ASCE vs QQQ
Allspring SMID Core ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. ASCE delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | ASCE | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.18% | |
| AUM | - | $455.8B | |
| Dividend Yield | - | 0.41% | |
| Holdings | 52 | 108 | |
| YTD Return | +29.09% | +19.68% | |
| 1Y Return | +34.41% | +26.75% | |
| 3Y Return (annualized) | - | +26.25% | |
| 5Y Return (annualized) | - | +15.39% | |
| Volatility (annualized) | 14.4% | 30.6% | |
| Max Drawdown | -9.2% | -83.0% | |
| Fund Family | Allspring Global Investments | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jul 8, 2025 | Mar 10, 1999 |
ASCE vs QQQ Performance
Allspring SMID Core ETF (ASCE) is a ETF from Allspring Global Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year ASCE returned +34.41% while QQQ returned +26.75%. Year to date, ASCE is up 29.09% versus a gain of 19.68% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 14.4% 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 -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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
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.
Holdings Overlap
ASCE and QQQ share 0 holdings out of 154 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, ASCE or QQQ?
ASCE has an expense ratio of 0.38% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, ASCE or QQQ?
Over the past year ASCE returned +34.41% vs +26.75% for QQQ, so ASCE leads on 1-year performance. Over the longest common window we track (1 years), ASCE annualized +37.65% vs +13.15% for QQQ. Past performance does not guarantee future results.
Which is riskier, ASCE or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 14.4% for ASCE. Worst drawdown: ASCE -9.2% vs QQQ -83.0%.
Should I hold both ASCE and QQQ?
ASCE and QQQ have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ASCE and QQQ?
ASCE and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 154 unique securities.
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