S&P 500 vs Nasdaq 100 vs gold over 15 years?
This page compares 15 years of steady monthly investing into the S&P 500 (SPY), Nasdaq 100 (QQQ), and gold (GLD) on one screen, using the comparison calculator. It places the drawdown timing and depth of three axes—growth, concentration, and safety—side by side.
Investment conditions
Asset · S&P 500 (SPY) - Nasdaq 100 (QQQ) - Gold (GLD)
Method · Comparison
The key is that comparing the three on one screen reveals different characters—'growth, concentration, and safety.' QQQ had larger gains in up-markets but deeper drawdowns, SPY sat in between, and gold rose gently with shallow drawdowns and moved in different phases. In the comparison calculator, check each of the three assets' ending balance, maximum drawdown, and recovery period, and compare when and how deep the drawdowns were side by side. Rather than ranking by a single final return, the purpose is to understand how each asset carries different risk.
Open in comparison calculatorWhy this period and asset
These three assets represent different characters. The S&P 500 (SPY) is a growth asset broadly diversified across 500 leading US companies; the Nasdaq 100 (QQQ) is more concentrated in tech and growth stocks; gold (GLD) pays no interest or dividends but moves differently in crises and inflation as a safe asset. Over the past 15 years, Big Tech leadership let QQQ lead SPY in many stretches, and SPY too trended steadily upward. Gold rose more gently but sometimes moved differently from stocks in certain crisis stretches. The three assets' drawdown timing and depth differed by phase.
Caveats & limits
This comparison reflects one specific past period, and which leads can change with the start or end date. Past performance does not guarantee the future. In real investing, fees, taxes, and exchange rates (for dollar-denominated assets) affect outcomes. This page recommends no purchase; it is educational material comparing character.
Data sources & limits
- Trading fees and taxes are not reflected — figures are pre-tax.
- Based on historical data; does not guarantee future returns.
Frequently asked questions
Which of the three assets is better?
None is always better. QQQ's return stood out over the past 15 years but its drawdown was deeper, and gold rose gently while moving in different phases. Use the comparison calculator to view all three assets' return and drawdown side by side.
How do the three assets' risks differ?
QQQ's concentration in growth brings higher volatility and drawdown; SPY is broader and milder; gold pays no interest or dividends but tends to move differently from stocks in crises. Review maximum drawdown and recovery period together.
What should I use as the basis for comparison?
Look beyond the final return to each of the three assets' maximum drawdown, time underwater, and recovery period side by side. If drawdowns hit at different times, holding them together may ease overall volatility—a useful framing to consider.
Related scenarios
📋 结果基于历史数据计算,过去的收益不代表未来的收益。
📋 本服务旨在帮助理解投资、供教育之用,并非投资建议。
⚠️ 各资产的波动性与风险水平不同,仅凭收益率无法判断孰优孰劣。