At a glance
QQEW charges 0.55% a year, above the 0.29% average of the 8 funds most like it (the 8th cheapest of 9). It has $1.81B in assets, the 5th largest of that group; it paid 0.13% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +8.1% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +17.8% a year. At its worst it fell 30.8% in the 2020 crash (S&P 500: 33.7%) and 30.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 14 months after the lows. Its ten largest positions make up 25.3% of the fund, out of 52 in all.
The short version
First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) is called the First Trust Nasdaq-100 Select Equal Weight ETF in its prospectus filed April 30, 2026. It holds 50 Nasdaq-100 companies chosen for growth and profitability, and it gives each one the same weight. That makes it far less dependent on a few giant stocks than QQQ. However, its 0.55% expense ratio is well above the 0.29% average for similar funds.
Price history
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QQEW +8.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| QQEW official prospectus, to Dec 31, 2025 | — | +14.33% | — | +7.66% | +13.18% | +11.03% |
| QQEW price data to Oct 27, 2026 | +11.1% | +8.1% | +17.8% | +7.0% | +13.9% | +11.3% |
- Over the year to Oct 27, 2026, QQEW returned +8.1%, 7th of 9 among similar funds.
- Its 5-year annualized return was +7.0% and its 10-year +13.9%.
- In the 2020 COVID crash it fell 30.8% and regained its old high 2.5 months after the low.
- Its worst full calendar year was 2008 (-43.5%); its best was 2009 (+58.9%).
- The deepest fall in its price history was 58.2% (Oct 12, 2007 to Nov 20, 2008), recovered by Jan 5, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.1% | — |
| 2025 | +14.2% | +14.33% |
| 2024 | +7.0% | +6.81% |
| 2023 | +33.3% | +33.51% |
| 2022 | -24.6% | -24.62% |
| 2021 | +17.8% | +17.67% |
| 2020 | +37.3% | +37.35% |
| 2019 | +35.8% | +35.78% |
| 2018 | -5.3% | -5.16% |
| 2017 | +26.1% | +26.00% |
| 2016 | +7.1% | +7.02% |
| 2015 | +2.1% | — |
| 2014 | +19.1% | — |
| 2013 | +39.9% | — |
| 2012 | +15.1% | — |
| 2011 | -2.8% | — |
| 2010 | +20.7% | — |
| 2009 | +58.9% | — |
| 2008 | -43.5% | — |
| 2007 | +9.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 56% over that stretch · deepest drop along the way 58.2%, back to its old high 25.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 30.7% over that stretch · deepest drop along the way 30.8%, back to its old high 2.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 30% over that stretch · deepest drop along the way 30%, back to its old high 14.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0200 | |
| 2025 | $0.5800 | -18.3% |
| 2024 | $0.7100 | -12.3% |
| 2023 | $0.8100 | +37.3% |
| 2022 | $0.5900 | +110.7% |
| 2021 | $0.2800 | -20.0% |
| 2020 | $0.3500 | +2.9% |
| 2019 | $0.3400 | +13.3% |
| 2018 | $0.3000 | +3.4% |
| 2017 | $0.2900 | -14.7% |
| 2016 | $0.3400 | +25.9% |
| 2015 | $0.2700 | -40.0% |
| 2014 | $0.4500 | +164.7% |
| 2013 | $0.1700 | -41.4% |
| 2012 | $0.2900 | +190.0% |
| 2011 | $0.1000 | -16.7% |
| 2010 | $0.1200 | +140.0% |
| 2009 | $0.0500 | +400.0% |
| 2008 | $0.0100 |
What's inside
As of Jun 30, 2026, the fund held 52 securities; the ten largest made up 25.27% of assets.
| Holding | Weight | |
|---|---|---|
| KLA CORP | 3.08% | |
| ASTERA LABS INC | 2.76% | |
| LAM RESEARCH CORP | 2.67% | |
| TERADYNE INC | 2.54% | |
| AXON ENTERPRISE INC | 2.45% | |
| ASML HOLDING NV | 2.42% | |
| PALO ALTO NETWORKS INC | 2.38% | |
| WESTERN DIGITAL CORP | 2.36% | |
| MICRON TECHNOLOGY INC | 2.33% | |
| DOORDASH INC | 2.27% | |
| ADVANCED MICRO DEVICES INC | 2.21% | |
| FORTINET INC | 2.18% | |
| VERTEX PHARMACEUTICALS INC | 2.18% | |
| SEAGATE TECHNOLOGY HOLDINGS PLC | 2.15% | |
| MONSTER BEVERAGE CORP | 2.14% |
By country
United States 95.38%Netherlands 2.42%Ireland 2.15%By asset type
Stocks 99.95%RA 0%By sector
Sectors of the companies held, for the 79.8% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $148.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.16%, +13.67%, +2.30%.
How it works
QQEW tracks the Nasdaq-100 Select Equal Weight Index, which Nasdaq, Inc. builds and maintains. The starting list is the Nasdaq-100: about 100 of the largest non-financial companies listed on Nasdaq. Each company gets a growth score, based on three-year revenue growth, expected earnings growth and free cash flow growth. It also gets a quality score, based on return on equity (profit compared with shareholders' money) and profit margin. The 50 companies with the highest combined scores go into the index, each at an equal weight. The fund normally puts at least 80% of its net assets into the index's securities.
