SPSM vs. QQQS
Compare and contrast key facts about SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and Invesco NASDAQ Future Gen 200 ETF (QQQS).
SPSM and QQQS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013. QQQS is a passively managed fund by Invesco that tracks the performance of the Nasdaq Innovators Completion Cap Total Return Index. It was launched on Oct 13, 2022. Both SPSM and QQQS 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
SPSM vs. QQQS - Performance Comparison
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SPSM vs. QQQS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 4.17% | 6.11% | 8.55% | 16.11% | 3.99% |
QQQS Invesco NASDAQ Future Gen 200 ETF | 0.79% | 23.03% | 10.20% | -1.94% | 6.56% |
Returns By Period
In the year-to-date period, SPSM achieves a 4.17% return, which is significantly higher than QQQS's 0.79% return.
SPSM
- 1D
- 0.66%
- 1M
- -4.08%
- YTD
- 4.17%
- 6M
- 5.65%
- 1Y
- 20.97%
- 3Y*
- 10.75%
- 5Y*
- 4.29%
- 10Y*
- 10.12%
QQQS
- 1D
- 1.77%
- 1M
- -5.87%
- YTD
- 0.79%
- 6M
- 3.60%
- 1Y
- 53.03%
- 3Y*
- 8.90%
- 5Y*
- —
- 10Y*
- —
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SPSM vs. QQQS - Expense Ratio Comparison
SPSM has a 0.05% expense ratio, which is lower than QQQS's 0.20% 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%.
Return for Risk
SPSM vs. QQQS — Risk / Return Rank
SPSM
QQQS
SPSM vs. QQQS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) 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.
| SPSM | QQQS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 1.73 | -0.80 |
Sortino ratioReturn per unit of downside risk | 1.44 | 2.33 | -0.89 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.44 | 3.14 | -1.70 |
Martin ratioReturn relative to average drawdown | 5.80 | 10.80 | -5.00 |
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
| SPSM | QQQS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 1.73 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.38 | +0.03 |
Correlation
The correlation between SPSM and QQQS is 0.84, 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
SPSM vs. QQQS - Dividend Comparison
SPSM's dividend yield for the trailing twelve months is around 1.58%, less than QQQS's 3.45% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.58% | 1.62% | 1.85% | 1.61% | 1.38% | 1.40% | 1.34% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% |
QQQS Invesco NASDAQ Future Gen 200 ETF | 3.45% | 3.48% | 0.80% | 0.68% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPSM vs. QQQS - Drawdown Comparison
The maximum SPSM drawdown since its inception was -42.89%, which is greater than QQQS's maximum drawdown of -38.06%. Use the drawdown chart below to compare losses from any high point for SPSM and QQQS.
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Drawdown Indicators
| SPSM | QQQS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.89% | -38.06% | -4.83% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -16.53% | +1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -27.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.89% | — | — |
Current DrawdownCurrent decline from peak | -5.18% | -7.82% | +2.64% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -13.83% | +5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.68% | 4.80% | -1.12% |
Volatility
SPSM vs. QQQS - Volatility Comparison
The current volatility for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is 6.26%, while Invesco NASDAQ Future Gen 200 ETF (QQQS) has a volatility of 10.13%. This indicates that SPSM 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.
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Volatility by Period
| SPSM | QQQS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 10.13% | -3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 19.99% | -7.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 30.76% | -8.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 28.42% | -6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.97% | 28.42% | -5.45% |