CWI vs QQQ
State Street SPDR MSCI ACWI ex-US ETF vs Invesco QQQ Trust, Series 1
Which is better, CWI or QQQ?
Large Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CWI | QQQ |
|---|---|---|
| Expense Ratio | 0.30% | 0.18%Best |
| AUM | $2.9B | $506.1B |
| Dividend Yield | 2.70% | 0.42% |
| Holdings | 1,181 | 321 |
| YTD Return | +10.12% | +19.30%Best |
| 1Y Return | +17.25% | +22.47%Best |
| 3Y Return (annualized) | +20.15% | +26.18%Best |
| 5Y Return (annualized) | +9.22% | +15.42%Best |
| Volatility (annualized) | 17.5%Best | 18.7% |
| Max Drawdown | -62.4% | -53.5%Best |
| $10,000 over 5 years | $15,542 | $20,484Best |
| Fund Family | State Street Investment Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 10, 2007 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 17, 2007 to Oct 14, 2026 (19.7 years).
CWI vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
CWI vs QQQ Performance
State Street SPDR MSCI ACWI ex-US ETF (CWI) is an ETF from State Street Investment Management and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year CWI returned +17.25% while QQQ returned +22.47%. Year to date, CWI is up 10.12% versus a gain of 19.30% for QQQ.
Over three years, CWI compounded at +20.15% per year against +26.18% for QQQ; over five years the annualized figures are +9.22% and +15.42% respectively. Across the full 20-year window we track, QQQ has the edge at +15.36% annualized vs +3.34%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 17.5% for CWI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -62.4% for CWI and -53.5% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWI charges 0.30% per year while QQQ charges 0.18%. On a $10,000 position that is $30 vs $18 annually, a gap of $12 per year that compounds over a long holding period. On income, CWI currently yields 2.70% against 0.42% for QQQ.
Holdings Overlap
At least 1.3% of QQQ's money is in holdings CWI also owns.
Stated as a floor: for CWI, our book for it covers 93.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
QQQ and CWI share little of their money.
4 positions in common, counted across the 1,083 positions we hold weights for in CWI and 101 in QQQ, against full books of 1,181 and 321.
You are not choosing between two funds in isolation.
Whichever of CWI and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CWI or QQQ?
CWI has an expense ratio of 0.30% while QQQ charges 0.18%. QQQ is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, CWI or QQQ?
Over the past year CWI returned +17.25% vs +22.47% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), CWI annualized +3.34% vs +15.36% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CWI or QQQ?
QQQ has been the more volatile fund at 18.7% annualized versus 17.5% for CWI. Worst drawdown: CWI -62.4% vs QQQ -53.5%.
Should I hold both CWI and QQQ?
CWI and QQQ have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CWI and QQQ?
At least 1.3% of QQQ's money is in holdings CWI also owns. Our book for CWI is partial, so the real figure is this or higher. They hold 4 positions in common, counted across the 1,083 positions we hold weights for in CWI and 101 in QQQ.
Which pays a higher dividend, CWI or QQQ?
CWI yields 2.70% while QQQ yields 0.42%, so CWI currently pays the higher dividend yield.
Is QQQ better than CWI?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.