Which was the better investment since 2023, Nasdaq 100 (QQQ) or S&P 500 (SPY)?

Nasdaq 100 (QQQ) was the better investment. $1,000 invested in Nasdaq 100 (QQQ) in 2023 would be worth $2,548 today, compared to $1,916 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 2023 would be worth $2,548 today (+154.8%). The same $1,000 in S&P 500 (SPY) would be worth $1,916 (+91.6%).

How do Nasdaq 100 (QQQ) and S&P 500 (SPY) compare to the S&P 500 since 2023?

The same $1,000 invested in the S&P 500 in 2023 would be worth $1,916 today (+91.6%). Nasdaq 100 (QQQ) returned $2,548 and S&P 500 (SPY) returned $1,916 over the same period.

Nasdaq 100 (QQQ) vs S&P 500 (SPY): $1,000 invested since 2023

QQQ vs SPY · Data through 2026-06-01

Investment amount

$1,000 invested in 2023 would be worth

Nasdaq 100 (QQQ)Winner

$2,548

+154.8%

S&P 500 (SPY)

$1,916

+91.6%

The same $1,000 in the S&P 500 would be worth $1,916(+91.6%)

Growth of $1,000

Nasdaq 100 (QQQ) vs. S&P 500 (SPY) vs. S&P 500, 2023 to present

Year-by-year comparison

Nasdaq 100 (QQQ) vs. S&P 500 (SPY), 2023 to present

Year	Nasdaq 100 (QQQ)	Return	S&P 500 (SPY)	Return	S&P 500
2023	$1,000	-	$1,000	-	$1,000
2024	$1,425	+42.5%	$1,206	+20.6%	$1,206
2025	$1,796	+26.0%	$1,522	+26.2%	$1,522
2026	$2,149	+19.7%	$1,771	+16.3%	$1,771

Which came out ahead

Starting in 2023, Nasdaq 100 (QQQ) was the better of the two against S&P 500 (SPY). That $1,000 grew to $2,548 in QQQ versus $1,916 in SPY as of 2026-06-01, roughly $631 more in the end.

The headline returns line up with the dollar figures. Nasdaq 100 (QQQ) returned +154.8% against S&P 500 (SPY) at +91.6%, a gap of about 63.2 percentage points over the 3.6-year window. Compounded, that is about 29.8% a year for QQQ against 19.9% 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. In a window this short, one strong or weak stretch can swing the result more than a long-run average would. All figures use split-adjusted closing prices and exclude dividends, taxes, fees, and inflation, so a real after-tax result would differ.

Treat this as history rather than advice about either company. 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 2020

Individual stock pages

Nasdaq 100 (QQQ) since 2023+154.8%S&P 500 (SPY) since 2023+91.6%

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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.