At a glance
QQXT charges 0.57% a year, above the 0.37% average of the 6 funds most like it (the 5th cheapest of 7). It has $165.9M in assets, the 5th largest of that group; it paid 1.27% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +0.6% with distributions reinvested (S&P 500: +11.5%), the weakest of those 7 funds; over three years it returned +10.8% a year. At its worst it fell 30.4% in the 2020 crash (S&P 500: 33.7%) and 23.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 13 months after the lows. Its ten largest positions make up 20.7% of the fund, out of 56 in all.
The short version
First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) holds the non-technology companies in the Nasdaq-100, such as Axon Enterprise, Vertex Pharmaceuticals and Monster Beverage, and gives each one roughly the same weight. It offers Nasdaq-listed retailers, beverage makers, industrial firms and drugmakers without the big tech names that dominate funds like Invesco QQQ. The trade-off is cost: its 0.57% expense ratio is above the 0.37% average of similar funds.
Price history
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QQXT +0.6% 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 | |
|---|---|---|---|---|---|---|
| QQXT official prospectus, to Dec 31, 2025 | — | +7.91% | — | +5.55% | +9.83% | +9.48% |
| QQXT price data to Oct 27, 2026 | +1.0% | +0.6% | +10.8% | +3.6% | +10.5% | +9.0% |
- Over the year to Oct 27, 2026, QQXT returned +0.6%, 7th of 7 among similar funds.
- Its 5-year annualized return was +3.6% and its 10-year +10.5%.
- In the 2020 COVID crash it fell 30.4% and regained its old high 2.4 months after the low.
- Its worst full calendar year was 2008 (-43.3%); its best was 2009 (+46.7%).
- The deepest fall in its price history was 57.5% (Oct 5, 2007 to Mar 9, 2009), recovered by Apr 6, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.0% | — |
| 2025 | +8.0% | +7.91% |
| 2024 | +6.7% | +6.73% |
| 2023 | +16.8% | +16.77% |
| 2022 | -13.1% | -12.85% |
| 2021 | +12.0% | +11.80% |
| 2020 | +36.8% | +36.48% |
| 2019 | +28.0% | +28.35% |
| 2018 | -5.8% | -5.58% |
| 2017 | +20.7% | +20.41% |
| 2016 | -2.3% | -2.13% |
| 2015 | +4.1% | — |
| 2014 | +16.1% | — |
| 2013 | +41.6% | — |
| 2012 | +20.2% | — |
| 2011 | -1.1% | — |
| 2010 | +20.4% | — |
| 2009 | +46.7% | — |
| 2008 | -43.3% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 57.4% over that stretch · deepest drop along the way 57.4%, back to its old high 24.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 30.4% over that stretch · deepest drop along the way 30.4%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 20% over that stretch · deepest drop along the way 23%, back to its old high 13 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.5800 | |
| 2025 | $1.2000 | +30.4% |
| 2024 | $0.9200 | -5.2% |
| 2023 | $0.9700 | +38.6% |
| 2022 | $0.7000 | +133.3% |
| 2021 | $0.3000 | +36.4% |
| 2020 | $0.2200 | +10.0% |
| 2019 | $0.2000 | +25.0% |
| 2018 | $0.1600 | +6.7% |
| 2017 | $0.1500 | +25.0% |
| 2016 | $0.1200 | -29.4% |
| 2015 | $0.1700 | -48.5% |
| 2014 | $0.3300 | +230.0% |
| 2013 | $0.1000 | -69.7% |
| 2012 | $0.3300 | +312.5% |
| 2011 | $0.0800 | -50.0% |
| 2010 | $0.1600 | +220.0% |
| 2009 | $0.0500 | +400.0% |
| 2008 | $0.0100 |
What's inside
As of Jun 30, 2026, the fund held 56 securities; the ten largest made up 20.68% of assets.
| Holding | Weight | |
|---|---|---|
| AXON ENTERPRISE INC | 2.33% | |
| TAKE-TWO INTERACTIVE SOFTWARE INC | 2.08% | |
| VERTEX PHARMACEUTICALS INC | 2.07% | |
| COCA-COLA EUROPACIFIC PARTNERS PLC | 2.06% | |
| MONSTER BEVERAGE CORP | 2.04% | |
| KEURIG DR PEPPER INC | 2.03% | |
| PACCAR INC | 2.03% | |
| FASTENAL COMPANY | 2.03% | |
| AMERICAN ELECTRIC POWER COMPANY INC | 2.01% | |
| AMGEN INC | 2.01% | |
| AIRBNB INC | 2.00% | |
| BOOKING HOLDINGS INC | 1.99% | |
| O'REILLY AUTOMOTIVE INC | 1.98% | |
| CSX CORP | 1.96% | |
| LINDE PLC | 1.94% |
By country
United States 94.09%United Kingdom 2.06%Ireland 1.94%Netherlands 1.88%By asset type
Stocks 99.98%RA 0%By sector
Sectors of the companies held, for the 84.4% 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 $14.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.69%, -1.12%, -0.43%.
How it works
The fund tracks the Nasdaq-100 Ex-Tech Sector Index, which Nasdaq, Inc. builds and maintains. The starting point is the Nasdaq-100, which measures 100 of the largest non-financial companies listed on Nasdaq, picked by market value (the total value of a company's shares). The index then removes every company that the Industry Classification Benchmark, a standard sector system, classifies as technology. As of March 31, 2026, 56 companies remained. Each gets an equal weight, so a smaller company counts as much as a giant one. The fund normally puts at least 90% of its net assets in these stocks.
