QQQ vs XPP
Invesco QQQ Trust, Series 1 vs ProShares Ultra FTSE China 50
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | QQQ | XPP | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.95% | |
| AUM | $455.8B | $9M | |
| Dividend Yield | 0.41% | 3.19% | |
| Holdings | 108 | 7 | |
| YTD Return | +18.31% | -25.18% | |
| 1Y Return | +25.37% | -18.96% | |
| 3Y Return (annualized) | +25.79% | +6.26% | |
| 5Y Return (annualized) | +15.20% | -16.45% | |
| Volatility (annualized) | 30.6% | 47.0% | |
| Max Drawdown | -83.0% | -90.5% | |
| Fund Family | Invesco (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Jun 4, 2009 |
QQQ vs XPP Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and ProShares Ultra FTSE China 50 (XPP) is a ETF from ProShares. Over the past year QQQ returned +25.37% while XPP returned -18.96%. Year to date, QQQ is up 18.31% versus a loss of 25.18% for XPP.
Over three years, QQQ compounded at +25.79% per year against +6.26% for XPP; over five years the annualized figures are +15.20% and -16.45% respectively. Across the full 17-year window we track, QQQ has the edge at +13.10% annualized vs -5.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XPP has been the more volatile fund, with annualized monthly volatility of 47.0% 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 -90.5% for XPP. 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while XPP 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 0.41% against 3.19% for XPP.
Holdings Overlap
QQQ and XPP share 0 holdings out of 104 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 XPP?
QQQ has an expense ratio of 0.18% while XPP 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 XPP?
Over the past year QQQ returned +25.37% vs -18.96% for XPP, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), QQQ annualized +13.10% vs -5.52% for XPP. Past performance does not guarantee future results.
Which is riskier, QQQ or XPP?
XPP has been the more volatile fund at 47.0% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs XPP -90.5%.
Should I hold both QQQ and XPP?
QQQ and XPP have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and XPP?
QQQ and XPP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, QQQ or XPP?
QQQ yields 0.41% while XPP yields 3.19%, so XPP currently pays the higher dividend yield.
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