QQEW vs SPY
First Trust Nasdaq-100 Select Equal Weight ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. QQEW delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | QQEW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $1.9B | $821.1B | |
| Dividend Yield | 0.20% | 1.01% | |
| Holdings | 52 | 505 | |
| YTD Return | +17.68% | +14.24% | |
| 1Y Return | +21.82% | +21.71% | |
| 3Y Return (annualized) | +16.55% | +22.10% | |
| 5Y Return (annualized) | +8.36% | +13.21% | |
| Volatility (annualized) | 18.4% | 15.3% | |
| Max Drawdown | -58.2% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 19, 2006 | Jan 22, 1993 |
QQEW vs SPY Performance
First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QQEW returned +21.82% while SPY returned +21.71%. Year to date, QQEW is up 17.68% versus a gain of 14.24% for SPY.
Over three years, QQEW compounded at +16.55% per year against +22.10% for SPY; over five years the annualized figures are +8.36% and +13.21% respectively. Across the full 20-year window we track, QQEW has the edge at +11.24% annualized vs +8.86%. 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 15.3% 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 -58.2% for QQEW 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 0.93. 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 0.20% against 1.01% for SPY.
Holdings Overlap
QQEW and SPY share 45 holdings out of 509 unique holdings combined, representing a 21.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $46 per year of difference.
Which performed better, QQEW or SPY?
Over the past year QQEW returned +21.82% vs +21.71% for SPY, so QQEW leads on 1-year performance. Over the longest common window we track (20 years), QQEW annualized +11.24% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, QQEW or SPY?
QQEW has been the more volatile fund at 18.4% annualized versus 15.3% 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 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between QQEW and SPY?
QQEW and SPY share 45 common holdings with a 21.6% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, QQEW or SPY?
QQEW yields 0.20% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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