QNDX vs QQQ: Grades, Fees and Holdings Compared

State Street SPDR Portfolio Nasdaq 100 ETF

QNDXBNasdaq

Invesco QQQ Trust, Series 1

QQQANasdaq

Overlap

99.8%by weight

Expense ratio

QNDX −0.08pt a year

QNDX0.10%QQQ0.18%

Avg volume · 30D

QQQ 49.9×the volume

QNDX744KQQQ37.1M

QNDX vs QQQ Performance

Aug 5, 2026 – Nov 5, 2026

−9.6%QNDX−9.7%QQQ

Expense ratio: QNDX 0.10%, better; QQQ 0.18%
Fund size: QNDX $675M; QQQ $469B
1Y total return: QNDX No data; QQQ +4.3%
Yield (12M): QNDX No data; QQQ 0.48%
Holdings: QNDX 103; QQQ 105
Avg volume (30D): QNDX 744K sh; QQQ 37.1M sh, better
NAV per share: QNDX $23.43; QQQ $691.74
52W range

ETF.net Grade

Pillar letters and Scores for QNDX, QQQ, with each pillar’s weight
Pillar	QNDX	QQQ
Cost30% weight	A88Higher	B64
Mission25% weight	Not scored	A100
Risk15% weight	C50	C50
Tradability15% weight	B57	A93Higher
Holdings10% weight	B61	B61
Durability5% weight	C44	A81Higher

Rank among Nasdaq-100 funds

How we build Categories ›

Same Category. QNDX and QQQ 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 ›

QQQ ranks 2nd and QNDX 4th 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
Rank 5BQQMGInvesco ESG NASDAQ 100 ETFScore 59

Our read on each fund

ETF.net Research

QNDXBState Street SPDR Portfolio Nasdaq 100 ETF

QQQAInvesco QQQ Trust, Series 1

In short

QNDX No data

QQQ The 1999 original. QQQ tracks the Nasdaq-100, roughly 100 of the largest non-financial companies listed on the Nasdaq, and has become one of the most heavily traded funds on the market.

Stated mandate

QNDX No data

QQQ The trust is designed to match the pre-expense investment performance of the Nasdaq-100 Index.

Why people hold it

QNDX No data

QQQ Launched in 1999, it is one of the longest-running ETFs in the US and one of the most actively traded, which usually means tight spreads and easy fills at size.
The mandate is simple: match the Nasdaq-100 before expenses. Tracking has stayed about as close to the index as this structure allows.
At 0.18%, the fee sits below the typical Nasdaq-100 tracker, and the fund is one of the largest ETFs in existence.
The index screens out financial companies, so you own Nasdaq-listed tech, consumer and healthcare heavyweights rather than a broad slice of the market.nasdaq.com

Worth knowing

QNDX No data

QQQ Invesco's own QQQM follows the same index for 0.15%. QQQ's edge is trading depth, not price.
About 100 market-cap-weighted names with no financials: the biggest few carry a lot of the index, and sector swings land harder than in a total-market fund.nasdaq.com
Income is a side effect here, not the point. Distributions are paid quarterly and the index leans toward growth companies.nasdaq.com

Full QNDX profile⁠

Full QQQ profile⁠

QNDX vs QQQ Holdings

How QNDX and QQQ differ

Overlap by weight

99.8%

Shared holdings make up 99.9% of QNDX and 99.8% of QQQ.

Level by level

Sector10 Sectors98.4%
Asset classStocks100%
Countryby domicile99.98%
Holdings101 in both99.8%

Sector

Sector weights in QNDX and QQQ, widest gap first
Sector	Gap	QNDX	QQQ
Technology	QQQ +1.4 points	57.9%	59.3%
Consumer Staples	QNDX +0.5 points	6.8%	6.3%
Consumer Discretionary	QNDX +0.5 points	11.0%	10.5%
Health Care	QNDX +0.4 points	4.8%	4.4%
Industrials	QQQ +0.2 points	5.4%	5.6%
Communication	QNDX +0.1 points	11.1%	11.0%
Utilities	QNDX +0.1 points	1.2%	1.1%
Materials	QNDX +0.1 points	1.1%	1.0%
Energy	Same weight	0.5%	0.5%
Financials	Same weight	0.2%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in QNDX and QQQ, widest gap first
Country	Gap	QNDX	QQQ
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

