IQQQ vs QQA: Grades, Fees and Holdings Compared

ProShares Nasdaq-100 High Income ETF

IQQQBNasdaq

Invesco QQQ Income Advantage ETF

QQAANasdaq

Overlap

75.3%by weight

Expense ratio

QQA −0.26pt a year

IQQQ0.55%QQA0.29%

Avg volume · 30D

QQA 2.5×the volume

IQQQ47.7KQQA119K

IQQQ vs QQA Performance

Oct 31, 2025 – Nov 2, 2026

+3.6%IQQQ+8.4%QQA

Expense ratio: IQQQ 0.55%; QQA 0.29%, better
Fund size: IQQQ $377M; QQA $894M
1Y total return: IQQQ +3.6%; QQA +8.4%, better
Yield (12M): IQQQ 7.18%; QQA 10.61%, better
Holdings: IQQQ 102; QQA 123
Avg volume (30D): IQQQ 47.7K sh; QQA 119K sh, better
NAV per share: IQQQ $45.53; QQA $53.44
52W range

ETF.net Grade

Pillar letters and Scores for IQQQ, QQA, with each pillar’s weight
Pillar	IQQQ	QQA
Cost30% weight	A70	A92Higher
Mission25% weight	A89	A100Higher
Risk15% weight	D32	B67Higher
Tradability15% weight	A73Higher	B64
Holdings10% weight	C45	B69Higher
Durability5% weight	B65	A74Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. IQQQ and QQA are both graded against the same 30 Nasdaq-100 Option Income funds, so their Grades compare head to head.

Nasdaq-100 Option Income⁠

Category · 30 funds

See all 30 ›

QQA ranks 2nd and IQQQ 10th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 84
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 3AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 79
Rank 9BROCQJPMorgan Nasdaq Equity Premium Yield ETFScore 69
Rank 10BIQQQProShares Nasdaq-100 High Income ETFScore 66
Rank 10BQRMIGlobal X Nasdaq 100 Risk Managed Income ETFScore 66

Our read on each fund

ETF.net Research

IQQQBProShares Nasdaq-100 High Income ETF

QQAAInvesco QQQ Income Advantage ETF

In short

IQQQ ProShares runs the covered-call playbook on a daily clock: IQQQ sells calls on the Nasdaq-100 that expire every session, then pays out monthly with a stated floor of 6% annualized income. Big-tech exposure with a rent check attached.

QQA Most Nasdaq-100 income funds write calls on the whole portfolio. QQA overlays options on roughly half, pairs covered calls with cash-secured puts, and ladders them, so a chunk of the index upside stays uncapped.

Stated mandate

IQQQ IQQQ seeks high income through a daily covered-call strategy while pursuing long-term total returns consistent with the Nasdaq-100 Index.

QQA Actively managed QQA combines Nasdaq-100 equity exposure with an options-income overlay. It seeks consistent monthly income, long-term capital growth, and lower volatility without leverage.

Why people hold it

IQQQ Sells Nasdaq-100 calls that expire daily rather than monthly, so premium is harvested every session and the option positions reset constantly.proshares.com
ProShares states a target of at least 6% annualized income, paid monthly. Most peers just pay what the options market gives them that month.proshares.com
0.55% a year undercuts the median fee in its Nasdaq-100 income cohort, and it sits in the upper half of that 27-fund group on our review.
Holds roughly 100 stocks and keeps chasing Nasdaq-100 total return alongside the income, so it stays a growth-index fund with a yield overlay, not a bond substitute.

QQA The income sleeve covers roughly 50% of the portfolio; the rest stays uncapped Nasdaq-100. Premium comes from both covered calls and cash-secured puts, not calls alone.invesco.com
0.29% net of a waiver through August 31, 2027 (0.33% gross), below the category median. GPIQ matches at 0.29%, also net of a waiver, through April 30, 2027; QYLD charges 0.60%, JEPQ 0.35%.
Options are added and rolled on a schedule rather than set all at once, which spreads entry points instead of pinning the month's income to a single expiry.invesco.com
Actively managed, so strikes and coverage can move with market conditions, and it pays monthly.

