SPUC vs. QBIG

Last updated Jun 5, 2026

SPUC (Simplify US Equity PLUS Upside Convexity ETF) and QBIG (Invesco Top QQQ ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, SPUC returned 29.51% vs 35.53% for QBIG. Their correlation of 0.81 suggests significant overlap in exposure. SPUC charges 0.53%/yr vs 0.29%/yr for QBIG.

Performance

SPUC vs. QBIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Upside Convexity ETF (SPUC) and Invesco Top QQQ ETF (QBIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUC achieves a 9.72% return, which is significantly higher than QBIG's 8.86% return.

SPUC

• 1D: 0.37%
• 1M: 4.26%
• YTD: 9.72%
• 6M: 8.65%
• 1Y: 29.51%
• 3Y*: 24.38%
• 5Y*: 13.74%
• 10Y*: —

QBIG

• 1D: 0.06%
• 1M: 3.57%
• YTD: 8.86%
• 6M: 6.25%
• 1Y: 35.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPUC vs. QBIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPUC Simplify US Equity PLUS Upside Convexity ETF	9.72%	22.64%	-9.77%
QBIG Invesco Top QQQ ETF	8.86%	21.46%	3.04%

Correlation

The correlation between SPUC and QBIG is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.81

The correlation between SPUC and QBIG has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.

SPUC vs. QBIG - Sectors Allocation Comparison

Sectors	SPUC	QBIG
Technology	36.2%	19.4%
Financial Services	11.9%	14.8%
Communication Services	10.9%	6.0%
Consumer Cyclical	10.1%	7.9%
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

SPUC vs. QBIG — Risk / Return Rank

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

SPUC

SPUC Risk / Return Rank: 51
SPUC Sharpe Ratio Rank: 52
SPUC Sortino Ratio Rank: 48
SPUC Omega Ratio Rank: 49
SPUC Calmar Ratio Rank: 53
SPUC Martin Ratio Rank: 52

QBIG

QBIG Risk / Return Rank: 46
QBIG Sharpe Ratio Rank: 55
QBIG Sortino Ratio Rank: 51
QBIG Omega Ratio Rank: 50
QBIG Calmar Ratio Rank: 37
QBIG Martin Ratio Rank: 37

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.

SPUC vs. QBIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) and Invesco Top QQQ ETF (QBIG). 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.

	SPUC	QBIG	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.84	-0.07
Sortino ratio: Return per unit of downside risk	2.33	2.45	-0.12
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.57	1.81	+0.75
Martin ratio: Return relative to average drawdown	8.66	5.66	+3.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPUC vs. QBIG - Sharpe Ratio Comparison

The current SPUC Sharpe Ratio is 1.76, which is comparable to the QBIG Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of SPUC and QBIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPUC	QBIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.84	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.85	-0.09

Drawdowns

SPUC vs. QBIG - Drawdown Comparison

The maximum SPUC drawdown since its inception was -29.20%, roughly equal to the maximum QBIG drawdown of -30.33%. Use the drawdown chart below to compare losses from any high point for SPUC and QBIG.

Drawdown Indicators

	SPUC	QBIG	Difference
Max Drawdown Largest peak-to-trough decline	-29.20%	-30.33%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-19.70%	+8.14%
Max Drawdown (3Y) Largest decline over 3 years	-28.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.20%	—	—
Current Drawdown Current decline from peak	-0.05%	-3.28%	+3.23%
Average Drawdown Average peak-to-trough decline	-8.48%	-7.01%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	6.30%	-2.88%

Volatility

SPUC vs. QBIG - Volatility Comparison

The current volatility for Simplify US Equity PLUS Upside Convexity ETF (SPUC) is 2.64%, while Invesco Top QQQ ETF (QBIG) has a volatility of 5.32%. This indicates that SPUC experiences smaller price fluctuations and is considered to be less risky than QBIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUC	QBIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	5.32%	-2.68%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	14.63%	-3.76%
Volatility (1Y) Calculated over the trailing 1-year period	16.81%	19.42%	-2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.94%	27.28%	-5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	27.28%	-5.82%

SPUC vs. QBIG - Expense Ratio Comparison

SPUC has a 0.53% expense ratio, which is higher than QBIG's 0.29% expense ratio.

Dividends

SPUC vs. QBIG - Dividend Comparison

SPUC's dividend yield for the trailing twelve months is around 9.16%, while QBIG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
QBIG Invesco Top QQQ ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUC Simplify US Equity PLUS Upside Convexity ETF	9.16%	7.70%	0.94%	1.33%	1.53%	2.00%	0.75%

Frequently Asked Questions

Can I hold both SPUC and QBIG in my portfolio?

SPUC and QBIG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPUC or QBIG?

QBIG has higher volatility (5.32%) compared to SPUC (2.64%). In terms of maximum drawdown, SPUC dropped -29.20% vs QBIG's -30.33%.

Which ETF is better, SPUC or QBIG?

On 1-year performance, QBIG leads with 35.53% vs 29.51% for SPUC. On fees, QBIG is cheaper at 0.29% per year. On volatility, SPUC has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUC or QBIG?

Over the 1-year period, QBIG has performed better with a 35.53% return vs 29.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUC or QBIG?

QBIG is cheaper with a 0.29% expense ratio, compared with 0.53% for SPUC.

Which ETF pays a higher dividend yield, SPUC or QBIG?

SPUC has the higher dividend yield at 9.16%, compared with 0.00% for QBIG.

What is the main difference between SPUC and QBIG?

They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.53% for SPUC and 0.29% for QBIG.

Which has better risk-adjusted returns?

QBIG currently has the higher Sharpe Ratio (1.84 vs 1.76), 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.