QQQ vs SPMO
Invesco QQQ Trust, Series 1 vs Invesco S&P 500 Momentum ETF
Quick Verdict
SPMO has a lower expense ratio. SPMO delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | SPMO | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.13% | |
| AUM | $496.3B | $22.5B | |
| Dividend Yield | 0.44% | 0.73% | |
| Holdings | 108 | 101 | |
| YTD Return | +19.52% | +28.67% | |
| 1Y Return | +26.68% | +30.89% | |
| 3Y Return (annualized) | +26.64% | +39.23% | |
| 5Y Return (annualized) | +15.36% | +21.30% | |
| Volatility (annualized) | 30.6% | 17.6% | |
| Max Drawdown | -83.0% | -31.3% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Mar 10, 1999 | Oct 9, 2015 |
QQQ vs SPMO Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and Invesco S&P 500 Momentum ETF (SPMO) is a ETF from Invesco (US). Over the past year QQQ returned +26.68% while SPMO returned +30.89%. Year to date, QQQ is up 19.52% versus a gain of 28.67% for SPMO.
Over three years, QQQ compounded at +26.64% per year against +39.23% for SPMO; over five years the annualized figures are +15.36% and +21.30% respectively. Across the full 11-year window we track, SPMO has the edge at +18.76% annualized vs +13.14%. 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 17.6% for SPMO. 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 -31.3% for SPMO. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPMO charges 0.13%. On a $10,000 position that is $18 vs $13 annually, a gap of $5 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.73% for SPMO.
Holdings Overlap
QQQ and SPMO share 22 holdings out of 179 unique holdings combined, representing a 40.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QQQ or SPMO?
QQQ has an expense ratio of 0.18% while SPMO charges 0.13%. SPMO is the cheaper option. On a $10,000 investment, that is $5 per year of difference.
Which performed better, QQQ or SPMO?
Over the past year QQQ returned +26.68% vs +30.89% for SPMO, so SPMO leads on 1-year performance. Over the longest common window we track (11 years), QQQ annualized +13.14% vs +18.76% for SPMO. Past performance does not guarantee future results.
Which is riskier, QQQ or SPMO?
QQQ has been the more volatile fund at 30.6% annualized versus 17.6% for SPMO. Worst drawdown: QQQ -83.0% vs SPMO -31.3%.
Should I hold both QQQ and SPMO?
QQQ and SPMO have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and SPMO?
QQQ and SPMO share 22 common holdings with a 40.0% weight overlap. Combined, they hold 179 unique securities.
Which pays a higher dividend, QQQ or SPMO?
QQQ yields 0.44% while SPMO yields 0.73%, so SPMO currently pays the higher dividend yield.
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