QQQ vs SPLV
Invesco QQQ Trust, Series 1 vs Invesco S&P 500 Low Volatility ETF
Which is better, QQQ or SPLV?
Large Cap Growth against Large Cap Value.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. SPLV is less concentrated, with 12.5% 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 | SPLV |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.25% |
| AUM | $483.5B | $7.1B |
| Dividend Yield | 0.44% | 2.18% |
| Holdings | 107 | 111 |
| YTD Return | +17.95%Best | +3.45% |
| 1Y Return | +21.77%Best | +2.67% |
| 3Y Return (annualized) | +25.63%Best | +8.09% |
| 5Y Return (annualized) | +15.24%Best | +5.36% |
| Volatility (annualized) | 17.5% | 11.6%Best |
| Max Drawdown | -35.1%Best | -36.6% |
| $10,000 over 5 years | $20,324Best | $12,983 |
| Top 10 Weight | 46.5% | 12.5%Best |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Mar 10, 1999 | May 5, 2011 |
Volatility and max drawdown are measured over the window both funds cover: May 5, 2011 to Sep 18, 2026 (15.4 years).
QQQ vs SPLV 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 15.4 years both funds cover.
QQQ vs SPLV Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Invesco S&P 500 Low Volatility ETF (SPLV) is an ETF from Invesco (US). Over the past year QQQ returned +21.77% while SPLV returned +2.67%. Year to date, QQQ is up 17.95% versus a gain of 3.45% for SPLV.
Over three years, QQQ compounded at +25.63% per year against +8.09% for SPLV; over five years the annualized figures are +15.24% and +5.36% respectively. Across the full 15-year window we track, QQQ has the edge at +18.03% annualized vs +8.05%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 11.6% for SPLV. 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 -35.1% for QQQ and -36.6% for SPLV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.53. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPLV charges 0.25%. On a $10,000 position that is $18 vs $25 annually, a gap of $7 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 2.18% for SPLV.
Holdings Overlap
9.1% of QQQ's money is in holdings SPLV also owns. 11.8% of SPLV's money is in holdings QQQ also owns.
SPLV and QQQ share little of their money.
13 positions in common, counted across the 102 positions we hold weights for in QQQ and 101 in SPLV, against full books of 107 and 111.
What only one of them owns
Our book lists 87 positions for SPLV that do not appear in our book for QQQ (87.2% of the fund), and 83 for QQQ that do not appear in SPLV (88.5%).
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 SPLV | Difference |
|---|---|---|---|
| WMTWalmart, Inc. | 2.41% | 0.72% | 1.69% |
| COSTCostco Wholesale Corp. | 1.84% | 0.96% | 0.88% |
| LINLinde Plc Ordinary Shares | 1.00% | 1.08% | 0.08% |
| PEPPepsico Inc. | 0.83% | 0.77% | 0.06% |
| ADPAutomatic Data Processing, Inc. | 0.47% | 1.07% | 0.60% |
| CTASCintas Corp. | 0.35% | 1.19% | 0.84% |
| MNSTMonster Beverage Corp. | 0.41% | 1.00% | 0.59% |
| AEPAmerican Electric Power Co Inc | 0.30% | 1.01% | 0.71% |
| EXCExelon | 0.21% | 1.02% | 0.81% |
| MDLZMondelez International Inc Com A Npv | 0.35% | 0.82% | 0.47% |
You are not choosing between two funds in isolation.
Whichever of QQQ and SPLV 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 SPLV?
QQQ has an expense ratio of 0.18% while SPLV charges 0.25%. QQQ is the cheaper option, by $7 a year on a $10,000 investment.
Which performed better, QQQ or SPLV?
Over the past year QQQ returned +21.77% vs +2.67% for SPLV, so QQQ leads on 1-year performance. Over the longest common window we track (15 years), QQQ annualized +18.03% vs +8.05% for SPLV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SPLV?
QQQ has been the more volatile fund at 17.5% annualized versus 11.6% for SPLV. Worst drawdown: QQQ -35.1% vs SPLV -36.6%.
Should I hold both QQQ and SPLV?
QQQ and SPLV have a monthly-return correlation of 0.53, 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 SPLV?
11.8% of SPLV's money is in holdings QQQ also owns. 11.8% of SPLV's is in holdings QQQ also owns. They hold 13 positions in common, counted across the 102 positions we hold weights for in QQQ and 101 in SPLV.
Which pays a higher dividend, QQQ or SPLV?
QQQ yields 0.44% while SPLV yields 2.18%, so SPLV currently pays the higher dividend yield.
Is SPLV better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. SPLV is less concentrated, with 12.5% 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.