QQQM vs SPYM: Grades, Fees and Holdings Compared

Invesco NASDAQ 100 ETF

QQQMANasdaq

State Street SPDR Portfolio S&P 500 ETF

SPYMANYSE Arca

Overlap

54.0%by weight

QQQMNasdaq-100 IndexSPYMS&P 500 Index

Expense ratio

SPYM −0.13pt a year

QQQM0.15%SPYM0.02%

Avg volume · 30D

SPYM 4.0×the volume

QQQM3.01MSPYM12.1M

5Y return · a year

QQQM +1.7pt

QQQM+14.3%SPYM+12.6%

QQQM vs SPYM Performance

Oct 28, 2021 – Oct 28, 2026

+95.2%QQQM+80.7%SPYM

Expense ratio: QQQM 0.15%; SPYM 0.02%, better
Fund size: QQQM $109B; SPYM $183B
1Y total return: QQQM +15.2%, better; SPYM +13.7%
Yield (12M): QQQM 0.44%; SPYM 1.00%, better
Holdings: QQQM 105; SPYM 508
Avg volume (30D): QQQM 3.01M sh; SPYM 12.1M sh, better
NAV per share: QQQM $293.18; SPYM $90.06
52W range

ETF.net Grade

Pillar letters and Scores for QQQM, SPYM, with each pillar’s weight
Pillar	QQQM	SPYM
Cost30% weight	A74	A99
Mission25% weight	A100	A100
Risk15% weight	C49	C51
Tradability15% weight	A88	A72
Holdings10% weight	B61	B57
Durability5% weight	A76	A79

Where each fund ranks

How we build Categories ›

Different Categories. Their Grades do not compare head to head.

Nasdaq-100⁠

Category · 10 funds

See all 10 ›

QQQM ranks 1st of 10 funds in the Nasdaq-100 Category.

Rank 1AQQQMInvesco NASDAQ 100 ETFScore 77
Rank 2AQQQInvesco QQQ Trust, Series 1Score 75

S&P 500⁠

Category · 14 funds

See all 14 ›

SPYM ranks 1st of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79

Our read on each fund

ETF.net Research

QQQMAInvesco NASDAQ 100 ETF

SPYMAState Street SPDR Portfolio S&P 500 ETF

In short

QQQM The Nasdaq-100 in a thriftier wrapper. Launched in 2020, QQQM holds the same index as Invesco's famous original and charges 0.15% a year instead of 0.18%, built for people who buy and sit rather than trade.

SPYM State Street's budget-priced S&P 500 tracker: the same 500 large caps as its famous sibling, for 0.02% a year, the lowest fee in its S&P 500 peer group. Running since 2005 and now one of the category's giants.

Stated mandate

QQQM The Fund seeks to track the performance of the NASDAQ-100 Index before fees and expenses by generally investing at least 90% of its assets in index securities.

SPYM The fund seeks to track the total return of the S&P 500 Index before fees and expenses, providing broad exposure to U.S. large-cap equities.

Why people hold it

QQQM Same NASDAQ-100 index as Invesco's original fund, for 0.15% instead of 0.18%. Identical mandate, smaller toll.invesco.com
Undercuts the typical Nasdaq-100 wrapper (cohort median 0.20%) and costs well under half the equal-weight version, QQQE, at 0.35%.
The mandate is literal: at least 90% of assets in index securities, tracking about 100 of the largest Nasdaq-listed non-financial companies.nasdaq.com
A multi-billion-dollar, actively traded fund and one of the stronger implementations in its Nasdaq-100 peer group.

SPYM 0.02% a year, the cheapest fee in its S&P 500 cohort, against a 0.15% median for the group. Two dollars a year per $10,000 invested.
Same S&P 500 index as State Street's flagship SPY (0.09%), for a fraction of the fee, and a basis point under VOO and IVV.
Tracks the index tightly: gaps between fund and benchmark are among the smallest in its peer group, which is the whole job of an index wrapper.
Live since 2005, now one of the largest and most heavily traded funds in the category. Distributions land quarterly.

