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EQQQ.L vs. SPY5.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EQQQ.L vs. SPY5.L

Last updated Jun 14, 2026

EQQQ.L (Invesco EQQQ NASDAQ-100 UCITS ETF) and SPY5.L (State Street SPDR S&P 500 UCITS ETF) are both exchange-traded funds - EQQQ.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SPY5.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, EQQQ.L returned 22.24%/yr vs 15.83%/yr for SPY5.L. Their correlation of 0.85 suggests significant overlap in exposure. EQQQ.L charges 0.30%/yr vs 0.09%/yr for SPY5.L.

Performance

EQQQ.L vs. SPY5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) and State Street SPDR S&P 500 UCITS ETF (SPY5.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EQQQ.L is traded in GBp, while SPY5.L is traded in USD. To make them comparable, the SPY5.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, EQQQ.L achieves a 17.18% return, which is significantly higher than SPY5.L's 9.17% return. Over the past 10 years, EQQQ.L has outperformed SPY5.L with an annualized return of 22.24%, while SPY5.L has yielded a comparatively lower 15.83% annualized return.

EQQQ.L

1D
2.53%
1M
0.63%
YTD
17.18%
6M
17.41%
1Y
38.39%
3Y*
23.63%
5Y*
17.89%
10Y*
22.24%

SPY5.L

1D
2.40%
1M
-0.64%
YTD
9.17%
6M
9.50%
1Y
26.73%
3Y*
18.41%
5Y*
14.44%
10Y*
15.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EQQQ.L vs. SPY5.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		17.18%11.54%28.55%47.79%-25.54%29.59%43.32%33.69%4.64%20.12%
SPY5.L
State Street SPDR S&P 500 UCITS ETF		9.17%9.06%27.55%20.31%-9.01%30.50%14.06%25.47%0.15%11.07%

Correlation

The correlation between EQQQ.L and SPY5.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.86

Correlation (5Y)
Calculated over the trailing 5-year period

0.85

Correlation (10Y)
Calculated over the trailing 10-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Mar 19, 2012

0.85

The correlation between EQQQ.L and SPY5.L has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

EQQQ.L vs. SPY5.L - Sectors Allocation Comparison

Sectors
EQQQ.L
SPY5.L

Technology

59.0%
35.6%

Communication Services

13.7%
11.2%

Consumer Cyclical

10.9%
10.1%

Consumer Defensive

6.8%
4.9%

Healthcare

3.8%
8.5%

Industrials

2.9%
8.3%

Utilities

1.2%
2.3%

Basic Materials

1.1%
1.8%

Energy

0.5%
3.5%

Financial Services

0.2%
11.8%

Real Estate

0.0%
1.9%

Technology

EQQQ.L
59.0%
SPY5.L
35.6%

Communication Services

EQQQ.L
13.7%
SPY5.L
11.2%

Consumer Cyclical

EQQQ.L
10.9%
SPY5.L
10.1%

Consumer Defensive

EQQQ.L
6.8%
SPY5.L
4.9%

Healthcare

EQQQ.L
3.8%
SPY5.L
8.5%

Industrials

EQQQ.L
2.9%
SPY5.L
8.3%

Utilities

EQQQ.L
1.2%
SPY5.L
2.3%

Basic Materials

EQQQ.L
1.1%
SPY5.L
1.8%

Energy

EQQQ.L
0.5%
SPY5.L
3.5%

Financial Services

EQQQ.L
0.2%
SPY5.L
11.8%

Real Estate

EQQQ.L
0.0%
SPY5.L
1.9%

Compare stocks, funds, or ETFs

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Invesco EQQQ NASDAQ-100 UCITS ETF

State Street SPDR S&P 500 UCITS ETF

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Often compared with SPY5.L:
SPY5.L vs. SPYSPY5.L vs. CSPX.LSPY5.L vs. VUSA.DESPY5.L vs. VOOSPY5.L vs. CSP1.LSPY5.L vs. VUAA.LSPY5.L vs. SWRD.L

Return for Risk

EQQQ.L vs. SPY5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EQQQ.L
EQQQ.L Risk / Return Rank: 7979
Overall Rank
EQQQ.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
EQQQ.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
EQQQ.L Omega Ratio Rank: 8484
Omega Ratio Rank
EQQQ.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
EQQQ.L Martin Ratio Rank: 6363
Martin Ratio Rank
SPY5.L
SPY5.L Risk / Return Rank: 7474
Overall Rank
SPY5.L Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
SPY5.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
SPY5.L Omega Ratio Rank: 7474
Omega Ratio Rank
SPY5.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
SPY5.L Martin Ratio Rank: 7676
Martin Ratio Rank
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.

