OriginaveQQQM vs SPHQ: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
QQQM
SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
VOOVanguard S&P 500 ETFtracks the S&P 500 Index
IVViShares Core S&P 500 ETFtracks the S&P 500 Index- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
SPHQ
- SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
- VOOVanguard S&P 500 ETFtracks the S&P 500 Index
- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
- SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index
- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
QQQM tracks the Nasdaq-100 IndexSPHQ tracks the S&P 500 Quality Index
What did the last 5 years do to $10,000?
You invest $10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted. Both funds are measured over the same 5 full years (2021–2025) — the longest stretch both were trading.
QQQM vs SPHQ, year by year
Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.
| Year | QQQM | SPHQ | Winner |
|---|---|---|---|
| 2026 (so far) | +20.88% | +12.92% | QQQM |
| 2025 | +20.85% | +13.25% | QQQM |
| 2024 | +25.68% | +25.44% | QQQM |
| 2023 | +55.01% | +24.83% | QQQM |
| 2022 | -32.52% | -15.76% | SPHQ |
| 2021 | +27.45% | +27.59% | SPHQ |
| 2020 | +6.67% | +16.93% | SPHQ |
| 2019 | — | +33.63% | — |
| 2018 | — | -7.09% | — |
| 2017 | — | +19.10% | — |
| 2016 | — | +14.30% | — |
| 2015 | — | +1.64% | — |
| 2014 | — | +16.08% | — |
| 2013 | — | +32.73% | — |
| 2012 | — | +14.32% | — |
| 2011 | — | +6.28% | — |
| 2010 | — | +20.50% | — |
| 2009 | — | +12.59% | — |
| 2008 | — | -46.35% | — |
| 2007 | — | +16.77% | — |
| 2006 | — | +4.58% | — |
| 2005 | — | -2.05% | — |
QQQM vs SPHQ in plain words
QQQM tracks the Nasdaq-100 Index while SPHQ follows the S&P 500 Quality Index, so they own different slices of the market and their years can look very different. Both funds charge 0.15% a year in running costs.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 7 calendar years both funds were trading, QQQM finished the year ahead 4 times and SPHQ 3 times. $10,000 invested at the start of 2021 was worth $20,250 in QQQM versus $19,060 in SPHQ by the end of 2025, dividends reinvested.
Fund facts: QQQM vs SPHQ
| Fact | QQQM | SPHQ |
|---|---|---|
| Fund | Invesco NASDAQ 100 ETF | Invesco S&P 500 Quality ETF |
| Tracks | Nasdaq-100 Index | S&P 500 Quality Index |
| Yearly cost (TER) | 0.15% | 0.15% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 13 Oct 2020 | 6 Dec 2005 |
| $10,000 invested | What $10,000 in QQQM became | What $10,000 in SPHQ became |
How bumpy the ride was: QQQM vs SPHQ
These head-to-head figures use only the 1,502 trading days both funds were listed: 13 Oct 2020 to 6 Oct 2026, roughly 6.0 years.
QQQM swung more than SPHQ: annualised volatility of 22.2% for QQQM against 16.3% for SPHQ, with QQQM moving 1% or more on 40.3% of trading days and SPHQ on 26.9%. Both had their worst day on 4 Apr 2025: QQQM closed -6.11% and SPHQ -5.90%.
QQQM had the deeper drawdown: it fell -35.04% from its peak on 19 Nov 2021 to a low on 3 Nov 2022, then closed back above the old peak on 12 Dec 2023, 13 months after the low; SPHQ fell -25.04% from its peak on 4 Jan 2022 to a low on 30 Sept 2022, then closed back above the old peak on 31 Jul 2023, 10 months after the low.