Worth knowing

QQQM The index excludes financial companies and requires a Nasdaq listing, so whole slices of the US market never show up here.nasdaq.com
Modified market-cap weighting means the biggest names carry the biggest weights, so a short list of mega-caps drives most of the ride.nasdaq.com
Distributions land quarterly, and the index selects on size, not dividends.nasdaq.com

SPYM The S&P 500 is cap-weighted, so the biggest US companies drive most of the move. Equal-weight takes on the same index (RSP) spread that bet differently.
About 500 US large caps and nothing else: no mid caps, no small caps, no international.
The fee edge over VOO and IVV is one basis point. Same index, so trading costs and platform access matter as much as the sticker fee.

Full QQQM profile⁠

Full SPYM profile⁠

QQQM vs SPYM Holdings

Holdings as of Oct 28, 2026 for QQQM and Oct 27, 2026 for SPYM

How QQQM and SPYM differ

Overlap by weight

54.0%

Shared holdings make up 93.0% of QQQM and 54.0% of SPYM.

Level by level

Holdings86 in both54.0%
Sector11 Sectors73.8%
Countryby domicile96.2%
Asset classEquity100%

Sector

Sector weights in QQQM and SPYM, widest gap first
Sector	More in QQQMMore in SPYM	QQQM	SPYM
Technology	QQQM +21.0 points	58.6%	37.6%
Financials	SPYM +11.8 points	0.3%	12.1%
Health Care	SPYM +5.5 points	4.4%	9.9%
Energy	SPYM +3.2 points	0.5%	3.7%
Communication	QQQM +2.4 points	11.6%	9.2%
Industrials	SPYM +2.2 points	5.8%	8.0%
Real Estate	SPYM +1.8 points	0.0%	1.8%
Consumer Discretionary	QQQM +1.5 points	10.5%	9.0%
Consumer Staples	QQQM +1.3 points	6.3%	5.0%
Utilities	SPYM +0.9 points	1.1%	2.0%
Materials	SPYM +0.7 points	1.0%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in QQQM and SPYM, widest gap first
Country	More in QQQMMore in SPYM	QQQM	SPYM
United States	SPYM +2.2 points	95.4%	97.6%
United Kingdom	QQQM +1.3 points	1.7%	0.4%
Netherlands	QQQM +1.1 points	1.2%	0.1%
Canada	QQQM +1.1 points	1.1%	0.0%
Ireland	SPYM +1.0 points	0.2%	1.2%
Other countries (4)	SPYM +0.2 points	0.4%	0.6%

Concentration

Weight in the 10 largest Holdings

QQQM46.7%
SPYM37.9%

Securities held

QQQM102
SPYM506

Asset class

QQQM: Equity
SPYM: Equity

Holdings

Only in QQQM16
In both86
Only in SPYM420

Only in QQQM

16 securities, 7.0% of QQQM by weight

Space Exploration Technologies Corp2.74%
Shopify Inc0.86%
ASML Holding NV0.66%
ARM Holdings PLC0.42%
MercadoLibre Inc0.37%
PDD Holdings Inc0.22%
Strategy Inc0.22%
Astera Labs Inc0.21%
Coca-Cola Europacific Partners PLC0.21%
Thomson Reuters Corp0.19%
Nebius Group NV0.17%
Ferrovial NV0.17%
Rocket Lab Corp0.15%
Alnylam Pharmaceuticals Inc0.13%
Invesco Government & Agency Portfolio0.12%
CoreWeave Inc0.12%

