QQQ vs. SLYV

Last updated Jul 26, 2026

QQQ (Invesco QQQ ETF) and SLYV (SPDR S&P 600 Small Cap Value ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index. Both are passively managed. Over the past 10 years, QQQ returned 20.50%/yr vs 10.08%/yr for SLYV. Their 0.64 correlation means they have sometimes moved together and sometimes differently. QQQ charges 0.18%/yr vs 0.15%/yr for SLYV.

Performance

QQQ vs. SLYV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ ETF (QQQ) and SPDR S&P 600 Small Cap Value ETF (SLYV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQ achieves a 11.64% return, which is significantly lower than SLYV's 20.28% return. Over the past 10 years, QQQ has outperformed SLYV with an annualized return of 20.50%, while SLYV has yielded a comparatively lower 10.08% annualized return.

QQQ

• 1D: -1.12%
• 1M: -4.49%
• 6M: 10.14%
• YTD: 11.64%
• 1Y: 21.39%
• 3Y*: 22.49%
• 5Y*: 13.87%
• 10Y*: 20.50%
• ALL TIME*: 10.62%

SLYV

• 1D: 0.18%
• 1M: 0.18%
• 6M: 12.38%
• YTD: 20.28%
• 1Y: 32.51%
• 3Y*: 12.94%
• 5Y*: 8.27%
• 10Y*: 10.08%
• ALL TIME*: 10.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QQQ Invesco QQQ ETF	$25.72B	$27.46B	$30.43B
SLYV SPDR S&P 600 Small Cap Value ETF	$13.68M	$20.85M	$23.13M

QQQ vs. SLYV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	11.64%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%
SLYV SPDR S&P 600 Small Cap Value ETF	20.28%	6.54%	7.28%	14.82%	-11.08%	30.57%	2.68%	24.26%	-12.77%	11.74%

Correlation

The correlation between QQQ and SLYV is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (10Y) Provides a long-term view across more market conditions.	0.55
Correlation (All Time) Calculated using the full available price history since Oct 2, 2000	0.64

The correlation between QQQ and SLYV shifts across timeframes, from 0.53 (3 years) to 0.64 (all time), reflecting how their relationship changes across market environments.

QQQ vs. SLYV - Sectors Allocation Comparison

Sectors	QQQ	SLYV
Technology	60.9%	11.8%
Communication Services	13.1%	3.5%
Consumer Cyclical	10.7%	14.9%
Consumer Defensive	6.3%	5.1%
Healthcare	3.6%	6.4%
Industrials	2.7%	13.5%
Utilities	1.1%	2.1%
Basic Materials	1.0%	5.6%
Energy	0.5%	7.7%
Financial Services	0.2%	21.4%
Real Estate	0.1%	7.9%

Return for Risk

QQQ vs. SLYV — Risk / Return Rank

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

QQQ

QQQ Risk / Return Rank: 49
QQQ Sharpe Ratio Rank: 47
QQQ Sortino Ratio Rank: 45
QQQ Omega Ratio Rank: 45
QQQ Calmar Ratio Rank: 52
QQQ Martin Ratio Rank: 53

SLYV

SLYV Risk / Return Rank: 83
SLYV Sharpe Ratio Rank: 82
SLYV Sortino Ratio Rank: 85
SLYV Omega Ratio Rank: 78
SLYV Calmar Ratio Rank: 87
SLYV Martin Ratio Rank: 85

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.

QQQ vs. SLYV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and SPDR S&P 600 Small Cap Value ETF (SLYV). 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.

	QQQ	SLYV	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.89	-0.74
Sortino ratio: Return per unit of downside risk	1.62	2.78	-1.15
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio: Return relative to maximum drawdown	1.82	3.57	-1.75
Martin ratio: Return relative to average drawdown	6.19	12.10	-5.92

QQQ vs. SLYV - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 1.15, which is lower than the SLYV Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of QQQ and SLYV, 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

QQQ vs. SLYV - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than SLYV's maximum drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for QQQ and SLYV.

Drawdown Indicators

	QQQ	SLYV	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-61.15%	-21.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-9.36%	-2.60%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-28.68%	+5.91%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-28.68%	-6.44%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-47.73%	+12.61%
Current Drawdown Current decline from peak	-8.20%	-1.61%	-6.59%
Average Drawdown Average peak-to-trough decline	-32.64%	-8.90%	-23.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	2.76%	+0.75%

Volatility

QQQ vs. SLYV - Volatility Comparison

Invesco QQQ ETF (QQQ) has a higher volatility of 6.74% compared to SPDR S&P 600 Small Cap Value ETF (SLYV) at 3.61%. This indicates that QQQ's price experiences larger fluctuations and is considered to be riskier than SLYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	SLYV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	3.61%	+3.13%
Volatility (6M) Calculated over the trailing 6-month period	15.61%	11.21%	+4.40%
Volatility (1Y) Calculated over the trailing 1-year period	18.96%	17.81%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.83%	21.70%	+1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.46%	23.89%	-1.43%

QQQ vs. SLYV - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than SLYV'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

QQQ vs. SLYV - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.44%, less than SLYV's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.44%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
SLYV SPDR S&P 600 Small Cap Value ETF	1.82%	2.02%	2.30%	2.11%	1.47%	1.94%	1.40%	1.67%	2.14%	5.53%	2.18%	6.55%

Frequently Asked Questions

Can I hold both QQQ and SLYV in my portfolio?

QQQ and SLYV have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQ or SLYV?

QQQ has higher volatility (6.74%) compared to SLYV (3.61%). In terms of maximum drawdown, QQQ dropped -82.97% vs SLYV's -61.15%.

Which ETF is better, QQQ or SLYV?

On 10-year performance, QQQ leads with 20.50% vs 10.08% for SLYV. On fees, SLYV is cheaper at 0.15% per year. On volatility, SLYV has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or SLYV?

Over the 10-year period, QQQ has performed better with a 20.50% return vs 10.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or SLYV?

SLYV is cheaper with a 0.15% expense ratio, compared with 0.18% for QQQ.

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

SLYV has the higher dividend yield at 1.82%, compared with 0.44% for QQQ.

What is the main difference between QQQ and SLYV?

QQQ is categorized as Nasdaq-100, while SLYV is Small Cap Value Equities. QQQ tracks NASDAQ-100 Index, while SLYV tracks S&P SmallCap 600 Value Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.18% for QQQ and 0.15% for SLYV.

Which has better risk-adjusted returns?

SLYV currently has the higher Sharpe Ratio (1.89 vs 1.15), 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.