SMAP vs. QQQS

Last updated Jul 1, 2026

SMAP (Amplify Small-Mid Cap Equity ETF) and QQQS (Invesco NASDAQ Future Gen 200 ETF) are both Small Cap Blend Equities funds. Over the past year, SMAP returned 9.43% vs 71.92% for QQQS. A 0.74 correlation means they provide meaningful diversification when combined. SMAP charges 0.60%/yr vs 0.20%/yr for QQQS.

Performance

SMAP vs. QQQS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Small-Mid Cap Equity ETF (SMAP) and Invesco NASDAQ Future Gen 200 ETF (QQQS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMAP achieves a 7.23% return, which is significantly lower than QQQS's 30.85% return.

SMAP

• 1D: 0.00%
• 1M: 0.00%
• YTD: 7.23%
• 6M: 5.99%
• 1Y: 9.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQS

• 1D: 0.71%
• 1M: 1.23%
• YTD: 30.85%
• 6M: 30.44%
• 1Y: 71.92%
• 3Y*: 17.78%
• 5Y*: —
• 10Y*: —

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

SMAP vs. QQQS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMAP Amplify Small-Mid Cap Equity ETF	7.23%	3.63%	-2.93%
QQQS Invesco NASDAQ Future Gen 200 ETF	30.85%	23.03%	7.30%

Correlation

The correlation between SMAP and QQQS is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 1, 2024	0.74

The correlation between SMAP and QQQS has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.

Return for Risk

SMAP vs. QQQS — Risk / Return Rank

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

SMAP

SMAP Risk / Return Rank: 26
SMAP Sharpe Ratio Rank: 24
SMAP Sortino Ratio Rank: 24
SMAP Omega Ratio Rank: 22
SMAP Calmar Ratio Rank: 27
SMAP Martin Ratio Rank: 32

QQQS

QQQS Risk / Return Rank: 87
QQQS Sharpe Ratio Rank: 91
QQQS Sortino Ratio Rank: 86
QQQS Omega Ratio Rank: 79
QQQS Calmar Ratio Rank: 92
QQQS Martin Ratio Rank: 89

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.

SMAP vs. QQQS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Small-Mid Cap Equity ETF (SMAP) and Invesco NASDAQ Future Gen 200 ETF (QQQS). 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.

	SMAP	QQQS	Difference
Sharpe ratio: Return per unit of total volatility	0.78	2.62	-1.84
Sortino ratio: Return per unit of downside risk	1.24	3.29	-2.04
Omega ratio: Gain probability vs. loss probability	1.14	1.39	-0.25
Calmar ratio: Return relative to maximum drawdown	1.22	5.31	-4.09
Martin ratio: Return relative to average drawdown	4.18	16.69	-12.50

SMAP vs. QQQS - Sharpe Ratio Comparison

The current SMAP Sharpe Ratio is 0.78, which is lower than the QQQS Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of SMAP and QQQS, 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

SMAP vs. QQQS - Drawdown Comparison

The maximum SMAP drawdown since its inception was -24.12%, smaller than the maximum QQQS drawdown of -38.06%. Use the drawdown chart below to compare losses from any high point for SMAP and QQQS.

Drawdown Indicators

	SMAP	QQQS	Difference
Max Drawdown Largest peak-to-trough decline	-24.12%	-38.06%	+13.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	-13.63%	+3.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.32%	—
Current Drawdown Current decline from peak	-0.38%	0.00%	-0.38%
Average Drawdown Average peak-to-trough decline	-7.10%	-13.09%	+5.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	4.32%	-1.41%

Volatility

SMAP vs. QQQS - Volatility Comparison

The current volatility for Amplify Small-Mid Cap Equity ETF (SMAP) is 3.45%, while Invesco NASDAQ Future Gen 200 ETF (QQQS) has a volatility of 9.78%. This indicates that SMAP experiences smaller price fluctuations and is considered to be less risky than QQQS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMAP	QQQS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	9.78%	-6.33%
Volatility (6M) Calculated over the trailing 6-month period	11.45%	20.06%	-8.61%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	27.56%	-11.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	28.56%	-8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	28.56%	-8.88%

SMAP vs. QQQS - Expense Ratio Comparison

SMAP has a 0.60% expense ratio, which is higher than QQQS's 0.20% expense ratio.

Dividends

SMAP vs. QQQS - Dividend Comparison

SMAP's dividend yield for the trailing twelve months is around 0.32%, less than QQQS's 2.52% yield.

Position	TTM	2025	2024	2023	2022
QQQS Invesco NASDAQ Future Gen 200 ETF	2.52%	3.48%	0.80%	0.68%	0.04%
SMAP Amplify Small-Mid Cap Equity ETF	0.32%	0.48%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMAP and QQQS in my portfolio?

SMAP and QQQS have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMAP or QQQS?

QQQS has higher volatility (9.78%) compared to SMAP (3.45%). In terms of maximum drawdown, SMAP dropped -24.12% vs QQQS's -38.06%.

Which ETF is better, SMAP or QQQS?

On 1-year performance, QQQS leads with 71.92% vs 9.43% for SMAP. On fees, QQQS is cheaper at 0.20% per year. On volatility, SMAP has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMAP or QQQS?

Over the 1-year period, QQQS has performed better with a 71.92% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMAP or QQQS?

QQQS is cheaper with a 0.20% expense ratio, compared with 0.60% for SMAP.

Which ETF pays a higher dividend yield, SMAP or QQQS?

QQQS has the higher dividend yield at 2.52%, compared with 0.32% for SMAP.

What is the main difference between SMAP and QQQS?

They also come from different issuers: Amplify and Invesco. Their fees differ too: 0.60% for SMAP and 0.20% for QQQS.

Which has better risk-adjusted returns?

QQQS currently has the higher Sharpe Ratio (2.62 vs 0.78), 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.