IQQ vs QQQM: Grades, Fees and Holdings Compared

iShares Nasdaq 100 ETF

IQQANasdaq

Invesco NASDAQ 100 ETF

QQQMANasdaq

Overlap

99.7%by weight

Both track Nasdaq-100 Index

Expense ratio

IQQ −0.05pt a year

IQQ0.10%QQQM0.15%

Avg volume · 30D

QQQM 2.8×the volume

IQQ1.1MQQQM3.07M

IQQ vs QQQM Performance

Aug 5, 2026 – Nov 5, 2026

−9.5%IQQ−9.6%QQQM

Expense ratio: IQQ 0.10%, better; QQQM 0.15%
Fund size: IQQ $769M; QQQM $107B
1Y total return: IQQ No data; QQQM +4.5%
Yield (12M): IQQ No data; QQQM 0.49%
Holdings: IQQ 103; QQQM 105
Avg volume (30D): IQQ 1.1M sh; QQQM 3.07M sh, better
NAV per share: IQQ $23.41; QQQM $284.83
52W range

ETF.net Grade

Pillar letters and Scores for IQQ, QQQM, with each pillar’s weight
Pillar	IQQ	QQQM
Cost30% weight	A88Higher	A74
Mission25% weight	Not scored	A100
Risk15% weight	C49	C50Higher
Tradability15% weight	B65	A88Higher
Holdings10% weight	B61	B61
Durability5% weight	B60	A76Higher

Rank among Nasdaq-100 funds

How we build Categories ›

Same Category. IQQ and QQQM are both graded against the same 10 Nasdaq-100 funds, so their Grades compare head to head.

Nasdaq-100⁠

Category · 10 funds

See all 10 ›

QQQM ranks 1st and IQQ 3rd of 10 funds in the Nasdaq-100 Category.

Rank 1AQQQMInvesco NASDAQ 100 ETFScore 77
Rank 2AQQQInvesco QQQ Trust, Series 1Score 75
Rank 3AIQQiShares Nasdaq 100 ETFScore 70
Rank 4BQNDXState Street SPDR Portfolio Nasdaq 100 ETFScore 67

Our read on each fund

ETF.net Research

IQQAiShares Nasdaq 100 ETF

QQQMAInvesco NASDAQ 100 ETF

In short

IQQ No data

QQQM The Nasdaq-100 in a thriftier wrapper. Launched in 2020, QQQM holds the same index as Invesco's famous original and charges 0.15% a year instead of 0.18%, built for people who buy and sit rather than trade.

Stated mandate

IQQ No data

QQQM The Fund seeks to track the performance of the NASDAQ-100 Index before fees and expenses by generally investing at least 90% of its assets in index securities.

Why people hold it

IQQ No data

QQQM Same NASDAQ-100 index as Invesco's original fund, for 0.15% instead of 0.18%. Identical mandate, smaller toll.invesco.com
Undercuts the typical Nasdaq-100 wrapper (cohort median 0.20%) and costs well under half the equal-weight version, QQQE, at 0.35%.
The mandate is literal: at least 90% of assets in index securities, tracking about 100 of the largest Nasdaq-listed non-financial companies.nasdaq.com
A multi-billion-dollar, actively traded fund and one of the stronger implementations in its Nasdaq-100 peer group.

Worth knowing

IQQ No data

QQQM The index excludes financial companies and requires a Nasdaq listing, so whole slices of the US market never show up here.nasdaq.com
Modified market-cap weighting means the biggest names carry the biggest weights, so a short list of mega-caps drives most of the ride.nasdaq.com
Distributions land quarterly, and the index selects on size, not dividends.nasdaq.com

Full IQQ profile⁠

Full QQQM profile⁠

IQQ vs QQQM Holdings

How IQQ and QQQM differ

Overlap by weight

99.7%

Shared holdings make up 99.9% of IQQ and 99.8% of QQQM.

