QQLV vs SPY
Invesco QQQ Low Volatility ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QQLV or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 44.9%.
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 | QQLV | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $2M | $804.7B |
| Dividend Yield | 1.97% | 0.98% |
| Holdings | 28 | 505 |
| YTD Return | +4.72% | +11.52%Best |
| 1Y Return | +2.15% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 9.2%Best | 12.7% |
| Max Drawdown | -9.5%Best | -18.8% |
| $10,000 over 1.8 years | $10,215 | $12,786Best |
| Top 10 Weight | 44.9% | 38.0%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 4, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 4, 2024 to Sep 10, 2026 (1.8 years).
QQLV 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 1.8 years both funds cover.
QQLV vs SPY Performance
Invesco QQQ Low Volatility ETF (QQLV) 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 QQLV returned +2.15% while SPY returned +17.48%. Year to date, QQLV is up 4.72% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 9.2% 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 -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 0.27. They move largely independently of each other.
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 1.97% against 0.98% for SPY.
Holdings Overlap
92.1% of QQLV's money is in holdings SPY also owns. 16.0% of SPY's money is in holdings QQLV also owns.
Most of QQLV is already inside SPY. Owning both mostly buys the same companies twice.
24 positions in common, counted across the 27 positions we hold weights for in QQLV and 504 in SPY, against full books of 28 and 505.
What only one of them owns
Our book lists 470 positions for SPY that do not appear in our book for QQLV (83.5% of the fund), and 1 for QQLV that do not appear in SPY (0.0%).
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 QQLV | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 3.75% | 6.83% | 3.08% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.72% | 5.50% | 1.78% |
| CTASCintas Corp. | 5.12% | 0.10% | 5.02% |
| LINLinde Plc Ordinary Shares | 4.80% | 0.34% | 4.46% |
| COSTCostco Wholesale Corp. | 4.26% | 0.63% | 3.63% |
| AEPAmerican Electric Power Co. Inc. | 4.72% | 0.10% | 4.62% |
| EXCExelon Corp. | 4.61% | 0.07% | 4.54% |
| ADPAutomatic Data Processing, Inc. | 4.32% | 0.16% | 4.16% |
| XELXcel Energy Inc. | 4.38% | 0.07% | 4.31% |
| CSXCsx Corp. | 4.21% | 0.14% | 4.07% |
92.1% of QQLV 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, QQLV or SPY?
QQLV has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, QQLV or SPY?
Over the past year QQLV returned +2.15% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), QQLV annualized +1.19% vs +14.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQLV or SPY?
SPY has been the more volatile fund at 12.7% annualized versus 9.2% for QQLV. Worst drawdown: QQLV -9.5% vs SPY -18.8%.
Should I hold both QQLV and SPY?
QQLV and SPY have a monthly-return correlation of 0.27, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between QQLV and SPY?
92.1% of QQLV's money is in holdings SPY also owns. 16.0% of SPY's is in holdings QQLV also owns. They hold 24 positions in common, counted across the 27 positions we hold weights for in QQLV and 504 in SPY.
Which pays a higher dividend, QQLV or SPY?
QQLV yields 1.97% while SPY yields 0.98%, so QQLV currently pays the higher dividend yield.
Is SPY better than QQLV?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 44.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.