SPYG vs. QQQE

Last updated Jun 4, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 10 years, SPYG returned 18.20%/yr vs 15.49%/yr for QQQE. Their correlation of 0.88 suggests significant overlap in exposure. SPYG charges 0.04%/yr vs 0.35%/yr for QQQE.

Performance

SPYG vs. QQQE - 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 Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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 QQQE's 19.12% return. Over the past 10 years, SPYG has outperformed QQQE with an annualized return of 18.20%, while QQQE has yielded a comparatively lower 15.49% 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%

QQQE

• 1D: -0.10%
• 1M: 10.46%
• YTD: 19.12%
• 6M: 17.48%
• 1Y: 28.68%
• 3Y*: 18.69%
• 5Y*: 10.30%
• 10Y*: 15.49%

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

SPYG vs. QQQE - 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%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	19.12%	14.58%	6.98%	33.76%	-24.47%	17.93%	37.85%	36.43%	-5.40%	26.53%

Correlation

The correlation between SPYG and QQQE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 22, 2012	0.88

The correlation between SPYG and QQQE shifts across timeframes, from 0.77 (1 year) to 0.89 (10 years), reflecting how their relationship changes across market environments.

SPYG vs. QQQE - Sectors Allocation Comparison

Sectors	SPYG	QQQE
Technology	51.9%	45.1%
Communication Services	16.8%	9.1%
Consumer Cyclical	8.9%	10.9%
Financial Services	8.5%	1.0%
Healthcare	5.8%	8.6%
Industrials	5.0%	10.1%
Utilities	1.2%	3.9%
Consumer Defensive	1.0%	7.7%
Real Estate	0.6%	0.7%
Basic Materials	0.3%	0.9%
Energy	0.1%	2.0%

Return for Risk

SPYG vs. QQQE — 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

QQQE

QQQE Risk / Return Rank: 58
QQQE Sharpe Ratio Rank: 59
QQQE Sortino Ratio Rank: 57
QQQE Omega Ratio Rank: 55
QQQE Calmar Ratio Rank: 61
QQQE Martin Ratio Rank: 59

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. QQQE - 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 Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.04	+0.08
Sortino ratio: Return per unit of downside risk	2.90	2.79	+0.11
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	2.48	3.06	-0.58
Martin ratio: Return relative to average drawdown	10.25	10.57	-0.31
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. QQQE - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 2.12, which is comparable to the QQQE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of SPYG and QQQE, 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	QQQE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.04	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.51	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.75	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.76	-0.41

Drawdowns

SPYG vs. QQQE - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for SPYG and QQQE.

Drawdown Indicators

	SPYG	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-32.14%	-35.49%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-9.41%	-4.35%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-21.38%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-32.14%	-0.53%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-32.14%	-0.53%
Current Drawdown Current decline from peak	-1.13%	-0.10%	-1.03%
Average Drawdown Average peak-to-trough decline	-24.33%	-5.17%	-19.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.72%	+0.60%

Volatility

SPYG vs. QQQE - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a higher volatility of 4.35% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.79%. This indicates that SPYG's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	3.79%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	10.64%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	14.15%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.17%	20.30%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	20.72%	-0.08%

SPYG vs. QQQE - Expense Ratio Comparison

SPYG has a 0.04% expense ratio, which is lower than QQQE's 0.35% expense ratio.

Dividends

SPYG vs. QQQE - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.47%, less than QQQE's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.52%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%
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 QQQE in my portfolio?

SPYG and QQQE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYG or QQQE?

SPYG has higher volatility (4.35%) compared to QQQE (3.79%). In terms of maximum drawdown, SPYG dropped -67.63% vs QQQE's -32.14%.

Which ETF is better, SPYG or QQQE?

On 10-year performance, SPYG leads with 18.20% vs 15.49% for QQQE. On fees, SPYG is cheaper at 0.04% per year. On volatility, QQQE has been the lower-risk option at 3.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or QQQE?

Over the 10-year period, SPYG has performed better with a 18.20% return vs 15.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or QQQE?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.35% for QQQE.

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

QQQE has the higher dividend yield at 0.52%, compared with 0.47% for SPYG.

What is the main difference between SPYG and QQQE?

SPYG is categorized as S&P 500, while QQQE is Nasdaq-100. SPYG tracks S&P 500 Growth Index, while QQQE tracks NASDAQ-100 Equal Weighted Index. They also come from different issuers: State Street and Direxion. Their fees differ too: 0.04% for SPYG and 0.35% for QQQE.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (2.12 vs 2.04), 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.