ASCE vs QQQ
Allspring SMID Core ETF vs Invesco QQQ Trust, Series 1
Which is better, ASCE or QQQ?
Small Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. ASCE led over 1Y and the full window. ASCE is less concentrated, with 26.7% of the fund in its ten largest positions against 46.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ASCE | QQQ |
|---|---|---|
| Expense Ratio | 0.38% | 0.18%Best |
| AUM | $181M | $486.1B |
| Dividend Yield | 0.17% | 0.44% |
| Holdings | 53 | 107 |
| YTD Return | +28.88%Best | +17.54% |
| 1Y Return | +31.93%Best | +25.59% |
| 3Y Return (annualized) | - | +24.63% |
| 5Y Return (annualized) | - | +14.18% |
| Volatility (annualized) | 13.9%Best | 20.4% |
| Max Drawdown | -9.2%Best | -12.0% |
| $10,000 over 1.2 years | $14,361Best | $13,207 |
| Top 10 Weight | 26.7%Best | 46.5% |
| Fund Family | Allspring Global Investments | Invesco (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Growth |
| Inception | Jul 8, 2025 | Mar 10, 1999 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 8, 2025 to Sep 4, 2026 (1.2 years).
ASCE vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.2 years both funds cover.
ASCE vs QQQ Performance
Allspring SMID Core ETF (ASCE) is an ETF from Allspring Global Investments and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year ASCE returned +31.93% while QQQ returned +25.59%. Year to date, ASCE is up 28.88% versus a gain of 17.54% for QQQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 20.4% compared with 13.9% for ASCE. 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 -9.2% for ASCE and -12.0% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ASCE charges 0.38% per year while QQQ charges 0.18%. On a $10,000 position that is $38 vs $18 annually, a gap of $20 per year that compounds over a long holding period. On income, ASCE currently yields 0.17% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 51 holdings in ASCE and 102 in QQQ, totalling 100.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 51 positions we hold weights for in ASCE and 102 in QQQ, against full books of 53 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for ASCE (97.5% of the fund), and 49 for ASCE that do not appear in QQQ (95.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of ASCE and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ASCE or QQQ?
ASCE has an expense ratio of 0.38% while QQQ charges 0.18%. QQQ is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, ASCE or QQQ?
Over the past year ASCE returned +31.93% vs +25.59% for QQQ, so ASCE leads on 1-year performance. Over the longest common window we track (1 years), ASCE annualized +35.20% vs +26.09% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ASCE or QQQ?
QQQ has been the more volatile fund at 20.4% annualized versus 13.9% for ASCE. Worst drawdown: ASCE -9.2% vs QQQ -12.0%.
Should I hold both ASCE and QQQ?
ASCE and QQQ have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, ASCE or QQQ?
ASCE yields 0.17% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Is QQQ better than ASCE?
QQQ has a lower expense ratio. ASCE led over 1Y and the full window. ASCE is less concentrated, with 26.7% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.