Only in SPYM

420 securities, 45.9% of SPYM by weight

Eli Lilly & Co1.55%
Berkshire Hathaway Inc Class B1.54%
JPMorgan Chase & Co1.34%
Exxonmobil Holdings Corp1.15%
Visa Inc Class A Shares1.04%
Johnson & Johnson0.97%
AbbVie Inc0.77%
Mastercard Inc A0.75%
Chevron Corp0.69%
Procter & Gamble Co/The0.56%
UnitedHealth Group Inc0.56%
Coca Cola Co/The0.54%
Merck & Co. Inc.0.52%
Bank of America Corp0.50%
Home Depot Inc0.48%
Caterpillar Inc0.48%
Philip Morris International0.48%
General Electric0.45%
Rtx Corp0.40%
Goldman Sachs Group Inc0.39%
Thermo Fisher Scientific Inc0.38%
Wells Fargo & Co0.38%
Intl Business Machines Corp0.36%
Ge Vernova Inc0.34%
Morgan Stanley0.33%
Oracle Corp0.33%
Citigroup Inc0.31%
Salesforce Inc0.31%
Walt Disney Co/The0.29%
Amphenol Corp Class A0.28%
Arista Networks Inc0.28%
Conocophillips0.27%
Abbott Laboratories0.27%
Verizon Communications Inc0.27%
McDonald’s Corp0.27%
Union Pacific Corp0.27%
Welltower Inc0.26%
Nextera Energy Inc0.26%
Pfizer Inc0.26%
American Express Co0.25%
Servicenow Inc0.25%
BlackRock Inc0.25%
Deere & Co0.24%
Tjx Companies Inc0.24%
Accenture PLC Class A0.23%
Boeing Co/The0.22%
Schwab (Charles) Corp0.22%
Danaher Corp0.22%
Eaton Corp PLC0.22%
At+t Inc0.22%

Weight gaps

All 86 Holdings in both funds, largest gap first.

