QEW vs SPY
Invesco QQQ Equal Weight ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QEW or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. QEW is less concentrated, with 13.1% of the fund in its ten largest positions against 37.8%.
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 | QEW | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $21M | $804.7B |
| Dividend Yield | 0.11% | 0.98% |
| Holdings | 106 | 505 |
| YTD Return | +20.88%Best | +12.99% |
| 1Y Return | - | +16.73% |
| 3Y Return (annualized) | - | +22.52% |
| 5Y Return (annualized) | - | +13.07% |
| Top 10 Weight | 13.1%Best | 37.8% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 18, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
QEW 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 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.
QEW vs SPY Performance
Invesco QQQ Equal Weight ETF (QEW) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, QEW is up 20.88% versus a gain of 12.99% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
QEW charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, QEW currently yields 0.11% against 0.98% for SPY.
Holdings Overlap
86.1% of QEW's money is in holdings SPY also owns. 53.9% of SPY's money is in holdings QEW also owns.
Most of QEW is already inside SPY. Owning both mostly buys the same companies twice.
87 positions in common, counted across the 103 positions we hold weights for in QEW and 504 in SPY, against full books of 106 and 505.
What only one of them owns
Our book lists 410 positions for SPY that do not appear in our book for QEW (45.4% of the fund), and 10 for QEW that do not appear in SPY (7.8%).
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 QEW | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 1.03% | 8.01% | 6.98% |
| AAPLApple, Inc | 1.00% | 7.26% | 6.26% |
| MSFTMicrosoft Corp | 1.11% | 5.66% | 4.55% |
| AMZNAmazon.Com Inc | 0.95% | 3.79% | 2.84% |
| AVGOBroadcom Inc | 0.82% | 2.66% | 1.84% |
| GOOGLAlphabet Inc,class A | 0.44% | 2.99% | 2.55% |
| GOOGAlphabet Inc | 0.44% | 2.39% | 1.95% |
| METAMeta Platforms Inc | 0.89% | 1.93% | 1.04% |
| MUMicron Technology, Inc. | 0.97% | 1.60% | 0.63% |
| TSLATesla Inc | 0.83% | 1.52% | 0.69% |
86.1% of QEW is already inside SPY.
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, QEW or SPY?
QEW has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
What is the holdings overlap between QEW and SPY?
86.1% of QEW's money is in holdings SPY also owns. 53.9% of SPY's is in holdings QEW also owns. They hold 87 positions in common, counted across the 103 positions we hold weights for in QEW and 504 in SPY.
Which pays a higher dividend, QEW or SPY?
QEW yields 0.11% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than QEW?
SPY has a lower expense ratio. QEW is less concentrated, with 13.1% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.