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Dividend Vision

ETF Comparison

SPMO vs QQQ: Recent Winners, or 100 Nasdaq Names?

A head-to-head of Invesco's S&P 500 Momentum ETF and the Invesco QQQ Trust covering how each book is built, cost, and concentration.

Data updated September 18, 2026

Best for

  • QQQInvestors who want a growth tilt and can accept bigger swings for higher upside.
  • SPMOInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

QQQ has lagged SPMO over the trailing twelve months, posting a 22.87% total return against 24.68%. The lead holds up over 5 years too: SPMO has compounded at 20.35% a year, against 14.73% for QQQ. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5YSince Oct 2015Volatility Sharpe Sortino Max drawdown
QQQ17.95%22.87%25.51%14.73%19.96%20.4%0.901.29-22.8%
SPMO25.23%24.68%37.15%20.35%19.09%22.0%1.241.80-20.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Oct 2015” measures every fund from October 12, 2015 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricQQQSPMO
Full nameInvesco QQQ TrustInvesco S&P 500 Momentum ETF
IssuerInvescoInvesco
Underlying indexNasdaq-100 IndexS&P 500 Momentum Index
Last Close$721.45 as of September 18, 2026$149.21 as of September 18, 2026
Distribution rate0.45%0.66%
Distribution Safety Score™ 9772
Safety-Adjusted Yield 0.44%0.48%
Expense ratio0.18%0.13%
AUM$475B$22.1B
Distribution frequencyQuarterlyQuarterly
ObjectiveTrack the Nasdaq-100 Index, which includes 100 of the largest non-financial Nasdaq stocks.Track the S&P 500 Momentum Index, providing factor exposure to the highest momentum names within the S&P 500.
Asset classEquityEquity
Inception date03/10/199910/09/2015
Beta1.261.35
Last dividend$0.8135$0.245
Ex-dividend date06/22/202606/22/2026

Bottom lineChoose QQQ if you want a growth tilt and can accept bigger swings for higher upside. Choose SPMO if you want broad equity exposure.

QQQ vs SPMO: Nasdaq-100 or S&P 500 momentum?

QQQ is a listing-rule book. SPMO is a factor sleeve of recent S&P 500 winners. They overlap on mega-caps and still are not substitutes.

QQQSPMO
What it ownsNasdaq-100 IndexS&P 500 Momentum Index
Expense ratio0.18%0.13%
Distribution rate0.45%0.66%
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Invesco
ETFs246
Total AUM$980B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on QQQ and SPMO.

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Quick verdict

QQQ (Invesco QQQ Trust) and SPMO (Invesco S&P 500 Momentum ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SPMO offers the higher yield at 0.66% vs 0.45% for QQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SPMO is cheaper with an expense ratio of 0.13% compared to 0.18%.

They have different reference exposures: QQQ is linked to Nasdaq-100 Index while SPMO is linked to S&P 500 Momentum Index, which means their performance drivers differ.

QQQ is the larger fund by assets ($475B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, QQQ would generate roughly $3.75/month, while SPMO would produce $5.50/month, at current distribution rates. Both pay quarterly distributions.

QQQ yield0.45%
SPMO yield0.66%
Monthly diff on $10K$1.75

Cost & efficiency

Over 10 years on $10,000, QQQ would cost approximately $180 in fees vs $130 for SPMO (simplified, not compounded). The $50.00 difference may be offset by yield or performance.

QQQ ER0.18%
SPMO ER0.13%

Strategy & risk

QQQ tracks Nasdaq-100 Index with a growth approach, while SPMO tracks S&P 500 Momentum Index with an index approach. Beta is 1.26 for QQQ and 1.35 for SPMO, making QQQ the less volatile of the two by this measure.

QQQ beta1.26
SPMO beta1.35

Fund details

QQQ is managed by Invesco (launched 03/10/1999) with $475B in assets. SPMO is managed by Invesco (launched 10/09/2015) with $22.1B in assets.

QQQ AUM$475B
SPMO AUM$22.1B
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Frequently asked questions

What is the difference between SPMO and QQQ?

SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 Momentum Index — S&P 500 names that have been going up. QQQ (Invesco QQQ Trust) tracks Nasdaq-100 Index. Cost is 0.13% versus 0.18%. Distributions are 0.66% and 0.45% as of September 2026. Yield is noise. The decision is momentum-in-the-S&P-500 versus a Nasdaq listing rule.

