SPYG vs. QQQM

Last updated Jun 14, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, SPYG returned 14.92%/yr vs 16.94%/yr for QQQM. With a 0.97 correlation, they move nearly in lockstep. SPYG charges 0.04%/yr vs 0.15%/yr for QQQM.

Performance

SPYG vs. QQQM - 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 NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYG achieves a 9.70% return, which is significantly lower than QQQM's 17.59% return.

SPYG

• 1D: 0.41%
• 1M: -1.24%
• YTD: 9.70%
• 6M: 10.60%
• 1Y: 29.17%
• 3Y*: 25.85%
• 5Y*: 14.92%
• 10Y*: 17.91%

QQQM

• 1D: 0.67%
• 1M: 1.75%
• YTD: 17.59%
• 6M: 17.91%
• 1Y: 37.64%
• 3Y*: 26.52%
• 5Y*: 16.94%
• 10Y*: —

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

SPYG vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	9.70%	22.09%	35.99%	30.02%	-29.41%	32.01%	4.87%
QQQM Invesco NASDAQ 100 ETF	17.59%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%

Correlation

The correlation between SPYG and QQQM 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 (All Time) Calculated using the full available price history since Oct 13, 2020	0.97

The correlation between SPYG and QQQM has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

SPYG vs. QQQM - Sectors Allocation Comparison

Sectors	SPYG	QQQM
Technology	53.2%	58.7%
Communication Services	16.1%	14.3%
Consumer Cyclical	8.5%	11.4%
Financial Services	8.4%	0.2%
Healthcare	5.8%	3.7%
Industrials	5.1%	2.6%
Utilities	1.1%	1.2%
Consumer Defensive	0.9%	6.4%
Real Estate	0.5%	0.1%
Basic Materials	0.3%	1.0%
Energy	0.1%	0.5%

Return for Risk

SPYG vs. QQQM — Risk / Return Rank

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

SPYG

SPYG Risk / Return Rank: 52
SPYG Sharpe Ratio Rank: 56
SPYG Sortino Ratio Rank: 53
SPYG Omega Ratio Rank: 53
SPYG Calmar Ratio Rank: 45
SPYG Martin Ratio Rank: 53

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 76
QQQM Sortino Ratio Rank: 71
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 70

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. QQQM - 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 NASDAQ 100 ETF (QQQM). 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.

	SPYG	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.11	-0.46
Sortino ratio: Return per unit of downside risk	2.26	2.74	-0.49
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	2.01	3.02	-1.00
Martin ratio: Return relative to average drawdown	8.08	11.23	-3.15

SPYG vs. QQQM - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.65, which is comparable to the QQQM Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of SPYG and QQQM, 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

SPYG vs. QQQM - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for SPYG and QQQM.

Drawdown Indicators

	SPYG	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-35.04%	-32.59%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-11.96%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-22.70%	+0.56%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-35.04%	+2.37%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	—	—
Current Drawdown Current decline from peak	-4.65%	-3.33%	-1.32%
Average Drawdown Average peak-to-trough decline	-24.30%	-8.23%	-16.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.21%	+0.21%

Volatility

SPYG vs. QQQM - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is 6.33%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 7.45%. This indicates that SPYG experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	7.45%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	13.71%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	16.81%	17.11%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.27%	22.40%	-1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	22.22%	-1.52%

SPYG vs. QQQM - Expense Ratio Comparison

SPYG has a 0.04% expense ratio, which is lower than QQQM's 0.15% 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. QQQM - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, more than QQQM's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQM Invesco NASDAQ 100 ETF	0.43%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.48%	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 QQQM in my portfolio?

With a correlation of 0.95, SPYG and QQQM 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 QQQM?

QQQM has higher volatility (7.45%) compared to SPYG (6.33%). In terms of maximum drawdown, SPYG dropped -67.63% vs QQQM's -35.04%.

Which ETF is better, SPYG or QQQM?

On 5-year performance, QQQM leads with 16.94% vs 14.92% for SPYG. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or QQQM?

Over the 5-year period, QQQM has performed better with a 16.94% return vs 14.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or QQQM?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.15% for QQQM.

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

SPYG has the higher dividend yield at 0.48%, compared with 0.43% for QQQM.

What is the main difference between SPYG and QQQM?

SPYG is categorized as S&P 500, while QQQM is Nasdaq-100. SPYG tracks S&P 500 Growth Index, while QQQM tracks NASDAQ-100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.04% for SPYG and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.11 vs 1.65), 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.