QQQ vs XES
Invesco QQQ Trust, Series 1 vs State Street SPDR S&P Oil & Gas Equipment & Services ETF
Which is better, QQQ or XES?
Large Cap Growth against Small Cap Value.
QQQ has a lower expense ratio. QQQ led over 3Y, 5Y and the full window, XES over 1Y. XES is less concentrated, with 41.5% 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 | XES |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.35% |
| AUM | $483.5B | $400M |
| Dividend Yield | 0.44% | 1.07% |
| Holdings | 107 | 35 |
| YTD Return | +20.64% | +27.52%Best |
| 1Y Return | +23.70% | +48.30%Best |
| 3Y Return (annualized) | +27.63%Best | +6.49% |
| 5Y Return (annualized) | +16.15%Best | +15.56% |
| Volatility (annualized) | 18.6%Best | 39.7% |
| Max Drawdown | -53.5%Best | -96.1% |
| $10,000 over 5 years | $21,140Best | $20,608 |
| Top 10 Weight | 46.5% | 41.5%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Small Cap Value |
| Inception | Mar 10, 1999 | Jun 19, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2006 to Sep 29, 2026 (20.3 years).
QQQ vs XES 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
QQQ vs XES Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) is an ETF from State Street Investment Management. Over the past year QQQ returned +23.70% while XES returned +48.30%. Year to date, QQQ is up 20.64% versus a gain of 27.52% for XES.
Over three years, QQQ compounded at +27.63% per year against +6.49% for XES; over five years the annualized figures are +16.15% and +15.56% respectively. Across the full 20-year window we track, QQQ has the edge at +15.91% annualized vs -4.36%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XES has been the more volatile fund, with annualized monthly volatility of 39.7% compared with 18.6% for QQQ. 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 -96.1% for XES. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.46. They move together some of the time, and apart the rest.
Fees and Cost Over Time
QQQ charges 0.18% per year while XES charges 0.35%. On a $10,000 position that is $18 vs $35 annually, a gap of $17 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 1.07% for XES.
Holdings Overlap
0.3% of QQQ's money is in holdings XES also owns. 3.7% of XES's money is in holdings QQQ also owns.
XES and QQQ share little of their money.
1 positions in common, counted across the 102 positions we hold weights for in QQQ and 35 in XES, against full books of 107 and 35.
What only one of them owns
Our book lists 31 positions for XES that do not appear in our book for QQQ (84.6% of the fund), and 95 for QQQ that do not appear in XES (97.3%).
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 XES | Difference |
|---|---|---|---|
| BKRBaker Hughes Co | 0.27% | 3.71% | 3.44% |
You are not choosing between two funds in isolation.
Whichever of QQQ and XES 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 XES?
QQQ has an expense ratio of 0.18% while XES charges 0.35%. QQQ is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, QQQ or XES?
Over the past year QQQ returned +23.70% vs +48.30% for XES, so XES leads on 1-year performance. Over the longest common window we track (20 years), QQQ annualized +15.91% vs -4.36% for XES. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or XES?
XES has been the more volatile fund at 39.7% annualized versus 18.6% for QQQ. Worst drawdown: QQQ -53.5% vs XES -96.1%.
Should I hold both QQQ and XES?
QQQ and XES have a monthly-return correlation of 0.46, 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 XES?
3.7% of XES's money is in holdings QQQ also owns. 3.7% of XES's is in holdings QQQ also owns. They hold 1 positions in common, counted across the 102 positions we hold weights for in QQQ and 35 in XES.
Which pays a higher dividend, QQQ or XES?
QQQ yields 0.44% while XES yields 1.07%, so XES currently pays the higher dividend yield.
Is XES better than QQQ?
QQQ has a lower expense ratio. QQQ led over 3Y, 5Y and the full window, XES over 1Y. XES is less concentrated, with 41.5% 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.