QQQI vs SPY
NEOS Nasdaq-100 High Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QQQI or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 46.5%.
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 | QQQI | SPY |
|---|---|---|
| Expense Ratio | 0.68% | 0.09%Best |
| AUM | $15.3B | $823.2B |
| Dividend Yield | 13.76% | 0.99% |
| Holdings | 209 | 1,515 |
| YTD Return | +13.56%Best | +13.53% |
| 1Y Return | +16.95% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 12.4% | 11.8%Best |
| Max Drawdown | -20.0% | -18.8%Best |
| $10,000 over 2.7 years | $15,908 | $16,177Best |
| Top 10 Weight | 46.5% | 38.2%Best |
| Fund Family | NEOS | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 30, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Jan 30, 2024 to Oct 14, 2026 (2.7 years).
QQQI vs SPY 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 covers the 2.7 years both funds cover.
QQQI vs SPY Performance
NEOS Nasdaq-100 High Income ETF (QQQI) is an ETF from NEOS and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QQQI returned +16.95% while SPY returned +17.47%. Year to date, QQQI is up 13.56% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQI has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 11.8% for SPY. 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 -20.0% for QQQI and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQI charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, QQQI currently yields 13.76% against 0.99% for SPY.
Holdings Overlap
93.3% of QQQI's money is in holdings SPY also owns. 54.2% of SPY's money is in holdings QQQI also owns.
Most of QQQI is already inside SPY. Owning both mostly buys the same companies twice.
86 positions in common, counted across the 101 positions we hold weights for in QQQI and 504 in SPY, against full books of 209 and 1,515.
What only one of them owns
Our book lists 410 positions for SPY that do not appear in our book for QQQI (44.9% of the fund), and 10 for QQQI that do not appear in SPY (3.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in QQQI | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.13% | 7.78% | 0.35% |
| AAPLApple, Inc | 7.71% | 7.45% | 0.26% |
| MSFTMicrosoft Corp | 5.97% | 5.71% | 0.26% |
| AMZNAmazon.Com Inc | 4.34% | 3.78% | 0.56% |
| GOOGLAlphabet Inc | 3.24% | 3.12% | 0.12% |
| MUMicron Technology, Inc. | 4.57% | 1.59% | 2.98% |
| GOOGAlphabet Inc. C | 3.00% | 2.49% | 0.51% |
| METAMeta Platforms Inc | 3.14% | 2.22% | 0.92% |
| AVGOBroadcom Inc | 2.61% | 2.48% | 0.13% |
| AMDAdvanced Micro Devices Inc | 3.54% | 1.22% | 2.32% |
93.3% of QQQI is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QQQI or SPY?
QQQI has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, QQQI or SPY?
Over the past year QQQI returned +16.95% vs +17.47% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQI or SPY?
QQQI has been the more volatile fund at 12.4% annualized versus 11.8% for SPY. Worst drawdown: QQQI -20.0% vs SPY -18.8%.
Should I hold both QQQI and SPY?
QQQI and SPY have a monthly-return correlation of 0.88, 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 QQQI and SPY?
93.3% of QQQI's money is in holdings SPY also owns. 54.2% of SPY's is in holdings QQQI also owns. They hold 86 positions in common, counted across the 101 positions we hold weights for in QQQI and 504 in SPY.
Which pays a higher dividend, QQQI or SPY?
QQQI yields 13.76% while SPY yields 0.99%, so QQQI currently pays the higher dividend yield.
Is SPY better than QQQI?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.