BWX vs QQQ
State Street SPDR Bloomberg International Treasury Bond ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. BWX offers more diversification with 1,400 holdings.
Side-by-Side Comparison
| Metric | BWX | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.18% | |
| AUM | $1.3B | $496.3B | |
| Dividend Yield | 2.40% | 0.44% | |
| Holdings | 1,400 | 108 | |
| YTD Return | -1.11% | +16.23% | |
| 1Y Return | -1.98% | +26.23% | |
| 3Y Return (annualized) | +2.12% | +25.75% | |
| 5Y Return (annualized) | -4.08% | +14.78% | |
| Volatility (annualized) | 9.0% | 30.6% | |
| Max Drawdown | -34.9% | -83.0% | |
| Fund Family | SPDR State Street Global Advisors | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Oct 2, 2007 | Mar 10, 1999 |
BWX vs QQQ Performance
State Street SPDR Bloomberg International Treasury Bond ETF (BWX) 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 BWX returned -1.98% while QQQ returned +26.23%. Year to date, BWX is down 1.11% versus a gain of 16.23% for QQQ.
Over three years, BWX compounded at +2.12% per year against +25.75% for QQQ; over five years the annualized figures are -4.08% and +14.78% respectively. Across the full 19-year window we track, QQQ has the edge at +13.02% annualized vs -0.42%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 9.0% for BWX. 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 -34.9% for BWX 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 0.38. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BWX charges 0.35% per year while QQQ charges 0.18%. On a $10,000 position that is $35 vs $18 annually, a gap of $17 per year that compounds over a long holding period. On income, BWX currently yields 2.40% against 0.44% for QQQ.
Holdings Overlap
BWX and QQQ share 0 holdings out of 104 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, BWX or QQQ?
BWX has an expense ratio of 0.35% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, BWX or QQQ?
Over the past year BWX returned -1.98% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), BWX annualized -0.42% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, BWX or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 9.0% for BWX. Worst drawdown: BWX -34.9% vs QQQ -83.0%.
Should I hold both BWX and QQQ?
BWX and QQQ have a monthly-return correlation of 0.38, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BWX and QQQ?
BWX and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, BWX or QQQ?
BWX yields 2.40% while QQQ yields 0.44%, so BWX currently pays the higher dividend yield.
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