Are QQQM and QSPT in the same category?

QQQM 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, QQQM or QSPT?

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

Which is cheaper, QQQM or QSPT?

QQQM is cheaper, by 0.75 percentage points a year. That is about $75 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

QQQM vs QSPT: Differences, Returns & Fees

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Over the year to Oct 28, 2026, QQQM returned +15.2% to QSPT's +13.7%, and QQQM charges 0.15% to QSPT's 0.90%.

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Net assets on Oct 27, 2026: $110.4bn for Invesco NASDAQ 100 ETF and $729m for FT Vest Nasdaq-100 Buffer ETF - September.

QQQM on its own →QSPT on its own →

At a glance

+15.2%

QQQM total return, 1 year

+13.7%

QSPT total return, 1 year

0.15%

QQQM expense ratio

0.90%

QSPT expense ratio

Pair scorecard

QQQM costs 0.75 points a year less; their one-year returns differ by 1.5 points; QQQM is far larger, $110.4bn against $729m.

QQQM vs QSPT: Differences, Returns & Fees
Measure	QQQM	QSPT
Return
Measure	QQQM	QSPT
Total return, 1 year	+15.2%	+13.7%
Drawdown
Measure	QQQM	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	QQQM	QSPT
What it tracks	Nasdaq-100 Index	QQQ
The outcome period
Measure	QQQM	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	QQQM	QSPT
Expense ratio	0.15%	0.90%
Net assets, as of Oct 27, 2026	$110.4bn	$729m
Holdings
Measure	QQQM	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 · each against QQQ

QQQM QSPT

Return

Total return edge QQQM +102.2% +79.7%

Annualized edge QQQM +14.9% +12.2%

Price return edge QQQM +95.9% +79.7%

Risk

Volatility edge QSPT 21.5% 13.6%

Max drawdown edge QSPT −35.0% −22.5%

Downside capture 99.8% 70.0%

Beta 1.00 0.61

Risk-adjusted

Sharpe edge QSPT (slight) 0.57 0.63

Sortino edge QSPT (slight) 0.87 0.96

Treynor 0.123 0.142

Calmar edge QSPT 0.42 0.54

Against the benchmark

Alpha +0.1% a year +1.2% a year

Alpha t-stat 0.65 0.67

Information ratio 0.19 −0.39

Tracking error 0.3% 9.3%

Reading

QQQM returned more: +102.2% to +79.7%. QSPT swung less: 13.6% to 21.5%. QSPT fell less at its worst: −22.5% to −35.0%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: QQQM vs QSPT: Differences, Returns & Fees
Measure	QQQM	QSPT	QQQ	Edge	How it is measured
Return
Total return	+102.2%	+79.7%		QQQM	Price change plus distributions, reinvested.
Annualized	+14.9%	+12.2%		QQQM	Total return as a yearly rate.
Price return	+95.9%	+79.7%		QQQM	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	−35.0%	−22.5%		QSPT	Deepest fall from a high to the low after it.
Upside capture	99.8%	46.4%	100.0%	QQQM	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	99.8%	70.0%	100.0%	QSPT	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.00	0.61	1.00	QSPT lower	How far it moves for each 1% its benchmark moves.
R squared	1.00	0.92	1.00	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	0.87	0.96		QSPT (slight)	Return above Treasury bills per unit of downside deviation.
Treynor	0.123	0.142	0.122	QSPT	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	QQQ	QQQ	QQQ		The ETF each fund is measured against.
Alpha	+0.1% a year	+1.2% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.65	0.67		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−0.2% to +0.4%	−2.3% to +4.6%		Both include zero	The 95% range for the yearly alpha.
Information ratio	0.19	−0.39		QQQM	Return against its benchmark per unit of tracking error.
Tracking error	0.3%	9.3%	0.0%	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

QQQM Invesco NASDAQ 100 ETF 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% (QQQ) +14.6% (QQQ)

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

Expense ratio 0.15% 0.90%

Holdings 105 not read by ETFIQ

Net assets, as of Oct 27, 2026 $110.4bn $729m

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

Client brief · page 1 of 2 Report BR-6D02B96E4F

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

What each follows. QQQM follows Nasdaq-100 Index and QSPT follows QQQ.
Cost. QQQM charges 0.15% of assets a year and QSPT 0.90%, a gap of 0.75 points.
Size. QQQM has $110.4bn in net assets and QSPT $729m (net assets, as of Oct 27, 2026); QQQM is 151.4 times larger.

Data as of Oct 28, 2026.

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About each fund

QQQM

QQQM 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 0.15% 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 105 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 QQQM and QSPT in the same category?: QQQM 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, QQQM or QSPT?: In the year to Oct 28, 2026, with distributions reinvested, QQQM returned +15.2% and QSPT +13.7%.
Which is cheaper, QQQM or QSPT?: QQQM is cheaper, by 0.75 percentage points a year. That is about $75 on $10,000 held for a year. Fees come from each fund's prospectus.

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Where to next

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

Sources and dates

QQQM filings on SEC EDGAR ↗

QQQM prospectus with the expense ratio (SEC) ↗

Invesco page for QQQM ↗

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

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