QQQ vs TCV
Invesco QQQ Trust, Series 1 vs Towle Small-Cap Value ETF
Which is better, QQQ or TCV?
Large Cap Growth against Large Cap Value.
QQQ has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% 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 | TCV |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.85% |
| AUM | $506.1B | $202M |
| Dividend Yield | 0.42% | 0.59% |
| Holdings | 321 | 105 |
| YTD Return | +19.30% | +23.99%Best |
| 1Y Return | +22.47% | +27.95%Best |
| 3Y Return (annualized) | +26.18% | - |
| 5Y Return (annualized) | +15.42% | - |
| Volatility (annualized) | 19.9% | 16.4%Best |
| Max Drawdown | -12.0%Best | -12.2% |
| $10,000 over 1.2 years | $12,931 | $12,949Best |
| Top 10 Weight | 46.7% | 27.7%Best |
| Fund Family | Invesco (US) | Towle |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Mar 10, 1999 | Jul 16, 2025 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 17, 2025 to Oct 14, 2026 (1.2 years).
QQQ vs TCV 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 1.2 years both funds cover.
QQQ vs TCV Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Towle Small-Cap Value ETF (TCV) is an ETF from Towle. Over the past year QQQ returned +22.47% while TCV returned +27.95%. Year to date, QQQ is up 19.30% versus a gain of 23.99% for TCV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 16.4% for TCV. 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 -12.0% for QQQ and -12.2% for TCV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.37. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while TCV charges 0.85%. On a $10,000 position that is $18 vs $85 annually, a gap of $67 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 0.59% for TCV.
Holdings Overlap
We hold position weights for 101 holdings in QQQ and 51 in TCV, totalling 99.6% and 100.0% 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 51 in TCV, against full books of 321 and 105.
What only one of them owns
Our book lists 49 positions for TCV that do not appear in our book for QQQ (96.2% of the fund), and 93 for QQQ that do not appear in TCV (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 TCV 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 TCV?
QQQ has an expense ratio of 0.18% while TCV charges 0.85%. QQQ is the cheaper option, by $67 a year on a $10,000 investment.
Which performed better, QQQ or TCV?
Over the past year QQQ returned +22.47% vs +27.95% for TCV, so TCV leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +23.89% vs +24.03% for TCV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or TCV?
QQQ has been the more volatile fund at 19.9% annualized versus 16.4% for TCV. Worst drawdown: QQQ -12.0% vs TCV -12.2%.
Should I hold both QQQ and TCV?
QQQ and TCV have a monthly-return correlation of 0.37, 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 TCV?
QQQ yields 0.42% while TCV yields 0.59%, so TCV currently pays the higher dividend yield.
Is TCV better than QQQ?
QQQ has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% 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.