EWX vs QQQ

EWX vs QQQ

Which is better, EWX or QQQ?

Small Cap Blend against Large Cap Growth.

QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. EWX is less concentrated, with 3.7% of the fund in its ten largest positions against 46.5%.

Lower Fees: QQQHigher Returns: QQQLess Concentrated: EWX

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

MetricEWXQQQ
Expense Ratio0.65%0.18%Best
AUM$696M$483.5B
Dividend Yield2.50%0.44%
Holdings3,452107
YTD Return+9.95%+15.86%Best
1Y Return+11.01%+22.63%Best
3Y Return (annualized)+12.08%+24.15%Best
5Y Return (annualized)+6.19%+14.16%Best
Volatility (annualized)21.4%18.8%Best
Max Drawdown-63.9%-49.4%Best
$10,000 over 5 years$13,503$19,390Best
Top 10 Weight3.7%Best46.5%
Fund FamilySPDR State Street Global AdvisorsInvesco (US)
CategoryEquityEquity
StyleSmall Cap BlendLarge Cap Growth
InceptionMay 12, 2008Mar 10, 1999

Volatility and max drawdown are measured over the window both funds cover: May 16, 2008 to Sep 10, 2026 (18.3 years).

EWX 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.

EWX vs QQQ Performance

State Street SPDR S&P Emerging Markets Small Cap ETF (EWX) is an ETF from SPDR State Street Global Advisors and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year EWX returned +11.01% while QQQ returned +22.63%. Year to date, EWX is up 9.95% versus a gain of 15.86% for QQQ.

Over three years, EWX compounded at +12.08% per year against +24.15% for QQQ; over five years the annualized figures are +6.19% and +14.16% respectively. Across the full 18-year window we track, QQQ has the edge at +15.78% annualized vs +2.35%.

Past performance does not guarantee future results.

Risk: Volatility and Drawdowns

EWX has been the more volatile fund, with annualized monthly volatility of 21.4% compared with 18.8% for QQQ. 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 -63.9% for EWX and -49.4% 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 0.72. They usually move together, but the gap leaves some room for diversification.

Fees and Cost Over Time

EWX charges 0.65% per year while QQQ charges 0.18%. On a $10,000 position that is $65 vs $18 annually, a gap of $47 per year that compounds over a long holding period. On income, EWX currently yields 2.50% against 0.44% for QQQ.

Holdings Overlap

We hold position weights for 3,275 holdings in EWX and 102 in QQQ, totalling 97.3% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.

The two holdings books were reported 127 days apart, EWX as of Mar 31, 2026 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.

0 positions in common, counted across the 3,275 positions we hold weights for in EWX and 102 in QQQ, against full books of 3,452 and 107.

What only one of them owns

Our book lists 95 positions for QQQ that do not appear in our book for EWX (97.0% of the fund), and 57 for EWX that do not appear in QQQ (2.0%).

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 EWX and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.

EWXQQQ

Free for up to 10 holdings. No account needed.

Frequently Asked Questions

Which is cheaper, EWX or QQQ?

EWX has an expense ratio of 0.65% while QQQ charges 0.18%. QQQ is the cheaper option, by $47 a year on a $10,000 investment.

Which performed better, EWX or QQQ?

Over the past year EWX returned +11.01% vs +22.63% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (18 years), EWX annualized +2.35% vs +15.78% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.

Which is riskier, EWX or QQQ?

EWX has been the more volatile fund at 21.4% annualized versus 18.8% for QQQ. Worst drawdown: EWX -63.9% vs QQQ -49.4%.

Should I hold both EWX and QQQ?

EWX and QQQ have a monthly-return correlation of 0.72, 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, EWX or QQQ?

EWX yields 2.50% while QQQ yields 0.44%, so EWX currently pays the higher dividend yield.

Is QQQ better than EWX?

QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. EWX is less concentrated, with 3.7% 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.