The index is rebalanced every quarter, which resets each stock to equal weight. In practice, that means trimming stocks that have risen and adding to those that have lagged. Once a year, the index reviews which companies belong. The fund makes matching trades soon after Nasdaq announces changes. Its portfolio turnover was 16%, according to the prospectus filed April 30, 2026.
The fund owns ordinary shares and depositary receipts, which are certificates that represent shares of foreign companies. As of June 30, 2026, 94.1% of the fund was in US companies, and it held no derivatives. The prospectus also says the fund uses variable interest entities (shell companies that control Chinese businesses through contracts rather than direct ownership) to reach certain Chinese companies. The June 30, 2026 holdings showed no China exposure.
What it really costs
- QQXT charges 0.57% a year, versus an average of 0.37% for the similar funds below (5th of 7, cheapest first).
- Of that, 0.4% is the management fee; the rest covers other fund expenses.
In a retirement portfolio
It holds the non-tech half of the Nasdaq-100 in equal slices, which could offset a portfolio that is heavy in large technology stocks.
QQXT could balance tech-heavy holdings by adding Nasdaq-listed consumer, industrial, health care and utility companies. But it is still 100% stocks and can fall hard. It dropped 57.4% in the 2008 financial crisis and needed about 25 months to recover, getting back to its old high in April 2011. Its worst calendar year was 2008, at −43.3%. It fell 30.4% in the 2020 COVID crash and recovered in about 2.4 months. In 2022 it fell 23% and took 13 months to recover. Anyone who had to sell shares during those stretches would have locked in losses.
Its trailing 12-month yield was 1.27% as of October 27, 2026. It pays quarterly, so the income is modest. Its 0.57% expense ratio is above the 0.37% average of similar funds. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Owners of QQQ-style funds who want added Nasdaq-100 exposure to retailers, drugmakers, beverage makers and industrial firms rather than more big tech.
- Investors who prefer equal weighting: no single holding topped about 2.3% of assets as of June 30, 2026, and the top 10 made up about 21%.
- Long-term holders who can live through stock-market swings, including a 57.5% drop from 2007 to 2009 that took about 25 months to recover.
Look elsewhere if
- Cost-focused investors: the 0.57% expense ratio compares with 0.35% for Direxion's QQQE and 0.20% for Invesco QQQ.
- People seeking meaningful income, since the trailing yield was 1.27% as of October 27, 2026, paid quarterly.
- Investors who want the Nasdaq-100's tech-driven growth: QQXT returned 0.6% over the year to October 27, 2026, versus 10.8% for QQQ.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QQXT this fund | — | 0.57% | $165.9M | +0.6% | +10.8% |
| QQQE Direxion NASDAQ-100 Equal Weighted Index Sh… | 56% | 0.35% | $1.33B | +14.1% | +20.1% |
| QQLV Invesco QQQ Low Volatility ETF | 41% | 0.25% | $2.3M | +6.8% | — |
| QQEW First Trust Nasdaq-100 Equal Weighted Index… | 37% | 0.57% | $1.81B | +8.1% | +17.8% |
| QQQ Invesco QQQ Trust Series I | 27% | 0.2% | $490.10B | +8.8% | +24.0% |
| TUG STF Tactical Growth ETF | 26% | 0.65% | $34.3M | +16.4% | +25.0% |
| QQMG Invesco ESG NASDAQ 100 ETF | 24% | 0.2% | $200.0M | +16.4% | +29.5% |
Questions investors ask
What's the difference between QQXT and QQQE?
Both give each stock an equal weight, but QQQE holds the whole Nasdaq-100, while QQXT leaves out the technology companies. The two funds overlapped by about 56% in their latest holdings reports. QQQE costs 0.35% a year, compared with 0.57% for QQXT, and it is much larger, with $1.33 billion in net assets versus $166 million. As of October 27, 2026, QQQE returned 14.1% over one year, compared with 0.6% for QQXT.
Does QQXT pay dividends?
Yes. QQXT pays dividends quarterly. Its trailing 12-month yield was 1.27% as of October 27, 2026. The dividends come from the companies it holds, such as Amgen, American Electric Power, PACCAR and Keurig Dr Pepper. That level of income is modest, and the fund's 0.57% expense ratio uses up part of it. The fund aims to grow in value rather than produce income.
What are QQXT's top holdings?
As of June 30, 2026, QQXT's largest holdings were Axon Enterprise, Take-Two Interactive, Vertex Pharmaceuticals, Coca-Cola Europacific Partners, Monster Beverage, Keurig Dr Pepper, PACCAR, Fastenal, American Electric Power and Amgen. Because the index weights stocks equally, each was close to 2% of the fund, and the top 10 made up about 21%. The fund held 56 companies. By sector, its largest exposures were consumer discretionary, consumer staples and industrials.
How has QQXT performed over 10 years?
QQXT returned an average of 9.83% a year over the 10 years ending December 31, 2025, according to its prospectus. Over five years, it returned 5.55% a year, and in 2025 it returned 7.91%. Its worst recent calendar year was 2022, at −12.85%. Over the three years to October 27, 2026, its return trailed every similar fund it was compared with, including Invesco QQQ and First Trust's QQEW.
Is QQXT good for retirement?
It depends on the role. QQXT could diversify a portfolio that is heavy in tech stocks, but it carries full stock-market risk. It fell 57.4% in the 2008 financial crisis and took about 25 months to recover. In 2022 it fell 23%. Its yield was 1.27% as of October 27, 2026, paid quarterly. It costs 0.57% a year, above the 0.37% average of similar funds.