Dividend comparison

SPMO vs QQQ: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco S&P 500 Momentum ETF and Invesco QQQ Trust, Series 1, side by side. Updated October 21, 2026.

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SPMO vs QQQ: key differences
The short answer, from the latest data on this page.
  • Fees. SPMO is cheaper at 0.13% a year versus 0.18% for QQQ. On $10,000 that is $5 a year less in fees.
  • Income. SPMO pays more income, yielding 0.78% over the last twelve months versus 0.53% for QQQ. That is about $25 more a year on $10,000. SPMO pays semi-annual, QQQ pays annual.
  • Performance. Over the last 5 years, SPMO returned 133.8% versus 97.0% for QQQ, with dividends reinvested. $10,000 would have grown to $23,378 in SPMO and $19,698 in QQQ.
  • Risk. QQQ has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.1%, against -22.7% for SPMO.
  • Diversification. QQQ holds 102 positions and SPMO holds 100. The ten largest positions make up 61.2% of SPMO and 47.2% of QQQ.
  • Overlap. 50% of the two portfolios overlap by weight, across 28 shared holdings.
  • Dividend growth. SPMO grew its yearly payout 26.9% a year over the last 4 years, versus 13.3% for QQQ.
  • Size. QQQ is the larger fund with $487.5 billion in assets, against $22.0 billion for SPMO.

Bottom line: SPMO has the edge on these figures, with lower fees, stronger 5-year returns, smaller drawdowns and faster dividend growth. QQQ does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricSPMO
Invesco S&P 500 Momentum ETF
QQQ
Invesco QQQ Trust, Series 1
Dividend yield (TTM)0.78%0.53%
Dividend / share (TTM)$1.10$3.79
Payout frequencySemi-annualAnnual
Last dividend$0.2432 on Sep 25, 2026$0.7514 on Oct 8, 2026
Ex-dividend dateSep 21, 2026Dec 21, 2026
Next payment—$0.7941 on Dec 28, 2026
Dividend growth (CAGR)26.9% over 4 yrs13.3% over 4 yrs
Price$141.95$717.63
Dividend growth streak1 year—
Beta1.281.23
Max drawdown (5Y)-22.7%-35.1%
Market cap$14.59B$479.05B
ExchangeAMEXNASDAQ
Expense ratio0.13%0.18%
Assets under management$21.96B$487.46B
Number of holdings100102
Top 10 concentration61.2%47.2%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SPMO

$6.46/mo

$78 /yr at 0.78% yield

QQQ

$4.40/mo

$53 /yr at 0.53% yield

Dividend history
Total dividends paid per share in each calendar year. SPMO pays semi-annual; QQQ pays annual.
YearSPMOQQQ
2025$0.8734$2.7949
2024$0.4577$3.0623
2023$1.0662$2.3200
2022$0.9450$2.1351
2021$0.3369$1.6968
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.

Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.

What SPMO vs QQQ actually do

QQQ
Invesco's fund tracking the Nasdaq-100, the largest non-financial companies listed on the Nasdaq exchange.

The index is modified market-cap weighted and excludes financials by rule, which is why it lands so heavily in technology, communication services and consumer discretionary names. In December 2025 the fund converted from a unit investment trust to a conventional open-end fund and cut its fee, so it can now reinvest income and lend securities like its peers. It remains the most liquid Nasdaq-100 vehicle by a wide margin and the reference asset for a large share of the options-income products in this category.

Suits investors who want concentrated large-cap growth exposure and anyone who needs deep options liquidity. Dividends are incidental, so it does not answer an income mandate on its own.