What is the current distribution rate for QQQ and SPMO?

QQQ currently distributes 0.45% and SPMO 0.66%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is QQQ or SPMO better for dividend income?

It depends on your goals. SPMO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both QQQ and SPMO?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is QQQ or SPMO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — QQQ scores 97, SPMO scores 72, so QQQ's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, QQQ or SPMO?

QQQ has an expense ratio of 0.18% while SPMO charges 0.13%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in QQQ vs SPMO generate?

At current rates, $10,000 in QQQ would generate roughly $3.75 per month ($45.00 annually). The same in SPMO would produce about $5.50 per month ($66.00 annually).

Which has performed better historically, QQQ or SPMO?

QQQ has lagged SPMO over the trailing twelve months, posting a 22.87% total return against 24.68%. The lead holds up over 5 years too: SPMO has compounded at 20.35% a year, against 14.73% for QQQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

QQQ vs SPMO — at a glance

Generated September 19, 2026.

Overview

QQQ and SPMO are both large-cap equity ETFs from Invesco that track factor-tilted indexes, but they operate in different universes. QQQ tracks the Nasdaq-100 Index—the 100 largest non-financial stocks on the Nasdaq exchange—giving you broad exposure to mega-cap tech, consumer, and biotech names. SPMO tracks the S&P 500 Momentum Index, selecting the highest-momentum stocks from the broader S&P 500, which includes financial companies and spans the entire US large-cap market. The choice between them hinges on whether you want pure Nasdaq largecap growth or a momentum-filtered view of the broader S&P 500.

How they differ

The biggest difference is the underlying universe: QQQ holds 100 Nasdaq stocks (heavily tilted toward technology), while SPMO selects momentum leaders from 500 S&P 500 stocks (including financials, industrials, and other sectors). This explains QQQ's higher beta of 1.26 versus SPMO's 1.35—QQQ's Nasdaq tilt amplifies market moves.

On yield and fees, SPMO edges ahead on both counts. SPMO carries a 0.66% distribution rate versus QQQ's 0.45%, and a 0.13% expense ratio compared to QQQ's 0.18%. Both pay quarterly, so there's no frequency advantage either way.

Size and track record differ dramatically. SPMO holds $22.1B, considerably smaller, and inception 10/09/2015 means it has a shorter operating history to evaluate through different market cycles.

Who each is best for

QQQ: Fits investors seeking straightforward exposure to the largest technology and consumer-growth stocks, with minimal rebalancing surprises and the liquidity that comes with one of the world's most-traded ETFs.

SPMO: Fits investors who believe momentum as a factor (stocks with strong recent outperformance) offers an edge within large-cap equities, and who want diversification across the full S&P 500 economy rather than a tech-heavy Nasdaq allocation.

Key risks to know

  • Concentration in technology: QQQ's Nasdaq-100 structure concentrates holdings in mega-cap software, semiconductors, and cloud-computing stocks. A downturn in the technology sector affects QQQ far more than SPMO, which spans finance, energy, and industrials.
  • Momentum factor drawdowns: SPMO's momentum tilt can underperform sharply when market leadership rotates away from recent winners—typically during value rallies or economic recessions. This is a structural risk of the strategy, not temporary volatility.
  • Market-cap concentration risk in both: Both ETFs hold only the largest companies; QQQ's 100 holdings and SPMO's momentum selection mean they lack the broader diversification of full market-cap-weighted indexes. Holdings overlap between the two may be substantial, so owning both does not eliminate concentration.
  • Beta amplification: Both ETFs carry betas above 1.0, meaning they amplify market downturns. QQQ's 1.26 and SPMO's 1.35 suggest both will decline faster than the broader market in corrections.

Bottom line

If you want exposure to mega-cap Nasdaq growth with proven liquidity and a 25-year track record, QQQ's size and low fees are hard to ignore despite the tech concentration. If you prefer broad S&P 500 diversification filtered through a momentum lens and can tolerate factor-style drawdowns, SPMO's lower expense ratio and slightly higher yield offer a different angle on large-cap growth. Neither is a buy-and-hold core holding for everyone; the tradeoff is sector concentration versus factor timing risk. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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