Holding weights in QQQM and SPYM, widest gap first
Holding	More in QQQMMore in SPYM	QQQM	SPYM
Micron Technology IncMU	QQQM +2.96 points	4.50%	1.54%
Advanced Micro Devices IncAMD	QQQM +2.62 points	3.93%	1.31%
Walmart IncWMT	QQQM +1.68 points	2.49%	0.81%
Tesla IncTSLA	QQQM +1.66 points	3.33%	1.67%
Intel CorpINTC	QQQM +1.44 points	2.12%	0.68%
Palantir Technologies IncPLTR	QQQM +1.27 points	1.96%	0.69%
Cisco Systems IncCSCO	QQQM +1.23 points	1.89%	0.66%
Costco Wholesale CorpCOST	QQQM +1.22 points	1.89%	0.67%
Palo Alto Networks IncPANW	QQQM +0.93 points	1.41%	0.48%
Applied Materials IncAMAT	QQQM +0.88 points	1.35%	0.47%
Lam Research CorpLRCX	QQQM +0.84 points	1.29%	0.45%
Texas Instruments IncTXN	QQQM +0.80 points	1.21%	0.41%
Crowdstrike Holdings IncCRWD	QQQM +0.78 points	1.18%	0.40%
Meta Platforms IncMETA	QQQM +0.77 points	2.87%	2.10%
Netflix IncNFLX	QQQM +0.72 points	1.12%	0.40%
Amgen IncAMGN	QQQM +0.68 points	1.04%	0.36%
Linde PLCLIN	QQQM +0.66 points	1.01%	0.35%
Marvell Technology IncMRVL	QQQM +0.61 points	0.92%	0.31%
Analog Devices IncADI	QQQM +0.59 points	0.89%	0.30%
T-Mobile US IncTMUS	QQQM +0.57 points	0.68%	0.11%
KLA CorpKLAC	QQQM +0.57 points	0.86%	0.29%
Amazon.com IncAMZN	QQQM +0.56 points	4.25%	3.69%
Gilead Sciences IncGILD	QQQM +0.55 points	0.85%	0.30%
Sandisk CorpSNDK	QQQM +0.54 points	0.82%	0.28%
QUALCOMM IncQCOM	QQQM +0.54 points	0.83%	0.29%
PepsiCo IncPEP	QQQM +0.50 points	0.78%	0.28%
Alphabet IncGOOG	QQQM +0.46 points	2.72%	2.26%
Intuitive Surgical IncISRG	QQQM +0.44 points	0.68%	0.24%
Seagate Technology Holdings PLCSTX	QQQM +0.43 points	0.65%	0.22%
Fortinet IncFTNT	QQQM +0.41 points	0.58%	0.17%
Western Digital CorpWDC	QQQM +0.40 points	0.59%	0.19%
Vertex Pharmaceuticals IncVRTX	QQQM +0.37 points	0.57%	0.20%
Starbucks CorpSBUX	QQQM +0.32 points	0.50%	0.18%
Automatic Data Processing IncADP	QQQM +0.32 points	0.50%	0.18%
Booking Holdings IncBKNG	QQQM +0.31 points	0.48%	0.17%
Marriott International Inc/MDMAR	QQQM +0.31 points	0.44%	0.13%
Apple IncAAPL	QQQM +0.30 points	7.88%	7.58%
Monster Beverage CorpMNST	QQQM +0.28 points	0.38%	0.10%
CSX CorpCSX	QQQM +0.28 points	0.42%	0.14%
Cadence Design Systems IncCDNS	QQQM +0.28 points	0.41%	0.13%
NVIDIA CorpNVDA	QQQM +0.27 points	8.17%	7.90%
Adobe IncADBE	QQQM +0.26 points	0.42%	0.16%
Constellation Energy CorpCEG	QQQM +0.26 points	0.39%	0.13%
Datadog IncDDOG	QQQM +0.26 points	0.40%	0.14%
Synopsys IncSNPS	QQQM +0.26 points	0.39%	0.13%
Cintas CorpCTAS	QQQM +0.25 points	0.37%	0.12%
Intuit IncINTU	QQQM +0.25 points	0.39%	0.14%
Moderna IncMRNA	QQQM +0.25 points	0.36%	0.11%
AppLovin CorpAPP	QQQM +0.23 points	0.34%	0.11%
Regeneron Pharmaceuticals IncREGN	QQQM +0.23 points	0.35%	0.12%
Lumentum Holdings IncLITE	QQQM +0.22 points	0.33%	0.11%
Mondelez International IncMDLZ	QQQM +0.22 points	0.34%	0.12%
Comcast CorpCMCSA	QQQM +0.21 points	0.33%	0.12%
DoorDash IncDASH	QQQM +0.20 points	0.30%	0.10%
Ross Stores IncROST	QQQM +0.21 points	0.32%	0.11%
O'Reilly Automotive IncORLY	QQQM +0.20 points	0.31%	0.11%
American Electric Power Co IncAEP	QQQM +0.19 points	0.30%	0.11%
Airbnb IncABNB	QQQM +0.19 points	0.30%	0.11%
Honeywell International IncHON	QQQM +0.19 points	0.30%	0.11%
Diamondback Energy IncFANG	QQQM +0.19 points	0.25%	0.06%
NXP Semiconductors NVNXPI	QQQM +0.18 points	0.27%	0.09%
Monolithic Power Systems IncMPWR	QQQM +0.17 points	0.26%	0.09%
Baker Hughes CoBKR	QQQM +0.17 points	0.25%	0.08%
Broadcom IncAVGO	QQQM +0.16 points	2.53%	2.37%
Fastenal CoFAST	QQQM +0.16 points	0.25%	0.09%
Microsoft CorpMSFT	QQQM +0.16 points	6.14%	5.98%
PACCAR IncPCAR	QQQM +0.15 points	0.23%	0.08%
Honeywell Aerospace IncHONA	QQQM +0.15 points	0.23%	0.08%
Teradyne IncTER	QQQM +0.15 points	0.22%	0.07%
Autodesk IncADSK	QQQM +0.14 points	0.22%	0.08%
Xcel Energy IncXEL	QQQM +0.14 points	0.21%	0.07%
PayPal Holdings IncPYPL	QQQM +0.14 points	0.21%	0.07%
Keurig Dr Pepper IncKDP	QQQM +0.13 points	0.20%	0.07%
Exelon CorpEXC	QQQM +0.13 points	0.20%	0.07%
Microchip Technology IncMCHP	QQQM +0.13 points	0.19%	0.06%
IDEXX Laboratories IncIDXX	QQQM +0.12 points	0.19%	0.07%
Roper Technologies IncROP	QQQM +0.11 points	0.18%	0.07%
Alphabet IncGOOGL	QQQM +0.12 points	2.93%	2.81%
Old Dominion Freight Line IncODFL	QQQM +0.12 points	0.17%	0.05%
Paychex IncPAYX	QQQM +0.11 points	0.17%	0.06%
Workday IncWDAY	QQQM +0.11 points	0.17%	0.06%
Take-Two Interactive Software IncTTWO	QQQM +0.11 points	0.16%	0.05%
Axon Enterprise IncAXON	QQQM +0.10 points	0.15%	0.05%
GE HealthCare Technologies IncGEHC	QQQM +0.09 points	0.14%	0.05%
Dexcom IncDXCM	QQQM +0.09 points	0.13%	0.04%
Copart IncCPRT	QQQM +0.07 points	0.11%	0.04%