Growth-tilted core, concentrated

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $23,378 in SPMO and $19,698 in QQQ.
PeriodSPMOQQQ
1 month-4.87%-0.43%
3 months-1.35%3.10%
Year to date18.97%17.09%
1 year17.08%17.78%
3 years154.30%105.61%
5 years133.78%96.98%
  • SPMO
  • QQQ
56168279202120222023202420252026234197

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • SPMO
  • QQQ
0%15%29%44%59%Technology53.0%58.8%Communication Services9.2%12.1%Healthcare10.4%4.4%Industrials7.2%5.5%Consumer Cyclical1.4%10.2%Consumer Defensive2.5%6.1%Financial Services6.7%0.2%Energy6.4%0.5%Real Estate2.2%0.1%Basic Materials1.0%1.0%Other0.2%1.2%
SPMO vs QQQ holdings overlap
50% overlap by weight, with 28 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsSPMO weightQQQ weight
NVDANVIDIA Corp9.24%8.17%
AAPLApple Inc9.97%7.82%
MUMicron Technology Inc8.43%4.41%
AMDAdvanced Micro Devices Inc5.23%3.79%
GOOGLAlphabet Inc5.12%3.15%
GOOGAlphabet Inc4.11%2.94%
AVGOBroadcom Inc6.40%2.49%
INTCIntel Corp4.46%2.08%
CSCOCisco Systems Inc2.47%1.82%
PLTRPalantir Technologies Inc1.55%1.93%
Top 10 holdings
Largest positions by portfolio weight.

SPMO100 holdings total

NameWeight
AAPLApple Inc9.97%
NVDANVIDIA Corp9.24%
MUMicron Technology Inc8.43%
AVGOBroadcom Inc6.40%
AMDAdvanced Micro Devices Inc5.23%
GOOGLAlphabet Inc5.12%
JNJJohnson & Johnson4.68%
INTCIntel Corp4.46%
GOOGAlphabet Inc4.11%
XOMExxonMobil Holdings Corp3.59%

QQQ102 holdings total

NameWeight
NVDANVIDIA Corp8.17%
AAPLApple Inc7.82%
MSFTMicrosoft Corp6.19%
AMZNAmazon.com Inc4.42%
MUMicron Technology Inc4.41%
AMDAdvanced Micro Devices Inc3.79%
METAMeta Platforms Inc3.28%
GOOGLAlphabet Inc3.15%
TSLATesla Inc3.02%
GOOGAlphabet Inc2.94%

Quick verdict

SPMO has the edge on these figures, with lower fees, stronger 5-year returns, smaller drawdowns and faster dividend growth. QQQ does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is SPMO or QQQ better for dividend income?
It depends on your goals. SPMO currently yields 0.78% Trailing Twelve Months (TTM) while QQQ yields 0.53%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SPMO and QQQ?
Invesco S&P 500 Momentum ETF (SPMO) is an ETF listed on AMEX. Invesco QQQ Trust, Series 1 (QQQ) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPMO or QQQ?
SPMO has the lower expense ratio. SPMO charges 0.13% a year and QQQ charges 0.18%, a difference of $5 a year on a $10,000 investment.
Which has performed better, SPMO or QQQ?
Over the last 5 years, SPMO has the higher total return with dividends reinvested: SPMO returned 133.8% and QQQ returned 97.0%. Past performance does not predict future returns.
Which is riskier, SPMO or QQQ?
Measured by the worst peak-to-trough decline over the last five years, QQQ has been riskier: SPMO fell as much as 22.7% and QQQ as much as 35.1%. Their betas are 1.28 and 1.23.
How much do SPMO and QQQ overlap?
About 50% of the two portfolios overlap by weight, across 28 shared holdings. The largest shared positions are NVDA, AAPL, MU. Holding both still adds meaningful diversification.
How often do SPMO and QQQ pay dividends?
SPMO pays semi-annual and QQQ pays annual.
How much income does $10,000 in SPMO vs QQQ generate?
At current TTM yields, $10,000 in SPMO would generate roughly $6.46 per month ($78 annually). The same amount in QQQ would produce about $4.40 per month ($53 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPMO and QQQ?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SPMO vs QQQ with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPMO and QQQ fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.