Compare/Updated Oct 26, 2026, refreshed every trading day
SPYM vs QQQM
State Street SPDR Portfolio S&P 500 ETF against Invesco NASDAQ 100 ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
QQQM did better over the period: $1,000 invested on October 28, 2022 grew to $2,572, versus $2,064 for SPYM, a difference of $508. QQQM also led over three years, with a 97.5% return versus 83.7%, and had stronger one-year and YTD returns. The outperformance came with materially higher risk: QQQM’s 12-month volatility was 19.9% versus SPYM’s 12.7%, and its worst drawdown was -22.7% versus -18.7%. QQQM also had a higher expense ratio, 0.15% versus 0.02%, while SPYM offered broader, less volatile exposure. Their daily moves were highly correlated at 0.944, but SPYM moved only 0.69% for each 1% move in QQQM. Thus, QQQM delivered superior growth, while SPYM provided a lower-risk, lower-cost alternative.
- Price is above its 200-day average ($85); 50-day at $90.
- RSI 42, neutral. Supertrend says sell. ADX 15, so the trend is weak.
- Price is above its 200-day average ($278); 50-day at $299.
- RSI 37, neutral. Supertrend says sell. ADX 25, so the trend is developing.
Head to head
Which has returned more, SPYM or QQQM?
SPYM beat QQQM in 20 of the last 48 months; QQQM won the other 28. The typical monthly gap was 1.39 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.944
- correlation of daily moves, 4 years
- 0.69
- SPYM move per 1% in QQQM
- 0.924
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 1.39 points.
When did they diverge?
| Month | SPYM | QQQM | Gap |
|---|---|---|---|
| May 2023 | +0.5% | +7.8% | -7.35 pts |
| July 2026 | +0.0% | -6.5% | +6.52 pts |
| March 2023 | +3.7% | +9.5% | -5.77 pts |
| May 2026 | +5.3% | +10.6% | -5.25 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
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