QQQ vs SLX
Invesco QQQ Trust, Series 1 vs VanEck Steel ETF
Which is better, QQQ or SLX?
Large Cap Growth against Large Cap Value.
QQQ has a lower expense ratio. QQQ led over 3Y and the full window, SLX over 1Y and 5Y. QQQ is less concentrated, with 46.7% of the fund in its ten largest positions against 56.6%.
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 | QQQ | SLX |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.55% |
| AUM | $506.1B | $159M |
| Dividend Yield | 0.42% | 1.28% |
| Holdings | 321 | 80 |
| YTD Return | +19.30%Best | +18.57% |
| 1Y Return | +22.47% | +39.38%Best |
| 3Y Return (annualized) | +26.18%Best | +19.12% |
| 5Y Return (annualized) | +15.42% | +15.93%Best |
| Volatility (annualized) | 18.6%Best | 33.7% |
| Max Drawdown | -53.5%Best | -82.1% |
| $10,000 over 5 years | $20,484 | $20,940Best |
| Top 10 Weight | 46.7%Best | 56.6% |
| Fund Family | Invesco (US) | VanEck |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Mar 10, 1999 | Oct 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Oct 16, 2006 to Oct 14, 2026 (20 years).
QQQ vs SLX 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 20 years both funds cover.
QQQ vs SLX Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and VanEck Steel ETF (SLX) is an ETF from VanEck. Over the past year QQQ returned +22.47% while SLX returned +39.38%. Year to date, QQQ is up 19.30% versus a gain of 18.57% for SLX.
Over three years, QQQ compounded at +26.18% per year against +19.12% for SLX; over five years the annualized figures are +15.42% and +15.93% respectively. Across the full 20-year window we track, QQQ has the edge at +15.47% annualized vs +7.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SLX has been the more volatile fund, with annualized monthly volatility of 33.7% compared with 18.6% 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 -53.5% for QQQ and -82.1% for SLX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while SLX charges 0.55%. On a $10,000 position that is $18 vs $55 annually, a gap of $37 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 1.28% for SLX.
Holdings Overlap
We hold position weights for 101 holdings in QQQ and 39 in SLX, totalling 99.6% and 100.1% 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 101 positions we hold weights for in QQQ and 39 in SLX, against full books of 321 and 80.
What only one of them owns
Our book lists 6 positions for SLX that do not appear in our book for QQQ (20.4% of the fund), and 93 for QQQ that do not appear in SLX (96.3%).
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 QQQ and SLX 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, QQQ or SLX?
QQQ has an expense ratio of 0.18% while SLX charges 0.55%. QQQ is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, QQQ or SLX?
Over the past year QQQ returned +22.47% vs +39.38% for SLX, so SLX leads on 1-year performance. Over the longest common window we track (20 years), QQQ annualized +15.47% vs +7.40% for SLX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SLX?
SLX has been the more volatile fund at 33.7% annualized versus 18.6% for QQQ. Worst drawdown: QQQ -53.5% vs SLX -82.1%.
Should I hold both QQQ and SLX?
QQQ and SLX have a monthly-return correlation of 0.60, 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, QQQ or SLX?
QQQ yields 0.42% while SLX yields 1.28%, so SLX currently pays the higher dividend yield.
Is SLX better than QQQ?
QQQ has a lower expense ratio. QQQ led over 3Y and the full window, SLX over 1Y and 5Y. QQQ is less concentrated, with 46.7% of the fund in its ten largest positions against 56.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.