Compare QQQ vs. SPY ETF performance

›Compare ETFs›QQQ vs. SPY ETF comparison

Comparing 2 ETFs	Performance (September 2, 2026 - October 2, 2026)
QQQ +5.76% SPY +0.83%

Comparison analysis

Invesco QQQ ETF (QQQ) and State Street SPDR S&P 500 ETF Trust (SPY) belong to the US Large Cap industry segment. Both funds use a Direct (Physical) replication method to follow their index and a replication model of Full replication. Both QQQ and SPY distribute dividends, with a TTM distribution yield of 0.41% and 0.99% respectively. Technology, Consumer Non-Cyclicals and Healthcare are QQQ’s top sector exposures, while SPY invests in Technology, Finance and Healthcare as its top 3. QQQ’s top underlying securities are NVIDIA Corp. (8.75%), Apple, Inc. (7.33%) and Microsoft Corp. (5.95%). SPY’s top underlying securities are NVIDIA Corp. (8.07%), Apple, Inc. (7.03%) and Microsoft Corp. (5.69%). With a Total Expense Ratio (TER) of 0.18%, QQQ is more expensive than SPY, with 0.0945%. QQQ has a 3M average daily volume (ADV) of +$18.38B vs. +$23.95B for SPY. The recorded 1Y bid-ask spread is +0.34bps (QQQ) and +0.26bps (SPY). The table below shows the full side-by-side ETF comparison of QQQ and SPY, with detailed data on performance, flows, liquidity, exposure to individual stocks, segments, sectors, and geographies, helping you select the best ETFs.

	QQQ Invesco QQQ ETF - USDThis ETF provides exposure to Large Cap US Equities ISIN US46090E1038, US46090E3018, US46090E2028	SPY State Street SPDR S&P 500 ETF Trust - USDThis ETF provides exposure to Large Cap US Equities ISIN US78462F1030


Product Type	Passive ETF	Passive ETF
Strategy	Long only	Long only
NAV	$749.38	$769.44
AuM	-	-
TER	0.18%	0.0945%
Rating

Provider	Invesco	State Street Investment Management
Investment strategy	Invesco QQQ is an exchange-traded fund based on the Nasdaq-100 Index®. The Fund will, under most circumstances, consist of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The Fund and the Index are rebalanced quarterly and reconstituted annually.	The SPDR® S&P 500® ETF Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index. The S&P 500® Index is composed of five hundred (500) selected stocks, all of which are listed on national stock exchanges and spans over 25 separate industry groups.
Dividend policy	Distribution	Distribution


Tax optimisation
PEA
UK Reporting

Performance and flows	Perf. Flows	Perf. Flows
1 month	+5.76% To view, create a free account	+0.83% To view, create a free account
3 months	+5.14%	+3.46%
1 year	+24.31%	+16.25%
3 years	+110.92%	+86.69%
5 years	+119.00%	+92.00%
Month to date	+1.32%	+0.94%
Quarter to date	+1.32%	+0.94%
Year to date	+22.42%	+13.73%

Volatility and risk	1 year 3 years 5 years	1 year 3 years 5 years
Volatility	To view, create a free account	To view, create a free account
Perf./Volatility
Max drawdown
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Exposure
Countries
Sectors or issuer types
Number of holdings	102	500
Weight of top 15 holdings
Top 15 holdings	NVIDIA Corp. Apple, Inc. Microsoft Corp. Micron Technology, Inc. Amazon.com, Inc. Advanced Micro Devices, Inc. Alphabet, Inc. Alphabet, Inc. Tesla, Inc. Broadcom Inc. Meta Platforms, Inc. Walmart, Inc. Intel Corp. Cisco Systems, Inc. Palantir Technologies, Inc. To view, create a free account	NVIDIA Corp. Apple, Inc. Microsoft Corp. Amazon.com, Inc. Alphabet, Inc. Broadcom Inc. Alphabet, Inc. Meta Platforms, Inc. Micron Technology, Inc. Tesla, Inc. JPMorgan Chase & Co. Berkshire Hathaway, Inc. Eli Lilly & Co. Advanced Micro Devices, Inc. Johnson & Johnson To view, create a free account

Replication
Benchmark	NASDAQ-100 Index	S&P 500 Index
Replication method
Replication model
Trackinsight replication rating
Tracking error (1Y)
Tracking difference (1Y)
1Y cumulative return difference	Best -24.78bps Worst -30.39bps	Best -10.43bps Worst -14.00bps
Daily return difference	Avg -0.08bps Worst -0.55bps	Avg -0.04bps Worst -0.46bps

Sustainability
SDG

Frequently asked questions about QQQ and SPY

How did QQQ and SPY perform in 2026?

As of 10/2/2026, QQQ has delivered a year-to-date performance of 22.42%, while SPY has returned 13.73%.

Which ETF is seeing higher flows: QQQ or SPY?

As of 10/2/2026, QQQ has recorded +€6.57B in net flows YTD, compared to +€11.03B for SPY since the beginning of the year.

Which ETF shows higher volatility: QQQ or SPY?

As of 10/2/2026, QQQ reported a 1-year volatility of 19.92%, whereas SPY registered volatility 13.00% over the same period.

How do QQQ and SPY differ in sector exposure?

As of 10/2/2026, QQQ is primarily exposed to sectors such as Technology, weight 67.22%, Consumer Non-Cyclicals, weight 11.50% and Healthcare, weight 4.01%. The top sectors in SPY feature Technology, weight 45.23%, Finance, weight 13.62% and Healthcare, weight 9.08%.

How do QQQ and SPY differ in geographic exposure?

As of 10/2/2026, QQQ has its largest country exposures in USA, weight 94.49%, United Kingdom, weight 1.67% and Netherlands, weight 1.34%. The top countries in SPY feature USA, weight 96.40% and Ireland, weight 1.15%.

How do QQQ and SPY differ in terms of holdings?

As of 10/2/2026, QQQ include NVIDIA Corp., weight 8.75%, Apple, Inc., weight 7.33% and Microsoft Corp., weight 5.95%. The top positions in SPY feature NVIDIA Corp., weight 8.07%, Apple, Inc., weight 7.03% and Microsoft Corp., weight 5.69%.

Is QQQ or SPY more diversified?

As of 10/2/2026, QQQ holds 102 securities, with 56.80% of its assets allocated to its top 15 positions. SPY, by comparison, includes 500 holdings and has 44.11% concentrated in its top 15.

Which ETF has a higher distribution yield: QQQ or SPY?

As of 10/2/2026, QQQ has a trailing 12-month yield of 0.41%, while SPY offers 0.99%.

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