QEW vs. SPHQ

Last updated Jun 4, 2026

QEW (Invesco QQQ Equal Weight ETF) and SPHQ (Invesco S&P 500 Quality ETF) are both exchange-traded funds - QEW is a Nasdaq-100 fund tracking the Nasdaq-100 Equal Weighted Index, while SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index. Both are passively managed. A 0.74 correlation means they provide meaningful diversification when combined. QEW charges 0.25%/yr vs 0.15%/yr for SPHQ.

Performance

QEW vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Equal Weight ETF (QEW) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QEW

• 1D: -0.11%
• 1M: 10.55%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPHQ

• 1D: 0.28%
• 1M: 7.17%
• YTD: 15.48%
• 6M: 16.06%
• 1Y: 23.22%
• 3Y*: 22.41%
• 5Y*: 14.54%
• 10Y*: 15.01%

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

QEW vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)
QEW Invesco QQQ Equal Weight ETF	21.49%
SPHQ Invesco S&P 500 Quality ETF	14.13%

Correlation

The correlation between QEW and SPHQ is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 19, 2026	0.74

Return for Risk

QEW vs. SPHQ — Risk / Return Rank

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

SPHQ

SPHQ Risk / Return Rank: 54
SPHQ Sharpe Ratio Rank: 53
SPHQ Sortino Ratio Rank: 55
SPHQ Omega Ratio Rank: 49
SPHQ Calmar Ratio Rank: 52
SPHQ Martin Ratio Rank: 61

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.

QEW vs. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Equal Weight ETF (QEW) and Invesco S&P 500 Quality ETF (SPHQ). 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

	QEW	SPHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.85	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	9.75	0.53	+9.22

Drawdowns

QEW vs. SPHQ - Drawdown Comparison

The maximum QEW drawdown since its inception was -4.15%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for QEW and SPHQ.

Drawdown Indicators

	QEW	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.15%	-57.83%	+53.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.60%	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.57%	-10.70%	+10.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.08%	—

Volatility

Volatility by Period

	QEW	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	12.62%	+3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	16.45%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.78%	17.86%	-2.08%

QEW vs. SPHQ - Expense Ratio Comparison

QEW has a 0.25% expense ratio, which is higher than SPHQ's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QEW vs. SPHQ - Dividend Comparison

QEW has not paid dividends to shareholders, while SPHQ's dividend yield for the trailing twelve months is around 1.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QEW Invesco QQQ Equal Weight ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHQ Invesco S&P 500 Quality ETF	1.04%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both QEW and SPHQ in my portfolio?

QEW and SPHQ have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QEW or SPHQ?

On fees, SPHQ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QEW or SPHQ?

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.25% for QEW.

Which ETF pays a higher dividend yield, QEW or SPHQ?

SPHQ has the higher dividend yield at 1.04%, compared with 0.00% for QEW.

What is the main difference between QEW and SPHQ?

QEW is categorized as Nasdaq-100, while SPHQ is S&P 500. QEW tracks Nasdaq-100 Equal Weighted Index, while SPHQ tracks S&P 500 Quality Index. Their fees differ too: 0.25% for QEW and 0.15% for SPHQ.