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ETF Comparison

QQQ vs SPMO: Which Is the Better Pick in 2026?

A head-to-head comparison of Invesco QQQ Trust and Invesco S&P 500 Momentum ETF covering yield, cost, risk, and income potential.

Data updated July 21, 2026

Invesco
ETFs254
Total AUM$964B

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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Side-by-side snapshot

QQQSPMO
Full nameInvesco QQQ TrustInvesco S&P 500 Momentum ETF
IssuerInvescoInvesco
Last Close$696.06 as of July 21, 2026$144.52 as of July 21, 2026
Distribution yield0.46%0.68%
Distribution Safety Score™ 9572
Expense ratio0.18%0.13%
AUM$466B$21.0B
Distribution frequencyQuarterlyQuarterly
Underlying indexNasdaq-100 IndexS&P 500 Momentum Index
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
Beta1.241.28
Last dividend$0.7941$0.2450
Ex-dividend date12/21/202606/22/2026

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.

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Visual comparison

Key metrics

Projected income on $10K

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

Total returns

QQQ has lagged SPMO over the trailing twelve months, posting a 23.97% total return against 27.79%. The picture flips over 10 years, though — QQQ has compounded at 20.88% a year, ahead of SPMO at 19.66%. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5Y10YSince Oct 2015Volatility Sharpe Sortino Max drawdown
QQQ13.80%23.97%23.41%15.12%20.88%19.89%20.2%0.821.18-22.8%
SPMO21.29%27.79%37.76%21.00%19.66%19.05%21.2%1.311.91-20.1%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2015” measures every fund from October 12, 2015 — the youngest fund's first trading day — 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.

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 0.68% vs 0.46% 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 track different benchmarks: QQQ is linked to Nasdaq-100 Index while SPMO tracks S&P 500 Momentum Index, which means their performance drivers differ.

QQQ is the larger fund by assets ($466B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, QQQ would generate roughly $3.83/month, while SPMO would produce $5.67/month, at current distribution rates. Both pay quarterly distributions.

QQQ yield0.46%
SPMO yield0.68%
Monthly diff on $10K$1.83

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 1.24 for QQQ and 1.28 for SPMO, indicating QQQ is less volatile relative to the market.

QQQ beta1.24
SPMO beta1.28

Fund details

QQQ is managed by Invesco (launched 03/10/1999) with $466B in assets. SPMO is managed by Invesco (launched 10/09/2015) with $21.0B in assets.

QQQ AUM$466B
SPMO AUM$21.0B
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Frequently asked questions

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.

What is the difference between QQQ and SPMO?

QQQ (Invesco QQQ Trust) tracks Nasdaq-100 Index with a growth approach, while SPMO (Invesco S&P 500 Momentum ETF) tracks S&P 500 Momentum Index with an index approach. They are issued by Invesco and Invesco respectively.

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.

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 $3.83 per month ($46.00 annually). The same in SPMO would produce about $5.67 per month ($68.00 annually).

Which has performed better historically, QQQ or SPMO?

QQQ has lagged SPMO over the trailing twelve months, posting a 23.97% total return against 27.79%. The picture flips over 10 years, though — QQQ has compounded at 20.88% a year, ahead of SPMO at 19.66%. 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 July 2026 from current fund data.

Overview

QQQ and SPMO are both large-cap U.S. equity ETFs tracking different indexes with different factor tilts. QQQ holds the 100 largest non-financial Nasdaq stocks—a broad tech and growth skew—while SPMO isolates the highest-momentum names within the broader S&P 500. The key distinction is breadth and style: QQQ is a cap-weighted megacap growth tracker, SPMO is a momentum-factor screen applied to a wider universe.

How they differ

The most significant difference is the underlying strategy. QQQ tracks the full Nasdaq-100 by market cap—so Apple, Microsoft, Nvidia, and Tesla dominate by weight—while SPMO selects the best-performing momentum stocks from the S&P 500, which tilts toward different leaders and includes financials that QQQ excludes entirely. That structural difference alone makes their holdings and performance profiles quite distinct.

Second, SPMO charges 0.13% in fees versus QQQ's 0.18%, a modest savings on a $20.3B fund versus QQQ's $481B behemoth. Both offer low yields of 0.45% and 0.65% respectively, befitting growth portfolios. Third, both carry elevated beta—QQQ at 1.23, SPMO at 1.29—signaling they will swing harder than the overall market. SPMO's slightly higher beta reflects the amplified volatility of chasing momentum, while QQQ's is driven by concentration in mega-cap tech.

Who each is best for

QQQ: Fits investors seeking pure-play exposure to the largest Nasdaq technology and growth companies with minimal factor overlay, low fees, and decades of track record in a highly liquid, enormous fund.

SPMO: Designed for investors who believe momentum-driven selection can outpace simple cap weighting and who are comfortable with a smaller fund and a more recent inception date in exchange for a different market exposure and slightly lower costs.

Key risks to know

  • Concentration in mega-cap tech (QQQ). The Nasdaq-100 is dominated by a handful of semiconductor, AI, and software giants. A drawdown in that group hits QQQ disproportionately hard. SPMO avoids this by design but carries its own concentration in whatever stocks have momentum now.
  • Momentum mean reversion (SPMO). Factors that work—like momentum—tend to go through extended periods of underperformance when sentiment shifts. SPMO's portfolio will churn as leaders cool and laggards rebound, potentially creating tax drag and turnover costs.
  • Beta amplification. Both funds have beta above 1.20, meaning they will fall harder in a broad market decline. In a 20% market drop, QQQ and SPMO could easily drop 25%+ before accounting for style-specific factors. Investors with near-term cash needs or low risk tolerance face meaningful drawdown risk.
  • Relative valuation. QQQ holds many high-valuation tech names priced for sustained growth. A rotation toward value or dividend stocks could weigh on QQQ's relative performance for years. SPMO is somewhat insulated by design but is also unproven through a full macro cycle.

Bottom line

QQQ suits investors drawn to broad Nasdaq-100 exposure at low cost with maximum liquidity and a 25-year history. SPMO appeals to those betting momentum selection can add value within a wider S&P 500 lens—but requires acceptance of factor timing risk and limited historical depth. Both carry elevated volatility, so neither functions as a defensive holding.

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

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