Nasdaq-100 vs S&P 500
QQQ vs VOO in a taxable account
Compare a Nasdaq-100 fund against an S&P 500 fund, including concentration and distribution differences.
Modeled result
From 2011 to 2025, QQQ finished ahead of VOO before tax and retained about $45,623 more in estimated end-date sale proceeds after taxes paid during the test, from the same $10,000 start.
Historical model
Growth of $10,000
2011-01-03 to 2025-12-31
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All history
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QQQ
Nasdaq-100 (QQQ)
- After-tax if sold at end
- $104,397
- Before tax
- $126,698
- Value after taxes paid
- $122,933
- Max drawdown
- -35.12%
VOO
S&P 500 (VOO)
- After-tax if sold at end
- $58,774
- Before tax
- $70,895
- Value after taxes paid
- $66,309
- Max drawdown
- -33.99%
Detailed metrics
Assumptions
$10,000 lump sum; distributions reinvested; monthly rebalancing; 2011-01-03 to 2025-12-31.
Tax profile: Single filer, $150,000 income, taxable account, HIFO lots, 2026 federal brackets, no state tax.
FAQ
Is QQQ more tax-efficient than VOO?
QQQ pays a lower dividend yield, so it distributes less return each year. That can reduce yearly taxable income in a taxable account. That is separate from total return, which depends on how the underlying stocks perform.
Does the Nasdaq-100 include only technology stocks?
No. It is the largest non-financial companies on the Nasdaq, which skews toward technology and growth but also includes consumer, healthcare, and other sectors. It is more concentrated than the S&P 500.