Every quarter, the index swaps companies in and out and resets the weights to equal. That means the fund trims stocks that have risen and adds to ones that have lagged. It also leads to fairly high trading: portfolio turnover was 58%. As of June 30, 2026, the fund held 52 holdings. The largest were KLA (3.1%), Astera Labs (2.8%) and Lam Research (2.7%), and the top 10 together made up about 25% of assets.
The fund doesn't use leverage, options or derivatives. It can hold depositary receipts, which are US-traded shares of foreign companies such as ASML. To reach some Chinese companies, the fund may use variable interest entities. These are shell companies that control a Chinese business through contracts rather than direct ownership, which gives shareholders a weaker legal claim.
What it really costs
- QQEW charges 0.55% a year, versus an average of 0.29% for the similar funds below (8th of 9, cheapest first).
In a retirement portfolio
It is a concentrated, technology-heavy growth fund that has moved more sharply than the market, so it fits better as a smaller add-on than as a foundation.
QQEW could add growth-stock exposure to a portfolio, but the ride has been bumpy. Its one-year beta was 1.27 as of October 27, 2026, which means it tended to move about a quarter more than the market. It fell 58.2% between October 2007 and November 2008 and took about 25 months to recover from that low. Its worst calendar year was 2008, with a loss of 43.5%. It dropped 30.8% in the 2020 COVID crash and recovered in about 2.5 months. In the 2022 bear market it fell 30% and needed about 14 months to recover. Anyone forced to sell during stretches like these would lock in losses. Income is minimal: the trailing yield was 0.13% as of October 27, 2026, paid semiannually. The 0.55% expense ratio is nearly double the 0.29% peer average. Past results don't predict future ones, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want Nasdaq-100 exposure without relying on a few giants; no single holding was above 3.1% as of June 30, 2026.
- Investors who like a rules-based tilt toward companies with strong revenue, earnings and cash flow growth plus high profit margins and return on equity.
- Long-term holders who can sit through deep drops, like the 30% falls of 2020 and 2022, and keep it as a smaller position.
Look elsewhere if
- Cost-conscious investors: QQEW charges 0.55% a year, against 0.35% for QQQE, 0.20% for QQQ and 0.15% for QQQM.
- Retirees looking for income: the trailing yield was just 0.13% as of October 27, 2026, paid twice a year.
- Investors who want broad diversification: technology made up at least 42.4% of assets as of June 30, 2026, led by KLA, Lam Research and Micron.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QQEW this fund | — | 0.55% | $1.81B | +8.1% | +17.8% |
| QQQE Direxion NASDAQ-100 Equal Weighted Index Sh… | 50% | 0.35% | $1.33B | +14.1% | +20.1% |
| QNXT iShares Nasdaq-100 ex Top 30 ETF | 45% | 0.2% | $18.9M | +10.0% | — |
| QQMG Invesco ESG NASDAQ 100 ETF | 40% | 0.2% | $200.0M | +16.4% | +29.5% |
| QQQ Invesco QQQ Trust Series I | 39% | 0.2% | $490.10B | +8.8% | +24.0% |
| QQQM Invesco NASDAQ 100 ETF | 39% | 0.15% | $104.38B | +8.8% | +24.1% |
| QQXT First Trust Nasdaq-100 Ex-Technology Sector… | 37% | 0.6% | $165.9M | +0.6% | +10.8% |
| RSPT Invesco S&P 500 Equal Weight Technology ETF | 36% | 0.4% | $5.47B | +42.6% | +36.6% |
Questions investors ask
Is QQEW the same as QQQ?
No. QQQ weights Nasdaq-100 companies by size, so the biggest firms dominate, and it charges 0.20% a year. QQEW holds 50 Nasdaq-100 companies picked for quality and growth, gives each an equal weight, and charges 0.55%. Only about 39% of their holdings overlap. QQEW's annualized three-year price return was 17.8% as of October 27, 2026. QQQ's was 28.2% as of October 29, 2026, helped by its large positions in the biggest companies.
What's the difference between QQEW and QQQE?
Both are equal-weighted Nasdaq-100 funds, and about half their holdings overlap. Direxion's QQQE costs 0.35% a year, compared with 0.55% for QQEW. QQEW's prospectus describes a narrower approach that keeps only the 50 companies with the highest quality and growth scores. As of October 27, 2026, QQQE returned 14.1% over one year and 20.1% annualized over three years. QQEW returned 8.1% and 17.8% over the same periods.
Does QQEW pay dividends?
Yes, but the payments are small. QQEW pays semiannually, meaning twice a year. Over the 12 months to October 27, 2026, it paid about $0.21 per share, a trailing yield of 0.13%. That's typical for a fund full of growth companies, which tend to reinvest profits instead of paying them out. Investors who need steady income from their portfolio would get little from this fund on its own.
How has QQEW performed over 10 years?
Through December 31, 2025, QQEW returned an average of 13.18% a year over 10 years, 7.66% over five years and 14.33% over one year, according to its prospectus. Results swung widely from year to year. It gained 35.78% in 2019 and 37.35% in 2020, then lost 24.62% in 2022. The prospectus describes a 50-stock select index. Earlier returns may reflect a different version of the fund's index, so they may not show how the current approach behaves.
Is QQEW good for retirement?
QQEW may suit retirement savers as a smaller growth position rather than a core holding. It fell 58.2% during the 2008 crisis and about 30% in both 2020 and 2022. Its 0.13% yield, as of October 27, 2026, provides little income. Its 0.55% expense ratio ranks 8th of 9 among similar funds. Its strengths are equal weighting and a focus on profitable, growing Nasdaq companies. Past results don't predict future returns.