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ETF Comparison

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

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

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • QQQInvestors who want Nasdaq-100 exposure and can accept a more concentrated book.
  • SPYMInvestors who want broader S&P 500 exposure and lower measured market sensitivity.

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. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

QQQ has outpaced SPYM over the trailing twelve months, posting a 24.14% total return against 16.23%. The lead holds up over 10 years too: QQQ has compounded at 21.00% a year, against 15.38% for SPYM. SPYM has been the steadier holding, though — annualized volatility of 14.9% against 20.4% 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.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Nov 2005Volatility Sharpe Sortino Max drawdown
QQQ21.07%24.14%27.75%16.22%21.00%15.81%20.4%0.991.43-22.8%
SPYM12.54%16.23%22.91%13.50%15.38%11.23%14.9%1.091.58-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Nov 2005” measures every fund from November 15, 2005 — 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.
MetricQQQSPYM
Full nameInvesco QQQ TrustState Street SPDR Portfolio S&P 500 ETF
IssuerInvescoState Street
Underlying indexNasdaq-100 IndexS&P 500 Index
Last Close$739.77 as of September 30, 2026$89.76 as of September 30, 2026
Distribution rate0.41%1.07%
Trailing 12-month yield0.42%1.01%
Distribution Safety Score™ 97100
Safety-Adjusted Yield 0.40%1.07%
Expense ratio0.18%0.02%
AUM$501B$176B
Distribution frequencyQuarterlyQuarterly
ObjectiveTrack the Nasdaq-100 Index, which includes 100 of the largest non-financial Nasdaq stocks.Tracks the S&P 500 Index, providing broad U.S. large-cap equity exposure at a low cost.
Asset classEquityEquity
Inception date03/10/199911/08/2005
Beta1.261.0
Last dividend$0.75143 declared, pays 10/08/2026$0.239
Ex-dividend date09/21/202609/11/2026

Bottom lineChoose QQQ if you want Nasdaq-100 exposure and can accept a more concentrated book. Choose SPYM if you want broader S&P 500 exposure and lower measured market sensitivity.

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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$1013B

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.

See all Invesco ETFs
State Street
ETFs179
Total AUM$2148B

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

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPYM.

See all State Street ETFs

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Quick verdict

QQQ (Invesco QQQ Trust) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SPYM offers the higher yield at 1.07% vs 0.41% for QQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SPYM is cheaper with an expense ratio of 0.02% compared to 0.18%.

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

QQQ is the larger fund by assets ($501B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose QQQ

Invesco QQQ Trust

  • Want Nasdaq-100 exposure — fewer names, heavier technology weight, and typically a higher current distribution.
  • Want a growth tilt and can accept larger swings for more upside.

Choose SPYM

State Street SPDR Portfolio S&P 500 ETF

  • Want broader S&P 500 exposure — more sectors, less mega-cap concentration, and typically lower beta.
  • Want higher current income — SPYM yields 1.07% vs 0.41% for QQQ.
  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.02% expense ratio vs 0.18% for QQQ.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, QQQ would generate roughly $10.25 cash per distribution, while SPYM would produce $26.75 cash per distribution, at current distribution rates. Both pay quarterly distributions.

QQQ yield0.41%
SPYM yield1.07%
Cash diff on $10K$16.50

Cost & efficiency

Over 10 years on $10,000, QQQ would cost approximately $180 in fees vs $20 for SPYM (simplified, not compounded). The $160.00 difference may be offset by yield or performance.

QQQ ER0.18%
SPYM ER0.02%

Strategy & risk

QQQ tracks Nasdaq-100 Index with a growth approach, while SPYM tracks S&P 500 Index with a large cap approach. Beta is 1.26 for QQQ and 1.0 for SPYM, making SPYM the less volatile of the two by this measure.

QQQ beta1.26
SPYM beta1.0

Fund details

QQQ is managed by Invesco (launched 03/10/1999) with $501B in assets. SPYM is managed by State Street (launched 11/08/2005) with $176B in assets.

QQQ AUM$501B
SPYM AUM$176B
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Frequently asked questions

Is SPLG the same as SPYM?

