Which was the better investment since 2020, Nasdaq 100 (QQQ) or S&P 500 (SPY)?

Nasdaq 100 (QQQ) was the better investment. $1,000 invested in Nasdaq 100 (QQQ) in 2020 would be worth $3,488 today, compared to $2,540 for S&P 500 (SPY).

What would $1,000 in Nasdaq 100 (QQQ) vs S&P 500 (SPY) be worth today?

$1,000 invested in Nasdaq 100 (QQQ) in 2020 would be worth $3,488 today (+248.8%). The same $1,000 in S&P 500 (SPY) would be worth $2,540 (+154.0%).

How do Nasdaq 100 (QQQ) and S&P 500 (SPY) compare to the S&P 500 since 2020?

The same $1,000 invested in the S&P 500 in 2020 would be worth $2,540 today (+154%). Nasdaq 100 (QQQ) returned $3,488 and S&P 500 (SPY) returned $2,540 over the same period.

Nasdaq 100 (QQQ) vs S&P 500 (SPY): $1,000 invested since 2020

QQQ vs SPY · Data through 2026-06-01

Investment amount

$1,000 invested in 2020 would be worth

Nasdaq 100 (QQQ)Winner

$3,488

+248.8%

S&P 500 (SPY)

$2,540

+154.0%

The same $1,000 in the S&P 500 would be worth $2,540(+154%)

Growth of $1,000

Nasdaq 100 (QQQ) vs. S&P 500 (SPY) vs. S&P 500, 2020 to present

Year-by-year comparison

Nasdaq 100 (QQQ) vs. S&P 500 (SPY), 2020 to present

Year	Nasdaq 100 (QQQ)	Return	S&P 500 (SPY)	Return	S&P 500
2020	$1,000	-	$1,000	-	$1,000
2021	$1,444	+44.4%	$1,172	+17.2%	$1,172
2022	$1,675	+16.0%	$1,444	+23.2%	$1,444
2023	$1,369	-18.3%	$1,325	-8.2%	$1,325
2024	$1,951	+42.5%	$1,598	+20.6%	$1,598
2025	$2,458	+26.0%	$2,018	+26.2%	$2,018
2026	$2,942	+19.7%	$2,347	+16.3%	$2,347

Which came out ahead

Starting in 2020, Nasdaq 100 (QQQ) was the better of the two against S&P 500 (SPY). That $1,000 grew to $3,488 in QQQ versus $2,540 in SPY as of 2026-06-01, roughly $948 more in the end.

In total-return terms the order is clear. Nasdaq 100 (QQQ) returned +248.8% against S&P 500 (SPY) at +154.0%, a gap of about 94.8 percentage points over the 6.6-year window. Compounded, that is about 20.9% a year for QQQ against 15.2% for SPY.

Because Nasdaq 100 (QQQ) is itself a broad index fund, this matchup measures a single position against the market rather than against another single stock. All figures use split-adjusted closing prices and exclude dividends, taxes, fees, and inflation, so a real after-tax result would differ.

None of this recommends one holding over the other. It is historical math, and past performance does not guarantee future results.

Other start years

Nasdaq 100 (QQQ) vs S&P 500 (SPY) from a different starting point

Since 2000 Since 2005 Since 2010 Since 2015 Since 2023

Individual stock pages

Nasdaq 100 (QQQ) since 2020+248.8%S&P 500 (SPY) since 2020+154.0%

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For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. All calculations are based on split-adjusted closing prices from Yahoo Finance and do not account for dividends, taxes, or trading fees. See our methodology and full disclaimer.