ALLW vs QQQ
State Street Bridgewater All Weather ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | ALLW | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.18% | |
| AUM | $1.6B | $455.8B | |
| Dividend Yield | 4.40% | 0.41% | |
| Holdings | 44 | 108 | |
| YTD Return | +8.14% | +17.85% | |
| 1Y Return | +18.68% | +26.45% | |
| 3Y Return (annualized) | - | +26.07% | |
| 5Y Return (annualized) | - | +15.16% | |
| Volatility (annualized) | 9.0% | 30.6% | |
| Max Drawdown | -8.8% | -83.0% | |
| Fund Family | SPDR State Street Global Advisors | Invesco (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Mar 5, 2025 | Mar 10, 1999 |
ALLW vs QQQ Performance
State Street Bridgewater All Weather ETF (ALLW) is a ETF from SPDR State Street Global Advisors and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year ALLW returned +18.68% while QQQ returned +26.45%. Year to date, ALLW is up 8.14% versus a gain of 17.85% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 9.0% for ALLW. 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 -8.8% for ALLW and -83.0% for QQQ. 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ALLW charges 0.85% per year while QQQ charges 0.18%. On a $10,000 position that is $85 vs $18 annually, a gap of $67 per year that compounds over a long holding period. On income, ALLW currently yields 4.40% against 0.41% for QQQ.
Holdings Overlap
ALLW and QQQ share 0 holdings out of 126 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, ALLW or QQQ?
ALLW has an expense ratio of 0.85% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $67 per year of difference.
Which performed better, ALLW or QQQ?
Over the past year ALLW returned +18.68% vs +26.45% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), ALLW annualized +16.92% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, ALLW or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 9.0% for ALLW. Worst drawdown: ALLW -8.8% vs QQQ -83.0%.
Should I hold both ALLW and QQQ?
ALLW and QQQ have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ALLW and QQQ?
ALLW and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 126 unique securities.
Which pays a higher dividend, ALLW or QQQ?
ALLW yields 4.40% while QQQ yields 0.41%, so ALLW currently pays the higher dividend yield.
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