QQA vs SPY
Invesco QQQ Income Advantage ETF vs State Street SPDR S&P 500 ETF Trust
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%.
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 | QQA | SPY |
|---|---|---|
| Expense Ratio | 0.29% | 0.09%Best |
| AUM | $850M | $804.7B |
| Dividend Yield | 9.92% | 0.98% |
| Holdings | 122 | 505 |
| 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 Weight | 51.0% | 37.8%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Jul 17, 2024 | Jan 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
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
| Stock | Weight in QQA | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.62% | 8.01% | 1.39% |
| AAPLApple, Inc | 5.77% | 7.26% | 1.49% |
| MSFTMicrosoft Corp | 4.68% | 5.66% | 0.98% |
| AMZNAmazon.Com Inc | 3.46% | 3.79% | 0.33% |
| GOOGLAlphabet Inc,class A | 2.45% | 2.99% | 0.54% |
| MUMicron Technology, Inc. | 3.70% | 1.60% | 2.10% |
| AVGOBroadcom Inc | 2.18% | 2.66% | 0.48% |
| GOOGAlphabet Inc | 2.27% | 2.39% | 0.12% |
| METAMeta Platforms Inc | 2.10% | 1.93% | 0.17% |
| TSLATesla Inc | 2.28% | 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.
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.