QQQH vs SPY
NEOS Nasdaq-100 Hedged Equity Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QQQH or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 47.3%.
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 | QQQH | SPY |
|---|---|---|
| Expense Ratio | 0.68% | 0.09%Best |
| AUM | $397M | $811.2B |
| Dividend Yield | 9.72% | 0.98% |
| Holdings | 211 | 1,515 |
| YTD Return | +10.32% | +13.54%Best |
| 1Y Return | +12.02% | +16.25%Best |
| 3Y Return (annualized) | +22.14% | +23.72%Best |
| 5Y Return (annualized) | +9.40% | +13.95%Best |
| Volatility (annualized) | 13.0%Best | 16.8% |
| Max Drawdown | -31.2%Best | -34.1% |
| $10,000 over 5 years | $15,671 | $19,212Best |
| Top 10 Weight | 47.3% | 38.2%Best |
| Fund Family | NEOS | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Nov 8, 2024 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 20, 2019 to Oct 2, 2026 (6.8 years).
QQQH 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 6.8 years both funds cover.
QQQH vs SPY Performance
NEOS Nasdaq-100 Hedged Equity Income ETF (QQQH) is an ETF from NEOS and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QQQH returned +12.02% while SPY returned +16.25%. Year to date, QQQH is up 10.32% versus a gain of 13.54% for SPY.
Over three years, QQQH compounded at +22.14% per year against +23.72% for SPY; over five years the annualized figures are +9.40% and +13.95% respectively. Across the full 7-year window we track, SPY has the edge at +15.06% annualized vs +8.91%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 13.0% for QQQH. 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 -31.2% for QQQH 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQH charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, QQQH currently yields 9.72% against 0.98% for SPY.
Holdings Overlap
93.5% of QQQH's money is in holdings SPY also owns. 53.8% of SPY's money is in holdings QQQH also owns.
Most of QQQH is already inside SPY. Owning both mostly buys the same companies twice.
85 positions in common, counted across the 101 positions we hold weights for in QQQH and 504 in SPY, against full books of 211 and 1,515.
What only one of them owns
Our book lists 412 positions for SPY that do not appear in our book for QQQH (45.4% of the fund), and 11 for QQQH that do not appear in SPY (3.6%).
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 QQQH | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.25% | 7.78% | 0.47% |
| AAPLApple, Inc | 7.93% | 7.45% | 0.48% |
| MSFTMicrosoft Corp | 5.99% | 5.71% | 0.28% |
| AMZNAmazon.Com Inc | 4.44% | 3.78% | 0.66% |
| GOOGLAlphabet Inc,class A | 3.29% | 3.12% | 0.17% |
| MUMicron Technology, Inc. | 4.67% | 1.59% | 3.08% |
| GOOGAlphabet Inc. C | 3.05% | 2.49% | 0.56% |
| METAMeta Platforms Inc | 3.14% | 2.22% | 0.92% |
| AVGOBroadcom Inc | 2.65% | 2.48% | 0.17% |
| AMDAdvanced Micro Devices Inc | 3.61% | 1.22% | 2.39% |
93.5% of QQQH 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, QQQH or SPY?
QQQH has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, QQQH or SPY?
Over the past year QQQH returned +12.02% vs +16.25% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), QQQH annualized +8.91% vs +15.06% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQH or SPY?
SPY has been the more volatile fund at 16.8% annualized versus 13.0% for QQQH. Worst drawdown: QQQH -31.2% vs SPY -34.1%.
Should I hold both QQQH and SPY?
QQQH and SPY have a monthly-return correlation of 0.75, 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 QQQH and SPY?
93.5% of QQQH's money is in holdings SPY also owns. 53.8% of SPY's is in holdings QQQH also owns. They hold 85 positions in common, counted across the 101 positions we hold weights for in QQQH and 504 in SPY.
Which pays a higher dividend, QQQH or SPY?
QQQH yields 9.72% while SPY yields 0.98%, so QQQH currently pays the higher dividend yield.
Is SPY better than QQQH?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 47.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.