Level by level

Sector10 Sectors98.4%
Asset classStocks100%
Countryby domicile99.98%
Holdings101 in both99.7%

Sector

Sector weights in IQQ and QQQM, widest gap first
Sector	Gap	IQQ	QQQM
Technology	QQQM +1.3 points	57.9%	59.2%
Consumer Discretionary	IQQ +0.5 points	11.0%	10.5%
Consumer Staples	IQQ +0.5 points	6.8%	6.3%
Health Care	IQQ +0.4 points	4.8%	4.4%
Industrials	QQQM +0.2 points	5.4%	5.6%
Communication	IQQ +0.2 points	11.1%	10.9%
Financials	QQQM +0.1 points	0.2%	0.3%
Utilities	IQQ +0.1 points	1.2%	1.1%
Materials	IQQ +0.1 points	1.1%	1.0%
Energy	Same weight	0.5%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in IQQ and QQQM, widest gap first
Country	Gap	IQQ	QQQM
United States	Same weight	97.3%	97.3%
Canada	Same weight	1.1%	1.1%
Netherlands	Same weight	0.9%	0.9%
Brazil	Same weight	0.4%	0.4%
China	Same weight	0.2%	0.2%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

IQQ46.9%
QQQM46.9%

Securities held

IQQ101
QQQM102

Asset class

IQQ: Stocks
QQQM: Stocks

Holdings

Only in IQQ0
In both101
Only in QQQM1

Only in IQQ

0 securities, 0.0% of IQQ by weight

Only in QQQM

1 security, 0.1% of QQQM by weight

Invesco Government & Agency Portfolio0.13%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in IQQ and QQQM, widest gap first
Holding	Gap	IQQ	QQQM
AppleAAPL	IQQ +0.01 points	8.28%	8.27%
Amgen IncAMGN	IQQ +0.01 points	1.17%	1.16%
Linde PLCLIN	QQQM +0.01 points	1.07%	1.08%
IntuitINTU	QQQM +0.01 points	0.43%	0.44%
MicrosoftMSFT	IQQ +0.01 points	6.70%	6.69%
Cadence Design SystemsCDNS	Same weight	0.41%	0.41%
Regeneron PharmaceuticalsREGN	QQQM +0.01 points	0.41%	0.42%
Advanced Micro DevicesAMD	QQQM +0.01 points	3.56%	3.57%
MercadolibreMELI	Same weight	0.39%	0.39%
Analog DevicesADI	QQQM +0.01 points	0.87%	0.88%
TeradyneTER	Same weight	0.18%	0.18%
Axon EnterpriseAXON	Same weight	0.15%	0.15%
Ross Stores IncROST	Same weight	0.35%	0.35%
Automatic Data Processing IncADP	IQQ +0.01 points	0.55%	0.54%
SandiskSNDK	QQQM +0.01 points	0.67%	0.68%
Lam ResearchLRCX	Same weight	1.24%	1.24%
Intuitive SurgicalISRG	IQQ +0.01 points	0.77%	0.76%
Applied Material IncAMAT	Same weight	1.31%	1.31%
Booking HoldingsBKNG	IQQ +0.01 points	0.58%	0.57%
Asml Holding Adr RepresentingASML	Same weight	0.63%	0.63%
Adobe IncADBE	IQQ +0.01 points	0.45%	0.44%
Tesla IncTSLA	IQQ +0.01 points	3.29%	3.28%
Meta Platforms Class AMETA	QQQM +0.01 points	3.03%	3.04%
Texas InstrumentTXN	Same weight	1.27%	1.27%
Airbnb Class AABNB	IQQ +0.01 points	0.34%	0.33%
Roper TechnologiesROP	QQQM +0.01 points	0.21%	0.22%
Amazon.com IncAMZN	IQQ +0.01 points	4.66%	4.65%
Broadcom IncAVGO	Same weight	2.51%	2.51%
Monolithic Power Systems IncMPWR	QQQM +0.01 points	0.27%	0.28%
Nxp Semiconductors NVNXPI	Same weight	0.30%	0.30%
Palantir Technologies Class APLTR	QQQM +0.01 points	1.76%	1.77%
Applovin Class AAPP	Same weight	0.37%	0.37%
Alnylam PharmaceuticalsALNY	Same weight	0.10%	0.10%
AutodeskADSK	IQQ +0.01 points	0.26%	0.25%
Old Dominion Freight LineODFL	Same weight	0.17%	0.17%
Costco Wholesale CorpCOST	Same weight	2.08%	2.08%
