QQQM vs. SPYI

Last updated Jun 6, 2026

QQQM (Invesco NASDAQ 100 ETF) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SPYI is a Derivative Income fund actively managed by Neos. QQQM is passively managed, while SPYI is actively managed. Over the past 3 years, QQQM returned 26.56%/yr vs 15.61%/yr for SPYI. Their correlation of 0.90 suggests significant overlap in exposure. QQQM charges 0.15%/yr vs 0.68%/yr for SPYI.

Performance

QQQM vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQM achieves a 14.96% return, which is significantly higher than SPYI's 5.65% return.

QQQM

• 1D: -4.78%
• 1M: 1.38%
• YTD: 14.96%
• 6M: 13.04%
• 1Y: 35.13%
• 3Y*: 26.56%
• 5Y*: 16.79%
• 10Y*: —

SPYI

• 1D: -2.24%
• 1M: 0.20%
• YTD: 5.65%
• 6M: 5.99%
• 1Y: 20.87%
• 3Y*: 15.61%
• 5Y*: —
• 10Y*: —

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

QQQM vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
QQQM Invesco NASDAQ 100 ETF	14.96%	20.85%	25.68%	55.01%	-11.17%
SPYI NEOS S&P 500 High Income ETF	5.65%	16.67%	19.03%	18.09%	-2.44%

Correlation

The correlation between QQQM and SPYI is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.90

The correlation between QQQM and SPYI has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

QQQM vs. SPYI - Sectors Allocation Comparison

Sectors	QQQM	SPYI
Technology	53.8%	35.5%
Communication Services	15.8%	11.2%
Consumer Cyclical	12.3%	10.1%
Consumer Defensive	7.7%	4.9%
Healthcare	4.2%	8.5%
Industrials	2.8%	8.4%
Utilities	1.4%	2.3%
Basic Materials	1.1%	1.8%
Energy	0.6%	3.5%
Financial Services	0.2%	11.8%
Real Estate	0.1%	2.0%

Return for Risk

QQQM vs. SPYI — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 62
QQQM Sharpe Ratio Rank: 65
QQQM Sortino Ratio Rank: 58
QQQM Omega Ratio Rank: 63
QQQM Calmar Ratio Rank: 61
QQQM Martin Ratio Rank: 63

SPYI

SPYI Risk / Return Rank: 66
SPYI Sharpe Ratio Rank: 65
SPYI Sortino Ratio Rank: 62
SPYI Omega Ratio Rank: 72
SPYI Calmar Ratio Rank: 56
SPYI Martin Ratio Rank: 75

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.

QQQM vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and NEOS S&P 500 High Income ETF (SPYI). 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.

	QQQM	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.12	0.00
Sortino ratio: Return per unit of downside risk	2.73	2.86	-0.13
Omega ratio: Gain probability vs. loss probability	1.37	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.95	2.72	+0.23
Martin ratio: Return relative to average drawdown	11.24	14.08	-2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQM vs. SPYI - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.12, which is comparable to the SPYI Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of QQQM and SPYI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQM	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.12	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	1.16	-0.37

Drawdowns

QQQM vs. SPYI - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for QQQM and SPYI.

Drawdown Indicators

	QQQM	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-16.47%	-18.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-7.72%	-4.24%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-16.47%	-6.23%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	—	—
Current Drawdown Current decline from peak	-5.49%	-2.40%	-3.09%
Average Drawdown Average peak-to-trough decline	-8.24%	-1.80%	-6.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	1.49%	+1.64%

Volatility

QQQM vs. SPYI - Volatility Comparison

Invesco NASDAQ 100 ETF (QQQM) has a higher volatility of 6.68% compared to NEOS S&P 500 High Income ETF (SPYI) at 2.86%. This indicates that QQQM's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	2.86%	+3.82%
Volatility (6M) Calculated over the trailing 6-month period	13.07%	7.77%	+5.30%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	9.90%	+6.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	12.96%	+9.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.20%	12.96%	+9.24%

QQQM vs. SPYI - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than SPYI's 0.68% expense ratio.

Dividends

QQQM vs. SPYI - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.44%, less than SPYI's 11.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	0.44%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%
SPYI NEOS S&P 500 High Income ETF	11.87%	11.70%	12.04%	12.01%	4.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQQM and SPYI in my portfolio?

With a correlation of 0.93, QQQM and SPYI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQM or SPYI?

QQQM has higher volatility (6.68%) compared to SPYI (2.86%). In terms of maximum drawdown, QQQM dropped -35.04% vs SPYI's -16.47%.

Which ETF is better, QQQM or SPYI?

On 3-year performance, QQQM leads with 26.56% vs 15.61% for SPYI. On fees, QQQM is cheaper at 0.15% per year. On volatility, SPYI has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or SPYI?

Over the 3-year period, QQQM has performed better with a 26.56% return vs 15.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or SPYI?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.68% for SPYI.

Which ETF pays a higher dividend yield, QQQM or SPYI?

SPYI has the higher dividend yield at 11.87%, compared with 0.44% for QQQM.

What is the main difference between QQQM and SPYI?

QQQM is categorized as Nasdaq-100, while SPYI is Derivative Income. They also come from different issuers: Invesco and Neos. Their fees differ too: 0.15% for QQQM and 0.68% for SPYI.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.12 vs 2.12), 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.