QQQ vs THEQ
Invesco QQQ Trust, Series 1 vs T. Rowe Price Hedged Equity ETF
Which is better, QQQ or THEQ?
Large Cap Growth against Large Cap Blend.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window.
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 | THEQ |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.46% |
| AUM | $506.1B | $38M |
| Dividend Yield | 0.42% | 0.74% |
| Holdings | 321 | 120 |
| YTD Return | +19.30%Best | +8.45% |
| 1Y Return | +22.47%Best | +10.15% |
| 3Y Return (annualized) | +26.18% | - |
| 5Y Return (annualized) | +15.42% | - |
| Volatility (annualized) | 18.8% | 7.8%Best |
| Max Drawdown | -13.6% | -8.1%Best |
| $10,000 over 1.5 years | $15,037Best | $12,159 |
| Fund Family | Invesco (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Mar 26, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Oct 14, 2026 (1.5 years).
QQQ vs THEQ 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 1.5 years both funds cover.
QQQ vs THEQ Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and T. Rowe Price Hedged Equity ETF (THEQ) is an ETF from T.Rowe Price. Over the past year QQQ returned +22.47% while THEQ returned +10.15%. Year to date, QQQ is up 19.30% versus a gain of 8.45% for THEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 7.8% for THEQ. 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 -13.6% for QQQ and -8.1% for THEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while THEQ charges 0.46%. On a $10,000 position that is $18 vs $46 annually, a gap of $28 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 0.74% for THEQ.
Holdings Overlap
At least 57.6% of QQQ's money is in holdings THEQ also owns.
Stated as a floor: for THEQ, our book for it covers 93.5% 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.
32 positions in common, counted across the 101 positions we hold weights for in QQQ and 111 in THEQ, against full books of 321 and 120.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in THEQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.33% | 0.24% | 8.09% |
| AAPLApple, Inc | 7.35% | 0.07% | 7.28% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.76% | 0.26% | 5.50% |
| MUMicron Technology, Inc. | 5.02% | 0.02% | 5.00% |
| AMDAdvanced Micro Devices Inc. | 4.17% | 0.05% | 4.12% |
| METAMeta Platform Inc | 3.26% | 0.05% | 3.21% |
| GOOGAlphabet, Inc.- Cl C | 2.85% | 0.10% | 2.75% |
| AVGOBroadcom Inc | 2.53% | 0.08% | 2.45% |
| WMTWalmart, Inc. | 2.11% | 0.05% | 2.06% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.77% | 0.26% | 1.51% |
57.6% of QQQ is already inside THEQ.
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, QQQ or THEQ?
QQQ has an expense ratio of 0.18% while THEQ charges 0.46%. QQQ is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, QQQ or THEQ?
Over the past year QQQ returned +22.47% vs +10.15% for THEQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), QQQ annualized +31.25% vs +13.92% for THEQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or THEQ?
QQQ has been the more volatile fund at 18.8% annualized versus 7.8% for THEQ. Worst drawdown: QQQ -13.6% vs THEQ -8.1%.
Should I hold both QQQ and THEQ?
QQQ and THEQ have a monthly-return correlation of 0.88, 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 THEQ?
At least 57.6% of QQQ's money is in holdings THEQ also owns. Our book for THEQ is partial, so the real figure is this or higher. They hold 32 positions in common, counted across the 101 positions we hold weights for in QQQ and 111 in THEQ.
Which pays a higher dividend, QQQ or THEQ?
QQQ yields 0.42% while THEQ yields 0.74%, so THEQ currently pays the higher dividend yield.
Is THEQ better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.