QQQ vs. SPMO

Last updated Aug 5, 2026

QQQ (Invesco QQQ ETF) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, QQQ returned 20.86%/yr vs 20.17%/yr for SPMO. Their 0.77 correlation means they have sometimes moved together and sometimes differently. QQQ charges 0.18%/yr vs 0.13%/yr for SPMO.

Performance

QQQ vs. SPMO - Performance Comparison

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

Returns By Period

In the year-to-date period, QQQ achieves a 18.11% return, which is significantly lower than SPMO's 27.25% return. Both investments have delivered pretty close results over the past 10 years, with QQQ having a 20.86% annualized return and SPMO not far behind at 20.17%.

QQQ

• 1D: 3.40%
• 1M: 1.58%
• 6M: 17.69%
• YTD: 18.11%
• 1Y: 28.94%
• 3Y*: 25.56%
• 5Y*: 15.07%
• 10Y*: 20.86%
• ALL TIME*: 10.84%

SPMO

• 1D: 4.00%
• 1M: 0.23%
• 6M: 27.03%
• YTD: 27.25%
• 1Y: 32.27%
• 3Y*: 39.98%
• 5Y*: 20.99%
• 10Y*: 20.17%
• ALL TIME*: 19.45%

*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	$33.34B	$28.86B	$31.95B
SPMO Invesco S&P 500 Momentum ETF	$336.43M	$343.89M	$352.54M

QQQ vs. SPMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQQ Invesco QQQ ETF	18.11%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%
SPMO Invesco S&P 500 Momentum ETF	27.25%	26.58%	45.82%	17.56%	-10.45%	22.64%	28.25%	25.93%	-0.92%	27.76%

Correlation

The correlation between QQQ and SPMO is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.80
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.77

The correlation between QQQ and SPMO shifts across timeframes, from 0.77 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.

QQQ vs. SPMO - Sectors Allocation Comparison

Sectors	QQQ	SPMO
Technology	60.9%	53.7%
Communication Services	13.1%	7.4%
Consumer Cyclical	10.7%	1.2%
Consumer Defensive	6.3%	4.2%
Healthcare	3.6%	6.9%
Industrials	2.7%	11.2%
Utilities	1.1%	2.7%
Basic Materials	1.0%	1.9%
Energy	0.5%	3.3%
Financial Services	0.2%	6.0%
Real Estate	0.1%	1.1%

Return for Risk

QQQ vs. SPMO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QQQ

QQQ Risk / Return Rank: 55
QQQ Sharpe Ratio Rank: 54
QQQ Sortino Ratio Rank: 52
QQQ Omega Ratio Rank: 51
QQQ Calmar Ratio Rank: 62
QQQ Martin Ratio Rank: 58

SPMO

SPMO Risk / Return Rank: 50
SPMO Sharpe Ratio Rank: 48
SPMO Sortino Ratio Rank: 47
SPMO Omega Ratio Rank: 49
SPMO Calmar Ratio Rank: 51
SPMO Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QQQ vs. SPMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ ETF (QQQ) and Invesco S&P 500 Momentum ETF (SPMO). 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	SPMO	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.35	+0.14
Sortino ratio: Return per unit of downside risk	2.07	1.91	+0.16
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.43	2.07	+0.36
Martin ratio: Return relative to average drawdown	7.72	7.44	+0.28

QQQ vs. SPMO - Sharpe Ratio Comparison

The current QQQ Sharpe Ratio is 1.49, which is comparable to the SPMO Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of QQQ and SPMO, 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. SPMO - Drawdown Comparison

The maximum QQQ drawdown since its inception was -82.97%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for QQQ and SPMO.

Drawdown Indicators

	QQQ	SPMO	Difference
Max Drawdown Largest peak-to-trough decline	-82.97%	-30.95%	-52.02%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-15.64%	+3.68%
Max Drawdown (3Y) Largest decline over 3 years	-22.77%	-20.13%	-2.64%
Max Drawdown (5Y) Largest decline over 5 years	-35.12%	-22.74%	-12.38%
Max Drawdown (10Y) Largest decline over 10 years	-35.12%	-30.95%	-4.17%
Current Drawdown Current decline from peak	-2.88%	-6.49%	+3.61%
Average Drawdown Average peak-to-trough decline	-32.61%	-4.62%	-27.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	4.35%	-0.59%

Volatility

QQQ vs. SPMO - Volatility Comparison

The current volatility for Invesco QQQ ETF (QQQ) is 7.63%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 10.95%. This indicates that QQQ experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQ	SPMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	10.95%	-3.32%
Volatility (6M) Calculated over the trailing 6-month period	16.43%	21.85%	-5.42%
Volatility (1Y) Calculated over the trailing 1-year period	19.61%	24.13%	-4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.97%	20.69%	+2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	20.97%	+1.57%

QQQ vs. SPMO - Expense Ratio Comparison

QQQ has a 0.18% expense ratio, which is higher than SPMO's 0.13% 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. SPMO - Dividend Comparison

QQQ's dividend yield for the trailing twelve months is around 0.42%, less than SPMO's 0.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.42%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
SPMO Invesco S&P 500 Momentum ETF	0.69%	0.73%	0.48%	1.63%	1.66%	0.52%	1.27%	1.39%	1.05%	0.77%	1.94%	0.36%

Frequently Asked Questions

Can I hold both QQQ and SPMO in my portfolio?

QQQ and SPMO have a correlation of 0.88, 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 SPMO?

SPMO has higher volatility (10.95%) compared to QQQ (7.63%). In terms of maximum drawdown, QQQ dropped -82.97% vs SPMO's -30.95%.

Which ETF is better, QQQ or SPMO?

On 10-year performance, QQQ leads with 20.86% vs 20.17% for SPMO. On fees, SPMO is cheaper at 0.13% per year. On volatility, QQQ has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQ or SPMO?

Over the 10-year period, QQQ has performed better with a 20.86% return vs 20.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQ or SPMO?

SPMO is cheaper with a 0.13% expense ratio, compared with 0.18% for QQQ.

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

SPMO has the higher dividend yield at 0.69%, compared with 0.42% for QQQ.

What is the main difference between QQQ and SPMO?

QQQ is categorized as Nasdaq-100, while SPMO is Momentum. QQQ tracks NASDAQ-100 Index, while SPMO tracks S&P 500 Momentum Index. Their fees differ too: 0.18% for QQQ and 0.13% for SPMO.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.49 vs 1.35), 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.