QQQ vs SPXN
Invesco QQQ Trust, Series 1 vs ProShares S&P 500 Ex-Financials ETF
Which is better, QQQ or SPXN?
Large Cap Growth against Large Cap Blend.
SPXN has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. SPXN is less concentrated, with 43.9% 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 | SPXN |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $483.5B | $80M |
| Dividend Yield | 0.44% | 0.91% |
| Holdings | 107 | 397 |
| YTD Return | +16.87%Best | +13.73% |
| 1Y Return | +22.98%Best | +19.26% |
| 3Y Return (annualized) | +24.98%Best | +21.48% |
| 5Y Return (annualized) | +14.39%Best | +13.43% |
| Volatility (annualized) | 18.9% | 15.6%Best |
| Max Drawdown | -35.1% | -32.1%Best |
| $10,000 over 5 years | $19,586Best | $18,778 |
| Top 10 Weight | 46.5% | 43.9%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 11, 2026 (11 years).
QQQ vs SPXN 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 SPXN Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and ProShares S&P 500 Ex-Financials ETF (SPXN) is an ETF from ProShares. Over the past year QQQ returned +22.98% while SPXN returned +19.26%. Year to date, QQQ is up 16.87% versus a gain of 13.73% for SPXN.
Over three years, QQQ compounded at +24.98% per year against +21.48% for SPXN; over five years the annualized figures are +14.39% and +13.43% respectively. Across the full 11-year window we track, QQQ has the edge at +19.59% annualized vs +14.67%.
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 15.6% for SPXN. 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 -32.1% for SPXN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. 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 SPXN 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 0.91% for SPXN.
Holdings Overlap
94.4% of QQQ's money is in holdings SPXN also owns. 62.6% of SPXN's money is in holdings QQQ also owns.
Most of QQQ is already inside SPXN. Owning both mostly buys the same companies twice.
86 positions in common, counted across the 102 positions we hold weights for in QQQ and 396 in SPXN, against full books of 107 and 397.
What only one of them owns
Our book lists 295 positions for SPXN that do not appear in our book for QQQ (35.8% of the fund), and 9 for QQQ that do not appear in SPXN (2.6%).
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 SPXN | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.44% | 9.25% | 0.81% |
| AAPLApple, Inc | 7.27% | 7.96% | 0.69% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.76% | 6.31% | 0.55% |
| AMZNAmazon.Com Inc | 4.67% | 4.65% | 0.02% |
| GOOGLAlphabet A Usd 0.001 | 3.36% | 3.70% | 0.34% |
| AVGOBroadcom Inc | 3.16% | 3.45% | 0.29% |
| MUMicron Technology, Inc. | 4.43% | 1.75% | 2.68% |
| GOOGAlphabet Inc | 3.13% | 2.96% | 0.17% |
| METAMeta Platforms, Inc. | 2.78% | 2.25% | 0.53% |
| AMDAdvanced Micro Devices Inc. | 3.45% | 1.37% | 2.08% |
94.4% of QQQ is already inside SPXN.
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 SPXN?
QQQ has an expense ratio of 0.18% while SPXN charges 0.09%. SPXN is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, QQQ or SPXN?
Over the past year QQQ returned +22.98% vs +19.26% for SPXN, so QQQ leads on 1-year performance. Over the longest common window we track (11 years), QQQ annualized +19.59% vs +14.67% for SPXN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or SPXN?
QQQ has been the more volatile fund at 18.9% annualized versus 15.6% for SPXN. Worst drawdown: QQQ -35.1% vs SPXN -32.1%.
Should I hold both QQQ and SPXN?
QQQ and SPXN have a monthly-return correlation of 0.91, 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 SPXN?
94.4% of QQQ's money is in holdings SPXN also owns. 62.6% of SPXN's is in holdings QQQ also owns. They hold 86 positions in common, counted across the 102 positions we hold weights for in QQQ and 396 in SPXN.
Which pays a higher dividend, QQQ or SPXN?
QQQ yields 0.44% while SPXN yields 0.91%, so SPXN currently pays the higher dividend yield.
Is SPXN better than QQQ?
SPXN has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. SPXN is less concentrated, with 43.9% 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.