QQQ vs SPMD
QQQ vs SPMD
Invesco QQQ Trust, Series 1 vs State Street SPDR Portfolio S&P 400 Mid Cap ETF
Quick Verdict
SPMD has a lower expense ratio. QQQ delivered stronger 1-year returns. SPMD offers more diversification with 401 holdings.
Side-by-Side Comparison
| Metric | QQQ | SPMD | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | |
| AUM | $455.8B | $18.4B | |
| Dividend Yield | 0.41% | 1.20% | |
| Holdings | 108 | 403 | |
| YTD Return | +18.34% | +16.43% | |
| 1Y Return | +28.94% | +24.85% | |
| 3Y Return (annualized) | +25.28% | +14.29% | |
| 5Y Return (annualized) | +15.22% | +9.19% | |
| Volatility (annualized) | 30.6% | 18.6% | |
| Max Drawdown | -83.0% | -60.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 10, 1999 | Nov 8, 2005 |
QQQ vs SPMD Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is a ETF from State Street Investment Management. Over the past year QQQ returned +28.94% while SPMD returned +24.85%. Year to date, QQQ is up 18.34% versus a gain of 16.43% for SPMD.
Over three years, QQQ compounded at +25.28% per year against +14.29% for SPMD; over five years the annualized figures are +15.22% and +9.19% respectively. Across the full 21-year window we track, QQQ has the edge at +13.12% annualized vs +7.42%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 18.6% for SPMD. 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 -60.5% for SPMD. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPMD charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, QQQ currently yields 0.41% against 1.20% for SPMD.
Holdings Overlap
QQQ and SPMD share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or SPMD?
QQQ has an expense ratio of 0.18% while SPMD charges 0.03%. SPMD is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, QQQ or SPMD?
Over the past year QQQ returned +28.94% vs +24.85% for SPMD, so QQQ leads on 1-year performance. Over the longest common window we track (21 years), QQQ annualized +13.12% vs +7.42% for SPMD. Past performance does not guarantee future results.
Which is riskier, QQQ or SPMD?
QQQ has been the more volatile fund at 30.6% annualized versus 18.6% for SPMD. Worst drawdown: QQQ -83.0% vs SPMD -60.5%.
Should I hold both QQQ and SPMD?
QQQ and SPMD have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and SPMD?
QQQ and SPMD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, QQQ or SPMD?
QQQ yields 0.41% while SPMD yields 1.20%, so SPMD currently pays the higher dividend yield.
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