QQQ vs SPXE
Invesco QQQ Trust, Series 1 vs ProShares S&P 500 Ex-Energy ETF
Which is better, QQQ or SPXE?
Large Cap Growth against Large Cap Blend.
SPXE has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. SPXE is less concentrated, with 39.1% 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 | SPXE |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $483.5B | $86M |
| Dividend Yield | 0.44% | 0.94% |
| Holdings | 107 | 483 |
| YTD Return | +15.94%Best | +11.22% |
| 1Y Return | +20.44%Best | +15.44% |
| 3Y Return (annualized) | +24.86%Best | +21.25% |
| 5Y Return (annualized) | +14.26%Best | +12.37% |
| Volatility (annualized) | 18.9% | 15.2%Best |
| Max Drawdown | -35.1% | -32.3%Best |
| $10,000 over 5 years | $19,475Best | $17,916 |
| Top 10 Weight | 46.5% | 39.1%Best |
| Fund Family | Invesco (US) | ProShares |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 10, 1999 | Sep 22, 2015 |
Volatility and max drawdown are measured over the window both funds cover: Sep 24, 2015 to Sep 14, 2026 (11 years).
QQQ vs SPXE 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 11 years both funds cover.
QQQ vs SPXE Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and ProShares S&P 500 Ex-Energy ETF (SPXE) is an ETF from ProShares. Over the past year QQQ returned +20.44% while SPXE returned +15.44%. Year to date, QQQ is up 15.94% versus a gain of 11.22% for SPXE.
Over three years, QQQ compounded at +24.86% per year against +21.25% for SPXE; over five years the annualized figures are +14.26% and +12.37% respectively. Across the full 11-year window we track, QQQ has the edge at +19.49% annualized vs +14.39%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.2% for SPXE. 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 -32.3% for SPXE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QQQ charges 0.18% per year while SPXE charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 0.94% for SPXE.
Holdings Overlap
94.1% of QQQ's money is in holdings SPXE also owns. 55.8% of SPXE's money is in holdings QQQ also owns.
Most of QQQ is already inside SPXE. Owning both mostly buys the same companies twice.
85 positions in common, counted across the 102 positions we hold weights for in QQQ and 481 in SPXE, against full books of 107 and 483.
What only one of them owns
Our book lists 384 positions for SPXE that do not appear in our book for QQQ (43.0% of the fund), and 11 for QQQ that do not appear in SPXE (3.4%).
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 SPXE | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 8.37% | 0.07% |
| AAPLApple, Inc | 7.27% | 7.28% | 0.01% |
| MSFTMicrosoft Corp | 5.76% | 5.90% | 0.14% |
| AMZNAmazon.Com Inc | 4.67% | 3.98% | 0.69% |
| GOOGLAlphabet Inc,class A | 3.36% | 3.11% | 0.25% |
| MUMicron Technology, Inc. | 4.43% | 1.69% | 2.74% |
| AVGOBroadcom Inc | 3.16% | 2.74% | 0.42% |
| GOOGAlphabet Inc | 3.13% | 2.48% | 0.65% |
| METAMeta Platforms Inc | 2.78% | 1.97% | 0.81% |
| AMDAdvanced Micro Devices Inc | 3.45% | 1.20% | 2.25% |
94.1% of QQQ is already inside SPXE.
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 SPXE?
QQQ has an expense ratio of 0.18% while SPXE charges 0.09%. SPXE is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, QQQ or SPXE?
Over the past year QQQ returned +20.44% vs +15.44% for SPXE, so QQQ leads on 1-year performance. Over the longest common window we track (11 years), QQQ annualized +19.49% vs +14.39% for SPXE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SPXE?
QQQ has been the more volatile fund at 18.9% annualized versus 15.2% for SPXE. Worst drawdown: QQQ -35.1% vs SPXE -32.3%.
Should I hold both QQQ and SPXE?
QQQ and SPXE have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between QQQ and SPXE?
94.1% of QQQ's money is in holdings SPXE also owns. 55.8% of SPXE's is in holdings QQQ also owns. They hold 85 positions in common, counted across the 102 positions we hold weights for in QQQ and 481 in SPXE.
Which pays a higher dividend, QQQ or SPXE?
QQQ yields 0.44% while SPXE yields 0.94%, so SPXE currently pays the higher dividend yield.
Is SPXE better than QQQ?
SPXE has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. SPXE is less concentrated, with 39.1% 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.