SPTL vs. QQQ
SPTL (SPDR Portfolio Long Term Treasury ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SPTL is a Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SPTL returned -1.81%/yr vs 20.44%/yr for QQQ. Their -0.20 correlation means they have often moved in opposite directions in the past. SPTL charges 0.03%/yr vs 0.18%/yr for QQQ.
Performance
SPTL vs. QQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPTL achieves a -3.28% return, which is significantly lower than QQQ's 12.26% return. Over the past 10 years, SPTL has underperformed QQQ with an annualized return of -1.81%, while QQQ has yielded a comparatively higher 20.44% annualized return.
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
QQQ
- 1D
- 0.65%
- 1M
- -3.45%
- 6M
- 10.89%
- YTD
- 12.26%
- 1Y
- 24.81%
- 3Y*
- 22.29%
- 5Y*
- 14.23%
- 10Y*
- 20.44%
- ALL TIME*
- 10.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.32B | $28.40B | $31.45B | |
| $141.08M | $126.11M | $146.73M |
SPTL vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
QQQ Invesco QQQ ETF | 12.26% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between SPTL and QQQ is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.04 |
Correlation (All Time) Calculated using the full available price history since May 30, 2007 | -0.20 |
The correlation between SPTL and QQQ shifts across timeframes, from -0.20 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPTL vs. QQQ — Risk / Return Rank
SPTL
QQQ
SPTL vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Treasury ETF (SPTL) 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.
| SPTL | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.21 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 1.88 | -1.94 |
| Martin ratioReturn relative to average drawdown | -0.14 | 6.00 | -6.14 |
Loading charts...
Drawdowns
SPTL vs. QQQ - Drawdown Comparison
The maximum SPTL drawdown since its inception was -46.20%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SPTL and QQQ.
Loading charts...
Drawdown Indicators
| SPTL | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.20% | -82.97% | +36.77% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -11.96% | +4.87% |
Max Drawdown (3Y)Largest decline over 3 years | -13.39% | -22.77% | +9.38% |
Max Drawdown (5Y)Largest decline over 5 years | -41.02% | -35.12% | -5.90% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | -35.12% | -11.08% |
Current DrawdownCurrent decline from peak | -38.71% | -7.69% | -31.02% |
Average DrawdownAverage peak-to-trough decline | -14.43% | -32.62% | +18.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.74% | -0.53% |
Volatility
SPTL vs. QQQ - Volatility Comparison
The current volatility for SPDR Portfolio Long Term Treasury ETF (SPTL) is 2.26%, while Invesco QQQ ETF (QQQ) has a volatility of 6.87%. This indicates that SPTL 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.
Loading charts...
Volatility by Period
| SPTL | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 6.87% | -4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 6.39% | 16.08% | -9.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 19.38% | -10.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 22.90% | -8.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.88% | 22.50% | -8.62% |
SPTL vs. QQQ - Expense Ratio Comparison
SPTL 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
SPTL vs. QQQ - Dividend Comparison
SPTL's dividend yield for the trailing twelve months is around 4.35%, more than QQQ's 0.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.44% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
SPTL SPDR Portfolio Long Term Treasury ETF | 3.99% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
Frequently Asked Questions
SPTL and QQQ have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (6.87%) compared to SPTL (2.26%). In terms of maximum drawdown, SPTL dropped -46.20% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 20.44% vs -1.81% for SPTL. On fees, SPTL is cheaper at 0.03% per year. On volatility, SPTL has been the lower-risk option at 2.26%. 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 20.44% return vs -1.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTL is cheaper with a 0.03% expense ratio, compared with 0.18% for QQQ.
SPTL has the higher dividend yield at 3.99%, compared with 0.44% for QQQ.
SPTL is categorized as Government Bonds, while QQQ is Nasdaq-100. SPTL tracks Bloomberg Long U.S. Treasury Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.03% for SPTL and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.16 vs -0.05), 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.
Find the right allocation for SPTL and QQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer