At a glance
QQQH charges 0.68% a year, above the 0.53% average of the 8 funds most like it (the 7th cheapest of 9). It has $389.0M in assets, the 4th largest of that group; it paid 8.21% of its price in distributions over the past 12 months, monthly. Over the past year it returned +7.4% with distributions reinvested (S&P 500: +11.5%), 5th of those 9 funds. Its ten largest positions make up 45.2% of the fund, out of 102 in all.
The short version
NEOS Nasdaq 100 Hedged Equity Income ETF (QQQH) holds the stocks in the Nasdaq-100 Index and adds an options "collar". It sells call and put options for income and buys put options for partial downside protection. It aims for high monthly income and yielded 8.21% over the 12 months to October 27, 2026. The trade-offs are capped gains and a 0.68% fee, which is above the 0.53% average for similar funds.
Price history
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QQQH +7.4% 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 | |
|---|---|---|---|---|---|---|
| QQQH official prospectus, to Dec 31, 2025 | — | +13.78% | — | +8.10% | — | +9.91% |
| QQQH price data to Oct 27, 2026 | +8.0% | +7.4% | — | — | — | +11.6% |
- Over the year to Oct 27, 2026, QQQH returned +7.4%, 5th of 9 among similar funds.
- The deepest fall in its price history was 14.1% (Feb 21, 2025 to Apr 8, 2025), recovered by Jun 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +8.0% | — |
| 2024 | — | +25.64% |
| 2023 | — | +31.51% |
| 2022 | — | -28.62% |
| 2021 | — | +9.42% |
| 2020 | — | +19.15% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Feb 21, 2025 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts Feb 21, 2025 |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.6800 |
What's inside
As of Jun 30, 2026, the fund held 102 securities; the ten largest made up 45.21% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 7.60% | |
| Apple Inc | 6.70% | |
| Micron Technology Inc | 5.67% | |
| Microsoft Corp | 4.41% | |
| Advanced Micro Devices Inc | 4.13% | |
| Amazon.com Inc | 4.06% | |
| Tesla Inc | 3.28% | |
| Alphabet Inc | 3.27% | |
| Intel Corp | 3.07% | |
| Alphabet Inc | 3.03% | |
| Broadcom Inc | 2.82% | |
| Meta Platforms Inc | 2.64% | |
| Applied Materials Inc | 2.49% | |
| Walmart Inc | 2.40% | |
| Lam Research Corp | 2.35% |
By country
United States 96.14%Netherlands 1.57%Canada 0.74%United Kingdom 0.43%Uruguay 0.37%By asset type
Stocks 99.49%By sector
Sectors of the companies held, for the 89.9% 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 $14.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.24%, +4.80%, +0.36%.
How it works
QQQH is an actively managed ETF run by NEOS Investment Management. Its stock portfolio follows the Nasdaq-100 Index, which tracks 100 of the largest non-financial companies listed on the Nasdaq Stock Market, weighted by market value. The fund generally holds every index stock in about the same proportions. It may use a representative sample instead when owning every stock is impractical or costly. It rebalances its stocks whenever the index updates its membership, which happens annually and often quarterly.
The fund also runs a "put spread collar" on the Nasdaq-100. It sells call options on up to 100% of its stock value to collect premium. A sold call hands away gains above a set "strike" price. It spends part of that premium buying put options, which gain value if the index falls below their strike. It also sells lower-strike puts for extra premium, aiming to take in more than the bought puts cost. As of June 30, 2026, the fund held index options expiring July 17, 2026: a bought put at 28,750, a sold put at 26,800 and a sold call at 31,100.
The hedge covers only a band of losses. If the index falls below the sold put's strike, the fund bears further declines. A rules-based model may close sold calls early to capture more upside or lock in premium. Stock dividends plus option premiums pay the monthly income.
What it really costs
- QQQH charges 0.68% a year, versus an average of 0.53% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $69 in the first year and $847 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QQQH | $69 | $218 | $379 | $847 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
The fund is built to pay high monthly income from Nasdaq-100 stocks, giving up some upside to get it.
