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QQQE vs. SPY
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QQQE vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and State Street SPDR S&P 500 ETF (SPY).

QQQE and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQQE is a passively managed fund by Direxion that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Mar 21, 2012. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both QQQE and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QQQE vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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QQQE vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		-3.54%14.58%6.98%33.76%-24.47%17.93%37.85%36.43%-5.40%26.53%
SPY
State Street SPDR S&P 500 ETF		-4.37%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Returns By Period

In the year-to-date period, QQQE achieves a -3.54% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, QQQE has underperformed SPY with an annualized return of 13.22%, while SPY has yielded a comparatively higher 13.98% annualized return.

QQQE

1D
2.57%
1M
-5.09%
YTD
-3.54%
6M
-2.70%
1Y
13.72%
3Y*
11.59%
5Y*
6.19%
10Y*
13.22%

SPY

1D
2.91%
1M
-4.94%
YTD
-4.37%
6M
-1.82%
1Y
17.59%
3Y*
18.19%
5Y*
11.69%
10Y*
13.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Direxion NASDAQ-100 Equal Weighted Index Shares

State Street SPDR S&P 500 ETF

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QQQE vs. SPY - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.

QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares
SPY
State Street SPDR S&P 500 ETF

Return for Risk

QQQE vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQQE
QQQE Risk / Return Rank: 4343
Overall Rank
QQQE Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
QQQE Sortino Ratio Rank: 4242
Sortino Ratio Rank
QQQE Omega Ratio Rank: 4242
Omega Ratio Rank
QQQE Calmar Ratio Rank: 4646
Calmar Ratio Rank
QQQE Martin Ratio Rank: 4848
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 6464
Overall Rank
SPY Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6060
Sortino Ratio Rank
SPY Omega Ratio Rank: 6565
Omega Ratio Rank
SPY Calmar Ratio Rank: 6565
Calmar Ratio Rank
SPY Martin Ratio Rank: 7575
Martin Ratio Rank
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.

QQQE vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and State Street SPDR S&P 500 ETF (SPY). 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.

QQQESPYDifference

Sharpe ratio

Return per unit of total volatility

0.67

0.93

-0.25

Sortino ratio

Return per unit of downside risk

1.11

1.45

-0.34

Omega ratio

Gain probability vs. loss probability

1.16

1.22

-0.07

Calmar ratio

Return relative to maximum drawdown

1.08

1.53

-0.45

Martin ratio

Return relative to average drawdown

4.38

7.30

-2.92

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQE vs. SPY - Sharpe Ratio Comparison

The current QQQE Sharpe Ratio is 0.67, which is comparable to the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of QQQE and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QQQESPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.67

0.93

-0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.31

0.69

-0.38

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.78

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.56

+0.12

Correlation

The correlation between QQQE and SPY is 0.88, 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

QQQE vs. SPY - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.64%, less than SPY's 1.14% yield.

TTM20252024202320222021202020192018201720162015
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		0.64%0.52%0.86%0.79%0.98%3.83%0.54%0.74%0.80%0.65%1.17%0.57%
SPY
State Street SPDR S&P 500 ETF		1.14%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Drawdowns

QQQE vs. SPY - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for QQQE and SPY.

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Drawdown Indicators

QQQESPYDifference

Max Drawdown

Largest peak-to-trough decline

-32.14%

-55.19%

+23.05%

Max Drawdown (1Y)

Largest decline over 1 year

-12.74%

-12.05%

-0.69%

Max Drawdown (5Y)

Largest decline over 5 years

-32.14%

-24.50%

-7.64%

Max Drawdown (10Y)

Largest decline over 10 years

-32.14%

-33.72%

+1.58%

Current Drawdown

Current decline from peak

-7.08%

-6.24%

-0.84%

Average Drawdown

Average peak-to-trough decline

-5.22%

-9.09%

+3.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

2.52%

+0.61%

Volatility

QQQE vs. SPY - Volatility Comparison

Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a higher volatility of 5.68% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that QQQE's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQQESPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.68%

5.31%

+0.37%

Volatility (6M)

Calculated over the trailing 6-month period

11.03%

9.47%

+1.56%

Volatility (1Y)

Calculated over the trailing 1-year period

20.46%

19.05%

+1.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.33%

17.06%

+3.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.71%

17.92%

+2.79%