QQQ vs SPYH
QQQ vs SPYH
Invesco QQQ Trust, Series 1 vs NEOS S&P 500 Hedged Equity Income ETF
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. SPYH offers more diversification with 475 holdings.
Side-by-Side Comparison
| Metric | QQQ | SPYH | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.68% | |
| AUM | $455.8B | $29M | |
| Dividend Yield | 0.41% | 8.32% | |
| Holdings | 108 | 489 | |
| YTD Return | +18.20% | +2.97% | |
| 1Y Return | +27.63% | +9.83% | |
| 3Y Return (annualized) | +25.54% | - | |
| 5Y Return (annualized) | +15.12% | - | |
| Volatility (annualized) | 30.6% | 7.8% | |
| Max Drawdown | -83.0% | -7.7% | |
| Fund Family | Invesco (US) | NEOS | |
| Category | Equity | Equity | |
| Inception | Mar 10, 1999 | Apr 2, 2025 |
QQQ vs SPYH Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and NEOS S&P 500 Hedged Equity Income ETF (SPYH) is a ETF from NEOS. Over the past year QQQ returned +27.63% while SPYH returned +9.83%. Year to date, QQQ is up 18.20% versus a gain of 2.97% for SPYH.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 7.8% for SPYH. 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 -7.7% for SPYH. 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPYH charges 0.68%. On a $10,000 position that is $18 vs $68 annually, a gap of $50 per year that compounds over a long holding period. On income, QQQ currently yields 0.41% against 8.32% for SPYH.
Holdings Overlap
QQQ and SPYH share 82 holdings out of 496 unique holdings combined, representing a 49.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in SPYH | Difference |
|---|---|---|---|
| NVDA | 7.88% | 7.42% | 0.46% |
| AAPL | 7.46% | 7.74% | 0.28% |
| MSFT | 4.65% | 4.53% | 0.12% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings QQQ shares with SPYH Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, QQQ or SPYH?
QQQ has an expense ratio of 0.18% while SPYH charges 0.68%. QQQ is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, QQQ or SPYH?
Over the past year QQQ returned +27.63% vs +9.83% for SPYH, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), QQQ annualized +13.11% vs +17.45% for SPYH. Past performance does not guarantee future results.
Which is riskier, QQQ or SPYH?
QQQ has been the more volatile fund at 30.6% annualized versus 7.8% for SPYH. Worst drawdown: QQQ -83.0% vs SPYH -7.7%.
Should I hold both QQQ and SPYH?
QQQ and SPYH have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and SPYH?
QQQ and SPYH share 82 common holdings with a 49.9% weight overlap. Combined, they hold 496 unique securities.
Which pays a higher dividend, QQQ or SPYH?
QQQ yields 0.41% while SPYH yields 8.32%, so SPYH currently pays the higher dividend yield.
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