 37.4%Best |
| Fund Family | Invesco (US) | Harbor Funds |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Mar 10, 1999 | Sep 3, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 38 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QQQ has data through Oct 5, 2026 and VLLU through Aug 28, 2026.
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Sep 5, 2024 to Aug 28, 2026 (2 years).
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 10.7% for VLLU. 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 -22.8% for QQQ and -16.6% for VLLU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while VLLU charges 0.25%. On a $10,000 position that is $18 vs $25 annually, a gap of $7 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 1.35% for VLLU.
Holdings Overlap
35.8% of QQQ's money is in holdings VLLU also owns. 26.7% of VLLU's money is in holdings QQQ also owns.
The two portfolios partly overlap.
The two holdings books were reported 77 days apart, QQQ as of Sep 15, 2026 and VLLU as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
14 positions in common, counted across the 102 positions we hold weights for in QQQ and 74 in VLLU, against full books of 321 and 75.
What only one of them owns
Our book lists 56 positions for VLLU that do not appear in our book for QQQ (70.8% of the fund), and 82 for QQQ that do not appear in VLLU (62.0%).
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 VLLU | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.80% | 3.51% | 4.29% |
| NVDANvidia Corp | 8.45% | 1.71% | 6.74% |
| GOOGLAlphabet Inc,class A | 3.15% | 6.15% | 3.00% |
| MUMicron Technology, Inc. | 4.85% | 3.67% | 1.18% |
| LRCXLrcx Uw Equity | 1.64% | 1.62% | 0.02% |
| ADBEAdobe Systems | 0.45% | 2.58% | 2.13% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.95% | 0.84% | 1.11% |
| WMTWalmart, Inc. | 2.31% | 0.47% | 1.84% |
| WDCWestern Digital Corp. | 0.68% | 2.05% | 1.37% |
| COSTCostco Wholesale Corp. | 1.77% | 0.49% | 1.28% |
35.8% of QQQ is already inside VLLU.
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 VLLU?
QQQ has an expense ratio of 0.18% while VLLU charges 0.25%. QQQ is the cheaper option, by $7 a year on a $10,000 investment.
Which is riskier, QQQ or VLLU?
QQQ has been the more volatile fund at 18.9% annualized versus 10.7% for VLLU. Worst drawdown: QQQ -22.8% vs VLLU -16.6%.
Should I hold both QQQ and VLLU?
QQQ and VLLU have a monthly-return correlation of 0.58, 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 VLLU?
35.8% of QQQ's money is in holdings VLLU also owns. 26.7% of VLLU's is in holdings QQQ also owns. They hold 14 positions in common, counted across the 102 positions we hold weights for in QQQ and 74 in VLLU.
Which pays a higher dividend, QQQ or VLLU?
QQQ yields 0.42% while VLLU yields 1.35%, so VLLU currently pays the higher dividend yield.
Is VLLU better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. VLLU is less concentrated, with 37.4% of the fund in its ten largest positions against 47.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.