All 103 QQQM holdings⁠All 505 SPYM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

QQQM vs SPYM Cost

Overpaying QQQM vs SPYM

$2,711

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

QQQM 0.15%
$3,137
SPYM 0.02%
$426

Amount$10,000

Years30 years

Cost over time

QQQM 0.15%
SPYM 0.02%
Overpaying

Year by year

Year	QQQM	SPYM	Overpaying
10	$274	$37	$237
20	$1,071	$144	$927
30	$3,137	$426	$2,711

Expense ratio

0.15%QQQM
0.02%SPYM, cheaper

Different Categories, so each fee sits in its own Category’s range.

QQQM among 10 Nasdaq-100 funds

QQQM0.15%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

QQQM 3rd cheapest of 10 funds

SPYM among 14 S&P 500 funds

SPYM0.02%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

SPYM cheapest of 14 funds

QQQM vs SPYM Dividends

Last 12 months to Oct 28, 2026

Yield (12M): QQQM 0.44%; SPYM 1.00%, better
Payout (12M): QQQM $1.32; SPYM $0.91
Last payment: QQQM $0.31; SPYM $0.24
Ex-dividend: QQQM Sep 21, 2026; SPYM Sep 11, 2026
Paid on: QQQM Sep 25, 2026; SPYM Sep 15, 2026
Frequency: QQQM Quarterly; SPYM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QQQMQuarterly · 24 paymentsAll QQQM payments⁠

SPYMQuarterly · 39 paymentsAll SPYM payments⁠

QQQM vs SPYM Risk

Fall from peak · 5 years

QQQM
SPYM

Risk facts

VolatilityStd dev, 3 years: QQQM 17.2%SPYM 12.4%, better
Return per unit of riskSharpe ratio, 3 years: QQQM 1.27SPYM 1.37, better
Worst fallMax drawdown, 5 years: QQQM −35.0%SPYM −24.5%, better
Market sensitivityBeta, 5 years: QQQM 1.23SPYM 1.01; Market = 1

QQQM and SPYM in the news

All news⁠

New ETFs
Liquid Strategies' new Nasdaq income ETF is selling S&P 500 puts
Oct 27, 2026QQQM
Deep Dive
SpaceX more than doubles its Nadaq-100 weighting as post-IPO lockups expire
Oct 23, 2026QQQM
Head-to-Head
New money goes to QQQM. A taxable QQQ holding can stay.
Oct 23, 2026QQQM
Head-to-Head
SPYM leads IWF by 9.4 percentage points in 2026. They are not the same bet
Oct 21, 2026SPYM
Deep Dive
SPY trailed the S&P 500 by 0.14 percentage points over the past year, more than triple the gap at cheaper rivals
Oct 13, 2026SPYM
Head-to-Head
Own the Invesco NASDAQ 100 ETF rather than Invesco QQQ Trust, Series 1, unless you trade options
Oct 13, 2026QQQM

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