QLC vs SPY
Northern Trust US Quality Large Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QLC or SPY?
QLC has been ahead.
SPY has a lower expense ratio. QLC led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. QLC is less concentrated, with 37.3% of the fund in its ten largest positions against 38.0%.
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 | QLC | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $1.1B | $804.7B |
| Dividend Yield | 0.91% | 0.98% |
| Holdings | 181 | 505 |
| YTD Return | +13.42%Best | +12.47% |
| 1Y Return | +20.61%Best | +17.51% |
| 3Y Return (annualized) | +24.11%Best | +21.18% |
| 5Y Return (annualized) | +14.50%Best | +12.88% |
| Volatility (annualized) | 16.4% | 15.1%Best |
| Max Drawdown | -35.9% | -34.1%Best |
| $10,000 over 5 years | $19,680Best | $18,327 |
| Top 10 Weight | 37.3%Best | 38.0% |
| Fund Family | Northern Trust Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 23, 2015 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 24, 2015 to Sep 11, 2026 (11 years).
QLC 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 11 years both funds cover.
QLC vs SPY Performance
Northern Trust US Quality Large Cap ETF (QLC) is an ETF from Northern Trust Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QLC returned +20.61% while SPY returned +17.51%. Year to date, QLC is up 13.42% versus a gain of 12.47% for SPY.
Over three years, QLC compounded at +24.11% per year against +21.18% for SPY; over five years the annualized figures are +14.50% and +12.88% respectively. Across the full 11-year window we track, QLC has the edge at +14.27% annualized vs +14.15%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QLC has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 15.1% 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 -35.9% for QLC and -34.1% 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QLC 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, QLC currently yields 0.91% against 0.98% for SPY.
Holdings Overlap
95.3% of QLC's money is in holdings SPY also owns. 67.3% of SPY's money is in holdings QLC also owns.
Most of QLC is already inside SPY. Owning both mostly buys the same companies twice.
160 positions in common, counted across the 177 positions we hold weights for in QLC and 504 in SPY, against full books of 181 and 505.
What only one of them owns
Our book lists 336 positions for SPY that do not appear in our book for QLC (32.3% of the fund), and 13 for QLC that do not appear in SPY (2.8%).
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 QLC | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.64% | 7.71% | 0.07% |
| AAPLApple, Inc | 6.92% | 6.83% | 0.09% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.34% | 5.50% | 1.16% |
| GOOGLAlphabet A Usd 0.001 | 3.81% | 3.33% | 0.48% |
| AMZNAmazon.Com Inc | 2.46% | 4.08% | 1.62% |
| GOOGAlphabet Inc | 3.39% | 2.67% | 0.72% |
| AVGOBroadcom Inc | 3.03% | 2.97% | 0.06% |
| JPMJpmorgan Chase & Co. | 1.98% | 1.44% | 0.54% |
| METAMeta Platforms, Inc. | 1.41% | 1.94% | 0.53% |
| JNJJohnson & Johnson | 1.78% | 0.92% | 0.86% |
95.3% of QLC 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, QLC or SPY?
QLC 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.
Which performed better, QLC or SPY?
Over the past year QLC returned +20.61% vs +17.51% for SPY, so QLC leads on 1-year performance. Over the longest common window we track (11 years), QLC annualized +14.27% vs +14.15% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QLC or SPY?
QLC has been the more volatile fund at 16.4% annualized versus 15.1% for SPY. Worst drawdown: QLC -35.9% vs SPY -34.1%.
Should I hold both QLC and SPY?
QLC and SPY have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between QLC and SPY?
95.3% of QLC's money is in holdings SPY also owns. 67.3% of SPY's is in holdings QLC also owns. They hold 160 positions in common, counted across the 177 positions we hold weights for in QLC and 504 in SPY.
Which pays a higher dividend, QLC or SPY?
QLC yields 0.91% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than QLC?
SPY has a lower expense ratio. QLC led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. QLC is less concentrated, with 37.3% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.