SPY vs QQQ: which ETF is better?
State Street SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust, Series 1 (QQQ) compared on fees, holdings overlap, dividend yield, returns and risk, using the latest data.
- SPY and QQQ have high overlap: 52% of each fund by weight sits in the same holdings.
- SPY is cheaper at 0.09% a year against 0.18% for QQQ, about $9 less in fees per $10,000 invested each year.
- Over the last 10 years, QQQ returned an average of 20.0% a year against 15.2% for SPY, with dividends reinvested.
- SPY is more diversified, with 504 holdings against 101 in QQQ.
- SPY pays more income, yielding 1.03% over the last 12 months against 0.47% for QQQ.
- Overlap by weight
- 52.1%
- Shared holdings
- 86
| SPY | QQQ | |
|---|---|---|
| Name | State Street SPDR S&P 500 ETF | Invesco QQQ Trust, Series 1 |
| Issuer | SPDR | Invesco |
| Listed on | NYSE Arca · USD | Nasdaq · USD |
| Expense ratio | 0.09% | 0.18% |
| Assets (AUM) | $778B | $446B |
| Launched | Jan 22, 1993 | Mar 10, 1999 |
| Holdings | 504 | 101 |
| Dividend yield (12m) | 1.03% · quarterly | 0.47% · quarterly |
| Asset class | Equity | Equity |
| Annualised return | SPY | QQQ |
|---|---|---|
| 1 year | +10.9% | +7.8% |
| 3 years | +20.5% | +21.8% |
| 5 years | +10.9% | +11.1% |
| 10 years | +15.2% | +20.0% |
| Volatility | 15.3% | 20.9% |
| Max drawdown | -33.7% | -35.1% |
Volatility is the annualised standard deviation of daily returns over 3 years. Max drawdown is the largest fall from a peak over the last 10 years, or since launch.
| Holding | SPY | QQQ |
|---|---|---|
| AAPLAPPLE INC | 7.92% | 8.70% |
| NVDANVIDIA CORP | 6.93% | 7.58% |
| MSFTMICROSOFT CORP | 6.27% | 6.89% |
| AMZNAMAZON.COM INC | 4.03% | 4.86% |
| GOOGLALPHABET INC CL A | 2.61% | 2.87% |
| AVGOBROADCOM INC | 2.19% | 2.40% |
| GOOGALPHABET INC CL C | 2.11% | 2.70% |
| METAMETA PLATFORMS INC CLASS A | 2.10% | 3.11% |
| TSLATESLA INC | 1.53% | 3.13% |
| MUMICRON TECHNOLOGY INC | 1.17% | 3.54% |
Pull each fund's details, full price history and holdings into Google Sheets or Excel, so your comparison updates itself.
=SF("SPY","etfInfo","expenseRatio&assetsUnderManagement&holdingsCount")=SF_TIMESERIES("SPY","2016-10-01",TODAY(),"dailyAdj")=SF("QQQ","etfInfo","expenseRatio&assetsUnderManagement&holdingsCount")=SF_TIMESERIES("QQQ","2016-10-01",TODAY(),"dailyAdj")Prices to Nov 6, 2026; holdings last checked Nov 8, 2026. Returns are in each fund's trading currency (USD). Past performance doesn't predict future returns. For information only, not investment advice.
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SPY vs QQQ: frequently asked questions
How much do SPY and QQQ overlap?
52.1% by weight. They share 86 holdings, and that share of each fund is invested in exactly the same positions. They share a large core but each adds something the other doesn't.
Is SPY or QQQ cheaper?
SPY is cheaper. SPY's expense ratio is 0.09% a year and QQQ's is 0.18%, so on $10,000 you'd pay about $9 and $18 a year.
Which has performed better, SPY or QQQ?
Over the last 10 years, QQQ has. SPY returned 15.2% and QQQ 20.0% a year on average, including reinvested dividends, as of Nov 6, 2026. Past returns don't predict future ones.
Which pays a higher dividend, SPY or QQQ?
SPY does. Over the last 12 months SPY yielded 1.03%, paid quarterly, and QQQ 0.47%, paid quarterly.
Should I hold both SPY and QQQ?
They overlap by 52%, so holding both does spread your money more widely than either alone. Whether that suits you depends on the mix you want. This is general information, not advice.
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