QBIG vs. SPUC

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Top QQQ ETF (QBIG) and Simplify US Equity PLUS Upside Convexity ETF (SPUC).

QBIG and SPUC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QBIG is an actively managed fund by Invesco. It was launched on Dec 4, 2024. SPUC is an actively managed fund by Simplify. It was launched on Sep 3, 2020.

Performance

QBIG vs. SPUC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Top QQQ ETF (QBIG) and Simplify US Equity PLUS Upside Convexity ETF (SPUC). The values are adjusted to include any dividend payments, if applicable.

QBIG vs. SPUC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBIG Invesco Top QQQ ETF	-10.30%	21.46%	3.04%
SPUC Simplify US Equity PLUS Upside Convexity ETF	-3.92%	22.64%	-9.77%

Returns By Period

In the year-to-date period, QBIG achieves a -10.30% return, which is significantly lower than SPUC's -3.92% return.

QBIG

• 1D: 1.27%
• 1M: -3.81%
• YTD: -10.30%
• 6M: -8.80%
• 1Y: 28.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPUC

• 1D: 1.11%
• 1M: -4.13%
• YTD: -3.92%
• 6M: -4.78%
• 1Y: 25.70%
• 3Y*: 20.70%
• 5Y*: 12.13%
• 10Y*: —

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

QBIG vs. SPUC - Expense Ratio Comparison

Both QBIG and SPUC have an expense ratio of 0.29%.

QBIG

Invesco Top QQQ ETF

SPUC

Simplify US Equity PLUS Upside Convexity ETF

Return for Risk

QBIG vs. SPUC — Risk / Return Rank

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

QBIG

QBIG Risk / Return Rank: 58
QBIG Sharpe Ratio Rank: 58
QBIG Sortino Ratio Rank: 65
QBIG Omega Ratio Rank: 60
QBIG Calmar Ratio Rank: 58
QBIG Martin Ratio Rank: 50

SPUC

SPUC Risk / Return Rank: 56
SPUC Sharpe Ratio Rank: 52
SPUC Sortino Ratio Rank: 56
SPUC Omega Ratio Rank: 54
SPUC Calmar Ratio Rank: 60
SPUC Martin Ratio Rank: 58

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.

QBIG vs. SPUC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Top QQQ ETF (QBIG) and Simplify US Equity PLUS Upside Convexity ETF (SPUC). 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.

	QBIG	SPUC	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.97	+0.08
Sortino ratio Return per unit of downside risk	1.69	1.51	+0.18
Omega ratio Gain probability vs. loss probability	1.23	1.21	+0.02
Calmar ratio Return relative to maximum drawdown	1.56	1.63	-0.07
Martin ratio Return relative to average drawdown	5.02	6.14	-1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBIG vs. SPUC - Sharpe Ratio Comparison

The current QBIG Sharpe Ratio is 1.06, which is comparable to the SPUC Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of QBIG and SPUC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QBIG	SPUC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.97	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.65	-0.32

Correlation

The correlation between QBIG and SPUC is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QBIG vs. SPUC - Dividend Comparison

QBIG has not paid dividends to shareholders, while SPUC's dividend yield for the trailing twelve months is around 8.08%.

	TTM	2025	2024	2023	2022	2021	2020
QBIG Invesco Top QQQ ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUC Simplify US Equity PLUS Upside Convexity ETF	8.08%	7.70%	0.94%	1.33%	1.53%	2.00%	0.75%

Drawdowns

QBIG vs. SPUC - Drawdown Comparison

The maximum QBIG drawdown since its inception was -30.33%, roughly equal to the maximum SPUC drawdown of -29.20%. Use the drawdown chart below to compare losses from any high point for QBIG and SPUC.

Drawdown Indicators

	QBIG	SPUC	Difference
Max Drawdown Largest peak-to-trough decline	-30.33%	-29.20%	-1.13%
Max Drawdown (1Y) Largest decline over 1 year	-19.70%	-16.09%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.20%	—
Current Drawdown Current decline from peak	-15.20%	-7.89%	-7.31%
Average Drawdown Average peak-to-trough decline	-7.41%	-8.70%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.13%	4.26%	+1.87%

Volatility

QBIG vs. SPUC - Volatility Comparison

Invesco Top QQQ ETF (QBIG) has a higher volatility of 7.80% compared to Simplify US Equity PLUS Upside Convexity ETF (SPUC) at 5.63%. This indicates that QBIG's price experiences larger fluctuations and is considered to be riskier than SPUC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBIG	SPUC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.80%	5.63%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	15.33%	13.47%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	27.57%	26.54%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.18%	22.05%	+6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.18%	21.71%	+6.47%