GSPY vs. QQQ

Last updated Jun 24, 2026

GSPY (Gotham Enhanced 500 ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - GSPY is a Large Cap Blend Equities fund actively managed by Gotham, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. GSPY is actively managed, while QQQ is passively managed. Over the past 5 years, GSPY returned 13.07%/yr vs 16.01%/yr for QQQ. Their correlation of 0.92 suggests significant overlap in exposure. GSPY charges 0.50%/yr vs 0.18%/yr for QQQ.

Performance

GSPY vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Enhanced 500 ETF (GSPY) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSPY achieves a 8.61% return, which is significantly lower than QQQ's 16.45% return.

GSPY

• 1D: -1.16%
• 1M: -1.05%
• YTD: 8.61%
• 6M: 7.81%
• 1Y: 25.00%
• 3Y*: 20.71%
• 5Y*: 13.07%
• 10Y*: —

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

GSPY vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GSPY Gotham Enhanced 500 ETF	8.61%	18.28%	23.58%	26.01%	-17.07%	27.53%	0.25%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	0.34%

Correlation

The correlation between GSPY and QQQ is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 29, 2020	0.92

The correlation between GSPY and QQQ has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

GSPY vs. QQQ - Sectors Allocation Comparison

Sectors	GSPY	QQQ
Technology	38.5%	58.7%
Financial Services	11.4%	0.2%
Consumer Cyclical	11.0%	11.4%
Communication Services	10.1%	14.3%
Healthcare	8.8%	3.7%
Industrials	8.0%	2.6%
Consumer Defensive	5.6%	6.4%
Energy	2.7%	0.5%
Real Estate	2.1%	0.1%
Basic Materials	1.2%	1.0%
Utilities	0.7%	1.2%

Return for Risk

GSPY vs. QQQ — Risk / Return Rank

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

GSPY

GSPY Risk / Return Rank: 64
GSPY Sharpe Ratio Rank: 63
GSPY Sortino Ratio Rank: 59
GSPY Omega Ratio Rank: 63
GSPY Calmar Ratio Rank: 63
GSPY Martin Ratio Rank: 72

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

GSPY vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Enhanced 500 ETF (GSPY) and Invesco QQQ ETF (QQQ). 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.

	GSPY	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.95	0.00
Sortino ratio: Return per unit of downside risk	2.59	2.57	+0.03
Omega ratio: Gain probability vs. loss probability	1.36	1.35	+0.01
Calmar ratio: Return relative to maximum drawdown	2.91	2.93	-0.02
Martin ratio: Return relative to average drawdown	12.73	10.86	+1.86

GSPY vs. QQQ - Sharpe Ratio Comparison

The current GSPY Sharpe Ratio is 1.96, which is comparable to the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of GSPY and QQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSPY vs. QQQ - Drawdown Comparison

The maximum GSPY drawdown since its inception was -23.30%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for GSPY and QQQ.

Drawdown Indicators

	GSPY	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.30%	-82.97%	+59.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-11.96%	+3.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-22.77%	+4.10%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-35.12%	+11.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-2.96%	-4.25%	+1.29%
Average Drawdown Average peak-to-trough decline	-4.73%	-32.73%	+28.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	3.22%	-1.25%

Volatility

GSPY vs. QQQ - Volatility Comparison

The current volatility for Gotham Enhanced 500 ETF (GSPY) is 4.51%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that GSPY experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSPY	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	9.17%	-4.66%
Volatility (6M) Calculated over the trailing 6-month period	9.64%	14.57%	-4.93%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	17.96%	-5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	22.69%	-6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	22.42%	-6.08%

GSPY vs. QQQ - Expense Ratio Comparison

GSPY has a 0.50% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

GSPY vs. QQQ - Dividend Comparison

GSPY's dividend yield for the trailing twelve months is around 2.41%, more than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSPY Gotham Enhanced 500 ETF	2.41%	2.61%	0.84%	1.06%	1.25%	0.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.43%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both GSPY and QQQ in my portfolio?

With a correlation of 0.90, GSPY and QQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GSPY or QQQ?

QQQ has higher volatility (9.17%) compared to GSPY (4.51%). In terms of maximum drawdown, GSPY dropped -23.30% vs QQQ's -82.97%.

Which ETF is better, GSPY or QQQ?

On 5-year performance, QQQ leads with 16.01% vs 13.07% for GSPY. On fees, QQQ is cheaper at 0.18% per year. On volatility, GSPY has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSPY or QQQ?

Over the 5-year period, QQQ has performed better with a 16.01% return vs 13.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSPY or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.50% for GSPY.

Which ETF pays a higher dividend yield, GSPY or QQQ?

GSPY has the higher dividend yield at 2.41%, compared with 0.43% for QQQ.

What is the main difference between GSPY and QQQ?

GSPY is categorized as Large Cap Blend Equities, while QQQ is Nasdaq-100. They also come from different issuers: Gotham and Invesco. Their fees differ too: 0.50% for GSPY and 0.18% for QQQ.

Which has better risk-adjusted returns?

GSPY currently has the higher Sharpe Ratio (1.96 vs 1.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.