QQLV vs SPY
Invesco QQQ Low Volatility ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | QQLV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $2M | $821.1B | |
| Dividend Yield | 2.01% | 1.01% | |
| Holdings | 28 | 505 | |
| YTD Return | +8.43% | +12.22% | |
| 1Y Return | +1.79% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 9.1% | 15.3% | |
| Max Drawdown | -9.5% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 4, 2024 | Jan 22, 1993 |
QQLV vs SPY Performance
Invesco QQQ Low Volatility ETF (QQLV) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QQLV returned +1.79% while SPY returned +20.83%. Year to date, QQLV is up 8.43% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.1% for QQLV. 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 -9.5% for QQLV 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 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQLV charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, QQLV currently yields 2.01% against 1.01% for SPY.
Holdings Overlap
QQLV and SPY share 24 holdings out of 506 unique holdings combined, representing a 10.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQLV or SPY?
QQLV has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, QQLV or SPY?
Over the past year QQLV returned +1.79% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), QQLV annualized +3.31% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, QQLV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.1% for QQLV. Worst drawdown: QQLV -9.5% vs SPY -56.5%.
Should I hold both QQLV and SPY?
QQLV and SPY have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQLV and SPY?
QQLV and SPY share 24 common holdings with a 10.3% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, QQLV or SPY?
QQLV yields 2.01% while SPY yields 1.01%, so QQLV currently pays the higher dividend yield.
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