ASG vs QQQ
Liberty All-Star Growth Fund Inc. vs Invesco QQQ Trust, Series 1
Which is better, ASG or QQQ?
Mid Cap Growth against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. ASG is less concentrated, with 21.1% of the fund in its ten largest positions against 46.7%.
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 | ASG | QQQ |
|---|---|---|
| Expense Ratio | 1.12% | 0.18%Best |
| AUM | $376M | $506.1B |
| Dividend Yield | 8.05% | 0.42% |
| Holdings | 119 | 321 |
| YTD Return | +0.96% | +19.30%Best |
| 1Y Return | -1.26% | +22.47%Best |
| 3Y Return (annualized) | +9.85% | +26.18%Best |
| 5Y Return (annualized) | -2.63% | +15.42%Best |
| Volatility (annualized) | 22.3%Best | 30.5% |
| Max Drawdown | -84.5% | -83.0%Best |
| $10,000 over 5 years | $8,752 | $20,484Best |
| Top 10 Weight | 21.1%Best | 46.7% |
| Fund Family | Liberty All Star Funds | Invesco (US) |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Growth |
| Inception | Mar 14, 1986 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Mar 10, 1999 to Oct 14, 2026 (27.6 years).
ASG 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 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.
ASG vs QQQ Performance
Liberty All-Star Growth Fund Inc. (ASG) is an ETF from Liberty All Star Funds and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year ASG returned -1.26% while QQQ returned +22.47%. Year to date, ASG is up 0.96% versus a gain of 19.30% for QQQ.
Over three years, ASG compounded at +9.85% per year against +26.18% for QQQ; over five years the annualized figures are -2.63% and +15.42% respectively. Across the full 28-year window we track, QQQ has the edge at +13.05% 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 30.5% compared with 22.3% for ASG. 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 -84.5% for ASG and -83.0% 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 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ASG charges 1.12% per year while QQQ charges 0.18%. On a $10,000 position that is $112 vs $18 annually, a gap of $94 per year that compounds over a long holding period. On income, ASG currently yields 8.05% against 0.42% for QQQ.
Holdings Overlap
25.4% of ASG's money is in holdings QQQ also owns. 52.8% of QQQ's money is in holdings ASG also owns.
The two portfolios partly overlap.
The two holdings books were reported 93 days apart, ASG as of Jun 30, 2026 and QQQ as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
25 positions in common, counted across the 118 positions we hold weights for in ASG and 101 in QQQ, against full books of 119 and 321.
What only one of them owns
Our book lists 68 positions for QQQ that do not appear in our book for ASG (43.5% of the fund), and 82 for ASG that do not appear in QQQ (66.5%).
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 ASG | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 3.82% | 8.33% | 4.51% |
| AAPLApple, Inc | 1.46% | 7.35% | 5.89% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 1.18% | 5.76% | 4.58% |
| GOOGLAlphabet Inc-cl A | 3.71% | 3.05% | 0.66% |
| MUMicron Technology, Inc. | 0.68% | 5.02% | 4.34% |
| AMDAdvanced Micro Devices Inc. | 0.54% | 4.17% | 3.63% |
| METAMeta Platform Inc | 1.28% | 3.26% | 1.98% |
| AMZNAmazon.Com Inc | 0.44% | 4.07% | 3.63% |
| AVGOBroadcom Inc | 1.09% | 2.53% | 1.44% |
| PANWPalo Alto Networks Inc. | 0.85% | 1.35% | 0.50% |
52.8% of QQQ is already inside ASG.
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, ASG or QQQ?
ASG has an expense ratio of 1.12% while QQQ charges 0.18%. QQQ is the cheaper option, by $94 a year on a $10,000 investment.
Which performed better, ASG or QQQ?
Over the past year ASG returned -1.26% vs +22.47% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (28 years), ASG annualized -1.04% vs +13.05% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ASG or QQQ?
QQQ has been the more volatile fund at 30.5% annualized versus 22.3% for ASG. Worst drawdown: ASG -84.5% vs QQQ -83.0%.
Should I hold both ASG and QQQ?
ASG and QQQ have a monthly-return correlation of 0.61, 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 ASG and QQQ?
52.8% of QQQ's money is in holdings ASG also owns. 52.8% of QQQ's is in holdings ASG also owns. They hold 25 positions in common, counted across the 118 positions we hold weights for in ASG and 101 in QQQ.
Which pays a higher dividend, ASG or QQQ?
ASG yields 8.05% while QQQ yields 0.42%, so ASG currently pays the higher dividend yield.
Is QQQ better than ASG?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. ASG is less concentrated, with 21.1% of the fund in its ten largest positions against 46.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.