QQQ vs QQQM: Fees, Returns & Holdings Compared

	Expense ratio	Net assets	Yield (TTM)	Overlap	1 yr	5 yr*
QQQ	0.18%	$490.10B	0.45%	91%	+8.8%	+12.5%
QQQM	0.15%	$104.38B	0.47%		+8.8%	+12.6%

At a glance

QQQ and QQQM hold almost the same stocks in almost the same amounts: 91% of their holdings overlap by weight. QQQM costs less: 0.15% a year against 0.18% for QQQ, or $150 against $180 on every $100,000. QQQ has $490.10B in assets and QQQM $104.38B; over the past 12 months QQQ paid out 0.45% of its price and QQQM 0.47%, both quarterly. Over the past year QQQ returned +8.8% and QQQM +8.8% with distributions reinvested; over five years, +12.5% and +12.6% a year. In the 2022 bear market QQQ fell 34.3% at its worst and QQQM 34.2%; both were back at their earlier highs 14 months after the low.

Key differences

	QQQ	QQQM
Fund	Invesco QQQ Trust Series I	Invesco NASDAQ 100 ETF
Issuer	Invesco	Invesco
Structure	Open-end ETF	Open-end ETF
Type	Nasdaq-100	Nasdaq-100
Launched	Mar 10, 1999	Oct 13, 2020
Expense ratio	0.18%	0.15%
Cost a year on $100,000	$180	$150
Net assets	$490.10B	$104.38B
Holdings	102	102
Ten largest positions	45.0%	46.3%
Yield (12 months)	0.45%	0.47%
Pays	quarterly	quarterly
Portfolio turnover	7.98% a year	6% a year
Price data from	Jun 6, 2005	Feb 22, 2021

Holdings and overlap

Overlap by weight91%the share of each fund in holdings both own

Securities in common101QQQ 102 · QQQM 102 in all

Ten largest positions45.0% / 46.3%of assets, QQQ / QQQM

Overlap adds up, for every security both funds own, the smaller of its two weights: 100% would mean identical portfolios.

Largest holdings

Holding	QQQ	QQQM
NVIDIA Corp.	7.60%	8.51%
Apple Inc.	6.67%	7.41%
Microsoft Corp.	4.35%	6.00%
Micron Technology, Inc.	5.64%	4.76%
Amazon.com, Inc.	4.02%	4.45%
Advanced Micro Devices, Inc.	4.10%	3.38%
Tesla, Inc.	3.30%	2.93%
Alphabet Inc. Class A	3.27%	3.15%
Intel Corp.	3.04%	1.98%
Alphabet Inc. Class C	3.02%	2.92%
Broadcom Inc.	2.81%	2.80%

The biggest differences in weight: Microsoft Corp. (4.3% in QQQ, 6.0% in QQQM); Intel Corp. (3.0% in QQQ, 2.0% in QQQM); NVIDIA Corp. (7.6% in QQQ, 8.5% in QQQM).

By sector

Sector	QQQ	QQQM	Difference
Technology	53.9%	52.8%	QQQ +1.1
Communication services	12.1%	12.0%	QQQ +0.1
Consumer discretionary	11.0%	11.4%	QQQM +0.4
Consumer staples	6.0%	6.0%	—
Health care	2.0%	2.3%	QQQM +0.3
Industrials	1.9%	2.1%	QQQM +0.2
Utilities	1.1%	1.1%	—
Financials	0.3%	0.4%	QQQM +0.1
Energy	0.2%	0.2%	—

Sectors of the companies each fund holds that have a stock page here (89.3% of QQQ, 89.3% of QQQM). Source: N-PORT holdings reports as of Jun 30, 2026 (QQQ) and Aug 31, 2026 (QQQM).

Returns

QQQ QQQM · $10,000 in each on Feb 26, 2021, distributions reinvested.

$10,000 put into QQQ on Feb 26, 2021 was worth $22,414 on Nov 2, 2026, and in QQQM $22,395 (+15.3% and +15.2% a year). That is as far back as the price data for both goes.

	1 yr	3 yr	5 yr	10 yr
QQQ price data to Nov 2, 2026	+8.8%	+24.0%	+12.5%	+20.3%
QQQ official prospectus, to Dec 31, 2024	+25.58%	—	+19.94%	+18.28%
QQQM price data to Nov 2, 2026	+8.8%	+24.1%	+12.6%	—
QQQM official prospectus, to Dec 31, 2024	+25.70%	—	—	—

Multi-year figures are annualized total returns with distributions reinvested. "Official" rows are the SEC-standard returns from each fund's prospectus, to the end of the last calendar year; they reach back further where the price data starts late. QQQ: Price data starts 2005-06-06, after the fund's launch on 1999-03-10; figures "since start" cover the available history only. QQQM: Price data starts 2021-02-22, after the fund's launch on 2020-10-13; figures "since start" cover the available history only.

Calendar years

Year	QQQ	QQQM	Difference
2026	+11.2% *	+11.3% *	—
2025	+20.8%	+20.8%	QQQM +0.1
2024	+25.6%	+25.7%	QQQM +0.1
2023	+54.9%	+55.0%	QQQM +0.1
2022	-32.6%	-32.5%	QQQM +0.1
2021	+27.4%	+27.33% †
2020	+48.6%	—
2019	+39.0%	—
2018	-0.1%	—
2017	+32.7%	—

Total returns from price data; † from the fund’s prospectus where the price data starts later; * year to Nov 2, 2026.

Downturns and recovery

	QQQ	QQQM
2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009	−53.4% at the worst; back at its high 25 months after the low	Before it launched
2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020	−28.6% at the worst; back at its high 3 months after the low	Before it launched
2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022	−34.3% at the worst; back at its high 14 months after the low	−34.2% at the worst; back at its high 14 months after the low
Worst fall in the price data	−53.4% (Oct 31, 2007 – Nov 20, 2008)	−35% (Nov 19, 2021 – Nov 3, 2022)

The deepest drop from a high to a low during each stretch when stocks fell, and how long the fund took to get back to its earlier high, with distributions reinvested. The price data starts Jun 6, 2005 for QQQ and Feb 22, 2021 for QQQM.

Income

QQQ yield (12 months)0.45%paid quarterly

QQQM yield (12 months)0.47%paid quarterly

Year	QQQ	QQQM
2025	$55	$60
2024	$69	$76
2023	$95	$100
2022	$54	$56

Distributions paid during each calendar year on $10,000 of shares bought at the previous year-end close, adjusted for share splits. Before taxes.

Costs

QQQM charges 0.15% a year and QQQ 0.18%: on $100,000 that is $30 a year less with QQQM ($150 on $500,000). The fee comes out of each fund's assets, so it is already in the returns above.

Cost of $10,000 (SEC example)	1 yr	3 yrs	5 yrs	10 yrs
QQQ	$18	$58	$101	$230
QQQM	$15	$48	$85	$192

From each fund's prospectus: the total costs on $10,000 invested, at a 5% yearly return, with the shares sold at the end of each period.

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