QCML vs SPY
GraniteShares 2x Long QCOM Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | QCML | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.09% | |
| AUM | $54M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | -29.81% | +14.24% | |
| 1Y Return | -20.29% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 121.6% | 15.3% | |
| Max Drawdown | -68.8% | -56.5% | |
| Fund Family | GraniteShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 13, 2025 | Jan 22, 1993 |
QCML vs SPY Performance
GraniteShares 2x Long QCOM Daily ETF (QCML) is a ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QCML returned -20.29% while SPY returned +21.71%. Year to date, QCML is down 29.81% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
QCML has been the more volatile fund, with annualized monthly volatility of 121.6% compared with 15.3% 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 -68.8% for QCML and -56.5% for SPY. 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QCML charges 1.50% per year while SPY charges 0.09%. On a $10,000 position that is $150 vs $9 annually, a gap of $141 per year that compounds over a long holding period. On income, QCML currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
QCML and SPY share 1 holdings out of 504 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in QCML | Weight in SPY | Difference |
|---|---|---|---|
| QCOM | 66.70% | 0.26% | 66.44% |
Frequently Asked Questions
Which is cheaper, QCML or SPY?
QCML has an expense ratio of 1.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, QCML or SPY?
Over the past year QCML returned -20.29% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), QCML annualized -29.08% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, QCML or SPY?
QCML has been the more volatile fund at 121.6% annualized versus 15.3% for SPY. Worst drawdown: QCML -68.8% vs SPY -56.5%.
Should I hold both QCML and SPY?
QCML and SPY have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QCML and SPY?
QCML and SPY share 1 common holdings with a 0.3% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, QCML or SPY?
QCML yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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