QQQ vs SLY
Invesco QQQ Trust, Series 1 vs SPDR S&P 600 Small Cap ETF
Which is better, QQQ or SLY?
Large Cap Growth against Small Cap Blend.
SLY has a lower expense ratio. QQQ led over 1Y 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 | QQQ | SLY |
|---|---|---|
| Expense Ratio | 0.18% | 0.15%Best |
| AUM | $506.1B | $1.7B |
| Dividend Yield | 0.42% | 1.62% |
| Holdings | 321 | 605 |
| Volatility (annualized) | 18.7%Best | 20.2% |
| Max Drawdown | -53.5%Best | -60.1% |
| $10,000 over 17.6 years | $89,068Best | $46,916 |
| Fund Family | Invesco (US) | SPDR State Street Global Advisors |
| Category | Equity | Equity |
| Style | Large Cap Growth | Small Cap Blend |
| Inception | Mar 10, 1999 | Nov 8, 2005 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 1223 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. QQQ has data through Oct 14, 2026 and SLY through Jun 9, 2023.
Volatility and max drawdown, and the $10,000 over 17.6 years row, are measured over the window both funds cover: Nov 15, 2005 to Jun 9, 2023 (17.6 years).
Risk: Volatility and Drawdowns
SLY has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 18.7% for QQQ. 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 -53.5% for QQQ and -60.1% for SLY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while SLY charges 0.15%. On a $10,000 position that is $18 vs $15 annually, a gap of $3 per year that compounds over a long holding period. On income, QQQ currently yields 0.42% against 1.62% for SLY.
You are not choosing between two funds in isolation.
Whichever of QQQ and SLY 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, QQQ or SLY?
QQQ has an expense ratio of 0.18% while SLY charges 0.15%. SLY is the cheaper option, by $3 a year on a $10,000 investment.
Which is riskier, QQQ or SLY?
SLY has been the more volatile fund at 20.2% annualized versus 18.7% for QQQ. Worst drawdown: QQQ -53.5% vs SLY -60.1%.
Should I hold both QQQ and SLY?
QQQ and SLY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, QQQ or SLY?
QQQ yields 0.42% while SLY yields 1.62%, so SLY currently pays the higher dividend yield.
Is SLY better than QQQ?
SLY has a lower expense ratio. QQQ led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.