Worth knowing

IQQQ Written calls hand away part of a strong Nasdaq rally. The income is paid for with upside.proshares.com
ProShares discloses that distributions can include return of capital, meaning some of a payout may be your own money coming back.proshares.com
Launched in 2024, so the record is short, and cheaper Nasdaq-100 income rivals exist: QQA at 0.33%, GPIQ and JEPQ at 0.35%.

QQA The flip side of premium: upside on the covered portion is capped, so a fast Nasdaq-100 rally is one this fund is built to lag.invesco.com
No declared target yield. Monthly payouts ride on option premiums, which rise and fall with volatility.
Mid-sized and moderately traded next to the category's largest names, so spreads can widen. Limit orders earn their keep.

Full IQQQ profile⁠

Full QQA profile⁠

IQQQ vs QQA Holdings

How IQQQ and QQA differ

Overlap by weight

75.3%

Shared holdings make up 86.1% of IQQQ and 75.3% of QQA.

Level by level

Holdings101 in both75.3%
Sector10 Sectors85.5%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in IQQQ and QQA, widest gap first
Sector	More in IQQQMore in QQA	IQQQ	QQA
Financials	IQQQ +14.5 points	14.7%	0.2%
Technology	QQA +8.5 points	50.4%	58.9%
Consumer Discretionary	QQA +1.9 points	9.0%	10.9%
Communication	QQA +1.9 points	9.5%	11.4%
Consumer Staples	QQA +0.8 points	5.5%	6.3%
Health Care	QQA +0.6 points	3.8%	4.4%
Industrials	QQA +0.4 points	4.9%	5.3%
Utilities	QQA +0.2 points	0.9%	1.1%
Materials	QQA +0.1 points	0.9%	1.0%
Energy	QQA +0.1 points	0.4%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in IQQQ and QQA, widest gap first
Country	More in IQQQMore in QQA	IQQQ	QQA
United States	Same weight	97.3%	97.3%
Canada	Same weight	1.1%	1.1%
Netherlands	QQA +0.1 points	0.8%	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

