At a glance
QQQJ charges 0.15% a year, below the 0.25% average of the 6 funds most like it (the 2nd cheapest of 7). It has $1.19B in assets, the 4th largest of that group; it paid 0.76% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +22.9% with distributions reinvested (S&P 500: +11.5%), 3rd of those 7 funds; over three years it returned +26.4% a year. At its worst it fell 34.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 28 months after the low. Its ten largest positions make up 19.6% of the fund, out of 105 in all.
The short version
Invesco NASDAQ Next Gen 100 ETF (QQQJ) tracks the Nasdaq Next Generation 100 Index. That index holds roughly the 100 largest Nasdaq-listed non-financial companies just outside the Nasdaq-100, such as Natera, eBay and Credo Technology. Its 0.15% expense ratio is below the 0.25% average of similar funds. The trade-off is a bumpy ride: the fund fell 28.1% in 2022.
Price history
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QQQJ +22.9% 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 | |
|---|---|---|---|---|---|---|
| QQQJ official prospectus, to Dec 31, 2024 | — | +15.44% | — | — | — | +4.29% |
| QQQJ price data to Oct 27, 2026 | +22.1% | +22.9% | +26.4% | +6.4% | — | +6.1% |
- Over the year to Oct 27, 2026, QQQJ returned +22.9%, 3rd of 7 among similar funds.
- Its 5-year annualized return was +6.4%.
- Its worst full calendar year was 2022 (-28.2%); its best was 2025 (+20.5%).
- The deepest fall in its price history was 39.6% (Nov 16, 2021 to Oct 14, 2022), recovered by Sep 5, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +22.1% | — |
| 2025 | +20.5% | — |
| 2024 | +15.4% | +15.44% |
| 2023 | +13.7% | +13.56% |
| 2022 | -28.2% | -28.12% |
| 2021 | — | +9.68% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.2% over that stretch · deepest drop along the way 34.2%, back to its old high 28.3 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2700 | |
| 2025 | $0.3200 | +28.0% |
| 2024 | $0.2500 | +38.9% |
| 2023 | $0.1800 | -5.3% |
| 2022 | $0.1900 |
What's inside
As of Aug 31, 2026, the fund held 105 securities; the ten largest made up 19.55% of assets. It also reported 14.8% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Natera, Inc. | 2.27% | |
| eBay Inc. | 2.26% | |
| Revolution Medicines, Inc. | 2.15% | |
| Credo Technology Group Holding Ltd. | 2.05% | |
| Flex Ltd. | 1.97% | |
| NetApp, Inc. | 1.80% | |
| MongoDB, Inc. | 1.79% | |
| Expedia Group, Inc. | 1.79% | |
| Kimberly-Clark Corp. | 1.76% | |
| United Airlines Holdings, Inc. | 1.72% | |
| Steel Dynamics, Inc. | 1.65% | |
| Elbit Systems Ltd. | 1.60% | |
| Illumina, Inc. | 1.59% | |
| Biogen Inc. | 1.57% | |
| Atlassian Corp. | 1.52% |
By country
United States 79.57%Cayman Islands 6.53%Israel 3.45%Singapore 1.97%Netherlands 1.4%By asset type
Stocks 99.91%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $72.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.90%, -3.24%, +3.21%.
How it works
QQQJ is an index fund. It aims to match the Nasdaq Next Generation 100 Index, which Nasdaq, Inc. builds and maintains. To qualify, a company must meet the same rules used for the Nasdaq-100. Nasdaq then ranks the eligible companies by market value (share price times shares outstanding) and picks about the 100 largest that are not already in the Nasdaq-100. Financial companies, REITs (real estate investment trusts) and SPACs (blank-check companies) are excluded. Foreign companies listed on Nasdaq can qualify, including some from emerging markets, often through American Depositary Receipts. As of October 31, 2025, the index had 109 companies, valued from $133.5 million to $124.2 billion.
The index uses "modified market-cap weighting," a mix of equal weighting and size-based weighting. No single company can exceed 4%. As of August 31, 2026, the fund's largest holding, Natera, was 2.3% of assets, and the top 10 made up 19.6%.
The fund buys every stock in the index in the same proportions, a method called full replication. It keeps at least 90% of its assets in index stocks and holds no derivatives. It doesn't sell a lagging stock unless the index drops it. A company that grows big enough to join the Nasdaq-100 no longer qualifies. Portfolio turnover was 27%, according to the prospectus filed December 18, 2025.
What it really costs
- QQQJ charges 0.15% a year, versus an average of 0.25% for the similar funds below (2nd of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $15 in the first year and $192 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QQQJ | $15 | $48 | $85 | $192 |
In a retirement portfolio
It focuses on mid-sized, growth-leaning Nasdaq companies that have swung more than the broad market, so it fits better as a smaller add-on than as a foundation.
