QQQ vs TAX
Invesco QQQ Trust, Series 1 vs Cambria Tax Aware ETF
Which is better, QQQ or TAX?
Large Cap Growth against Large Cap Blend.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. TAX is less concentrated, with 17.5% 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 | QQQ | TAX |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.54% |
| AUM | $506.1B | $25M |
| Dividend Yield | 0.42% | 0.32% |
| Holdings | 321 | 200 |
| YTD Return | +19.30%Best | +5.03% |
| 1Y Return | +22.47%Best | +8.84% |
| 3Y Return (annualized) | +26.18% | - |
| 5Y Return (annualized) | +15.42% | - |
| Volatility (annualized) | 19.3% | 12.8%Best |
| Max Drawdown | -22.8% | -18.9%Best |
| $10,000 over 1.8 years | $14,200Best | $12,395 |
| Top 10 Weight | 46.7% | 17.5%Best |
| Fund Family | Invesco (US) | Cambria Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Dec 18, 2024 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 18, 2024 to Oct 14, 2026 (1.8 years).
QQQ vs TAX 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 1.8 years both funds cover.
QQQ vs TAX Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Cambria Tax Aware ETF (TAX) is an ETF from Cambria Investment Management. Over the past year QQQ returned +22.47% while TAX returned +8.84%. Year to date, QQQ is up 19.30% versus a gain of 5.03% for TAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 12.8% for TAX. 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 -22.8% for QQQ and -18.9% for TAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while TAX charges 0.54%. On a $10,000 position that is $18 vs $54 annually, a gap of $36 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 0.32% for TAX.
Holdings Overlap
12.1% of QQQ's money is in holdings TAX also owns. 8.9% of TAX's money is in holdings QQQ also owns.
QQQ and TAX share little of their money.
8 positions in common, counted across the 101 positions we hold weights for in QQQ and 98 in TAX, against full books of 321 and 200.
What only one of them owns
Our book lists 88 positions for TAX that do not appear in our book for QQQ (88.2% of the fund), and 85 for QQQ that do not appear in TAX (84.2%).
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.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in TAX | Difference |
|---|---|---|---|
| AMDAdvanced Micro Devices Inc | 4.17% | 2.37% | 1.80% |
| METAMeta Platforms Inc | 3.26% | 0.94% | 2.32% |
| GOOGLAlphabet Inc | 3.05% | 0.96% | 2.09% |
| WBDWarner Bros. Discovery, Inc | 0.32% | 1.06% | 0.74% |
| REGNRegeneron Pharmaceuticals, Inc. | 0.32% | 0.94% | 0.62% |
| CEGConstellation Energy Corporation Com | 0.38% | 0.86% | 0.48% |
| ADBEAdobe Systems | 0.40% | 0.79% | 0.39% |
| PYPLPaypal Holdings Inc | 0.19% | 0.96% | 0.77% |
You are not choosing between two funds in isolation.
Whichever of QQQ and TAX 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 TAX?
QQQ has an expense ratio of 0.18% while TAX charges 0.54%. QQQ is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, QQQ or TAX?
Over the past year QQQ returned +22.47% vs +8.84% for TAX, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), QQQ annualized +21.51% vs +12.67% for TAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or TAX?
QQQ has been the more volatile fund at 19.3% annualized versus 12.8% for TAX. Worst drawdown: QQQ -22.8% vs TAX -18.9%.
Should I hold both QQQ and TAX?
QQQ and TAX have a monthly-return correlation of 0.86, 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 QQQ and TAX?
12.1% of QQQ's money is in holdings TAX also owns. 8.9% of TAX's is in holdings QQQ also owns. They hold 8 positions in common, counted across the 101 positions we hold weights for in QQQ and 98 in TAX.
Which pays a higher dividend, QQQ or TAX?
QQQ yields 0.42% while TAX yields 0.32%, so QQQ currently pays the higher dividend yield.
Is TAX better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. TAX is less concentrated, with 17.5% 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.