IQQQ53.0%
QQA53.6%

Securities held

IQQQ102
QQA122

Asset class

IQQQ: Equity
QQA: Equity

Holdings

Only in IQQQ1
In both101
Only in QQA21

Only in IQQQ

1 security, 15.1% of IQQQ by weight

Proshares Genius Mny Mkt Etf15.12%

Only in QQA

21 securities, 24.7% of QQA by weight

Invesco Premier US Government Money Portfolio20.46%
Toronto-Dominion Bank/The 148.80% 11/30/20260.40%
Royal Bank of Canada 163.05% 11/27/20260.37%
Citigroup Inc 154.75% 12/01/20260.33%
Canadian Imperial Bank of Commerce 143.00% 12/03/20260.31%
Royal Bank of Canada 171.13% 11/25/20260.30%
UBS Group AG 215.53% 11/20/20260.24%
Wells Fargo & Co 187.87% 11/23/20260.23%
Wells Fargo & Co 185.69% 11/24/20260.23%
UBS Group AG 215.54% 11/16/20260.19%
UBS Group AG 222.11% 11/16/20260.19%
Royal Bank of Canada 210.38% 11/19/20260.19%
Royal Bank of Canada 210.42% 11/18/20260.19%
BNP Paribas SA 205.15% 11/17/20260.18%
UBS Group AG 255.80% 11/12/20260.16%
Wells Fargo & Co 234.39% 11/13/20260.15%
BNP Paribas SA 245.48% 11/10/20260.13%
UBS Group AG 225.13% 11/09/20260.12%
Citigroup Inc 270.51% 11/05/20260.12%
Barclays Bank PLC 245.00% 11/04/20260.10%
UBS Group AG 265.52% 11/06/20260.09%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in IQQQ and QQA, widest gap first
Holding	More in IQQQMore in QQA	IQQQ	QQA
Apple IncAAPL	IQQQ +0.89 points	7.05%	6.16%
NVIDIA CorpNVDA	IQQQ +0.87 points	6.91%	6.04%
Microsoft CorpMSFT	IQQQ +0.68 points	5.43%	4.75%
Micron Technology IncMU	IQQQ +0.48 points	3.86%	3.38%
Amazon.com IncAMZN	IQQQ +0.45 points	3.63%	3.17%
Advanced Micro DevicesAMD	IQQQ +0.40 points	3.19%	2.79%
Tesla IncTSLA	IQQQ +0.37 points	2.94%	2.57%
Meta Platforms Inc-Class AMETA	IQQQ +0.32 points	2.56%	2.24%
Walmart IncWMT	IQQQ +0.29 points	2.32%	2.03%
Alphabet Inc-Cl AGOOGL	IQQQ +0.29 points	2.30%	2.01%
Space Exploration Techn-Cl ASPCX	IQQQ +0.28 points	2.23%	1.95%
Broadcom IncAVGO	IQQQ +0.27 points	2.17%	1.90%
Alphabet Inc-Cl CGOOG	IQQQ +0.27 points	2.15%	1.88%
Costco Wholesale CorpCOST	IQQQ +0.22 points	1.74%	1.52%
Palantir Technologies Inc-APLTR	IQQQ +0.21 points	1.64%	1.43%
Cisco Systems IncCSCO	IQQQ +0.20 points	1.59%	1.39%
Intel CorpINTC	IQQQ +0.17 points	1.34%	1.17%
Applied Materials IncAMAT	IQQQ +0.15 points	1.20%	1.05%
Lam Research CorpLRCX	IQQQ +0.15 points	1.16%	1.01%
Palo Alto Networks IncPANW	IQQQ +0.14 points	1.15%	1.01%
Texas Instruments IncTXN	IQQQ +0.13 points	1.06%	0.93%
Netflix IncNFLX	IQQQ +0.13 points	1.00%	0.87%
Crowdstrike Holdings Inc - ACRWD	IQQQ +0.12 points	0.99%	0.87%
Amgen IncAMGN	IQQQ +0.12 points	0.97%	0.85%
Linde PLCLIN	IQQQ +0.12 points	0.92%	0.80%
Gilead Sciences IncGILD	IQQQ +0.10 points	0.82%	0.72%
Kla CorpKLAC	IQQQ +0.10 points	0.80%	0.70%
Analog Devices IncADI	IQQQ +0.10 points	0.78%	0.68%
Shopify Inc - Class ASHOP	IQQQ +0.10 points	0.74%	0.64%
Pepsico IncPEP	IQQQ +0.09 points	0.72%	0.63%
Qualcomm IncQCOM	IQQQ +0.08 points	0.67%	0.59%
Sandisk CorpSNDK	IQQQ +0.08 points	0.65%	0.57%
Marvell Technology IncMRVL	IQQQ +0.09 points	0.67%	0.58%
T-Mobile Us IncTMUS	IQQQ +0.08 points	0.65%	0.57%
Intuitive Surgical IncISRG	IQQQ +0.07 points	0.59%	0.52%
Asml Holding Nv-Ny Reg ShsASML	IQQQ +0.07 points	0.57%	0.50%
Seagate Technology HoldingsSTX	IQQQ +0.08 points	0.57%	0.49%
Vertex Pharmaceuticals IncVRTX	IQQQ +0.07 points	0.55%	0.48%
