QQQI vs SPY
NEOS Nasdaq-100 High Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | QQQI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.09% | |
| AUM | $14.2B | $821.1B | |
| Dividend Yield | 14.38% | 1.01% | |
| Holdings | 106 | 505 | |
| YTD Return | +9.14% | +12.22% | |
| 1Y Return | +17.56% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 12.6% | 15.3% | |
| Max Drawdown | -20.0% | -56.5% | |
| Fund Family | NEOS | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2024 | Jan 22, 1993 |
QQQI vs SPY Performance
NEOS Nasdaq-100 High Income ETF (QQQI) is a ETF from NEOS and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QQQI returned +17.56% while SPY returned +20.83%. Year to date, QQQI is up 9.14% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% for QQQI. 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 -20.0% for QQQI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QQQI 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, QQQI currently yields 14.38% against 1.01% for SPY.
Holdings Overlap
QQQI and SPY share 86 holdings out of 521 unique holdings combined, representing a 52.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, QQQI or SPY?
QQQI has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $59 per year of difference.
Which performed better, QQQI or SPY?
Over the past year QQQI returned +17.56% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), QQQI annualized +18.12% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, QQQI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.6% for QQQI. Worst drawdown: QQQI -20.0% vs SPY -56.5%.
Should I hold both QQQI and SPY?
QQQI and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between QQQI and SPY?
QQQI and SPY share 86 common holdings with a 52.9% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, QQQI or SPY?
QQQI yields 14.38% while SPY yields 1.01%, so QQQI currently pays the higher dividend yield.
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