QQQ vs SWZ
Invesco QQQ Trust, Series 1 vs Total Return Securities Fund
Which is better, QQQ or SWZ?
QQQ has been ahead.
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 61.1%.
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 | SWZ |
|---|---|---|
| Expense Ratio | 0.18%Best | 1.62% |
| AUM | $506.1B | $95M |
| Dividend Yield | 0.42% | 0.00% |
| Holdings | 321 | 27 |
| YTD Return | +19.14%Best | -7.38% |
| 1Y Return | +21.45%Best | -2.86% |
| 3Y Return (annualized) | +26.10%Best | +7.42% |
| 5Y Return (annualized) | +15.25%Best | +2.83% |
| Volatility (annualized) | 30.5% | 17.2%Best |
| Max Drawdown | -83.0% | -57.7%Best |
| $10,000 over 5 years | $20,333Best | $11,497 |
| Top 10 Weight | 46.7%Best | 61.1% |
| Fund Family | Invesco (US) | Total Return Securities Fund |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Mar 10, 1999 | Aug 27, 1987 |
Volatility and max drawdown are measured over the window both funds cover: Mar 10, 1999 to Oct 15, 2026 (27.6 years).
QQQ vs SWZ 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 27.6 years both funds cover.
QQQ vs SWZ Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Total Return Securities Fund (SWZ) is an ETF from Total Return Securities Fund. Over the past year QQQ returned +21.45% while SWZ returned -2.86%. Year to date, QQQ is up 19.14% versus a loss of 7.38% for SWZ.
Over three years, QQQ compounded at +26.10% per year against +7.42% for SWZ; over five years the annualized figures are +15.25% and +2.83% respectively. Across the full 28-year window we track, QQQ has the edge at +13.04% annualized vs +7.79%.
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 17.2% for SWZ. 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 -57.7% for SWZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.42. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while SWZ charges 1.62%. On a $10,000 position that is $18 vs $162 annually, a gap of $144 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 0.00% for SWZ.
Holdings Overlap
We hold position weights for 101 holdings in QQQ and 24 in SWZ, totalling 99.6% and 97.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 184 days apart, QQQ as of Oct 1, 2026 and SWZ as of Mar 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 101 positions we hold weights for in QQQ and 24 in SWZ, against full books of 321 and 27.
What only one of them owns
Our book lists 19 positions for SWZ that do not appear in our book for QQQ (84.1% of the fund), and 94 for QQQ that do not appear in SWZ (97.2%).
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 SWZ 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 SWZ?
QQQ has an expense ratio of 0.18% while SWZ charges 1.62%. QQQ is the cheaper option, by $144 a year on a $10,000 investment.
Which performed better, QQQ or SWZ?
Over the past year QQQ returned +21.45% vs -2.86% for SWZ, so QQQ leads on 1-year performance. Over the longest common window we track (28 years), QQQ annualized +13.04% vs +7.79% for SWZ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SWZ?
QQQ has been the more volatile fund at 30.5% annualized versus 17.2% for SWZ. Worst drawdown: QQQ -83.0% vs SWZ -57.7%.
Should I hold both QQQ and SWZ?
QQQ and SWZ have a monthly-return correlation of 0.42, 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 SWZ?
QQQ yields 0.42% while SWZ yields 0.00%, so QQQ currently pays the higher dividend yield.
Is SWZ better than QQQ?
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 61.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.