Western Digital CorpWDC	IQQQ +0.06 points	0.51%	0.45%
Starbucks CorpSBUX	IQQQ +0.06 points	0.46%	0.40%
Automatic Data ProcessingADP	IQQQ +0.06 points	0.45%	0.39%
Booking Holdings IncBKNG	IQQQ +0.05 points	0.43%	0.38%
Marriott International -Cl AMAR	IQQQ +0.05 points	0.40%	0.35%
Fortinet IncFTNT	IQQQ +0.05 points	0.39%	0.34%
Adobe IncADBE	IQQQ +0.04 points	0.38%	0.34%
Csx CorpCSX	IQQQ +0.04 points	0.37%	0.33%
Regeneron PharmaceuticalsREGN	IQQQ +0.04 points	0.36%	0.32%
Intuit IncINTU	IQQQ +0.04 points	0.36%	0.32%
Constellation EnergyCEG	IQQQ +0.05 points	0.36%	0.31%
Monster Beverage CorpMNST	IQQQ +0.05 points	0.36%	0.31%
Moderna IncMRNA	IQQQ +0.04 points	0.34%	0.30%
Cadence Design Sys IncCDNS	IQQQ +0.04 points	0.35%	0.31%
Synopsys IncSNPS	IQQQ +0.05 points	0.35%	0.30%
Arm Holdings Plc-AdrARM	IQQQ +0.05 points	0.35%	0.30%
Cintas CorpCTAS	IQQQ +0.04 points	0.34%	0.30%
Mondelez International Inc-AMDLZ	IQQQ +0.04 points	0.32%	0.28%
Comcast Corp-Class ACMCSA	IQQQ +0.04 points	0.32%	0.28%
Mercadolibre IncMELI	IQQQ +0.04 points	0.32%	0.28%
Datadog Inc - Class ADDOG	IQQQ +0.03 points	0.30%	0.27%
Lumentum Holdings IncLITE	IQQQ +0.04 points	0.29%	0.25%
Ross Stores IncROST	IQQQ +0.03 points	0.28%	0.25%
Doordash Inc - ADASH	IQQQ +0.03 points	0.28%	0.25%
O'reilly Automotive IncORLY	IQQQ +0.04 points	0.28%	0.24%
American Electric PowerAEP	IQQQ +0.03 points	0.27%	0.24%
Honeywell International IncHON	IQQQ +0.04 points	0.27%	0.23%
Applovin Corp-Class AAPP	IQQQ +0.03 points	0.27%	0.24%
Airbnb Inc-Class AABNB	IQQQ +0.04 points	0.27%	0.23%
Nxp Semiconductors NVNXPI	IQQQ +0.03 points	0.25%	0.22%
Monolithic Power Systems IncMPWR	IQQQ +0.03 points	0.23%	0.20%
Diamondback Energy IncFANG	IQQQ +0.03 points	0.23%	0.20%
Fastenal CoFAST	IQQQ +0.03 points	0.23%	0.20%
Baker Hughes CoBKR	IQQQ +0.02 points	0.21%	0.19%
Paccar IncPCAR	IQQQ +0.03 points	0.21%	0.18%
Pdd Holdings IncPDD	IQQQ +0.02 points	0.20%	0.18%
Autodesk IncADSK	IQQQ +0.02 points	0.20%	0.18%
Xcel Energy IncXEL	IQQQ +0.02 points	0.19%	0.17%
Coca-Cola Europacific PartneCCEP	IQQQ +0.02 points	0.19%	0.17%
Honeywell Aerospace IncHONA	IQQQ +0.02 points	0.19%	0.17%
Keurig Dr Pepper IncKDP	IQQQ +0.03 points	0.19%	0.16%
PayPal Holdings IncPYPL	IQQQ +0.03 points	0.19%	0.16%
Strategy IncMSTR	IQQQ +0.02 points	0.18%	0.16%
Exelon CorpEXC	IQQQ +0.02 points	0.18%	0.16%
Roper Technologies IncROP	IQQQ +0.02 points	0.18%	0.16%
Thomson Reuters CorpTRI	IQQQ +0.02 points	0.17%	0.15%
Astera Labs IncALAB	IQQQ +0.02 points	0.17%	0.15%
Idexx Laboratories IncIDXX	IQQQ +0.02 points	0.17%	0.15%
Teradyne IncTER	IQQQ +0.03 points	0.17%	0.14%
Microchip Technology IncMCHP	IQQQ +0.02 points	0.16%	0.14%
Ferrovial NVFER	IQQQ +0.02 points	0.16%	0.14%
Paychex IncPAYX	IQQQ +0.02 points	0.15%	0.13%
Workday Inc-Class AWDAY	IQQQ +0.02 points	0.15%	0.13%
Nebius Group NVNBIS	IQQQ +0.02 points	0.14%	0.12%
Old Dominion Freight LineODFL	IQQQ +0.02 points	0.14%	0.12%
Take-Two Interactive SoftwreTTWO	IQQQ +0.02 points	0.14%	0.12%
Axon Enterprise IncAXON	IQQQ +0.01 points	0.13%	0.12%
Ge Healthcare TechnologyGEHC	IQQQ +0.01 points	0.13%	0.12%
Rocket Lab CorpRKLB	IQQQ +0.02 points	0.13%	0.11%
Dexcom IncDXCM	IQQQ +0.02 points	0.12%	0.10%
Copart IncCPRT	IQQQ +0.02 points	0.11%	0.09%
Coreweave Inc-Cl ACRWV	IQQQ +0.01 points	0.10%	0.09%

