SPUS vs. QQQ

Last updated Jun 24, 2026

SPUS (SP Funds S&P 500 Sharia Industry Exclusions ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SPUS is a S&P 500 fund tracking the S&P 500 Shariah Industry Exclusions Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, SPUS returned 15.64%/yr vs 16.01%/yr for QQQ. With a 0.95 correlation, they move nearly in lockstep. SPUS charges 0.45%/yr vs 0.18%/yr for QQQ.

Performance

SPUS vs. QQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, SPUS achieves a 10.08% return, which is significantly lower than QQQ's 16.45% return.

SPUS

• 1D: -2.44%
• 1M: -1.97%
• YTD: 10.08%
• 6M: 9.02%
• 1Y: 31.44%
• 3Y*: 21.93%
• 5Y*: 15.64%
• 10Y*: —

QQQ

• 1D: -3.29%
• 1M: -0.43%
• YTD: 16.45%
• 6M: 14.99%
• 1Y: 34.88%
• 3Y*: 26.05%
• 5Y*: 16.01%
• 10Y*: 22.07%

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

SPUS vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	10.08%	19.77%	26.49%	34.24%	-22.76%	35.92%	25.68%	0.95%
QQQ Invesco QQQ ETF	16.45%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	1.76%

Correlation

The correlation between SPUS and QQQ is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 18, 2019	0.95

The correlation between SPUS and QQQ has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

SPUS vs. QQQ - Sectors Allocation Comparison

Sectors	SPUS	QQQ
Technology	61.1%	58.7%
Healthcare	10.5%	3.7%
Consumer Cyclical	6.9%	11.4%
Industrials	6.2%	2.6%
Communication Services	5.9%	14.3%
Basic Materials	2.7%	1.0%
Energy	2.7%	0.5%
Consumer Defensive	2.7%	6.4%
Real Estate	1.1%	0.1%
Utilities	0.2%	1.2%
Financial Services	-	0.2%

Return for Risk

SPUS vs. QQQ — Risk / Return Rank

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

SPUS

SPUS Risk / Return Rank: 63
SPUS Sharpe Ratio Rank: 66
SPUS Sortino Ratio Rank: 61
SPUS Omega Ratio Rank: 62
SPUS Calmar Ratio Rank: 62
SPUS Martin Ratio Rank: 67

QQQ

QQQ Risk / Return Rank: 59
QQQ Sharpe Ratio Rank: 61
QQQ Sortino Ratio Rank: 55
QQQ Omega Ratio Rank: 58
QQQ Calmar Ratio Rank: 61
QQQ Martin Ratio Rank: 62

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.

SPUS vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) 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.

	SPUS	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.95	+0.12
Sortino ratio: Return per unit of downside risk	2.75	2.57	+0.18
Omega ratio: Gain probability vs. loss probability	1.36	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	2.96	2.93	+0.03
Martin ratio: Return relative to average drawdown	11.81	10.86	+0.94

SPUS vs. QQQ - Sharpe Ratio Comparison

The current SPUS Sharpe Ratio is 2.07, which is comparable to the QQQ Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of SPUS 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

SPUS vs. QQQ - Drawdown Comparison

The maximum SPUS drawdown since its inception was -30.80%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SPUS and QQQ.

Drawdown Indicators

	SPUS	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-30.80%	-82.97%	+52.17%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-11.96%	+1.30%
Max Drawdown (3Y) Largest decline over 3 years	-22.82%	-22.77%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-28.06%	-35.12%	+7.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-5.76%	-4.25%	-1.51%
Average Drawdown Average peak-to-trough decline	-6.19%	-32.73%	+26.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.22%	-0.55%

Volatility

SPUS vs. QQQ - Volatility Comparison

The current volatility for SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) is 6.81%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that SPUS 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

	SPUS	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.81%	9.17%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	14.57%	-2.28%
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	17.96%	-2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.41%	22.69%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	22.42%	-1.09%

SPUS vs. QQQ - Expense Ratio Comparison

SPUS has a 0.45% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

SPUS vs. QQQ - Dividend Comparison

SPUS's dividend yield for the trailing twelve months is around 0.55%, 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%
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF	0.55%	0.60%	0.70%	0.87%	1.21%	1.15%	1.04%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPUS and QQQ in my portfolio?

With a correlation of 0.94, SPUS and QQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPUS or QQQ?

QQQ has higher volatility (9.17%) compared to SPUS (6.81%). In terms of maximum drawdown, SPUS dropped -30.80% vs QQQ's -82.97%.

Which ETF is better, SPUS or QQQ?

On 5-year performance, QQQ leads with 16.01% vs 15.64% for SPUS. On fees, QQQ is cheaper at 0.18% per year. On volatility, SPUS has been the lower-risk option at 6.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUS or QQQ?

Over the 5-year period, QQQ has performed better with a 16.01% return vs 15.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUS or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.45% for SPUS.

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

SPUS has the higher dividend yield at 0.55%, compared with 0.43% for QQQ.

What is the main difference between SPUS and QQQ?

SPUS is categorized as S&P 500, while QQQ is Nasdaq-100. SPUS tracks S&P 500 Shariah Industry Exclusions Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: SP Funds and Invesco. Their fees differ too: 0.45% for SPUS and 0.18% for QQQ.

Which has better risk-adjusted returns?

SPUS currently has the higher Sharpe Ratio (2.07 vs 1.95), 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.