SPAB vs. QQQ
SPAB (SPDR Portfolio Aggregate Bond ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SPAB returned 1.54%/yr vs 21.94%/yr for QQQ. At a correlation of -0.08, they often move in opposite directions. SPAB charges 0.03%/yr vs 0.18%/yr for QQQ.
Performance
SPAB vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SPAB achieves a 0.29% return, which is significantly lower than QQQ's 21.30% return. Over the past 10 years, SPAB has underperformed QQQ with an annualized return of 1.54%, while QQQ has yielded a comparatively higher 21.94% annualized return.
SPAB
- 1D
- -0.12%
- 1M
- 0.31%
- YTD
- 0.29%
- 6M
- 0.14%
- 1Y
- 5.24%
- 3Y*
- 3.93%
- 5Y*
- 0.07%
- 10Y*
- 1.54%
QQQ
- 1D
- -0.26%
- 1M
- 10.60%
- YTD
- 21.30%
- 6M
- 19.66%
- 1Y
- 41.82%
- 3Y*
- 28.78%
- 5Y*
- 17.97%
- 10Y*
- 21.94%
SPAB vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 0.29% | 7.25% | 1.25% | 5.56% | -13.04% | -1.77% | 7.39% | 8.67% | -0.18% | 3.71% |
QQQ Invesco QQQ ETF | 21.30% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between SPAB and QQQ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 31, 2007 | -0.08 |
The correlation between SPAB and QQQ shifts across timeframes, from -0.08 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPAB vs. QQQ — Risk / Return Rank
SPAB
QQQ
SPAB vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) and Invesco QQQ ETF (QQQ). 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.
| SPAB | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.45 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 3.51 | -1.59 |
| Martin ratioReturn relative to average drawdown | 5.72 | 13.49 | -7.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPAB | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 2.64 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.81 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.99 | -0.71 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.41 | +0.09 |
Drawdowns
SPAB vs. QQQ - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SPAB and QQQ.
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Drawdown Indicators
| SPAB | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.56% | -82.97% | +64.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -11.96% | +9.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.08% | -22.77% | +16.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.96% | -35.12% | +17.16% |
Max Drawdown (10Y)Largest decline over 10 years | -18.56% | -35.12% | +16.56% |
Current DrawdownCurrent decline from peak | -2.27% | -0.26% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -32.79% | +29.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 3.11% | -2.19% |
Volatility
SPAB vs. QQQ - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.15%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPAB | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 4.49% | -3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 12.10% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 15.94% | -12.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 22.38% | -16.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 22.29% | -16.75% |
SPAB vs. QQQ - Expense Ratio Comparison
SPAB has a 0.03% expense ratio, which is lower than QQQ's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPAB vs. QQQ - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 4.05%, more than QQQ's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.38% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
SPAB SPDR Portfolio Aggregate Bond ETF | 4.05% | 3.97% | 3.86% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.59% |
Frequently Asked Questions
SPAB and QQQ have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (4.49%) compared to SPAB (1.15%). In terms of maximum drawdown, SPAB dropped -18.56% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 21.94% vs 1.54% for SPAB. On fees, SPAB is cheaper at 0.03% per year. On volatility, SPAB has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQ has performed better with a 21.94% return vs 1.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPAB is cheaper with a 0.03% expense ratio, compared with 0.18% for QQQ.
SPAB has the higher dividend yield at 4.05%, compared with 0.38% for QQQ.
SPAB is categorized as Total Bond Market, while QQQ is Nasdaq-100. SPAB tracks Bloomberg U.S. Aggregate Bond Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.03% for SPAB and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (2.64 vs 1.40), 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.
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