All 107 IQQQ holdings⁠All 122 QQA 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.

IQQQ vs QQA Cost

Overpaying IQQQ vs QQA

$4,952

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

IQQQ 0.55%
$10,904
QQA 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

IQQQ 0.55%
QQA 0.29%
Overpaying

Year by year

Year	IQQQ	QQA	Overpaying
10	$988	$527	$461
20	$3,790	$2,044	$1,746
30	$10,904	$5,952	$4,952

Expense ratio

0.55%IQQQ
0.29%QQA, cheaper

QQA0.29%IQQQ0.55%

0.00%1.20%

Middle half of Nasdaq-100 Option Income funds
Median 0.71%

QQA 2nd cheapest of 30 funds

IQQQ 9th cheapest of 30 funds

IQQQ vs QQA Dividends

Last 12 months to Nov 2, 2026

Yield (12M): IQQQ 7.18%; QQA 10.61%, better
Payout (12M): IQQQ $3.21; QQA $5.62
Last payment: IQQQ $0.23; QQA $0.47
Ex-dividend: IQQQ Nov 2, 2026; QQA Oct 19, 2026
Paid on: IQQQ Pays Nov 6, 2026; QQA Oct 23, 2026
Frequency: IQQQ Monthly; QQA Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

IQQQMonthly · 31 paymentsAll IQQQ payments⁠

QQAMonthly · 27 paymentsAll QQA payments⁠

IQQQ vs QQA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IQQQ 16.7%since Apr 2024QQA 13.1%since Aug 2024
Return per unit of riskSharpe ratio, 3 years: IQQQ 0.65since Apr 2024QQA 0.91since Aug 2024
Worst fallMax drawdown, 5 years: IQQQ −20.4%since Mar 2024QQA −19.7%since Jul 2024
Market sensitivityBeta, 5 years: IQQQ 1.16QQA 0.92; Market = 1

Popular comparisons

IQQQBvsGPIQA
ProShares Nasdaq-100 High Income ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.55% · 0.29%
Category
QQAAvsGPIQA
Invesco QQQ Income Advantage ETF · Goldman Sachs Nasdaq-100 Premium Income ETF
Expense ratio
0.29% · 0.29%
Category
IQQQBvsJEPQA
ProShares Nasdaq-100 High Income ETF · JPMorgan Nasdaq Equity Premium Income ETF
Expense ratio
0.55% · 0.35%
Category
QQAAvsJEPQA
Invesco QQQ Income Advantage ETF · JPMorgan Nasdaq Equity Premium Income ETF
Expense ratio
0.29% · 0.35%
Category
IQQQBvsQYLDA
ProShares Nasdaq-100 High Income ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.55% · 0.60%
Category
QQAAvsQYLDA
Invesco QQQ Income Advantage ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.29% · 0.60%
Category