SPHQ vs. QQQ

Last updated Jun 25, 2026

SPHQ (Invesco S&P 500 Quality ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SPHQ is a S&P 500 fund tracking the S&P 500 Quality Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SPHQ returned 15.47%/yr vs 22.01%/yr for QQQ. Their correlation of 0.82 suggests significant overlap in exposure. SPHQ charges 0.15%/yr vs 0.18%/yr for QQQ.

Performance

SPHQ vs. QQQ - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SPHQ having a 16.64% return and QQQ slightly lower at 15.95%. Over the past 10 years, SPHQ has underperformed QQQ with an annualized return of 15.47%, while QQQ has yielded a comparatively higher 22.01% annualized return.

SPHQ

• 1D: 0.09%
• 1M: 3.04%
• YTD: 16.64%
• 6M: 14.67%
• 1Y: 24.86%
• 3Y*: 22.38%
• 5Y*: 14.00%
• 10Y*: 15.47%

QQQ

• 1D: -0.42%
• 1M: -0.86%
• YTD: 15.95%
• 6M: 14.16%
• 1Y: 32.28%
• 3Y*: 25.87%
• 5Y*: 15.94%
• 10Y*: 22.01%

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

SPHQ vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHQ Invesco S&P 500 Quality ETF	16.64%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%
QQQ Invesco QQQ ETF	15.95%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between SPHQ and QQQ is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 6, 2005	0.82

The correlation between SPHQ and QQQ shifts across timeframes, from 0.71 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

SPHQ vs. QQQ - Sectors Allocation Comparison

Sectors	SPHQ	QQQ
Technology	32.0%	58.7%
Industrials	22.7%	2.6%
Consumer Defensive	14.4%	6.4%
Financial Services	12.4%	0.2%
Healthcare	8.0%	3.7%
Consumer Cyclical	4.4%	11.4%
Communication Services	2.5%	14.3%
Basic Materials	2.1%	1.0%
Utilities	0.9%	1.2%
Energy	0.6%	0.5%
Real Estate	-	0.1%

Return for Risk

SPHQ vs. QQQ — Risk / Return Rank

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

SPHQ

SPHQ Risk / Return Rank: 64
SPHQ Sharpe Ratio Rank: 63
SPHQ Sortino Ratio Rank: 64
SPHQ Omega Ratio Rank: 59
SPHQ Calmar Ratio Rank: 63
SPHQ Martin Ratio Rank: 72

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 60
QQQ Sortino Ratio Rank: 56
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 61

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.

SPHQ vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Quality ETF (SPHQ) 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.

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.

	SPHQ	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.81	+0.05
Sortino ratio: Return per unit of downside risk	2.65	2.41	+0.24
Omega ratio: Gain probability vs. loss probability	1.33	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.81	2.71	+0.10
Martin ratio: Return relative to average drawdown	11.97	10.01	+1.96

SPHQ vs. QQQ - Sharpe Ratio Comparison

The current SPHQ Sharpe Ratio is 1.87, which is comparable to the QQQ Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of SPHQ and QQQ, 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

SPHQ vs. QQQ - Drawdown Comparison

The maximum SPHQ drawdown since its inception was -57.83%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SPHQ and QQQ.

Drawdown Indicators

	SPHQ	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-57.83%	-82.97%	+25.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-11.96%	+3.06%
Max Drawdown (3Y) Largest decline over 3 years	-16.57%	-22.77%	+6.20%
Max Drawdown (5Y) Largest decline over 5 years	-25.04%	-35.12%	+10.08%
Max Drawdown (10Y) Largest decline over 10 years	-31.60%	-35.12%	+3.52%
Current Drawdown Current decline from peak	-2.84%	-4.66%	+1.82%
Average Drawdown Average peak-to-trough decline	-10.67%	-32.72%	+22.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	3.23%	-1.15%

Volatility

SPHQ vs. QQQ - Volatility Comparison

The current volatility for Invesco S&P 500 Quality ETF (SPHQ) is 5.80%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that SPHQ 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.

Volatility by Period

	SPHQ	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	9.17%	-3.37%
Volatility (6M) Calculated over the trailing 6-month period	11.30%	14.54%	-3.24%
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	17.95%	-4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.59%	22.69%	-6.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	22.41%	-4.50%

SPHQ vs. QQQ - Expense Ratio Comparison

SPHQ has a 0.15% 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

SPHQ vs. QQQ - Dividend Comparison

SPHQ's dividend yield for the trailing twelve months is around 1.07%, more than QQQ's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.43%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
SPHQ Invesco S&P 500 Quality ETF	1.07%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Frequently Asked Questions

Can I hold both SPHQ and QQQ in my portfolio?

SPHQ and QQQ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHQ or QQQ?

QQQ has higher volatility (9.17%) compared to SPHQ (5.80%). In terms of maximum drawdown, SPHQ dropped -57.83% vs QQQ's -82.97%.

Which ETF is better, SPHQ or QQQ?

On 10-year performance, QQQ leads with 22.01% vs 15.47% for SPHQ. On fees, SPHQ is cheaper at 0.15% per year. On volatility, SPHQ has been the lower-risk option at 5.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPHQ or QQQ?

Over the 10-year period, QQQ has performed better with a 22.01% return vs 15.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHQ or QQQ?

SPHQ is cheaper with a 0.15% expense ratio, compared with 0.18% for QQQ.

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

SPHQ has the higher dividend yield at 1.07%, compared with 0.43% for QQQ.

What is the main difference between SPHQ and QQQ?

SPHQ is categorized as S&P 500, while QQQ is Nasdaq-100. SPHQ tracks S&P 500 Quality Index, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.15% for SPHQ and 0.18% for QQQ.

Which has better risk-adjusted returns?

SPHQ currently has the higher Sharpe Ratio (1.87 vs 1.81), 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.