Yes — same fund, new ticker. State Street renamed the State Street SPDR Portfolio S&P 500 ETF from SPLG to SPYM; the strategy and holdings carried over unchanged, and existing shareholders kept their position under the new symbol. So results for "SPLG" are answered by SPYM's numbers: 1.07% distribution yield at a 0.02% expense ratio, with $176B in assets as of September 2026.

What is the current distribution rate for QQQ and SPYM?

QQQ currently distributes 0.41% and SPYM 1.07%, 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 SPYM better for dividend income?

It depends on your goals. SPYM 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 SPYM?

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 SPYM safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPYM scores 100, QQQ scores 97, so SPYM's payout currently looks the more resilient of the two. SPYM has also shown lower price volatility (beta 1.00 vs 1.26 for QQQ). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, QQQ or SPYM?

QQQ has an expense ratio of 0.18% while SPYM charges 0.02%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in QQQ would generate roughly $10.25 cash per distribution ($41.00 annually). The same in SPYM would produce about $26.75 cash per distribution ($107.00 annually).

Which has performed better historically, QQQ or SPYM?

QQQ has outpaced SPYM over the trailing twelve months, posting a 24.14% total return against 16.23%. The lead holds up over 10 years too: QQQ has compounded at 21.00% a year, against 15.38% for SPYM. SPYM has been the steadier holding, though — annualized volatility of 14.9% against 20.4% 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 SPYM — at a glance

Generated September 26, 2026.

companies across all sectors). The core distinction is sector tilt: QQQ is a concentrated, growth-focused exposure to tech and innovation; SPYM is a broad, economically representative portfolio. QQQ has roughly $501B in assets versus $176B for SPYM, reflecting their different investor bases and strategic roles in most portfolios.

How they differ

The first and biggest difference is composition and concentration. QQQ's 100 holdings are weighted heavily toward technology, consumer discretionary, and communication services, while SPYM's 500 holdings span all sectors—financials, healthcare, energy, utilities, industrials—giving it far less sector concentration. QQQ's 1.26 beta versus SPYM's 1.0 beta confirms this: QQQ amplifies broad market moves, while SPYM moves in line with the overall market. Second, yield tells a story about growth versus dividend maturity: SPYM yields 1.07% while QQQ yields 0.41%, reflecting the S&P 500's heavier weighting toward dividend-paying mature companies. Third, cost is nearly trivial for both—0.18% versus 0.02%—but SPYM's advantage there is overshadowed by the strategic exposure difference.

Who each is best for

QQQ: Fits investors with a long time horizon and tolerance for above-market volatility who want concentrated exposure to large-cap growth and technology innovation. Designed for those building a growth tilt or as a satellite holding alongside broader market exposure.

SPYM: Fits investors seeking low-cost, diversified large-cap U.S. equity exposure across all sectors with closer alignment to the overall market. Designed for a core holding in a buy-and-hold portfolio or as a broad foundational U.S. equity layer.

Key risks to know

  • Concentration in technology and growth: QQQ's underweight of financials, healthcare, and industrials means it can significantly underperform during periods when those sectors lead or when growth de-rates sharply relative to value. SPYM's sector diversification mitigates single-sector drawdowns.
  • Beta mismatch during market dislocations: QQQ's 1.26 beta means it typically falls harder in bear markets and rises faster in bull markets. Investors seeking a steady, market-representative decline should expect a steeper drawdown with QQQ.
  • Overlap in mega-cap holdings: Both funds hold the same large technology companies (Apple, Microsoft, Nvidia, Tesla, etc.) within their respective indices, so correlation during tech selloffs or rallies is high despite their strategic differences.
  • Low dividend yield leaves less margin of safety: QQQ's 0.41% yield provides minimal cash return, concentrating returns on price appreciation. Extended periods of flat or negative growth could pressure total returns.

Bottom line

QQQ is a growth-focused bet on technology and innovation with above-market volatility; SPYM is a broad, economically balanced U.S. portfolio moving with the overall market. If you prioritize capturing upside from tech and growth, QQQ's concentration and higher beta align with that goal; if you want a stable, diversified core U.S. holding with broader sector representation, SPYM's lower costs and market-beta profile fit that role. Past performance does not guarantee 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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These comparisons follow the Dividend Vision methodology.