Are QQQ and QSPT in the same category?

QQQ is a stock ETF and QSPT is a buffer ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, QQQ or QSPT?

In the year to Oct 28, 2026, with distributions reinvested, QQQ returned +15.2% and QSPT +13.7%.

Which is cheaper, QQQ or QSPT?

QQQ is cheaper, by 0.72 percentage points a year. That is about $72 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

QQQ vs QSPT: Differences, Returns & Fees

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Over the year to Oct 28, 2026, QQQ returned +15.2% to QSPT's +13.7%, and QQQ charges 0.18% to QSPT's 0.90%.

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Net assets on Oct 27, 2026: $483.0bn for Invesco QQQ Trust, Series 1 and $729m for FT Vest Nasdaq-100 Buffer ETF - September.

QQQ on its own →QSPT on its own →

At a glance

+15.2%

QQQ total return, 1 year

+13.7%

QSPT total return, 1 year

0.18%

QQQ expense ratio

0.90%

QSPT expense ratio

Pair scorecard

QQQ costs 0.72 points a year less; their one-year returns differ by 1.5 points; QQQ is far larger, $483.0bn against $729m.

QQQ vs QSPT: Differences, Returns & Fees
Measure	QQQ	QSPT
Return
Measure	QQQ	QSPT
Total return, 1 year	+15.2%	+13.7%
Drawdown
Measure	QQQ	QSPT
Below its high	4.5%, high on Oct 6, 2026
Index fall to the buffer		0.6%
Fund price fall to the buffer		1.7%
Benchmark
Measure	QQQ	QSPT
What it tracks	Nasdaq-100 Index	QQQ
The outcome period
Measure	QQQ	QSPT
Room to the cap		20.0%
Buffer left, in index points		10.0% of 10.0%
Days left in the period		324
Period ends		Sep 17, 2027
Cost and size
Measure	QQQ	QSPT
Expense ratio	0.18%	0.90%
Net assets, as of Oct 27, 2026	$483.0bn	$729m
Holdings
Measure	QQQ	QSPT
Holdings in common	not published
In the S&P 500, by weight	96%
Top ten holdings, share of the fund	46.7%

Method

Risk and return

Oct 1, 2021 to Oct 23, 2026 · 264 weekly returns

QQQ QSPT

Return

Total return edge QQQ +101.5% +79.7%

Annualized edge QQQ +14.8% +12.2%

Price return edge QQQ +95.6% +79.7%

Risk

Volatility edge QSPT 21.5% 13.6%

Max drawdown edge QSPT −35.1% −22.5%

Downside capture 100.2% 70.0%

Beta 1.00 0.61

Risk-adjusted

Sharpe edge QSPT (slight) 0.57 0.63

Sortino edge QSPT 0.86 0.96

Treynor 0.145 0.142

Calmar edge QSPT 0.42 0.54

Against the benchmark

Alpha −0.1% a year +1.2% a year

Alpha t-stat −0.58 0.67

Information ratio −0.10 −0.39

Tracking error 0.4% 9.3%

Each against its own benchmark: QQQ against QQQM, Oct 23, 2020 to Oct 23, 2026; QSPT against QQQ, Oct 1, 2021 to Oct 23, 2026.

Reading

QQQ returned more: +101.5% to +79.7%. QSPT swung less: 13.6% to 21.5%. QSPT fell less at its worst: −22.5% to −35.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: QQQ vs QSPT: Differences, Returns & Fees
Measure	QQQ	QSPT	Edge	How it is measured
Return
Total return	+101.5%	+79.7%	QQQ	Price change plus distributions, reinvested.
Annualized	+14.8%	+12.2%	QQQ	Total return as a yearly rate.
Price return	+95.6%	+79.7%	QQQ	Price change alone, distributions left out.
Risk
Volatility	21.5%	13.6%	QSPT	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	14.2%	9.0%	QSPT	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−35.1%	−22.5%	QSPT	Deepest fall from a high to the low after it.
Upside capture	100.4%	46.4%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	100.2%	70.0%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.00	0.61	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	1.00	0.92	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.57	0.63	QSPT (slight)	Return above Treasury bills per unit of volatility.
Sortino	0.86	0.96	QSPT	Return above Treasury bills per unit of downside deviation.
Treynor	0.145	0.142		Return above Treasury bills per unit of beta.
Calmar	0.42	0.54	QSPT	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	QQQM	QQQ		The ETF each fund is measured against.
Alpha	−0.1% a year	+1.2% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.58	0.67	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−0.4% to +0.2%	−2.3% to +4.6%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.10	−0.39		Return against its benchmark per unit of tracking error.
Tracking error	0.4%	9.3%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 264 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

QQQ Invesco QQQ Trust, Series 1 QSPT FT Vest Nasdaq-100 Buffer ETF - September

Where it sits Stock ETF Buffer ETF

Issuer Invesco First Trust

What it is Tracks the Nasdaq-100 Defined outcome, 10% on QQQ

Total return, 1 year +15.2% +13.7%

Its benchmark over the same days +15.2% (QQQM) +14.6% (QQQ)

Gap to its benchmark 0.0 pts vs QQQM −0.9 pts vs QQQ

Expense ratio 0.18% 0.90%

Holdings 103 not read by ETFIQ

Net assets, as of Oct 27, 2026 $483.0bn $729m

QQQ and QSPT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-D0E0093724

QQQ and QSPT do different jobs. What does each one do in a portfolio?

What each follows. QQQ follows Nasdaq-100 Index and QSPT follows QQQ.
Cost. QQQ charges 0.18% of assets a year and QSPT 0.90%, a gap of 0.72 points.
Size. QQQ has $483.0bn in net assets and QSPT $729m (net assets, as of Oct 27, 2026); QQQ is 662.6 times larger.

Data as of Oct 28, 2026.

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About each fund

QQQ

QQQ tracks the Nasdaq-100. Over the year to Oct 28, 2026 it returned +15.2% with distributions reinvested, against +15.2% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 103 positions, with the top ten at 46.7%. It sat 4.5% below its high of Oct 6, 2026 on Oct 28, 2026.

QSPT

From its price on Oct 28, 2026, the fund can gain about 20.0% more before it reaches its cap. The fund's price can fall 1.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, QQQ can fall 0.6% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's QQQ level. 324 days remained on Oct 28, 2026. On Sep 17, 2027 the period ends and a new cap is set.

Questions people ask

Are QQQ and QSPT in the same category?: QQQ is a stock ETF and QSPT is a buffer ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, QQQ or QSPT?: In the year to Oct 28, 2026, with distributions reinvested, QQQ returned +15.2% and QSPT +13.7%.
Which is cheaper, QQQ or QSPT?: QQQ is cheaper, by 0.72 percentage points a year. That is about $72 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

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Where to next

QQQ on its own →QSPT on its own →Hold both: look the portfolio through →Rankings →QQQ dividend history →QQQ holdings →Standards and sources →

Sources and dates

QQQ filings on SEC EDGAR ↗

QQQ prospectus with the expense ratio (SEC) ↗

Invesco page for QQQ ↗

QSPT filings on SEC EDGAR ↗

First Trust page for QSPT ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, QQQ against QSPT, data as of Oct 28, 2026. https://etfiq.com/compare/any/qqq-vs-qspt

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