QOWZ vs SPY
Invesco Nasdaq Free Cash Flow Achievers ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QOWZ or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 41.5%.
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 | QOWZ | SPY |
|---|---|---|
| Expense Ratio | 0.39% | 0.09%Best |
| AUM | $10M | $811.2B |
| Dividend Yield | 0.23% | 0.98% |
| Holdings | 106 | 1,515 |
| YTD Return | +5.39% | +14.77%Best |
| 1Y Return | +3.38% | +18.61%Best |
| 3Y Return (annualized) | - | +22.83% |
| 5Y Return (annualized) | - | +13.84% |
| Volatility (annualized) | 14.4% | 11.6%Best |
| Max Drawdown | -20.4% | -18.8%Best |
| $10,000 over 2.9 years | $16,006 | $17,907Best |
| Top 10 Weight | 41.5% | 38.2%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Dec 6, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Dec 6, 2023 to Oct 13, 2026 (2.9 years).
QOWZ 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 2.9 years both funds cover.
QOWZ vs SPY Performance
Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QOWZ returned +3.38% while SPY returned +18.61%. Year to date, QOWZ is up 5.39% versus a gain of 14.77% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QOWZ has been the more volatile fund, with annualized monthly volatility of 14.4% compared with 11.6% 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 -20.4% for QOWZ and -18.8% 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QOWZ charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, QOWZ currently yields 0.23% against 0.98% for SPY.
Holdings Overlap
80.0% of QOWZ's money is in holdings SPY also owns. 13.5% of SPY's money is in holdings QOWZ also owns.
Most of QOWZ is already inside SPY. Owning both mostly buys the same companies twice.
33 positions in common, counted across the 51 positions we hold weights for in QOWZ and 504 in SPY, against full books of 106 and 1,515.
What only one of them owns
Our book lists 465 positions for SPY that do not appear in our book for QOWZ (85.7% of the fund), and 18 for QOWZ that do not appear in SPY (20.0%).
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 QOWZ | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.97% | 7.78% | 2.19% |
| AVGOBroadcom Inc | 5.79% | 2.48% | 3.31% |
| MAMastercard Inc | 4.81% | 0.71% | 4.10% |
| CRMSalesforce Inc Crm Us Equity | 3.83% | 0.32% | 3.51% |
| KLACKla Corp | 3.26% | 0.34% | 2.92% |
| NOWServicenow, Inc | 2.95% | 0.22% | 2.73% |
| ADPAutomatic Data Processing, Inc. | 2.97% | 0.17% | 2.80% |
| FTNTFortinet Inc | 2.89% | 0.16% | 2.73% |
| ADBEAdobe Systems | 2.51% | 0.16% | 2.35% |
| VEEVVeeva Systems Inc | 2.49% | 0.06% | 2.43% |
80.0% of QOWZ 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, QOWZ or SPY?
QOWZ has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, QOWZ or SPY?
Over the past year QOWZ returned +3.38% vs +18.61% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QOWZ or SPY?
QOWZ has been the more volatile fund at 14.4% annualized versus 11.6% for SPY. Worst drawdown: QOWZ -20.4% vs SPY -18.8%.
Should I hold both QOWZ and SPY?
QOWZ and SPY have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between QOWZ and SPY?
80.0% of QOWZ's money is in holdings SPY also owns. 13.5% of SPY's is in holdings QOWZ also owns. They hold 33 positions in common, counted across the 51 positions we hold weights for in QOWZ and 504 in SPY.
Which pays a higher dividend, QOWZ or SPY?
QOWZ yields 0.23% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than QOWZ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 41.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.