In March 2000, the P/E for the Nasdaq was a sky-high 175, according to data pulled by Nasdaq and Bloomberg that looks at earnings from the prior 12 months. ( I could not find year by year Nasdaq PE ratio back to 1990.
The PE ratio for Nasdaq stock stands at 25.84 as of Dec 29, 2023 S&P 500 P/E Ratio is at a current level of 24.59
https://www.macrotrends.net/stocks/charts/NDAQ/nasdaq/pe-ratio?
QQQ -33% in 2022, The S&P 500 Price index returned -19.64% in 2022
Not sure if QQQ is riskier than SPY now.
SP500 PE ratio
| Date | Value |
|---|---|
| Dec 29, 2023 | † 26.35 |
| Jan 1, 2023 | 22.82 |
| Jan 1, 2022 | 23.11 |
| Jan 1, 2021 | 35.96 |
| Jan 1, 2020 | 24.88 |
| Jan 1, 2019 | 19.60 |
| Jan 1, 2018 | 24.97 |
| Jan 1, 2017 | 23.59 |
| Jan 1, 2016 | 22.18 |
| Jan 1, 2015 | 20.02 |
| Jan 1, 2014 | 18.15 |
| Jan 1, 2013 | 17.03 |
| Jan 1, 2012 | 14.87 |
| Jan 1, 2011 | 16.30 |
| Jan 1, 2010 | 20.70 |
| Jan 1, 2009 | 70.91 |
| Jan 1, 2008 | 21.46 |
| Jan 1, 2007 | 17.36 |
| Jan 1, 2006 | 18.07 |
| Jan 1, 2005 | 19.99 |
| Jan 1, 2004 | 22.73 |
| Jan 1, 2003 | 31.43 |
| Jan 1, 2002 | 46.17 |
| Jan 1, 2001 | 27.55 |
| Jan 1, 2000 | 29.04 |
| Jan 1, 1999 | 32.92 |
| Jan 1, 1998 | 24.29 |
| Jan 1, 1997 | 19.53 |
| Jan 1, 1996 | 18.08 |
| Jan 1, 1995 | 14.89 |
| Jan 1, 1994 | 21.34 |
| Jan 1, 1993 | 22.50 |
| Jan 1, 1992 | 25.93 |
| Jan 1, 1991 | 15.35 |
| Jan 1, 1990 | 15.13 |
| Jan 1, 1989 | 11.82 |
| Jan 1, 1988 | 14.02 |
| Jan 1, 1987 | 18.01 |
| Jan 1, 1986 | 14.28 |
| Jan 1, 1985 | 10.36 |
| Jan 1, 1984 | 11.52 |
| Jan 1, 1983 | 11.48 |
| Jan 1, 1982 | 7.73 |
| Jan 1, 1981 | 9.02 |
| Jan 1, 1980 | 7.39 |
| Jan 1, 1979 | 7.88 |
| Jan 1, 1978 | 8.28 |
| Jan 1, 1977 | 10.41 |
| Jan 1, 1976 | 11.82 |
| Jan 1, 1975 | 8.30 |
| Jan 1, 1974 | 11.68 |
| Jan 1, 1973 | 18.09 |
