At a glance
QQQ charges 0.18% a year, above the 0.1% average of the 8 funds most like it (the 7th cheapest of 9). It has $490.10B in assets, the 4th largest of that group; it paid 0.45% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +8.8% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds; over three years it returned +24.0% a year. At its worst it fell 28.6% in the 2020 crash (S&P 500: 33.7%) and 34.3% 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 45.0% of the fund, out of 102 in all.
The short version
Invesco QQQ Trust Series I (QQQ) tracks the Nasdaq-100 Index: 100 of the largest non-financial companies listed on Nasdaq, led by NVIDIA, Apple and Micron as of June 30, 2026. Technology made up about 54% of assets, so it is a concentrated bet, not a slice of the whole stock market. Its annual fee of 0.18% is higher than the 0.15% on Invesco's QQQM, whose holdings overlap 91%.
Price history
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QQQ +8.8% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| QQQ official prospectus, to Dec 31, 2024 | — | +25.58% | — | +19.94% | +18.28% | — |
| QQQ price data to Nov 2, 2026 | +11.2% | +8.8% | +24.0% | +12.5% | +20.3% | +15.3% |
- Over the year to Nov 2, 2026, QQQ returned +8.8%, 6th of 9 among similar funds.
- Its 5-year annualized return was +12.5% and its 10-year +20.3%.
- In the 2020 COVID crash it fell 28.6% and regained its old high 2.6 months after the low.
- Its worst full calendar year was 2008 (-41.7%); its best was 2023 (+54.9%).
- The deepest fall in its price history was 53.4% (Oct 31, 2007 to Nov 20, 2008), recovered by Dec 10, 2010.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.2% | — |
| 2025 | +20.8% | — |
| 2024 | +25.6% | +25.58% |
| 2023 | +54.9% | +54.73% |
| 2022 | -32.6% | -32.51% |
| 2021 | +27.4% | +27.25% |
| 2020 | +48.6% | +48.63% |
| 2019 | +39.0% | +39.12% |
| 2018 | -0.1% | -0.13% |
| 2017 | +32.7% | +32.72% |
| 2016 | +7.1% | +7.01% |
| 2015 | +9.4% | +9.53% |
| 2014 | +19.2% | — |
| 2013 | +36.6% | — |
| 2012 | +18.1% | — |
| 2011 | +3.4% | — |
| 2010 | +19.9% | — |
| 2009 | +54.7% | — |
| 2008 | -41.7% | — |
| 2007 | +19.0% | — |
| 2006 | +7.1% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 51.6% over that stretch · deepest drop along the way 53.4%, back to its old high 24.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 27.9% over that stretch · deepest drop along the way 28.6%, back to its old high 2.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.3% over that stretch · deepest drop along the way 34.3%, back to its old high 14 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.2900 | |
| 2025 | $2.7900 | -1.8% |
| 2024 | $2.8400 | +11.8% |
| 2023 | $2.5400 | +18.7% |
| 2022 | $2.1400 | +26.6% |
| 2021 | $1.6900 | -2.3% |
| 2020 | $1.7300 | +9.5% |
| 2019 | $1.5800 | +12.1% |
| 2018 | $1.4100 | +8.5% |
| 2017 | $1.3000 | +4.0% |
| 2016 | $1.2500 | +13.6% |
| 2015 | $1.1000 | -24.7% |
| 2014 | $1.4600 | +64.0% |
| 2013 | $0.8900 | +8.5% |
| 2012 | $0.8200 | +78.3% |
| 2011 | $0.4600 | +27.8% |
| 2010 | $0.3600 | +71.4% |
| 2009 | $0.2100 | +61.5% |
| 2008 | $0.1300 | -13.3% |
| 2007 | $0.1500 | +17.2% |
| 2006 | $0.1280 |
Living on QQQ: its income record, cuts, and how much a $1,000 monthly income takes →
What's inside
As of Jun 30, 2026, the fund held 102 securities; the ten largest made up 45% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp. | 7.60% | |
| Apple Inc. | 6.67% | |
| Micron Technology, Inc. | 5.64% | |
| Microsoft Corp. | 4.35% | |
| Advanced Micro Devices, Inc. | 4.10% | |
| Amazon.com, Inc. | 4.02% | |
| Tesla, Inc. | 3.30% | |
| Alphabet Inc. Class A | 3.27% | |
| Intel Corp. | 3.04% | |
| Alphabet Inc. Class C | 3.02% | |
| Broadcom Inc. | 2.81% | |
| Meta Platforms, Inc. | 2.62% | |
| Applied Materials, Inc. | 2.49% | |
| Walmart Inc. | 2.39% | |
| Lam Research Corp. | 2.35% |
By country
United States 94.57%Ireland 1.98%Netherlands 1.57%United Kingdom 0.84%Canada 0.74%By asset type
Stocks 99.93%By sector
Sectors of the companies held, for the 89.3% 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 added a net $10.84B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +15.66%, +10.60%, -0.21%.
How it works
QQQ aims to match the Nasdaq-100 Index before fees, not beat it. Nasdaq, Inc. maintains the index, which includes 100 of the largest U.S. and international companies listed on the Nasdaq Stock Market, ranked by market capitalization (the total value of a company's shares). Companies classified as financials, real estate investment trusts and special purpose acquisition companies are excluded. Foreign firms can qualify through American Depositary Receipts, U.S.-traded certificates representing their shares.
The index uses “modified market-cap” weighting, a hybrid of equal weighting and size-based weighting. Bigger companies get bigger slices, but no stock may exceed 24% of the index. The top 10 holdings still made up 45% of the fund as of June 30, 2026, led by NVIDIA at 7.6%, Apple at 6.7% and Micron at 5.6%. The fund is “non-diversified,” so it may hold more of a few companies than a diversified fund could.
