QQQE vs SPY
Direxion NASDAQ-100 Equal Weighted Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QQQE or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. QQQE led over 1Y and the full window, SPY over 3Y and 5Y. The two have moved almost in lockstep, correlation 0.93. QQQE is less concentrated, with 12.3% of the fund in its ten largest positions against 38.0%.
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 | QQQE | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $1.5B | $804.7B |
| Dividend Yield | 0.58% | 0.98% |
| Holdings | 103 | 505 |
| YTD Return | +15.23%Best | +11.52% |
| 1Y Return | +21.05%Best | +17.48% |
| 3Y Return (annualized) | +15.48% | +20.62%Best |
| 5Y Return (annualized) | +7.81% | +12.73%Best |
| Volatility (annualized) | 16.2% | 14.1%Best |
| Max Drawdown | -32.1%Best | -34.1% |
| $10,000 over 5 years | $14,564 | $18,205Best |
| Top 10 Weight | 12.3%Best | 38.0% |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Mar 21, 2012 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Mar 21, 2012 to Sep 10, 2026 (14.5 years).
QQQE vs SPY 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 14.5 years both funds cover.
QQQE vs SPY Performance
Direxion NASDAQ-100 Equal Weighted Index ETF (QQQE) is an ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QQQE returned +21.05% while SPY returned +17.48%. Year to date, QQQE is up 15.23% versus a gain of 11.52% for SPY.
Over three years, QQQE compounded at +15.48% per year against +20.62% for SPY; over five years the annualized figures are +7.81% and +12.73% respectively. Across the full 15-year window we track, QQQE has the edge at +13.59% annualized vs +12.94%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQE has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 14.1% for SPY. 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 -32.1% for QQQE and -34.1% for SPY. 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
QQQE charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, QQQE currently yields 0.58% against 0.98% for SPY.
Holdings Overlap
85.2% of QQQE's money is in holdings SPY also owns. 54.4% of SPY's money is in holdings QQQE also owns.
Most of QQQE is already inside SPY. Owning both mostly buys the same companies twice.
87 positions in common, counted across the 103 positions we hold weights for in QQQE and 504 in SPY, against full books of 103 and 505.
What only one of them owns
Our book lists 407 positions for SPY that do not appear in our book for QQQE (45.1% of the fund), and 8 for QQQE that do not appear in SPY (5.6%).
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 QQQE | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 0.98% | 7.71% | 6.73% |
| AAPLApple, Inc | 0.97% | 6.83% | 5.86% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 1.07% | 5.50% | 4.43% |
| AMZNAmazon.Com Inc | 1.00% | 4.08% | 3.08% |
| AVGOBroadcom Inc | 0.91% | 2.97% | 2.06% |
| GOOGLAlphabet A Usd 0.001 | 0.49% | 3.33% | 2.84% |
| GOOGAlphabet Inc | 0.49% | 2.67% | 2.18% |
| METAMeta Platforms, Inc. | 0.91% | 1.94% | 1.03% |
| MUMicron Technology, Inc. | 0.90% | 1.51% | 0.61% |
| AMDAdvanced Micro Devices Inc. | 0.98% | 1.27% | 0.29% |
85.2% of QQQE is already inside SPY.
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, QQQE or SPY?
QQQE has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, QQQE or SPY?
Over the past year QQQE returned +21.05% vs +17.48% for SPY, so QQQE leads on 1-year performance. Over the longest common window we track (15 years), QQQE annualized +13.59% vs +12.94% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQE or SPY?
QQQE has been the more volatile fund at 16.2% annualized versus 14.1% for SPY. Worst drawdown: QQQE -32.1% vs SPY -34.1%.
Should I hold both QQQE and SPY?
QQQE and SPY 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 QQQE and SPY?
85.2% of QQQE's money is in holdings SPY also owns. 54.4% of SPY's is in holdings QQQE also owns. They hold 87 positions in common, counted across the 103 positions we hold weights for in QQQE and 504 in SPY.
Which pays a higher dividend, QQQE or SPY?
QQQE yields 0.58% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than QQQE?
SPY has a lower expense ratio. QQQE led over 1Y and the full window, SPY over 3Y and 5Y. The two have moved almost in lockstep, correlation 0.93. QQQE is less concentrated, with 12.3% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.