QNXT vs SPY
iShares Nasdaq-100 ex Top 30 ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. QNXT delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | QNXT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $29M | $821.1B | |
| Dividend Yield | 0.68% | 1.01% | |
| Holdings | 75 | 505 | |
| YTD Return | +17.10% | +12.22% | |
| 1Y Return | +24.48% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 16.0% | 15.3% | |
| Max Drawdown | -22.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 23, 2024 | Jan 22, 1993 |
QNXT vs SPY Performance
iShares Nasdaq-100 ex Top 30 ETF (QNXT) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QNXT returned +24.48% while SPY returned +20.83%. Year to date, QNXT is up 17.10% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
QNXT has been the more volatile fund, with annualized monthly volatility of 16.0% 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 -22.1% for QNXT 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QNXT charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, QNXT currently yields 0.68% against 1.01% for SPY.
Holdings Overlap
QNXT and SPY share 56 holdings out of 520 unique holdings combined, representing a 6.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QNXT or SPY?
QNXT has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, QNXT or SPY?
Over the past year QNXT returned +24.48% vs +20.83% for SPY, so QNXT leads on 1-year performance. Over the longest common window we track (2 years), QNXT annualized +16.35% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, QNXT or SPY?
QNXT has been the more volatile fund at 16.0% annualized versus 15.3% for SPY. Worst drawdown: QNXT -22.1% vs SPY -56.5%.
Should I hold both QNXT and SPY?
QNXT and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QNXT and SPY?
QNXT and SPY share 56 common holdings with a 6.5% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, QNXT or SPY?
QNXT yields 0.68% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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