Shopify Subordinate Voting Class ASHOP	Same weight	0.83%	0.83%
Honeywell International IncHON	Same weight	0.32%	0.32%
Lumentum HoldingsLITE	Same weight	0.25%	0.25%
Arm Holdings American Depositary’sARM	Same weight	0.37%	0.37%
CintasCTAS	Same weight	0.41%	0.41%
Palo Alto NetworksPANW	Same weight	1.27%	1.27%
Astera LabsALAB	Same weight	0.17%	0.17%
Diamondback EnergyFANG	Same weight	0.23%	0.23%
Seagate Technology Holdings PLCSTX	Same weight	0.57%	0.57%
NVIDIANVDA	Same weight	7.82%	7.82%
Marvell TechnologyMRVL	Same weight	0.63%	0.63%
Constellation Energy CorpCEG	Same weight	0.39%	0.39%
Workday Class AWDAY	QQQM +0.01 points	0.17%	0.18%
Honeywell Aerospace IncHONA	Same weight	0.22%	0.22%
KlaKLAC	Same weight	0.88%	0.88%
Microchip Technology IncMCHP	IQQ +0.01 points	0.19%	0.18%
Strategy Inc Class AMSTR	Same weight	0.23%	0.23%
NetflixNFLX	Same weight	1.24%	1.24%
Marriott International Class AMAR	Same weight	0.50%	0.50%
Mondelez International Class AMDLZ	IQQ +0.01 points	0.39%	0.38%
Thomson Reuters CorpTRI	Same weight	0.20%	0.20%
Take Two Interactive SoftwareTTWO	IQQ +0.01 points	0.18%	0.17%
Western Digital CorpWDC	Same weight	0.52%	0.52%
FortinetFTNT	Same weight	0.43%	0.42%
WalmartWMT	Same weight	2.81%	2.81%
Starbucks CorpSBUX	Same weight	0.56%	0.56%
Alphabet Class CGOOG	IQQ +0.01 points	2.58%	2.57%
Space Exploration Technologies CorSPCX	Same weight	2.61%	2.61%
Ferrovial NVFER	Same weight	0.19%	0.19%
American Electric Power IncAEP	IQQ +0.01 points	0.32%	0.31%
Doordash Class ADASH	Same weight	0.36%	0.36%
PepsicoPEP	Same weight	0.87%	0.87%
Exelon CorpEXC	Same weight	0.21%	0.21%
Coca Cola Europacific Partners PLCCCEP	QQQM +0.01 points	0.22%	0.23%
Alphabet Class AGOOGL	Same weight	2.75%	2.75%
CsxCSX	Same weight	0.43%	0.43%
Crowdstrike Holdings Class ACRWD	IQQ +0.01 points	1.11%	1.10%
Coreweave Class ACRWV	Same weight	0.10%	0.10%
Vertex PharmaceuticalsVRTX	Same weight	0.62%	0.62%
Baker Hughes Class ABKR	Same weight	0.22%	0.22%
Micron TechnologyMU	Same weight	4.02%	4.02%
ModernaMRNA	Same weight	0.46%	0.46%
Dexcom IncDXCM	Same weight	0.15%	0.15%
Intel CorporationINTC	Same weight	1.37%	1.37%
Cisco Systems IncCSCO	Same weight	1.83%	1.83%
PaychexPAYX	Same weight	0.19%	0.19%
Copart IncCPRT	Same weight	0.14%	0.14%
Xcel Energy IncXEL	QQQM +0.01 points	0.22%	0.23%
Ge Healthcare TechnologiesGEHC	Same weight	0.17%	0.17%
PayPal HoldingsPYPL	Same weight	0.23%	0.23%
Gilead SciencesGILD	Same weight	0.97%	0.97%
Oreilly Automotive IncORLY	Same weight	0.33%	0.33%
T Mobile Us IncTMUS	Same weight	0.76%	0.76%
SynopsysSNPS	Same weight	0.40%	0.40%
Datadog Inc Class ADDOG	Same weight	0.28%	0.28%
Rocket Lab CorpRKLB	Same weight	0.14%	0.14%
Comcast Class ACMCSA	Same weight	0.39%	0.39%
Paccar IncPCAR	Same weight	0.25%	0.25%
Monster BeverageMNST	Same weight	0.43%	0.43%
FastenalFAST	Same weight	0.27%	0.27%
Pdd Holdings AdsPDD	Same weight	0.25%	0.25%
Nebius NV Class ANBIS	Same weight	0.15%	0.15%
Idexx LaboratoriesIDXX	Same weight	0.25%	0.25%
Keurig Dr Pepper IncKDP	Same weight	0.22%	0.22%

