QQQ vs SPDW
Invesco QQQ Trust, Series 1 vs State Street SPDR Portfolio Developed World ex-US ETF
Which is better, QQQ or SPDW?
Large Cap Growth against Large Cap Blend.
SPDW has a lower expense ratio. QQQ led over 3Y, 5Y and the full window, SPDW over 1Y. SPDW is less concentrated, with 10.9% 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 | SPDW |
|---|---|---|
| Expense Ratio | 0.18% | 0.03%Best |
| AUM | $486.1B | $42.3B |
| Dividend Yield | 0.44% | 3.02% |
| Holdings | 107 | 2,440 |
| YTD Return | +17.54% | +18.07%Best |
| 1Y Return | +25.59% | +29.42%Best |
| 3Y Return (annualized) | +24.63%Best | +20.84% |
| 5Y Return (annualized) | +14.18%Best | +9.66% |
| Volatility (annualized) | 18.8% | 17.6%Best |
| Max Drawdown | -53.5%Best | -62.2% |
| $10,000 over 5 years | $19,407Best | $15,858 |
| Top 10 Weight | 46.5% | 10.9%Best |
| Fund Family | Invesco (US) | SPDR State Street Global Advisors |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Apr 20, 2007 |
Volatility and max drawdown are measured over the window both funds cover: Apr 26, 2007 to Sep 4, 2026 (19.4 years).
QQQ vs SPDW 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
QQQ vs SPDW Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is an ETF from SPDR State Street Global Advisors. Over the past year QQQ returned +25.59% while SPDW returned +29.42%. Year to date, QQQ is up 17.54% versus a gain of 18.07% for SPDW.
Over three years, QQQ compounded at +24.63% per year against +20.84% for SPDW; over five years the annualized figures are +14.18% and +9.66% respectively. Across the full 19-year window we track, QQQ has the edge at +15.38% annualized vs +3.22%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 17.6% for SPDW. 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 -53.5% for QQQ and -62.2% for SPDW. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPDW charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 3.02% for SPDW.
Holdings Overlap
2.8% of QQQ's money is in holdings SPDW also owns. 2.3% of SPDW's money is in holdings QQQ also owns.
QQQ and SPDW share little of their money.
The two holdings books were reported 127 days apart, QQQ as of Aug 5, 2026 and SPDW as of Mar 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
6 positions in common, counted across the 102 positions we hold weights for in QQQ and 2,345 in SPDW, against full books of 107 and 2,440.
What only one of them owns
Our book lists 54 positions for SPDW that do not appear in our book for QQQ (3.8% of the fund), and 94 for QQQ that do not appear in SPDW (96.6%).
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 QQQ | Weight in SPDW | Difference |
|---|---|---|---|
| ASL:ASAsml Holding Nv Unsponsored Adr Ordinary Shares | 0.68% | 1.66% | 0.98% |
| SHOP:CAShopify Inc. Cl A | 0.77% | 0.45% | 0.32% |
| ARMArm Holdings Plc Adr | 0.51% | 0.07% | 0.44% |
| ADPAutomatic Data Processing, Inc. | 0.47% | 0.01% | 0.46% |
| FER:ASFerrovial Se | 0.21% | 0.11% | 0.10% |
| TRI:CAThomson Reuters Corp. | 0.17% | 0.04% | 0.13% |
You are not choosing between two funds in isolation.
Whichever of QQQ and SPDW 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 SPDW?
QQQ has an expense ratio of 0.18% while SPDW charges 0.03%. SPDW is the cheaper option, by $15 a year on a $10,000 investment.
Which performed better, QQQ or SPDW?
Over the past year QQQ returned +25.59% vs +29.42% for SPDW, so SPDW leads on 1-year performance. Over the longest common window we track (19 years), QQQ annualized +15.38% vs +3.22% for SPDW. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SPDW?
QQQ has been the more volatile fund at 18.8% annualized versus 17.6% for SPDW. Worst drawdown: QQQ -53.5% vs SPDW -62.2%.
Should I hold both QQQ and SPDW?
QQQ and SPDW have a monthly-return correlation of 0.78, 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 SPDW?
2.8% of QQQ's money is in holdings SPDW also owns. 2.3% of SPDW's is in holdings QQQ also owns. They hold 6 positions in common, counted across the 102 positions we hold weights for in QQQ and 2,345 in SPDW.
Which pays a higher dividend, QQQ or SPDW?
QQQ yields 0.44% while SPDW yields 3.02%, so SPDW currently pays the higher dividend yield.
Is SPDW better than QQQ?
SPDW has a lower expense ratio. QQQ led over 3Y, 5Y and the full window, SPDW over 1Y. SPDW is less concentrated, with 10.9% 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.