AMAX vs QQQ
Adaptive Hedged Multi-Asset Income ETF vs Invesco QQQ Trust, Series 1
Which is better, AMAX or QQQ?
Preferred Stock against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.7% of the fund in its ten largest positions against 68.9%.
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 | AMAX | QQQ |
|---|---|---|
| Expense Ratio | 1.36% | 0.18%Best |
| AUM | $75M | $506.1B |
| Dividend Yield | 12.31% | 0.42% |
| Holdings | 23 | 321 |
| YTD Return | +2.73% | +19.30%Best |
| 1Y Return | -0.53% | +22.47%Best |
| 3Y Return (annualized) | +9.84% | +26.18%Best |
| 5Y Return (annualized) | +3.02% | +15.42%Best |
| Volatility (annualized) | 9.3%Best | 20.9% |
| Max Drawdown | -16.3%Best | -35.1% |
| $10,000 over 5 years | $11,604 | $20,484Best |
| Top 10 Weight | 68.9% | 46.7%Best |
| Fund Family | Adaptive ETFs | Invesco (US) |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Growth |
| Inception | Oct 2, 2009 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Nov 15, 2021 to Oct 14, 2026 (4.9 years).
AMAX vs QQQ 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 4.9 years both funds cover.
AMAX vs QQQ Performance
Adaptive Hedged Multi-Asset Income ETF (AMAX) is an ETF from Adaptive ETFs and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year AMAX returned -0.53% while QQQ returned +22.47%. Year to date, AMAX is up 2.73% versus a gain of 19.30% for QQQ.
Over three years, AMAX compounded at +9.84% per year against +26.18% for QQQ; over five years the annualized figures are +3.02% and +15.42% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 9.3% for AMAX. 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 -16.3% for AMAX and -35.1% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AMAX charges 1.36% per year while QQQ charges 0.18%. On a $10,000 position that is $136 vs $18 annually, a gap of $118 per year that compounds over a long holding period. On income, AMAX currently yields 12.31% against 0.42% for QQQ.
Holdings Overlap
We hold position weights for 15 holdings in AMAX and 101 in QQQ, totalling 100.6% and 99.6% 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 15 positions we hold weights for in AMAX and 101 in QQQ, against full books of 23 and 321.
What only one of them owns
Our book lists 93 positions for QQQ that do not appear in our book for AMAX (96.3% of the fund), and 5 for AMAX that do not appear in QQQ (34.4%).
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.
You are not choosing between two funds in isolation.
Whichever of AMAX and QQQ 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, AMAX or QQQ?
AMAX has an expense ratio of 1.36% while QQQ charges 0.18%. QQQ is the cheaper option, by $118 a year on a $10,000 investment.
Which performed better, AMAX or QQQ?
Over the past year AMAX returned -0.53% vs +22.47% for QQQ, so QQQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AMAX or QQQ?
QQQ has been the more volatile fund at 20.9% annualized versus 9.3% for AMAX. Worst drawdown: AMAX -16.3% vs QQQ -35.1%.
Should I hold both AMAX and QQQ?
AMAX and QQQ have a monthly-return correlation of 0.70, 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, AMAX or QQQ?
AMAX yields 12.31% while QQQ yields 0.42%, so AMAX currently pays the higher dividend yield.
Is QQQ better than AMAX?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.7% of the fund in its ten largest positions against 68.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.