QQQJ could add the tier of Nasdaq companies just below the Nasdaq-100 for 0.15% a year. In the SEC's standard example, that comes to $15 in the first year and $192 over 10 years on $10,000. The fund launched in October 2020, so it has no record from the 2008 crisis or the 2020 crash. In the 2022 bear market it fell 34.2% and didn't regain its peak until February 2025, about 28 months later. Its deepest drop was 39.6%, from November 2021 to October 2022, and recovery took nearly 35 months. Anyone selling shares to cover spending during a stretch like that would lock in losses. Income is small: the trailing yield was 0.76% as of October 27, 2026, paid quarterly. 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 who own a Nasdaq-100 fund and want the next 100 Nasdaq-listed companies by size, for 0.15% a year.
- Long-term holders who can ride out drops like the 39.6% fall in 2021–2022, which took nearly 35 months to recover.
- People who want broad spread: about 105 holdings, no company above 4% of the index, and a top 10 near 20%.
Look elsewhere if
- Retirees who need steady income. The trailing yield was just 0.76% as of October 27, 2026.
- Cost-focused mid-cap investors. Schwab US Mid-Cap ETF (SCHM) charges 0.04%, though only about 14% of its holdings overlap with QQQJ's.
- Those who want financial stocks or REITs, which the index excludes, or a fund with a record through 2008 and 2020.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QQQJ this fund | — | 0.15% | $1.19B | +22.9% | +26.4% |
| QQJG Invesco ESG NASDAQ Next Gen 100 ETF | 49% | 0.2% | $6.9M | +1.4% | +18.1% |
| IBBQ Invesco Nasdaq Biotechnology ETF | 19% | 0.19% | $96.4M | +36.3% | +26.1% |
| FLQM Franklin U.S. Mid Cap Multifactor Index ETF | 15% | 0.3% | $1.53B | +10.8% | +16.3% |
| SCHM Schwab US Mid-Cap ETF | 14% | 0.04% | $14.86B | +20.5% | +18.9% |
| JHMM John Hancock Multifactor Mid Cap ETF | 14% | 0.42% | $5.81B | +13.2% | +19.7% |
| BBH VanEck Biotech ETF | 14% | 0.35% | $395.6M | +41.0% | +20.9% |
Questions investors ask
Is QQQJ the same as the Nasdaq-100?
No. QQQJ, the Invesco NASDAQ Next Gen 100 ETF, tracks the Nasdaq Next Generation 100 Index. That index holds roughly the largest 100 non-financial companies listed on Nasdaq that are not in the Nasdaq-100. Think of it as the next tier down in size. No company may make up more than 4% of the index. As of August 31, 2026, the largest holdings were Natera, eBay, Revolution Medicines, Credo Technology and Flex, at about 2% each. The top 10 made up 19.55% of the fund.
What is QQQJ's expense ratio?
QQQJ's expense ratio is 0.15% a year, according to its prospectus filed December 18, 2025. The expense ratio is the yearly fee taken out of fund assets. The SEC's standard example assumes $10,000 invested with a 5% annual return. On that basis, the fund would cost $15 over one year, $85 over five years and $192 over 10 years. That fee is below the 0.25% average for similar funds. Schwab US Mid-Cap ETF (SCHM) charges just 0.04%. However, it is a general fund of mid-sized companies and shares only 14% of QQQJ's holdings.
Does QQQJ pay dividends?
Yes, every quarter, but the payouts are small. QQQJ paid about $0.34 per share over the year to October 27, 2026, a trailing yield of 0.76%. Trailing yield is the past year's dividends divided by the share price. As of August 31, 2025, the fund had significant exposure to information technology. Companies in that sector often reinvest their profits instead of paying large dividends. Investors who rely on portfolio income would get little from QQQJ, so it is worth comparing with dividend-focused funds for that role.
Is QQQJ good for retirement?
It can play a role, but as a growth holding, not as a source of income or stability. Its beta, a measure of how strongly a fund reacts to market moves, was 1.29 for the year to October 27, 2026. That means it swung more than the market. Its worst drop was 39.6%, from November 16, 2021 to October 14, 2022. It did not recover until September 5, 2025. It may suit retirees with a long time horizon who want a small, low-cost slice of mid-sized Nasdaq companies.
What's the difference between QQQJ and QQJG?
The main difference is ESG screening. QQJG, the Invesco ESG NASDAQ Next Gen 100 ETF, applies environmental, social and governance (ESG) standards. Among similar funds, it has the most holdings in common with QQQJ. QQQJ costs less, at 0.15% a year versus 0.20%. It is also far larger: about $1.19 billion in net assets as of August 31, 2026, versus about $6.9 million for QQJG as of November 30, 2025. Over the year to October 27, 2026, QQQJ returned 22.9% and QQJG returned 1.4%.