QQQ vs SPY
Mar 10, 1999 – Sep 24, 2026, QQQ sets the start date
| Final balance | CAGR | Max drawdown | Sharpe ratio | |
|---|---|---|---|---|
| QQQ | $172,420 | 10.89% | −82.96% | 0.52 |
| SPY | $96,029 | 8.56% | −55.19% | 0.52 |
| QQQ | SPY | |
|---|---|---|
| Final balance | $172,420 | $96,029 |
| CAGR | 10.89% | 8.56% |
| Max drawdown | −82.96% | −55.19% |
| Sharpe ratio | 0.52 | 0.52 |
Loading the growth chart…
Growth of $10,000
- QQQ
- SPY
Trailing returns
Annualized past 1Y
| Period | QQQ | SPY | QQQ − SPY |
|---|---|---|---|
| YTD | 21.05% | 13.38% | +7.67% |
| 1Y | 24.91% | 17.30% | +7.61% |
| 3Y | 28.18% | 22.72% | +5.46% |
| 5Y | 15.39% | 13.07% | +2.32% |
| 10Y | 20.95% | 15.32% | +5.64% |
| 15Y | 20.08% | 15.58% | +4.51% |
| 20Y | 16.65% | 11.24% | +5.41% |
Metrics
| Return | QQQ | SPY |
|---|---|---|
| Final balance | $172,420 | $96,029 |
| Total return | 1624.20% | 860.29% |
| CAGR | 10.89% | 8.56% |
| Calendar years | QQQ | SPY |
| Best year | 54.86% | 32.31% |
| Worst year | −41.73% | −36.80% |
| Positive years | 20 of 26 | 20 of 26 |
| Risk | QQQ | SPY |
| Max drawdown | −82.96% | −55.19% |
| Longest drawdown | 14.9 years | 6.6 years |
| Volatility (annualized) | 26.90% | 19.20% |
| Risk-adjusted | QQQ | SPY |
| Sharpe ratio | 0.52 | 0.52 |
| Sortino ratio | 0.75 | 0.74 |
| Calmar ratio | 0.13 | 0.16 |
| Return | QQQ | SPY |
|---|---|---|
| Final balance | $172,420 | $96,029 |
| Total return | 1624.20% | 860.29% |
| CAGR | 10.89% | 8.56% |
| Calendar years | QQQ | SPY |
| Best year | 54.86% | 32.31% |
| Worst year | −41.73% | −36.80% |
| Positive years | 20 of 26 | 20 of 26 |
| Risk | QQQ | SPY |
|---|---|---|
| Max drawdown | −82.96% | −55.19% |
| Longest drawdown | 14.9 years | 6.6 years |
| Volatility (annualized) | 26.90% | 19.20% |
| Risk-adjusted | QQQ | SPY |
| Sharpe ratio | 0.52 | 0.52 |
| Sortino ratio | 0.75 | 0.74 |
| Calmar ratio | 0.13 | 0.16 |
Worst drawdowns
| Decline | Peak | Bottom | Recovered |
|---|---|---|---|
| −83.0% | Mar 2000 | Oct 2002 | Feb 2015 |
| −35.1% | Dec 2021 | Nov 2022 | Dec 2023 |
| −28.6% | Feb 2020 | Mar 2020 | Jun 2020 |
| −22.8% | Aug 2018 | Dec 2018 | Apr 2019 |
| −22.8% | Feb 2025 | Apr 2025 | Jun 2025 |
| Decline | Peak | Bottom | Recovered |
|---|---|---|---|
| −55.2% | Oct 2007 | Mar 2009 | Aug 2012 |
| −47.5% | Mar 2000 | Oct 2002 | Oct 2006 |
| −33.7% | Feb 2020 | Mar 2020 | Aug 2020 |
| −24.5% | Jan 2022 | Oct 2022 | Dec 2023 |
| −19.3% | Sep 2018 | Dec 2018 | Apr 2019 |
Annual returns
| Year | QQQ | SPY | QQQ − SPY |
|---|---|---|---|
| 1999* | +78.95% | +14.91% | +64.03% |
| 2000 | −36.11% | −9.74% | −26.37% |
| 2001 | −33.34% | −11.76% | −21.59% |
| 2002 | −37.37% | −21.58% | −15.78% |
| 2003 | +49.67% | +28.18% | +21.49% |
| 2004 | +10.54% | +10.70% | −0.16% |
| 2005 | +1.57% | +4.83% | −3.26% |
| 2006 | +7.14% | +15.85% | −8.70% |
| 2007 | +19.03% | +5.15% | +13.88% |
| 2008 | −41.73% | −36.80% | −4.93% |
| 2009 | +54.68% | +26.35% | +28.33% |
| 2010 | +20.14% | +15.06% | +5.09% |
| 2011 | +3.48% | +1.89% | +1.58% |
| 2012 | +18.11% | +15.99% | +2.12% |
| 2013 | +36.63% | +32.31% | +4.33% |
| 2014 | +19.18% | +13.46% | +5.72% |
| 2015 | +9.44% | +1.23% | +8.20% |
| 2016 | +7.10% | +12.00% | −4.90% |
| 2017 | +32.66% | +21.71% | +10.96% |
| 2018 | −0.13% | −4.57% | +4.44% |
| 2019 | +38.96% | +31.22% | +7.74% |
| 2020 | +48.41% | +18.33% | +30.07% |
| 2021 | +27.42% | +28.73% | −1.31% |
| 2022 | −32.58% | −18.18% | −14.40% |
| 2023 | +54.86% | +26.18% | +28.68% |
| 2024 | +25.58% | +24.89% | +0.69% |
| 2025 | +20.77% | +17.72% | +3.05% |
| 2026* | +21.05% | +13.38% | +7.67% |
* Partial year
Rolling returns
| Period | QQQ median | SPY median | More often ahead |
|---|---|---|---|
| 1Y | 16.81% | 12.78% | QQQ 67% |
| 3Y | 14.93% | 11.11% | QQQ 78% |
| 5Y | 15.25% | 11.07% | QQQ 84% |
| 10Y | 13.27% | 8.49% | QQQ 88% |
About QQQ vs SPY
QQQ tracks the Nasdaq-100, the largest non-financial companies on the Nasdaq, and SPY tracks the S&P 500. SPY launched in 1993 and QQQ in 1999, so the comparison here takes in the dot-com crash and the 2008 crash. The QQQ vs VOO page starts in 2010.
QQQ returned 10.9% a year from Mar 1999 to Sep 2026, against 8.6% for SPY. QQQ fell furthest in 2000–2002, by 83.0%, and SPY in 2007–2009, by 55.2%. QQQ beat SPY in 16 of 26 full years and in 88% of rolling 10-year periods.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on Mar 10, 1999, when QQQ's prices begin.