All 101 IQQ holdings⁠All 103 QQQM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IQQ vs QQQM Cost

Overpaying QQQM vs IQQ

$1,031

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IQQ 0.10%
$2,106
QQQM 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

IQQ 0.10%
QQQM 0.15%
Overpaying

Year by year

Year	IQQ	QQQM	Overpaying
10	$183	$274	$91
20	$717	$1,071	$354
30	$2,106	$3,137	$1,031

Expense ratio

0.10%IQQ, cheaper
0.15%QQQM

IQQ0.10%QQQM0.15%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

IQQ cheapest of 10 funds

QQQM 3rd cheapest of 10 funds

IQQ vs QQQM Dividends

Last 12 months to Nov 5, 2026

Yield (12M): IQQ No data; QQQM 0.49%
Payout (12M): IQQ No data; QQQM $1.32
Last payment: IQQ $0.02; QQQM $0.31
Ex-dividend: IQQ Sep 15, 2026; QQQM Sep 21, 2026
Paid on: IQQ Sep 18, 2026; QQQM Sep 25, 2026
Frequency: IQQ Irregular; QQQM Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

IQQIrregular · 1 paymentAll IQQ payments⁠

QQQMQuarterly · 24 paymentsAll QQQM payments⁠

IQQ vs QQQM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IQQ No dataQQQM 17.8%
Return per unit of riskSharpe ratio, 3 years: IQQ No dataQQQM 1.15
Worst fallMax drawdown, 5 years: IQQ No dataQQQM −35.0%
Market sensitivityBeta, 5 years: IQQ 2.08QQQM 1.23; Market = 1

IQQ and QQQM in the news

All news⁠

New ETFs
Franklin's new ETFs turn stock dividends into bitcoin, but still have to pay that income out
Oct 30, 2026QQQM
New ETFs
Liquid Strategies' new Nasdaq income ETF is selling S&P 500 puts
Oct 27, 2026QQQM
Deep Dive
SpaceX more than doubles its Nadaq-100 weighting as post-IPO lockups expire
Oct 23, 2026QQQM
Head-to-Head
New money goes to QQQM. A taxable QQQ holding can stay.
Oct 23, 2026QQQM
Head-to-Head
Own the Invesco NASDAQ 100 ETF rather than Invesco QQQ Trust, Series 1, unless you trade options
Oct 13, 2026QQQM
Head-to-Head
Invesco QQQ Trust, Series 1 vs Invesco NASDAQ 100 ETF: same stocks, cheaper unless you trade options
Oct 10, 2026QQQM

Popular comparisons

IQQAvsQQQA
iShares Nasdaq 100 ETF · Invesco QQQ Trust, Series 1
Expense ratio
0.10% · 0.18%
Category
QQQMAvsQQQA
Invesco NASDAQ 100 ETF · Invesco QQQ Trust, Series 1
Expense ratio
0.15% · 0.18%
Category
IQQAvsQNDXB
iShares Nasdaq 100 ETF · State Street SPDR Portfolio Nasdaq 100 ETF
Expense ratio
0.10% · 0.10%
Category
QQQMAvsQNDXB
Invesco NASDAQ 100 ETF · State Street SPDR Portfolio Nasdaq 100 ETF
Expense ratio
0.15% · 0.10%
Category
IQQAvsQQMGB
iShares Nasdaq 100 ETF · Invesco ESG NASDAQ 100 ETF
Expense ratio
0.10% · 0.20%
Category
QQQMAvsQQMGB
Invesco NASDAQ 100 ETF · Invesco ESG NASDAQ 100 ETF
Expense ratio
0.15% · 0.20%
Category

IQQ vs QQQM

In short

Stated mandate

Why people hold it