QQQ vs SMAY
Invesco QQQ Trust, Series 1 vs FT Vest US Small Cap Moderate Buffer ETF - May
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | SMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.90% | |
| AUM | $496.3B | $112M | |
| Dividend Yield | 0.44% | 0.00% | |
| Holdings | 108 | 5 | |
| YTD Return | +16.64% | +10.05% | |
| 1Y Return | +27.27% | +16.61% | |
| 3Y Return (annualized) | +25.96% | +11.40% | |
| 5Y Return (annualized) | +14.54% | - | |
| Volatility (annualized) | 30.6% | 9.7% | |
| Max Drawdown | -83.0% | -14.4% | |
| Fund Family | Invesco (US) | First Trust Portfolios (US) | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | May 19, 2023 |
QQQ vs SMAY Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and FT Vest US Small Cap Moderate Buffer ETF - May (SMAY) is a ETF from First Trust Portfolios (US). Over the past year QQQ returned +27.27% while SMAY returned +16.61%. Year to date, QQQ is up 16.64% versus a gain of 10.05% for SMAY.
Over three years, QQQ compounded at +25.96% per year against +11.40% for SMAY. Across the full 3-year window we track, QQQ has the edge at +13.03% annualized vs +11.32%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 9.7% for SMAY. 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 -83.0% for QQQ and -14.4% for SMAY. 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while SMAY charges 0.90%. On a $10,000 position that is $18 vs $90 annually, a gap of $72 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.00% for SMAY.
Holdings Overlap
QQQ and SMAY share 0 holdings out of 103 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or SMAY?
QQQ has an expense ratio of 0.18% while SMAY charges 0.90%. QQQ is the cheaper option. On a $10,000 investment, that is $72 per year of difference.
Which performed better, QQQ or SMAY?
Over the past year QQQ returned +27.27% vs +16.61% for SMAY, so QQQ leads on 1-year performance. Over the longest common window we track (3 years), QQQ annualized +13.03% vs +11.32% for SMAY. Past performance does not guarantee future results.
Which is riskier, QQQ or SMAY?
QQQ has been the more volatile fund at 30.6% annualized versus 9.7% for SMAY. Worst drawdown: QQQ -83.0% vs SMAY -14.4%.
Should I hold both QQQ and SMAY?
QQQ and SMAY have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and SMAY?
QQQ and SMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 103 unique securities.
Which pays a higher dividend, QQQ or SMAY?
QQQ yields 0.44% while SMAY yields 0.00%, so QQQ currently pays the higher dividend yield.
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