QID vs SPY
ProShares UltraShort QQQ 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 503 holdings.
Side-by-Side Comparison
| Metric | QID | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $288M | $789.1B | |
| Dividend Yield | 6.74% | 1.01% | |
| Holdings | 21 | 505 | |
| YTD Return | -29.04% | +13.68% | |
| 1Y Return | -35.83% | +21.53% | |
| 3Y Return (annualized) | -37.14% | +21.44% | |
| 5Y Return (annualized) | -29.43% | +13.18% | |
| Volatility (annualized) | 34.8% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 11, 2006 | Jan 22, 1993 |
QID vs SPY Performance
ProShares UltraShort QQQ (QID) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QID returned -35.83% while SPY returned +21.53%. Year to date, QID is down 29.04% versus a gain of 13.68% for SPY.
Over three years, QID compounded at -37.14% per year against +21.44% for SPY; over five years the annualized figures are -29.43% and +13.18% respectively. Across the full 20-year window we track, SPY has the edge at +8.85% annualized vs -35.73%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QID has been the more volatile fund, with annualized monthly volatility of 34.8% 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 -100.0% for QID 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 -0.87. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QID charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, QID currently yields 6.74% against 1.01% for SPY.
Holdings Overlap
QID and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QID or SPY?
QID has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, QID or SPY?
Over the past year QID returned -35.83% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), QID annualized -35.73% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, QID or SPY?
QID has been the more volatile fund at 34.8% annualized versus 15.3% for SPY. Worst drawdown: QID -100.0% vs SPY -56.5%.
Should I hold both QID and SPY?
QID and SPY have a monthly-return correlation of -0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QID and SPY?
QID and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, QID or SPY?
QID yields 6.74% while SPY yields 1.01%, so QID currently pays the higher dividend yield.
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