QQQ vs ZMAY
Invesco QQQ Trust, Series 1 vs Innovator Equity Defined Protection ETF - 1 Yr May
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | ZMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.79% | |
| AUM | $496.3B | $83M | |
| Dividend Yield | 0.44% | 0.00% | |
| Holdings | 108 | 7 | |
| YTD Return | +16.64% | +3.05% | |
| 1Y Return | +27.27% | +5.30% | |
| 3Y Return (annualized) | +25.96% | - | |
| 5Y Return (annualized) | +14.54% | - | |
| Volatility (annualized) | 30.6% | 0.9% | |
| Max Drawdown | -83.0% | -0.7% | |
| Fund Family | Invesco (US) | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | May 1, 2025 |
QQQ vs ZMAY Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY) is a ETF from Innovator ETFs Trust. Over the past year QQQ returned +27.27% while ZMAY returned +5.30%. Year to date, QQQ is up 16.64% versus a gain of 3.05% for ZMAY.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 0.9% for ZMAY. 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 -0.7% for ZMAY. 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 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while ZMAY charges 0.79%. On a $10,000 position that is $18 vs $79 annually, a gap of $61 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.00% for ZMAY.
Holdings Overlap
QQQ and ZMAY share 0 holdings out of 103 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 ZMAY?
QQQ has an expense ratio of 0.18% while ZMAY charges 0.79%. QQQ is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, QQQ or ZMAY?
Over the past year QQQ returned +27.27% vs +5.30% for ZMAY, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +13.03% vs +5.98% for ZMAY. Past performance does not guarantee future results.
Which is riskier, QQQ or ZMAY?
QQQ has been the more volatile fund at 30.6% annualized versus 0.9% for ZMAY. Worst drawdown: QQQ -83.0% vs ZMAY -0.7%.
Should I hold both QQQ and ZMAY?
QQQ and ZMAY have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and ZMAY?
QQQ and ZMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, QQQ or ZMAY?
QQQ yields 0.44% while ZMAY yields 0.00%, so QQQ currently pays the higher dividend yield.
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