QQEW vs SPY
First Trust Nasdaq-100 Select Equal Weight ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QQEW or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. QQEW led over the full window, SPY over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.92. QQEW is less concentrated, with 25.7% of the fund in its ten largest positions against 38.0%.
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 | QQEW | SPY |
|---|---|---|
| Expense Ratio | 0.55% | 0.09%Best |
| AUM | $1.8B | $804.7B |
| Dividend Yield | 0.19% | 0.98% |
| Holdings | 102 | 505 |
| YTD Return | +11.31% | +12.47%Best |
| 1Y Return | +14.57% | +17.51%Best |
| 3Y Return (annualized) | +14.04% | +21.18%Best |
| 5Y Return (annualized) | +6.83% | +12.88%Best |
| Volatility (annualized) | 18.4% | 15.2%Best |
| Max Drawdown | -58.2% | -56.5%Best |
| $10,000 over 5 years | $13,914 | $18,327Best |
| Top 10 Weight | 25.7%Best | 38.0% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Apr 19, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 25, 2006 to Sep 11, 2026 (20.4 years).
QQEW 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 20.4 years both funds cover.
QQEW vs SPY Performance
First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QQEW returned +14.57% while SPY returned +17.51%. Year to date, QQEW is up 11.31% versus a gain of 12.47% for SPY.
Over three years, QQEW compounded at +14.04% per year against +21.18% for SPY; over five years the annualized figures are +6.83% and +12.88% respectively. Across the full 20-year window we track, QQEW has the edge at +10.90% annualized vs +9.46%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQEW has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 15.2% 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 -58.2% for QQEW and -56.5% 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
QQEW charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, QQEW currently yields 0.19% against 0.98% for SPY.
Holdings Overlap
90.1% of QQEW's money is in holdings SPY also owns. 40.8% of SPY's money is in holdings QQEW also owns.
Most of QQEW is already inside SPY. Owning both mostly buys the same companies twice.
45 positions in common, counted across the 50 positions we hold weights for in QQEW and 504 in SPY, against full books of 102 and 505.
What only one of them owns
Our book lists 449 positions for SPY that do not appear in our book for QQEW (58.8% of the fund), and 3 for QQEW that do not appear in SPY (5.4%).
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 QQEW | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 2.03% | 7.71% | 5.68% |
| AAPLApple, Inc | 1.97% | 6.83% | 4.86% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.18% | 5.50% | 3.32% |
| AVGOBroadcom Inc | 1.61% | 2.97% | 1.36% |
| GOOGLAlphabet A Usd 0.001 | 0.86% | 3.33% | 2.47% |
| METAMeta Platforms, Inc. | 1.75% | 1.94% | 0.19% |
| GOOGAlphabet Inc | 0.86% | 2.67% | 1.81% |
| MUMicron Technology, Inc. | 1.91% | 1.51% | 0.40% |
| PANWPalo Alto Networks Inc. | 2.63% | 0.45% | 2.18% |
| AMDAdvanced Micro Devices Inc. | 1.77% | 1.27% | 0.50% |
90.1% of QQEW 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, QQEW or SPY?
QQEW has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option, by $46 a year on a $10,000 investment.
Which performed better, QQEW or SPY?
Over the past year QQEW returned +14.57% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), QQEW annualized +10.90% vs +9.46% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQEW or SPY?
QQEW has been the more volatile fund at 18.4% annualized versus 15.2% for SPY. Worst drawdown: QQEW -58.2% vs SPY -56.5%.
Should I hold both QQEW and SPY?
QQEW 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 QQEW and SPY?
90.1% of QQEW's money is in holdings SPY also owns. 40.8% of SPY's is in holdings QQEW also owns. They hold 45 positions in common, counted across the 50 positions we hold weights for in QQEW and 504 in SPY.
Which pays a higher dividend, QQEW or SPY?
QQEW yields 0.19% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than QQEW?
SPY has a lower expense ratio. QQEW led over the full window, SPY over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.92. QQEW is less concentrated, with 25.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.