Data as of Oct 28, 2026.
QQQ vs USFR: Differences, Returns & Fees
Over the year to Oct 28, 2026, QQQ returned +15.2% to USFR's +4.1%; 0% of their weight is in the same names.
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Net assets: $483.0bn on Oct 27, 2026 for Invesco QQQ Trust, Series 1, and $17.0bn on May 31, 2026 for WisdomTree Floating Rate Treasury Fund.
Pair scorecard
USFR costs 0.03 points a year less; their one-year returns differ by 11.1 points.
| Measure | QQQ | USFR |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.2% | +4.1% |
| Drawdown | ||
| Below its high | 4.5%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | Nasdaq-100 Index | Bloomberg U.S. Treasury Floating Rate Bond Index |
| Cost and size | ||
| Expense ratio | 0.18% | 0.15% |
| Net assets, QQQ as of Oct 27, 2026 and USFR as of May 31, 2026 | $483.0bn | $17.0bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 96% | |
| Top ten holdings, share of the fund | 46.7% | |
Holdings in common uses holdings dated May 31, 2026 and Oct 27, 2026. Method
Risk and return
Feb 14, 2014 to Oct 23, 2026 · 662 weekly returnsEach against its own benchmark: QQQ against QQQM, Oct 23, 2020 to Oct 23, 2026; USFR against TFLO, Feb 14, 2014 to Oct 23, 2026.
QQQ returned more: +769.1% to +29.1%. USFR swung less: 0.9% to 19.6%. USFR fell less at its worst: −1.4% to −35.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | QQQ | USFR | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +769.1% | +29.1% | QQQ | Price change plus distributions, reinvested. |
| Annualized | +18.5% | +2.0% | QQQ | Total return as a yearly rate. |
| Price return | +684.3% | +1.1% | QQQ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.6% | 0.9% | USFR | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.1% | 0.6% | USFR | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −35.1% | −1.4% | USFR | Deepest fall from a high to the low after it. |
| Upside capture | 100.4% | 67.2% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.2% | 0.5% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 0.01 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.86 | 0.01 | QQQ | Return above Treasury bills per unit of volatility. |
| Sortino | 1.30 | 0.01 | QQQ | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.145 | 0.006 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.53 | 1.49 | USFR | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | QQQM | TFLO | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.58 | 0.02 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.4% to +0.2% | −0.5% to +0.5% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.10 | 0.00 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.4% | 2.1% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 662 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, QQQ and USFR hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
QQQ and USFR on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: the two funds' holdings are dated 149 days apart.
QQQ
QQQ tracks the Nasdaq-100. Over the year to Oct 28, 2026 it returned +15.2% with distributions reinvested, against +15.2% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 103 positions, with the top ten at 46.7%. It sat 4.5% below its high of Oct 6, 2026 on Oct 28, 2026.
USFR
USFR tracks an index of Floating Rate Treasury. Over the year to Oct 28, 2026 it returned +4.1% with distributions reinvested, against +4.0% for its benchmark, the Bloomberg U.S. Treasury Floating Rate Bond Index. The prospectus expense ratio is 0.15% a year.
Questions people ask
- Which returned more over the last year, QQQ or USFR?
- In the year to Oct 28, 2026, with distributions reinvested, QQQ returned +15.2% and USFR +4.1%.
- Which is cheaper, QQQ or USFR?
- USFR is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, QQQ against USFR, data as of Oct 28, 2026. https://etfiq.com/compare/any/qqq-vs-usfr
ETFIQ. (Oct 28, 2026). QQQ against USFR. Retrieved from https://etfiq.com/compare/any/qqq-vs-usfr
[QQQ against USFR (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/qqq-vs-usfr)
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