Day to day the two usually move together: the correlation of their daily returns is 0.88, and they closed in opposite directions on 18.9% of the 1,501 days measured. The widest single-day gap came on 9 Apr 2025, when QQQM moved +11.74% and SPHQ +8.25%.
| Measure | QQQM | SPHQ |
|---|---|---|
| Annualised volatility | 22.2% | 16.3% |
| Worst day | -6.11% on 4 Apr 2025 | -5.90% on 4 Apr 2025 |
| Best day | +11.74% on 9 Apr 2025 | +8.25% on 9 Apr 2025 |
| Days moving 1% or more | 40.3% of days | 26.9% of days |
| Deepest drawdown | -35.04% | -25.04% |
| Peak to trough | 19 Nov 2021 → 3 Nov 2022 | 4 Jan 2022 → 30 Sept 2022 |
| Back above the old peak | 12 Dec 2023 · 13 months | 31 Jul 2023 · 10 months |
Years QQQM and SPHQ parted ways
In 4 of the 6 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2023: QQQM returned +55.01% and SPHQ +24.83%, a gap of 30.2 points. They rose together in 5 years and fell together in 1 year.
| Year | QQQM | SPHQ | Gap (QQQM − SPHQ) |
|---|---|---|---|
| 2025 | +20.85% | +13.25% | +7.6 pts |
| 2023 | +55.01% | +24.83% | +30.2 pts |
| 2022 | -32.52% | -15.76% | -16.8 pts |
| 2020 | +6.67% | +16.93% | -10.3 pts |
How often QQQM beat SPHQ over any 12 months
Across the 60 rolling 12-month windows since October 2020, measured month-end to month-end, QQQM finished ahead in 61.7% of them (37) and SPHQ in 38.3% (23).
$200 a month into each, 2021–2025
Putting $200 into each fund at the start of every month from January 2021 to December 2025 (60 payments, $12,000 in total) would have grown to $19,699 in QQQM and $17,591 in SPHQ, leaving QQQM $2,108 ahead.
| Outcome | QQQM | SPHQ |
|---|---|---|
| Paid in | $12,000 | $12,000 |
| Value at the end of 2025 | $19,699 | $17,591 |
| Gain on the money paid in | +$7,699 | +$5,591 |
| Gain in % | +64.16% | +46.59% |
Each payment rides the return of the month it lands in, dividends reinvested. Only calendar years with all twelve months of data for both funds count, so the plan may start later than the shared history.
Frequently asked
Is QQQM or SPHQ better?
Across the 7 calendar years both funds were trading, QQQM finished the year ahead 4 times and SPHQ 3 times. $10,000 invested at the start of 2021 was worth $20,250 in QQQM versus $19,060 in SPHQ by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.
What is the difference between QQQM and SPHQ?
QQQM tracks the Nasdaq-100 Index while SPHQ follows the S&P 500 Quality Index, so they own different slices of the market and their years can look very different. Both funds charge 0.15% a year in running costs. Both funds distribute: dividends land in your account as cash instead of being reinvested automatically.
Which is more volatile, QQQM or SPHQ?
QQQM swung more than SPHQ: annualised volatility of 22.2% for QQQM against 16.3% for SPHQ, with QQQM moving 1% or more on 40.3% of trading days and SPHQ on 26.9%. Both had their worst day on 4 Apr 2025: QQQM closed -6.11% and SPHQ -5.90%.
Which had the deeper drawdown, QQQM or SPHQ?
QQQM had the deeper drawdown: it fell -35.04% from its peak on 19 Nov 2021 to a low on 3 Nov 2022, then closed back above the old peak on 12 Dec 2023, 13 months after the low; SPHQ fell -25.04% from its peak on 4 Jan 2022 to a low on 30 Sept 2022, then closed back above the old peak on 31 Jul 2023, 10 months after the low.
How often did QQQM beat SPHQ over a 12-month period?
Across the 60 rolling 12-month windows since October 2020, measured month-end to month-end, QQQM finished ahead in 61.7% of them (37) and SPHQ in 38.3% (23).
What would $10,000 in QQQM have become?
$10,000 invested in QQQM at the start of 2021 grew to $20,250 by the end of 2025, with dividends reinvested — an average of 15.2% per year.
Related comparisons
More head-to-heads featuring QQQM or SPHQ.
Source: Yahoo Finance daily adjusted closes for the US primary listings, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.