QMOM vs SPY
Alpha Architect US Quantitative Momentum 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 | QMOM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.28% | 0.09% | |
| AUM | $447M | $821.1B | |
| Dividend Yield | 0.48% | 1.01% | |
| Holdings | 52 | 505 | |
| YTD Return | +13.15% | +13.47% | |
| 1Y Return | +20.53% | +20.57% | |
| 3Y Return (annualized) | +20.35% | +21.83% | |
| 5Y Return (annualized) | +8.90% | +12.88% | |
| Volatility (annualized) | 21.9% | 15.3% | |
| Max Drawdown | -39.1% | -56.5% | |
| Fund Family | Alpha Architect | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 1, 2015 | Jan 22, 1993 |
QMOM vs SPY Performance
Alpha Architect US Quantitative Momentum ETF (QMOM) is a ETF from Alpha Architect and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QMOM returned +20.53% while SPY returned +20.57%. Year to date, QMOM is up 13.15% versus a gain of 13.47% for SPY.
Over three years, QMOM compounded at +20.35% per year against +21.83% for SPY; over five years the annualized figures are +8.90% and +12.88% respectively. Across the full 11-year window we track, QMOM has the edge at +11.38% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QMOM has been the more volatile fund, with annualized monthly volatility of 21.9% 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 -39.1% for QMOM 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QMOM charges 0.28% per year while SPY charges 0.09%. On a $10,000 position that is $28 vs $9 annually, a gap of $19 per year that compounds over a long holding period. On income, QMOM currently yields 0.48% against 1.01% for SPY.
Holdings Overlap
QMOM and SPY share 24 holdings out of 548 unique holdings combined, representing a 3.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QMOM or SPY?
QMOM has an expense ratio of 0.28% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $19 per year of difference.
Which performed better, QMOM or SPY?
Over the past year QMOM returned +20.53% vs +20.57% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), QMOM annualized +11.38% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, QMOM or SPY?
QMOM has been the more volatile fund at 21.9% annualized versus 15.3% for SPY. Worst drawdown: QMOM -39.1% vs SPY -56.5%.
Should I hold both QMOM and SPY?
QMOM and SPY have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QMOM and SPY?
QMOM and SPY share 24 common holdings with a 3.6% weight overlap. Combined, they hold 548 unique securities.
Which pays a higher dividend, QMOM or SPY?
QMOM yields 0.48% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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