DSPY vs QQQ
Tema S&P 500 Historical Weight ETF Strategy vs Invesco QQQ Trust, Series 1
Which is better, DSPY or QQQ?
Large Cap Blend against Large Cap Growth.
QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. DSPY is less concentrated, with 21.1% 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 | DSPY | QQQ |
|---|---|---|
| Expense Ratio | 0.18%Tie | 0.18%Tie |
| AUM | $990M | $483.5B |
| Dividend Yield | 0.75% | 0.44% |
| Holdings | 508 | 107 |
| YTD Return | +14.07% | +16.87%Best |
| 1Y Return | +18.44% | +22.98%Best |
| 3Y Return (annualized) | - | +24.98% |
| 5Y Return (annualized) | - | +14.39% |
| Volatility (annualized) | 10.5%Best | 19.7% |
| Max Drawdown | -12.2%Best | -12.6% |
| $10,000 over 1.4 years | $13,414 | $15,014Best |
| Top 10 Weight | 21.1%Best | 46.5% |
| Fund Family | Tema Global Limited | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Apr 1, 2025 | Mar 10, 1999 |
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Apr 1, 2025 to Sep 11, 2026 (1.4 years).
DSPY 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 1.4 years both funds cover.
DSPY vs QQQ Performance
Tema S&P 500 Historical Weight ETF Strategy (DSPY) is an ETF from Tema Global Limited and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year DSPY returned +18.44% while QQQ returned +22.98%. Year to date, DSPY is up 14.07% versus a gain of 16.87% 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 19.7% compared with 10.5% for DSPY. 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 -12.2% for DSPY and -12.6% 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DSPY charges 0.18% per year while QQQ charges 0.18%. On a $10,000 position that is $18 vs $18 annually. On income, DSPY currently yields 0.75% against 0.44% for QQQ.
Holdings Overlap
40.8% of DSPY's money is in holdings QQQ also owns. 94.3% of QQQ's money is in holdings DSPY also owns.
Most of QQQ is already inside DSPY. Owning both mostly buys the same companies twice.
86 positions in common, counted across the 491 positions we hold weights for in DSPY and 102 in QQQ, against full books of 508 and 107.
What only one of them owns
Our book lists 9 positions for QQQ that do not appear in our book for DSPY (2.7% of the fund), and 398 for DSPY that do not appear in QQQ (57.4%).
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.
Top Shared Holdings
| Stock | Weight in DSPY | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 4.21% | 8.44% | 4.23% |
| AAPLApple, Inc | 3.37% | 7.27% | 3.90% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.57% | 5.76% | 3.19% |
| AMZNAmazon.Com Inc | 2.13% | 4.67% | 2.54% |
| MUMicron Technology, Inc. | 1.36% | 4.43% | 3.07% |
| AVGOBroadcom Inc | 1.77% | 3.16% | 1.39% |
| GOOGLAlphabet A Usd 0.001 | 1.25% | 3.36% | 2.11% |
| AMDAdvanced Micro Devices Inc. | 1.08% | 3.45% | 2.37% |
| METAMeta Platforms, Inc. | 1.55% | 2.78% | 1.23% |
| GOOGAlphabet Inc | 1.00% | 3.13% | 2.13% |
94.3% of QQQ is already inside DSPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DSPY or QQQ?
DSPY has an expense ratio of 0.18% while QQQ charges 0.18%. At the precision these are quoted to, they cost the same.
Which performed better, DSPY or QQQ?
Over the past year DSPY returned +18.44% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), DSPY annualized +23.34% vs +33.68% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DSPY or QQQ?
QQQ has been the more volatile fund at 19.7% annualized versus 10.5% for DSPY. Worst drawdown: DSPY -12.2% vs QQQ -12.6%.
Should I hold both DSPY and QQQ?
DSPY and QQQ have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between DSPY and QQQ?
94.3% of QQQ's money is in holdings DSPY also owns. 94.3% of QQQ's is in holdings DSPY also owns. They hold 86 positions in common, counted across the 491 positions we hold weights for in DSPY and 102 in QQQ.
Which pays a higher dividend, DSPY or QQQ?
DSPY yields 0.75% while QQQ yields 0.44%, so DSPY currently pays the higher dividend yield.
Is QQQ better than DSPY?
QQQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. DSPY is less concentrated, with 21.1% 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.