MMLG vs QQQ
First Trust Multi-Manager Large Growth ETF vs Invesco QQQ Trust, Series 1
Which is better, MMLG or QQQ?
Each has led over a different period.
QQQ has a lower expense ratio. MMLG led over 1Y, QQQ over the full window. The two have moved almost in lockstep, correlation 0.94.
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 | MMLG | QQQ |
|---|---|---|
| Expense Ratio | 0.85% | 0.18%Best |
| AUM | $95M | $506.1B |
| Dividend Yield | 0.00% | 0.42% |
| Holdings | 75 | 321 |
| Volatility (annualized) | 21.3% | 20.5%Best |
| Max Drawdown | -46.0% | -35.1%Best |
| $10,000 over 5.9 years | $18,797 | $29,019Best |
| Fund Family | First Trust Portfolios (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Jul 20, 2020 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 132 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. MMLG has data through Jun 4, 2026 and QQQ through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 5.9 years row, are measured over the window both funds cover: Jul 22, 2020 to Jun 4, 2026 (5.9 years).
Risk: Volatility and Drawdowns
MMLG has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 20.5% 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 -46.0% for MMLG 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MMLG charges 0.85% per year while QQQ charges 0.18%. On a $10,000 position that is $85 vs $18 annually, a gap of $67 per year that compounds over a long holding period. On income, MMLG currently yields 0.00% against 0.42% for QQQ.
Holdings Overlap
At least 61.5% of QQQ's money is in holdings MMLG also owns.
Stated as a floor: for MMLG, our book for it covers 94.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 154 days apart, MMLG as of Apr 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.
30 positions in common, counted across the 76 positions we hold weights for in MMLG and 101 in QQQ, against full books of 75 and 321.
Top Shared Holdings
| Stock | Weight in MMLG | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 12.60% | 8.33% | 4.27% |
| AAPLApple, Inc | 4.14% | 7.35% | 3.21% |
| MSFTMicrosoft Corp | 4.69% | 5.76% | 1.07% |
| AMZNAmazon.Com Inc | 5.49% | 4.07% | 1.42% |
| GOOGLAlphabet Inc | 6.30% | 3.05% | 3.25% |
| METAMeta Platforms Inc | 4.20% | 3.26% | 0.94% |
| AVGOBroadcom Inc | 4.62% | 2.53% | 2.09% |
| MUMicron Technology, Inc. | 0.31% | 5.02% | 4.71% |
| AMDAdvanced Micro Devices Inc | 0.91% | 4.17% | 3.26% |
| TSLATesla Inc | 1.14% | 2.82% | 1.68% |
61.5% of QQQ is already inside MMLG.
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, MMLG or QQQ?
MMLG has an expense ratio of 0.85% while QQQ charges 0.18%. QQQ is the cheaper option, by $67 a year on a $10,000 investment.
Which is riskier, MMLG or QQQ?
MMLG has been the more volatile fund at 21.3% annualized versus 20.5% for QQQ. Worst drawdown: MMLG -46.0% vs QQQ -35.1%.
Should I hold both MMLG and QQQ?
MMLG and QQQ have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between MMLG and QQQ?
At least 61.5% of QQQ's money is in holdings MMLG also owns. Our book for MMLG is partial, so the real figure is this or higher. They hold 30 positions in common, counted across the 76 positions we hold weights for in MMLG and 101 in QQQ.
Which pays a higher dividend, MMLG or QQQ?
MMLG yields 0.00% while QQQ yields 0.42%, so QQQ currently pays the higher dividend yield.
Is QQQ better than MMLG?
QQQ has a lower expense ratio. MMLG led over 1Y, QQQ over the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.