QQQ vs SMAP
Invesco QQQ Trust, Series 1 vs Amplify Small-Mid Cap Equity ETF
Which is better, QQQ or SMAP?
Large Cap Growth against Small Cap Blend.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. SMAP is less concentrated, with 32.8% of the fund in its ten largest positions against 46.5%.
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 | QQQ | SMAP |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.60% |
| AUM | $483.5B | $1M |
| Dividend Yield | 0.44% | 0.42% |
| Holdings | 107 | 57 |
| Volatility (annualized) | 18.9% | 15.0%Best |
| Max Drawdown | -22.8%Best | -24.2% |
| $10,000 over 1.6 years | $15,235Best | $10,833 |
| Top 10 Weight | 46.5% | 32.8%Best |
| Fund Family | Invesco (US) | Amplify ETFs |
| Category | Equity | Equity |
| Style | Large Cap Growth | Small Cap Blend |
| Inception | Mar 10, 1999 | Oct 23, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 106 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QQQ has data through Sep 18, 2026 and SMAP through Jun 4, 2026.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Oct 23, 2024 to Jun 4, 2026 (1.6 years).
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.0% for SMAP. 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 -22.8% for QQQ and -24.2% for SMAP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while SMAP charges 0.60%. On a $10,000 position that is $18 vs $60 annually, a gap of $42 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.42% for SMAP.
Holdings Overlap
0.8% of QQQ's money is in holdings SMAP also owns. 9.7% of SMAP's money is in holdings QQQ also owns.
SMAP and QQQ share little of their money.
The two holdings books were reported 97 days apart, QQQ as of Aug 5, 2026 and SMAP as of Apr 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
4 positions in common, counted across the 102 positions we hold weights for in QQQ and 56 in SMAP, against full books of 107 and 57.
What only one of them owns
Our book lists 50 positions for SMAP that do not appear in our book for QQQ (88.1% of the fund), and 92 for QQQ that do not appear in SMAP (96.7%).
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.
You are not choosing between two funds in isolation.
Whichever of QQQ and SMAP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQ or SMAP?
QQQ has an expense ratio of 0.18% while SMAP charges 0.60%. QQQ is the cheaper option, by $42 a year on a $10,000 investment.
Which is riskier, QQQ or SMAP?
QQQ has been the more volatile fund at 18.9% annualized versus 15.0% for SMAP. Worst drawdown: QQQ -22.8% vs SMAP -24.2%.
Should I hold both QQQ and SMAP?
QQQ and SMAP have a monthly-return correlation of 0.60, 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 QQQ and SMAP?
9.7% of SMAP's money is in holdings QQQ also owns. 9.7% of SMAP's is in holdings QQQ also owns. They hold 4 positions in common, counted across the 102 positions we hold weights for in QQQ and 56 in SMAP.
Which pays a higher dividend, QQQ or SMAP?
QQQ yields 0.44% while SMAP yields 0.42%, so QQQ currently pays the higher dividend yield.
Is SMAP better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. SMAP is less concentrated, with 32.8% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.