ASCE vs. QQQS

Last updated Jun 4, 2026

ASCE (Allspring SMID Core ETF) and QQQS (Invesco NASDAQ Future Gen 200 ETF) are both Small Cap Blend Equities funds. ASCE is actively managed, while QQQS is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. ASCE charges 0.38%/yr vs 0.20%/yr for QQQS.

Performance

ASCE vs. QQQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring SMID Core ETF (ASCE) and Invesco NASDAQ Future Gen 200 ETF (QQQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASCE achieves a 22.25% return, which is significantly lower than QQQS's 27.27% return.

ASCE

• 1D: -0.38%
• 1M: 5.38%
• YTD: 22.25%
• 6M: 21.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQS

• 1D: -1.70%
• 1M: 5.91%
• YTD: 27.27%
• 6M: 27.40%
• 1Y: 79.99%
• 3Y*: 15.89%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASCE vs. QQQS - Yearly Performance Comparison

	2026 (YTD)	2025
ASCE Allspring SMID Core ETF	22.25%	8.61%
QQQS Invesco NASDAQ Future Gen 200 ETF	27.27%	26.02%

Correlation

The correlation between ASCE and QQQS is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.83

Return for Risk

ASCE vs. QQQS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQS

QQQS Risk / Return Rank: 85
QQQS Sharpe Ratio Rank: 88
QQQS Sortino Ratio Rank: 83
QQQS Omega Ratio Rank: 73
QQQS Calmar Ratio Rank: 91
QQQS Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASCE vs. QQQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring SMID Core ETF (ASCE) and Invesco NASDAQ Future Gen 200 ETF (QQQS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ASCE	QQQS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	0.63	+1.29

Drawdowns

ASCE vs. QQQS - Drawdown Comparison

The maximum ASCE drawdown since its inception was -9.22%, smaller than the maximum QQQS drawdown of -38.06%. Use the drawdown chart below to compare losses from any high point for ASCE and QQQS.

Drawdown Indicators

	ASCE	QQQS	Difference
Max Drawdown Largest peak-to-trough decline	-9.22%	-38.06%	+28.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.63%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.32%	—
Current Drawdown Current decline from peak	-0.38%	-2.55%	+2.17%
Average Drawdown Average peak-to-trough decline	-2.10%	-13.26%	+11.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.07%	—

Volatility

Volatility by Period

	ASCE	QQQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	26.90%	-7.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.25%	28.34%	-9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	28.34%	-9.09%

ASCE vs. QQQS - Expense Ratio Comparison

ASCE has a 0.38% expense ratio, which is higher than QQQS's 0.20% expense ratio.

Dividends

ASCE vs. QQQS - Dividend Comparison

ASCE's dividend yield for the trailing twelve months is around 0.18%, less than QQQS's 2.73% yield.

Position	TTM	2025	2024	2023	2022
ASCE Allspring SMID Core ETF	0.18%	0.22%	0.00%	0.00%	0.00%
QQQS Invesco NASDAQ Future Gen 200 ETF	2.73%	3.48%	0.80%	0.68%	0.04%

Frequently Asked Questions

Can I hold both ASCE and QQQS in my portfolio?

ASCE and QQQS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASCE or QQQS?

On fees, QQQS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASCE or QQQS?

QQQS is cheaper with a 0.20% expense ratio, compared with 0.38% for ASCE.

Which ETF pays a higher dividend yield, ASCE or QQQS?

QQQS has the higher dividend yield at 2.73%, compared with 0.18% for ASCE.

What is the main difference between ASCE and QQQS?

They also come from different issuers: Allspring and Invesco. Their fees differ too: 0.38% for ASCE and 0.20% for QQQS.