FMQQ vs SPY
The Next Frontier Internet ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FMQQ or SPY?
Allocation/Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 63.9%.
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 | FMQQ | SPY |
|---|---|---|
| Expense Ratio | 0.86% | 0.09%Best |
| AUM | $22M | $814.4B |
| Dividend Yield | 0.69% | 1.01% |
| Holdings | 38 | 505 |
| YTD Return | -6.58% | +13.34%Best |
| 1Y Return | -12.83% | +19.97%Best |
| 3Y Return (annualized) | +6.29% | +21.20%Best |
| 5Y Return (annualized) | -12.28% | +12.81%Best |
| Volatility (annualized) | 22.9% | 15.7%Best |
| Max Drawdown | -64.5% | -24.5%Best |
| $10,000 over 5 years | $5,194 | $18,270Best |
| Top 10 Weight | 63.9% | 38.0%Best |
| Fund Family | Exchange Traded Concepts Trust | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Blend |
| Inception | Sep 27, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 28, 2021 to Sep 4, 2026 (4.9 years).
FMQQ vs SPY 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 4.9 years both funds cover.
FMQQ vs SPY Performance
The Next Frontier Internet ETF (FMQQ) is an ETF from Exchange Traded Concepts Trust and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FMQQ returned -12.83% while SPY returned +19.97%. Year to date, FMQQ is down 6.58% versus a gain of 13.34% for SPY.
Over three years, FMQQ compounded at +6.29% per year against +21.20% for SPY; over five years the annualized figures are -12.28% and +12.81% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMQQ has been the more volatile fund, with annualized monthly volatility of 22.9% compared with 15.7% for SPY. 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 -64.5% for FMQQ and -24.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMQQ charges 0.86% per year while SPY charges 0.09%. On a $10,000 position that is $86 vs $9 annually, a gap of $77 per year that compounds over a long holding period. On income, FMQQ currently yields 0.69% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 38 holdings in FMQQ and 504 in SPY, totalling 100.2% and 100.0% 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 65 days apart, FMQQ as of May 31, 2026 and SPY as of Aug 4, 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 38 positions we hold weights for in FMQQ and 504 in SPY, against full books of 38 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for FMQQ (99.5% of the fund), and 7 for FMQQ that do not appear in SPY (24.1%).
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 FMQQ and SPY 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, FMQQ or SPY?
FMQQ has an expense ratio of 0.86% while SPY charges 0.09%. SPY is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, FMQQ or SPY?
Over the past year FMQQ returned -12.83% vs +19.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMQQ or SPY?
FMQQ has been the more volatile fund at 22.9% annualized versus 15.7% for SPY. Worst drawdown: FMQQ -64.5% vs SPY -24.5%.
Should I hold both FMQQ and SPY?
FMQQ and SPY have a monthly-return correlation of 0.73, 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, FMQQ or SPY?
FMQQ yields 0.69% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FMQQ?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 63.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.