QQQH could add monthly income to a portfolio while keeping exposure to large Nasdaq-100 companies. Its yield over the past 12 months was 8.21% as of October 27, 2026, or about $4.50 per share. It costs 0.68% a year, against a 0.53% average for similar funds. The fund launched after the 2008 crisis. Its prospectus shows a 19.15% gain in 2020, the year of the COVID crash. But it lost 28.62% in 2022, its worst calendar year, and its worst quarter was a 20.14% drop in mid-2022. The hedge offers only partial protection. In price data starting in February 2025, its deepest fall was 14.1%, from February 21 to April 8, 2025, and it recovered by June 3, 2025. Drawing income in a year like 2022 could mean selling shares at a loss. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking monthly income from Nasdaq-100 stocks. The fund yielded 8.21% over the 12 months to October 27, 2026.
- People willing to give up gains above the sold call strike in exchange for put options that soften part of a decline.
- Those comfortable with heavy tech exposure. NVIDIA, Apple and Micron were the top three holdings as of June 30, 2026.
Look elsewhere if
- Cost-focused investors: the 0.68% fee ranks 7th of 9 similar funds, and GPIQ charges 0.29%.
- Anyone counting on strong crash protection: the prospectus shows a 28.62% loss in 2022.
- Investors who want the full upside of the Nasdaq-100, or income taxed as qualified dividends. Sold calls cap gains, and option income is taxed differently.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QQQH this fund | — | 0.68% | $389.0M | +7.4% | — |
| QQQI NEOS Nasdaq 100 High Income ETF | 99% | 0.68% | $13.11B | +5.8% | — |
| SEPQ STF Tactical Growth & Income ETF | 95% | 0.65% | $80.1M | +14.2% | +24.1% |
| GPIQ Nasdaq-100 Core Premium Income ETF | 95% | 0.29% | $5.11B | +16.1% | +25.6% |
| QYLD Global X NASDAQ 100 Covered Call ETF | 93% | 0.6% | $8.09B | +18.9% | +17.4% |
| QYLG Global X Nasdaq 100 Covered Call & Growth E… | 92% | 0.35% | $158.3M | +17.3% | +23.1% |
| QRMI Global X NASDAQ 100 Risk Managed Income ETF | 92% | 0.6% | $14.3M | +5.1% | +9.2% |
| QCLR Global X NASDAQ 100 Collar 95-110 ETF | 91% | 0.25% | $3.3M | -0.6% | +15.2% |
Questions investors ask
Does QQQH pay monthly dividends?
Yes. QQQH pays distributions every month. Over the 12 months to October 27, 2026, it paid about $4.50 per share, a yield of 8.21%. The money comes from the dividends on its Nasdaq-100 stocks plus the net premiums from its options trades. The prospectus says option premiums are expected to produce capital gains or losses for tax purposes rather than qualified dividends. Monthly amounts can change with market conditions.
What's the difference between QQQH and QQQI?
Both are NEOS funds that charge 0.68% a year, and their stock holdings overlapped by 99% in their June 30, 2026 reports. Their one-year returns matched at 7.4% as of late October 2026. The biggest visible difference is size: QQQI had about $13.1 billion in net assets, against about $389 million for QQQH. QQQH's prospectus describes a put spread collar, which is where "Hedged" in its name comes from. Each fund's prospectus explains its own options approach.
Is QQQH good for retirement income?
It may suit retirees who want high monthly income and accept the trade-offs. It yielded 8.21% over the 12 months to October 27, 2026. But its sold calls cap gains, its 0.68% fee is above the 0.53% average for similar funds, and the hedge is only partial. Its prospectus shows a 28.62% loss in 2022. Someone drawing income in a year like that could end up selling shares at depressed prices.
How does QQQH protect against losses?
QQQH buys put options on the Nasdaq-100, which gain value when the index drops below their strike price. It also sells puts at a lower strike to help pay for them, so the protection stops below that level. As of June 30, 2026, the bought puts were at 28,750 and the sold puts at 26,800. The prospectus calls this "a measure of downside protection." The fund's worst quarter was still a 20.14% drop, in the second quarter of 2022.
What is the expense ratio of QQQH?
QQQH's expense ratio is 0.68%, according to its prospectus filed April 30, 2026. In the SEC's standard example ($10,000 invested, 5% annual return), costs come to about $69 after one year, $218 after three, $379 after five and $847 after ten. Similar funds averaged 0.53%. GPIQ charges 0.29%, QYLD 0.60% and QHDG 0.79%. QQQH ranks 7th of 9 on cost.