QQQ vs SPHQ
Invesco QQQ Trust, Series 1 vs Invesco S&P 500 Quality ETF
Which is better, QQQ or SPHQ?
Large Cap Growth against Large Cap Blend.
SPHQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. SPHQ is less concentrated, with 43.1% 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 | SPHQ |
|---|---|---|
| Expense Ratio | 0.18% | 0.15%Best |
| AUM | $483.5B | $18.7B |
| Dividend Yield | 0.44% | 1.10% |
| Holdings | 107 | 102 |
| YTD Return | +17.95%Best | +11.98% |
| 1Y Return | +21.77%Best | +16.19% |
| 3Y Return (annualized) | +25.63%Best | +18.91% |
| 5Y Return (annualized) | +15.24%Best | +12.89% |
| Volatility (annualized) | 18.5% | 15.4%Best |
| Max Drawdown | -53.5%Best | -57.8% |
| $10,000 over 5 years | $20,324Best | $18,335 |
| Top 10 Weight | 46.5% | 43.1%Best |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Dec 6, 2005 |
Volatility and max drawdown are measured over the window both funds cover: Dec 6, 2005 to Sep 18, 2026 (20.8 years).
QQQ vs SPHQ 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 20.8 years both funds cover.
QQQ vs SPHQ Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Invesco S&P 500 Quality ETF (SPHQ) is an ETF from Invesco (US). Over the past year QQQ returned +21.77% while SPHQ returned +16.19%. Year to date, QQQ is up 17.95% versus a gain of 11.98% for SPHQ.
Over three years, QQQ compounded at +25.63% per year against +18.91% for SPHQ; over five years the annualized figures are +15.24% and +12.89% respectively. Across the full 21-year window we track, QQQ has the edge at +14.85% annualized vs +8.82%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.5% compared with 15.4% for SPHQ. 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 -57.8% for SPHQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPHQ charges 0.15%. On a $10,000 position that is $18 vs $15 annually, a gap of $3 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 1.10% for SPHQ.
Holdings Overlap
26.3% of QQQ's money is in holdings SPHQ also owns. 49.0% of SPHQ's money is in holdings QQQ also owns.
The two portfolios partly overlap.
26 positions in common, counted across the 102 positions we hold weights for in QQQ and 100 in SPHQ, against full books of 107 and 102.
What only one of them owns
Our book lists 73 positions for SPHQ that do not appear in our book for QQQ (50.8% of the fund), and 70 for QQQ that do not appear in SPHQ (71.2%).
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 SPHQ | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.27% | 5.32% | 1.95% |
| COSTCostco Wholesale Corp. | 1.84% | 3.94% | 2.10% |
| LRCXLrcx Uw Equity | 1.69% | 4.07% | 2.38% |
| CSCOCisco Systems Inc. - Ordinary Shares | 2.10% | 3.54% | 1.44% |
| NFLXNetflix, Inc. | 1.37% | 4.18% | 2.81% |
| AMATApplied Materials, Inc. | 1.86% | 2.37% | 0.51% |
| SNDKSandisk Corp/De | 0.88% | 3.04% | 2.16% |
| KLACKla Corp | 1.11% | 2.27% | 1.16% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 0.79% | 2.54% | 1.75% |
| TXNTexas Instrument Inc | 1.12% | 2.09% | 0.97% |
49.0% of SPHQ is already inside QQQ.
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, QQQ or SPHQ?
QQQ has an expense ratio of 0.18% while SPHQ charges 0.15%. SPHQ is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, QQQ or SPHQ?
Over the past year QQQ returned +21.77% vs +16.19% for SPHQ, so QQQ leads on 1-year performance. Over the longest common window we track (21 years), QQQ annualized +14.85% vs +8.82% for SPHQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SPHQ?
QQQ has been the more volatile fund at 18.5% annualized versus 15.4% for SPHQ. Worst drawdown: QQQ -53.5% vs SPHQ -57.8%.
Should I hold both QQQ and SPHQ?
QQQ and SPHQ have a monthly-return correlation of 0.86, 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 SPHQ?
49.0% of SPHQ's money is in holdings QQQ also owns. 49.0% of SPHQ's is in holdings QQQ also owns. They hold 26 positions in common, counted across the 102 positions we hold weights for in QQQ and 100 in SPHQ.
Which pays a higher dividend, QQQ or SPHQ?
QQQ yields 0.44% while SPHQ yields 1.10%, so SPHQ currently pays the higher dividend yield.
Is SPHQ better than QQQ?
SPHQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. SPHQ is less concentrated, with 43.1% 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.