QQQ vs VOO: Fees, Returns & Holdings Compared

	Expense ratio	Net assets	Yield (TTM)	Overlap	1 yr	5 yr*
QQQ	0.18%	$490.10B	0.45%	55%	+8.8%	+12.5%
VOO	0.03%	$1.67T	1.07%		+12.4%	+12.0%

At a glance

55% of QQQ’s and VOO’s holdings overlap by weight, with 88 securities in common out of 102 and 506. QQQ is an ordinary open-end ETF and VOO a share class of Vanguard 500 Index Fund, which also sells mutual fund shares. VOO costs less: 0.03% a year against 0.18% for QQQ, or $30 against $180 on every $100,000. QQQ has $490.10B in assets and VOO $1.67T (all share classes); over the past 12 months QQQ paid out 0.45% of its price and VOO 1.07%, both quarterly. Over the past year QQQ returned +8.8% and VOO +12.4% with distributions reinvested; over five years, +12.5% and +12.0% a year. In the 2022 bear market QQQ fell 34.3% at its worst and VOO 24.5%; both were back at their earlier highs 14 months after the low.

Key differences

	QQQ	VOO
Fund	Invesco QQQ Trust Series I	Vanguard S&P 500 ETF
Issuer	Invesco	Vanguard
Structure	Open-end ETF	ETF share class
Type	Nasdaq-100	S&P 500
Launched	Mar 10, 1999	Sep 7, 2010
Expense ratio	0.18%	0.03%
Cost a year on $100,000	$180	$30
Net assets	$490.10B	$1.67T *
Holdings	102	506
Ten largest positions	45.0%	36.4%
Yield (12 months)	0.45%	1.07%
Pays	quarterly	quarterly
Portfolio turnover	7.98% a year	2% a year
Price data from	Jun 6, 2005	Jun 2, 2020

* VOO’s net assets are those of Vanguard 500 Index Fund, all share classes.

Holdings and overlap

Overlap by weight55%the share of each fund in holdings both own

Securities in common88QQQ 102 · VOO 506 in all

Ten largest positions45.0% / 36.4%of assets, QQQ / VOO

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

Largest holdings

Holding	QQQ	VOO
NVIDIA Corp.	7.60%	7.51%
Apple Inc.	6.67%	6.59%
Micron Technology, Inc.	5.64%	2.02%
Microsoft Corp.	4.35%	4.30%
Advanced Micro Devices, Inc.	4.10%	1.47%
Amazon.com, Inc.	4.02%	3.62%
Tesla, Inc.	3.30%	1.84%
Alphabet Inc. Class A	3.27%	3.25%
Intel Corp.	3.04%	1.02%
Alphabet Inc. Class C	3.02%	2.59%
Broadcom Inc	2.81%	2.77%
Meta Platforms Inc	2.62%	1.92%

The biggest differences in weight: Micron Technology, Inc. (5.6% in QQQ, 2.0% in VOO); Advanced Micro Devices, Inc. (4.1% in QQQ, 1.5% in VOO); Intel Corp. (3.0% in QQQ, 1.0% in VOO).

By sector

Sector	QQQ	VOO	Difference
Technology	53.9%	35.2%	QQQ +18.7
Communication services	12.1%	9.3%	QQQ +2.8
Consumer discretionary	11.0%	9.1%	QQQ +1.9
Financials	0.3%	10.6%	VOO +10.3
Health care	2.0%	7.1%	VOO +5.1
Industrials	1.9%	6.8%	VOO +4.9
Consumer staples	6.0%	4.4%	QQQ +1.6
Energy	0.2%	2.7%	VOO +2.5
Utilities	1.1%	1.9%	VOO +0.8
Materials	0.0%	1.3%	VOO +1.3
Real estate	0.0%	1.3%	VOO +1.3

Sectors of the companies each fund holds that have a stock page here (89.3% of QQQ, 90.6% of VOO). Source: N-PORT holdings reports as of Jun 30, 2026 for both funds.

Returns

QQQ VOO · $10,000 in each on Jun 30, 2020, distributions reinvested.

$10,000 put into QQQ on Jun 30, 2020 was worth $28,924 on Oct 30, 2026, and in VOO $26,780 (+18.3% and +16.8% 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%
VOO price data to Oct 30, 2026	+12.4%	+23.6%	+12.0%	—
VOO official prospectus, to Dec 31, 2025	+17.84%	—	+14.38%	+14.78%

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. VOO: Price data starts 2020-06-02, after the fund's launch on 2010-09-07; figures "since start" cover the available history only.

Calendar years

Year	QQQ	VOO	Difference
2026	+11.2% *	+11.8% *	VOO +0.5
2025	+20.8%	+17.8%	QQQ +2.9
2024	+25.6%	+25.0%	QQQ +0.6
2023	+54.9%	+26.3%	QQQ +28.5
2022	-32.6%	-18.2%	VOO +14.4
2021	+27.4%	+28.8%	VOO +1.4
2020	+48.6%	+18.35% †
2019	+39.0%	+31.46% †
2018	-0.1%	-4.42% †
2017	+32.7%	—

Total returns from price data; † from the fund’s prospectus where the price data starts later; * year to Oct 30, 2026.

Downturns and recovery

	QQQ	VOO
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	Not in the price data (starts Jun 2, 2020)
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	−24.5% 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)	−24.5% (Jan 3, 2022 – Oct 12, 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 Jun 2, 2020 for VOO.

Income

QQQ yield (12 months)0.45%paid quarterly

VOO yield (12 months)1.07%paid quarterly

Year	QQQ	VOO
2025	$55	$131
2024	$69	$153
2023	$95	$181
2022	$54	$136
2021	$54	$158

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

VOO charges 0.03% a year and QQQ 0.18%: on $100,000 that is $150 a year less with VOO ($750 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
VOO	$3	$10	$17	$39

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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