QQQX vs SPY
QQQX vs SPY
Nuveen NASDAQ 100 Dynamic Overwrite Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. QQQX delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | QQQX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.92% | 0.09% | |
| AUM | $173M | $789.1B | |
| Dividend Yield | 7.87% | 1.01% | |
| Holdings | 284 | 505 | |
| YTD Return | +12.29% | +13.79% | |
| 1Y Return | +24.33% | +23.66% | |
| 3Y Return (annualized) | +17.54% | +21.40% | |
| 5Y Return (annualized) | +8.94% | +13.37% | |
| Volatility (annualized) | 20.2% | 15.3% | |
| Max Drawdown | -63.4% | -56.5% | |
| Fund Family | Nuveen | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2007 | Jan 22, 1993 |
QQQX vs SPY Performance
Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) is a ETF from Nuveen and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QQQX returned +24.33% while SPY returned +23.66%. Year to date, QQQX is up 12.29% versus a gain of 13.79% for SPY.
Over three years, QQQX compounded at +17.54% per year against +21.40% for SPY; over five years the annualized figures are +8.94% and +13.37% respectively. Across the full 20-year window we track, SPY has the edge at +8.85% annualized vs +4.42%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQX 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 -63.4% for QQQX 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQX charges 0.92% per year while SPY charges 0.09%. On a $10,000 position that is $92 vs $9 annually, a gap of $83 per year that compounds over a long holding period. On income, QQQX currently yields 7.87% against 1.01% for SPY.
Holdings Overlap
QQQX and SPY share 115 holdings out of 649 unique holdings combined, representing a 46.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in QQQX | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 10.24% | 7.31% | 2.93% |
| AAPL | 8.83% | 7.09% | 1.74% |
| MSFT | 7.86% | 4.43% | 3.43% |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| AMAT | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
See all 10 holdings QQQX 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, QQQX or SPY?
QQQX has an expense ratio of 0.92% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $83 per year of difference.
Which performed better, QQQX or SPY?
Over the past year QQQX returned +24.33% vs +23.66% for SPY, so QQQX leads on 1-year performance. Over the longest common window we track (20 years), QQQX annualized +4.42% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, QQQX or SPY?
QQQX has been the more volatile fund at 20.2% annualized versus 15.3% for SPY. Worst drawdown: QQQX -63.4% vs SPY -56.5%.
Should I hold both QQQX and SPY?
QQQX and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQX and SPY?
QQQX and SPY share 115 common holdings with a 46.2% weight overlap. Combined, they hold 649 unique securities.
Which pays a higher dividend, QQQX or SPY?
QQQX yields 7.87% while SPY yields 1.01%, so QQQX currently pays the higher dividend yield.
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