The fund uses full replication, owning every index stock in proportion to its weight. It trades mainly to follow index changes, such as additions and removals, and keeps a lagging stock as long as the index does. Portfolio turnover (the share of holdings replaced in a year) was a low 7.98%, according to the prospectus filed December 19, 2025. Fees and trading costs mean its return can differ from the index's.
What it really costs
- QQQ charges 0.18% a year, versus an average of 0.1% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $18 in the first year and $230 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QQQ | $18 | $58 | $101 | $230 |
In a retirement portfolio
Invesco's QQQ tracks the Nasdaq-100 Index, with about 54% in technology stocks and NVIDIA, Apple and Micron as its largest holdings as of June 30, 2026, so it can swing more sharply than the broad market.
QQQ could add growth potential, but its tech tilt has meant steep falls. In price history back to 2005, its deepest drop, 53.4% in the 2008 financial crisis, took about 25 months to recover. Its worst calendar year was 2008, down 41.7%. It lost 28.6% in the 2020 COVID crash but recovered in under three months; the 2022 slide of 34.3% took 14 months to recover. Selling shares for living costs in such slumps would lock in losses.
Income is small: the yield was 0.43% as of October 27, 2026, paid quarterly. The yearly fee, or expense ratio, is 0.18%; in the SEC's standard $10,000 example, that comes to $18 in the first year and $230 over 10 years. Similar funds average 0.10%, and Invesco's Nasdaq 100 ETF (QQQM) charges 0.15%. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one fund holding the Nasdaq-100, led by NVIDIA, Apple, Micron and Microsoft, with about 54% in technology as of June 30, 2026.
- Investors adding a tech-heavy tilt to an S&P 500 fund, accepting that QQQ's holdings overlap about 55% with SPY and VOO.
- Long-term investors who can ride out deep drops, like the 34.3% fall from January to October 2022, which took 14 more months to recover.
Look elsewhere if
- Cost-focused investors: QQQ charges 0.18%, versus 0.15% for QQQM, which overlaps 91%, and 0.03% for S&P 500 funds VOO and IVV.
- Retirees needing steady income: the trailing yield was 0.45% as of October 30, 2026, so withdrawals would mostly mean cashing in shares.
- Investors wanting broad diversification: the top 10 holdings were 45% of assets as of June 30, 2026, and the index excludes financial companies.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QQQ this fund | — | 0.18% | $490.10B | +8.8% | +24.0% |
| QQQM Invesco NASDAQ 100 ETF | 91% | 0.15% | $104.38B | +8.8% | +24.1% |
| QQMG Invesco ESG NASDAQ 100 ETF | 86% | 0.2% | $200.0M | +16.4% | +29.5% |
| VUG Vanguard Growth ETF | 59% | 0.04% | $379.29B | +3.8% | +25.1% |
| IWF iShares Russell 1000 Growth ETF | 58% | 0.19% | $128.90B | -3.7% | +20.3% |
| XLK Technology Select Sector SPDR Fund | 58% | 0.08% | $123.91B | +20.1% | +4.0% |
| SPY SPDR S&P 500 ETF Trust | 55% | 0.0945% | $781.19B | +11.5% | +21.9% |
| VOO Vanguard S&P 500 ETF | 55% | 0.03% | $1.67T | +12.4% | +23.6% |
Compared head to head: QQQ vs QQQM · QQQ vs VOO · all comparisons →
Questions investors ask
What's the difference between QQQ and QQQM?
The main difference in the numbers is cost. QQQ charges 0.18% a year, while Invesco NASDAQ 100 ETF (QQQM) charges 0.15%. Their holdings overlapped 91% in the latest reports filed with the SEC, and their one-year returns through October 30, 2026, were nearly identical: 10.8% for QQQ and 10.9% for QQQM. QQQ is far larger, with $490.1 billion in net assets as of June 30, 2026, versus $104.4 billion for QQQM as of August 31, 2026.
Is QQQ good for retirement?
It can serve as a growth holding, but it offers little income and large swings. Its trailing 12-month yield was 0.45% as of October 30, 2026. It fell 53.4% from October 2007 to November 2008 and took about 25 months from that low to recover, and it dropped 34.3% from January to October 2022. With about 54% in technology as of June 30, 2026, it may suit retirees as one part of a mix with broader stock and bond funds rather than as a sole holding.
Does QQQ pay dividends?
Yes, QQQ pays dividends quarterly, but they are small. Over the 12 months to October 30, 2026, it paid $3.08 per share, for a yield of 0.45%. Its heavy weighting in technology companies, which often reinvest profits instead of paying large dividends, helps explain the low payout. Retirees who need regular income would likely have to cash in shares or rely on higher-yielding holdings.
What is QQQ's average annual return?
QQQ returned an average of 18.28% a year over the 10 years ended December 31, 2024, and 19.94% a year over five years, according to its prospectus. Those averages hide big swings: the fund gained 48.63% in 2020 and lost 32.51% in 2022. Based on market prices, it returned 20.2% a year over the 10 years through October 30, 2026, and 13% a year over five years. Past returns do not predict future results.
What's the difference between QQQ and VOO?
VOO tracks the S&P 500, while QQQ follows the narrower Nasdaq-100, which leaves out financial companies and leans heavily on technology. VOO is cheaper, at 0.03% a year versus 0.18% for QQQ, and their holdings overlap about 55%. Neither has led every period: over the year through October 30, 2026, VOO returned 12.4% and QQQ 10.8%, but over three years QQQ averaged 26.2% a year to VOO's 23.6%.