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QQQ vs SPY: Performance & Backtest Comparison
QQQ delivered the higher return - 10.87% CAGR vs 8.56% - over 1999-04-30 → 2026-06-30.
Growth comparison
Drawdown
Annual returns
| QQQ | SPY | |
|---|---|---|
| Name | Invesco QQQ Trust, Series 1 | State Street SPDR S&P 500 ETF Trust |
| CAGR | 10.87% | 8.56% |
| Total return | 1563.95% | 836.80% |
| Volatility | 23.31% | 15.13% |
| Max drawdown | -81.08%Sep 2002 | -50.78%Feb 2009 |
| Sharpe | 0.48 | 0.49 |
| Sortino | 0.65 | 0.70 |
| Best year | 74.15% | 32.31% |
| Worst year | -41.73% | -36.79% |
| Final balance | $166,395 | $93,680 |
Correlation of monthly returns: 0.84. Wondering if you need both? Check their fund overlap →
All figures are total returns: every dividend and distribution is reinvested on its ex-date, and prices are split-adjusted. See the methodology.
Frequently asked questions
Which has performed better, QQQ or SPY?
Over 1999-04-30 to 2026-06-30, QQQ performed better: 10.87% annualized versus 8.56% for SPY, with dividends reinvested. Past performance does not guarantee future results.
How similar are QQQ and SPY?
Their monthly returns have a correlation of 0.84 over the common period. QQQ is Invesco QQQ Trust, Series 1; SPY is State Street SPDR S&P 500 ETF Trust.
Which is riskier, QQQ or SPY?
Over the common period QQQ had 23.31% annualized volatility and a -81.08% max drawdown, versus 15.13% and -50.78% for SPY.