EQQQ.L vs. SPY5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) and State Street SPDR S&P 500 UCITS ETF (SPY5.L). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

EQQQ.LSPY5.LDifference
Sharpe ratioReturn per unit of total volatility
2.45
2.18

+0.27

Sortino ratioReturn per unit of downside risk
3.23
3.00

+0.23

Omega ratioGain probability vs. loss probability

1.43

1.40

+0.03

Calmar ratioReturn relative to maximum drawdown

3.41

3.70

-0.29

Martin ratioReturn relative to average drawdown

9.90

12.38

-2.48

EQQQ.L vs. SPY5.L - Sharpe Ratio Comparison

The current EQQQ.L Sharpe Ratio is 2.45, which is comparable to the SPY5.L Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of EQQQ.L and SPY5.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EQQQ.L vs. SPY5.L - Drawdown Comparison

The maximum EQQQ.L drawdown since its inception was -65.36%, which is greater than SPY5.L's maximum drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for EQQQ.L and SPY5.L.

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Drawdown Indicators

EQQQ.LSPY5.LDifference

Max Drawdown

Largest peak-to-trough decline

-65.36%

-25.97%

-39.39%

Max Drawdown (1Y)

Largest decline over 1 year

-10.97%

-7.19%

-3.78%

Max Drawdown (3Y)

Largest decline over 3 years

-24.09%

-21.10%

-2.99%

Max Drawdown (5Y)

Largest decline over 5 years

-27.76%

-21.10%

-6.66%

Max Drawdown (10Y)

Largest decline over 10 years

-27.76%

-25.97%

-1.79%

Current Drawdown

Current decline from peak

-2.85%

-1.63%

-1.22%

Average Drawdown

Average peak-to-trough decline

-12.50%

-3.26%

-9.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.79%

2.15%

+1.64%

Volatility

EQQQ.L vs. SPY5.L - Volatility Comparison

Invesco EQQQ NASDAQ-100 UCITS ETF (EQQQ.L) has a higher volatility of 5.78% compared to State Street SPDR S&P 500 UCITS ETF (SPY5.L) at 4.55%. This indicates that EQQQ.L's price experiences larger fluctuations and is considered to be riskier than SPY5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EQQQ.LSPY5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.78%

4.55%

+1.23%

Volatility (6M)

Calculated over the trailing 6-month period

11.18%

9.08%

+2.10%

Volatility (1Y)

Calculated over the trailing 1-year period

15.31%

12.26%

+3.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.23%

15.42%

+3.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.39%

16.48%

+2.91%

EQQQ.L vs. SPY5.L - Expense Ratio Comparison

EQQQ.L has a 0.30% expense ratio, which is higher than SPY5.L's 0.09% expense ratio.

Dividends

EQQQ.L vs. SPY5.L - Dividend Comparison

EQQQ.L's dividend yield for the trailing twelve months is around 0.23%, less than SPY5.L's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF		0.23%0.29%0.38%0.39%0.56%0.25%0.41%0.56%0.63%0.67%0.77%0.72%
SPY5.L
State Street SPDR S&P 500 UCITS ETF		0.90%0.97%1.06%1.19%1.40%0.99%1.28%1.44%1.77%1.51%1.64%1.73%

Frequently Asked Questions

EQQQ.L and SPY5.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPY5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.30% for EQQQ.L.

EQQQ.L is categorized as Nasdaq-100, while SPY5.L is S&P 500. EQQQ.L tracks NASDAQ-100 Index, while SPY5.L tracks S&P 500. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.30% for EQQQ.L and 0.09% for SPY5.L.

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