QQQ vs SPAM
Invesco QQQ Trust, Series 1 vs Themes Cybersecurity ETF
Quick Verdict
QQQ has a lower expense ratio. SPAM delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | SPAM | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.35% | |
| AUM | $496.3B | $6M | |
| Dividend Yield | 0.44% | 0.37% | |
| Holdings | 108 | 45 | |
| YTD Return | +16.23% | +42.57% | |
| 1Y Return | +26.23% | +36.59% | |
| 3Y Return (annualized) | +25.75% | - | |
| 5Y Return (annualized) | +14.78% | - | |
| Volatility (annualized) | 30.6% | 22.9% | |
| Max Drawdown | -83.0% | -24.0% | |
| Fund Family | Invesco (US) | Themes ETFs | |
| Category | Equity | Equity | |
| Inception | Mar 10, 1999 | Dec 8, 2023 |
QQQ vs SPAM Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Themes Cybersecurity ETF (SPAM) is a ETF from Themes ETFs. Over the past year QQQ returned +26.23% while SPAM returned +36.59%. Year to date, QQQ is up 16.23% versus a gain of 42.57% for SPAM.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 22.9% for SPAM. 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 -24.0% for SPAM. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPAM charges 0.35%. On a $10,000 position that is $18 vs $35 annually, a gap of $17 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.37% for SPAM.
Holdings Overlap
QQQ and SPAM share 4 holdings out of 135 unique holdings combined, representing a 3.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or SPAM?
QQQ has an expense ratio of 0.18% while SPAM charges 0.35%. QQQ is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, QQQ or SPAM?
Over the past year QQQ returned +26.23% vs +36.59% for SPAM, so SPAM leads on 1-year performance. Over the longest common window we track (3 years), QQQ annualized +13.02% vs +22.45% for SPAM. Past performance does not guarantee future results.
Which is riskier, QQQ or SPAM?
QQQ has been the more volatile fund at 30.6% annualized versus 22.9% for SPAM. Worst drawdown: QQQ -83.0% vs SPAM -24.0%.
Should I hold both QQQ and SPAM?
QQQ and SPAM have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and SPAM?
QQQ and SPAM share 4 common holdings with a 3.0% weight overlap. Combined, they hold 135 unique securities.
Which pays a higher dividend, QQQ or SPAM?
QQQ yields 0.44% while SPAM yields 0.37%, so QQQ currently pays the higher dividend yield.
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