Data as of Sep 4, 2026. Both funds on the fields they both publish, from the same sources.
QQQ vs SPY
Invesco QQQ Trust and SPDR S&P 500 ETF Trust.
What they hold in common
By the books each fund has filed, QQQ and SPY hold 53% of their money in the same securities at the same weight.
| Holding | QQQ | SPY |
|---|---|---|
| NVIDIA Corp. | 8.16% | 7.52% |
| Apple Inc. | 7.29% | 6.59% |
| Microsoft Corp. | 5.32% | 4.30% |
| Amazon.com, Inc. | 4.62% | 3.62% |
| Alphabet Inc. | 3.52% | 3.25% |
| Broadcom Inc. | 3.37% | 2.77% |
| Alphabet Inc. | 3.26% | 2.59% |
| Micron Technology, Inc. | 4.80% | 2.02% |
| Meta Platforms, Inc. | 2.97% | 1.92% |
| Tesla, Inc. | 3.46% | 1.84% |
| Advanced Micro Devices, Inc. | 3.70% | 1.47% |
| Intel Corp. | 2.52% | 1.02% |
| Only in QQQ | Only in SPY |
|---|---|
| Linde PLC 1.01% | Eli Lilly & Co. 1.47% |
| Seagate Technology Holdings PLC 0.84% | Berkshire Hathaway, Inc. 1.42% |
| Honeywell International Inc. 0.66% | JPMorgan Chase & Co. 1.36% |
| Shopify Inc. 0.64% | Johnson & Johnson 0.95% |
| ASML Holding N.V. 0.62% | Visa, Inc. 0.88% |
| MercadoLibre, Inc. 0.38% | Exxon Mobil Corp. 0.88% |
| NXP Semiconductors N.V. 0.36% | Caterpillar, Inc. 0.76% |
| PDD Holdings Inc. 0.25% | AbbVie, Inc. 0.69% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Jun 30, 2026 and May 31, 2026.
| QQQ Invesco QQQ Trust | SPY SPDR S&P 500 ETF Trust | |
|---|---|---|
| Where it sits | Core fund | Core fund |
| Issuer | Invesco | State Street |
| What it is | Nasdaq-100, book from QQQM | S&P 500, book from IVV |
| Total return, 1 year | +25.6% | +20.0% |
| S&P 500 over the same days | +20.0% | +20.0% |
| Gap to the S&P 500 | +5.6 pts | +0.0 pts |
| Expense ratio | 0.18% | not published |
| Already in the S&P 500 | 96.7% | 100.0% |
| Holdings | 101 | 504 |
QQQ in plain words
QQQ is a index equity fund tracking Nasdaq-100, book from QQQM. Over the year to Sep 4, 2026 it returned +25.6% with distributions reinvested, against +20.0% for the S&P 500 and +25.6% for the Nasdaq-100. The prospectus expense ratio is 0.18% a year. By its holdings filed for May 31, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 101 positions, with the top ten at 47.5%. It sat 3.5% below its high of Jun 2, 2026 on Sep 4, 2026.
SPY in plain words
SPY is a index equity fund tracking S&P 500, book from IVV. Over the year to Sep 4, 2026 it returned +20.0% with distributions reinvested, against +20.0% for the S&P 500 and +25.6% for the Nasdaq-100. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.
Questions people ask
- Which returned more over the last year, QQQ or SPY?
- In the year to Sep 4, 2026, with distributions reinvested, QQQ returned +25.6% and SPY returned +20.0%, so QQQ returned more. One year is one year; the longer windows are in the table.
- How much do QQQ and SPY overlap with the S&P 500?
- By their latest filed holdings, 97% of QQQ and 100% of SPY by weight is stocks the S&P 500 already holds. Between the two funds, 53% of their books are the same securities at the same weight.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, QQQ against SPY, data as of Sep 4, 2026. https://etfiq.com/compare/any/QQQ-SPY.html Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources