QQQM vs SPY
QQQM vs SPY
Invesco NASDAQ 100 ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. QQQM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | QQQM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $96.5B | $789.1B | |
| Dividend Yield | 0.43% | 1.01% | |
| Holdings | 107 | 505 | |
| YTD Return | +16.86% | +13.10% | |
| 1Y Return | +26.65% | +22.80% | |
| 3Y Return (annualized) | +24.79% | +20.98% | |
| 5Y Return (annualized) | +14.96% | +13.20% | |
| Volatility (annualized) | 20.2% | 15.3% | |
| Max Drawdown | -35.0% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 13, 2020 | Jan 22, 1993 |
QQQM vs SPY Performance
Invesco NASDAQ 100 ETF (QQQM) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QQQM returned +26.65% while SPY returned +22.80%. Year to date, QQQM is up 16.86% versus a gain of 13.10% for SPY.
Over three years, QQQM compounded at +24.79% per year against +20.98% for SPY; over five years the annualized figures are +14.96% and +13.20% respectively. Across the full 6-year window we track, QQQM has the edge at +17.20% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQM has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 15.3% for SPY. 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 -35.0% for QQQM and -56.5% for SPY. 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QQQM charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, QQQM currently yields 0.43% against 1.01% for SPY.
Holdings Overlap
QQQM and SPY share 87 holdings out of 519 unique holdings combined, representing a 52.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in QQQM | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 7.52% | 7.31% | 0.21% |
| AAPL | 6.60% | 7.09% | 0.49% |
| MSFT | 4.37% | 4.43% | 0.06% |
| AMZN | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
See all 10 holdings QQQM shares with SPY 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, QQQM or SPY?
QQQM has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, QQQM or SPY?
Over the past year QQQM returned +26.65% vs +22.80% for SPY, so QQQM leads on 1-year performance. Over the longest common window we track (6 years), QQQM annualized +17.20% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, QQQM or SPY?
QQQM has been the more volatile fund at 20.2% annualized versus 15.3% for SPY. Worst drawdown: QQQM -35.0% vs SPY -56.5%.
Should I hold both QQQM and SPY?
QQQM and SPY have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between QQQM and SPY?
QQQM and SPY share 87 common holdings with a 52.2% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, QQQM or SPY?
QQQM yields 0.43% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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