SPYG vs. QQQ

Last updated Jun 4, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SPYG returned 18.20%/yr vs 21.94%/yr for QQQ. Their correlation of 0.87 suggests significant overlap in exposure. SPYG charges 0.04%/yr vs 0.18%/yr for QQQ.

Performance

SPYG vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) 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, SPYG achieves a 13.75% return, which is significantly lower than QQQ's 21.30% return. Over the past 10 years, SPYG has underperformed QQQ with an annualized return of 18.20%, while QQQ has yielded a comparatively higher 21.94% annualized return.

SPYG

• 1D: -0.98%
• 1M: 7.38%
• YTD: 13.75%
• 6M: 13.57%
• 1Y: 33.95%
• 3Y*: 28.16%
• 5Y*: 16.07%
• 10Y*: 18.20%

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

SPYG vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.75%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between SPYG and QQQ is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 3, 2000	0.87

The correlation between SPYG and QQQ shifts across timeframes, from 0.87 (all time) to 0.97 (5 years), reflecting how their relationship changes across market environments.

SPYG vs. QQQ - Sectors Allocation Comparison

Sectors	SPYG	QQQ
Technology	51.9%	53.8%
Communication Services	16.8%	15.8%
Consumer Cyclical	8.9%	12.3%
Financial Services	8.5%	0.2%
Healthcare	5.8%	4.2%
Industrials	5.0%	2.8%
Utilities	1.2%	1.4%
Consumer Defensive	1.0%	7.7%
Real Estate	0.6%	0.1%
Basic Materials	0.3%	1.1%
Energy	0.1%	0.6%

Return for Risk

SPYG vs. QQQ — Risk / Return Rank

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

SPYG

SPYG Risk / Return Rank: 57
SPYG Sharpe Ratio Rank: 62
SPYG Sortino Ratio Rank: 60
SPYG Omega Ratio Rank: 59
SPYG Calmar Ratio Rank: 49
SPYG Martin Ratio Rank: 57

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 71

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.

SPYG vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) 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.

	SPYG	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.64	-0.51
Sortino ratio: Return per unit of downside risk	2.90	3.45	-0.55
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.48	3.51	-1.03
Martin ratio: Return relative to average drawdown	10.25	13.49	-3.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYG vs. QQQ - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 2.12, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of SPYG 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.

Sharpe Ratios by Period

	SPYG	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.64	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.81	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.99	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.41	-0.06

Drawdowns

SPYG vs. QQQ - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SPYG and QQQ.

Drawdown Indicators

	SPYG	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-82.97%	+15.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-11.96%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-22.77%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-35.12%	+2.45%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-35.12%	+2.45%
Current Drawdown Current decline from peak	-1.13%	-0.26%	-0.87%
Average Drawdown Average peak-to-trough decline	-24.33%	-32.79%	+8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.11%	+0.21%

Volatility

SPYG vs. QQQ - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and Invesco QQQ ETF (QQQ) have volatilities of 4.35% and 4.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.49%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	12.10%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	15.94%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.17%	22.38%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	22.29%	-1.65%

SPYG vs. QQQ - Expense Ratio Comparison

SPYG has a 0.04% 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

SPYG vs. QQQ - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.47%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.47%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both SPYG and QQQ in my portfolio?

With a correlation of 0.95, SPYG 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, SPYG or QQQ?

QQQ has higher volatility (4.49%) compared to SPYG (4.35%). In terms of maximum drawdown, SPYG dropped -67.63% vs QQQ's -82.97%.

Which ETF is better, SPYG or QQQ?

On 10-year performance, QQQ leads with 21.94% vs 18.20% for SPYG. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or QQQ?

Over the 10-year period, QQQ has performed better with a 21.94% return vs 18.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or QQQ?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.18% for QQQ.

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

SPYG has the higher dividend yield at 0.47%, compared with 0.38% for QQQ.

What is the main difference between SPYG and QQQ?

SPYG is categorized as S&P 500, while QQQ is Nasdaq-100. SPYG tracks S&P 500 Growth Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.04% for SPYG and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 vs 2.12), 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.