QQA vs SPY

QQA vs SPY

Which is better, QQA or SPY?

Large Cap Growth against Large Cap Blend.

SPY has a lower expense ratio. QQA led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.0%.

Lower Fees: SPYHigher Returns: QQALess Concentrated: SPY

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

MetricQQASPY
Expense Ratio0.29%0.09%Best
AUM$850M$804.7B
Dividend Yield9.92%0.98%
Holdings122505
YTD Return+14.59%Best+12.09%
1Y Return+19.15%Best+16.29%
3Y Return (annualized)-+21.20%
5Y Return (annualized)-+13.37%
Volatility (annualized)12.6%12.2%Best
Max Drawdown-19.7%-18.8%Best
$10,000 over 2.2 years$14,568Best$14,062
Top 10 Weight51.0%37.8%Best
Fund FamilyInvesco (US)State Street Investment Management
CategoryEquityEquity
StyleLarge Cap GrowthLarge Cap Blend
InceptionJul 17, 2024Jan 22, 1993

Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Jul 17, 2024 to Sep 18, 2026 (2.2 years).

QQA 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 2.2 years both funds cover.

QQA vs SPY Performance

Invesco QQQ Income Advantage ETF (QQA) 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 QQA returned +19.15% while SPY returned +16.29%. Year to date, QQA is up 14.59% versus a gain of 12.09% for SPY.

Past performance does not guarantee future results.

Risk: Volatility and Drawdowns

QQA has been the more volatile fund, with annualized monthly volatility of 12.6% compared with 12.2% 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 -19.7% for QQA 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.

Fees and Cost Over Time

QQA charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, QQA currently yields 9.92% against 0.98% for SPY.

Holdings Overlap

QQA already in SPY71.5%
SPY already in QQA53.5%

71.5% of QQA's money is in holdings SPY also owns. 53.5% of SPY's money is in holdings QQA also owns.

Most of QQA is already inside SPY. Owning both mostly buys the same companies twice.

88 positions in common, counted across the 108 positions we hold weights for in QQA and 504 in SPY, against full books of 122 and 505.

What only one of them owns

Our book lists 409 positions for SPY that do not appear in our book for QQA (45.8% of the fund), and 11 for QQA that do not appear in SPY (19.8%).

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

StockWeight in QQAWeight in SPYDifference
NVDANvidia Corp6.62%8.01%1.39%
AAPLApple, Inc5.77%7.26%1.49%
MSFTMicrosoft Corp4.68%5.66%0.98%
AMZNAmazon.Com Inc3.46%3.79%0.33%
GOOGLAlphabet Inc,class A2.45%2.99%0.54%
MUMicron Technology, Inc.3.70%1.60%2.10%
AVGOBroadcom Inc2.18%2.66%0.48%
GOOGAlphabet Inc2.27%2.39%0.12%
METAMeta Platforms Inc2.10%1.93%0.17%
TSLATesla Inc2.28%1.52%0.76%

71.5% of QQA 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.

QQASPY

Free for up to 10 holdings. No account needed.

Frequently Asked Questions

Which is cheaper, QQA or SPY?

QQA has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option, by $20 a year on a $10,000 investment.

Which performed better, QQA or SPY?

Over the past year QQA returned +19.15% vs +16.29% for SPY, so QQA leads on 1-year performance. Over the longest common window we track (2 years), QQA annualized +18.65% vs +16.76% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.

Which is riskier, QQA or SPY?

QQA has been the more volatile fund at 12.6% annualized versus 12.2% for SPY. Worst drawdown: QQA -19.7% vs SPY -18.8%.

Should I hold both QQA and SPY?

QQA and SPY have a monthly-return correlation of 0.92, 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 QQA and SPY?

71.5% of QQA's money is in holdings SPY also owns. 53.5% of SPY's is in holdings QQA also owns. They hold 88 positions in common, counted across the 108 positions we hold weights for in QQA and 504 in SPY.

Which pays a higher dividend, QQA or SPY?

QQA yields 9.92% while SPY yields 0.98%, so QQA currently pays the higher dividend yield.

Is SPY better than QQA?

SPY has a lower expense ratio. QQA led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.