QNDX46.9%
QQQ46.9%

Securities held

QNDX101
QQQ101

Asset class

QNDX: Stocks
QQQ: Stocks

Holdings

Only in QNDX0
In both101
Only in QQQ0

Only in QNDX

0 securities, 0.0% of QNDX by weight

Only in QQQ

0 securities, 0.0% of QQQ by weight

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QNDX and QQQ, widest gap first
Holding	Gap	QNDX	QQQ
Costco Wholesale CorpCOST	QNDX +0.01 points	2.09%	2.08%
Micron Technology IncMU	QNDX +0.01 points	4.03%	4.02%
NVIDIA CorpNVDA	QNDX +0.01 points	7.83%	7.82%
Regeneron PharmaceuticalsREGN	QNDX +0.01 points	0.43%	0.42%
Apple IncAAPL	QNDX +0.01 points	8.28%	8.27%
Asml Holding NV Ny Reg ShsASML	Same weight	0.63%	0.63%
Vertex Pharmaceuticals IncVRTX	QNDX +0.01 points	0.63%	0.62%
Sandisk CorpSNDK	Same weight	0.68%	0.68%
Axon Enterprise IncAXON	QNDX +0.01 points	0.16%	0.15%
Tesla IncTSLA	Same weight	3.28%	3.28%
Microsoft CorpMSFT	QNDX +0.01 points	6.70%	6.69%
Palo Alto Networks IncPANW	Same weight	1.27%	1.27%
Amazon.com IncAMZN	QNDX +0.01 points	4.66%	4.65%
Roper Technologies IncROP	QQQ +0.01 points	0.21%	0.22%
Idexx Laboratories IncIDXX	QQQ +0.01 points	0.24%	0.25%
Space Exploration Techn Class ASPCX	Same weight	2.61%	2.61%
Mercadolibre IncMELI	Same weight	0.39%	0.39%
Crowdstrike Holdings Inc ACRWD	QNDX +0.01 points	1.11%	1.10%
Walmart IncWMT	Same weight	2.81%	2.81%
Amgen IncAMGN	Same weight	1.16%	1.16%
Marriott International Class AMAR	QQQ +0.01 points	0.49%	0.50%
Palantir Technologies Inc APLTR	Same weight	1.77%	1.77%
Seagate Technology HoldingsSTX	Same weight	0.57%	0.57%
Intuit IncINTU	Same weight	0.44%	0.44%
Broadcom IncAVGO	Same weight	2.51%	2.51%
Automatic Data ProcessingADP	Same weight	0.54%	0.54%
Meta Platforms Inc Class AMETA	Same weight	3.04%	3.04%
Nxp Semiconductors NVNXPI	Same weight	0.30%	0.30%
Teradyne IncTER	QQQ +0.01 points	0.17%	0.18%
Workday Inc Class AWDAY	Same weight	0.18%	0.18%
Monolithic Power Systems IncMPWR	Same weight	0.28%	0.28%
Ross Stores IncROST	Same weight	0.35%	0.35%
Take Two Interactive SoftwreTTWO	QNDX +0.01 points	0.18%	0.17%
T Mobile Us IncTMUS	QNDX +0.01 points	0.77%	0.76%
Adobe IncADBE	Same weight	0.44%	0.44%
Moderna IncMRNA	Same weight	0.46%	0.46%
Cisco Systems IncCSCO	Same weight	1.83%	1.83%
Analog Devices IncADI	Same weight	0.88%	0.88%
Texas Instruments IncTXN	Same weight	1.27%	1.27%
Lumentum Holdings IncLITE	Same weight	0.25%	0.25%
Western Digital CorpWDC	Same weight	0.52%	0.52%
Intel CorpINTC	Same weight	1.37%	1.37%
Ferrovial NVFER	Same weight	0.19%	0.19%
Diamondback Energy IncFANG	Same weight	0.23%	0.23%
Thomson Reuters CorpTRI	Same weight	0.20%	0.20%
Starbucks CorpSBUX	Same weight	0.56%	0.56%
Arm Holdings PLC AdrARM	QNDX +0.01 points	0.38%	0.37%
Alphabet Inc Class AGOOGL	Same weight	2.75%	2.75%
Old Dominion Freight LineODFL	Same weight	0.17%	0.17%
Coca Cola Europacific PartneCCEP	Same weight	0.23%	0.23%
Honeywell International IncHON	Same weight	0.32%	0.32%
Cadence Design Sys IncCDNS	Same weight	0.41%	0.41%
Csx CorpCSX	Same weight	0.43%	0.43%
Xcel Energy IncXEL	Same weight	0.23%	0.23%
Shopify Inc Class ASHOP	Same weight	0.83%	0.83%
Booking Holdings IncBKNG	QNDX +0.01 points	0.58%	0.57%
Dexcom IncDXCM	Same weight	0.15%	0.15%
Synopsys IncSNPS	Same weight	0.40%	0.40%
Astera Labs IncALAB	Same weight	0.17%	0.17%
Fastenal CoFAST	Same weight	0.27%	0.27%
Alphabet Inc Class CGOOG	QNDX +0.01 points	2.58%	2.57%
Lam Research CorpLRCX	Same weight	1.24%	1.24%
Constellation EnergyCEG	Same weight	0.39%	0.39%
Exelon CorpEXC	Same weight	0.21%	0.21%
Honeywell Aerospace IncHONA	Same weight	0.22%	0.22%
Strategy IncMSTR	Same weight	0.23%	0.23%
Applied Materials IncAMAT	Same weight	1.31%	1.31%
Paychex IncPAYX	Same weight	0.19%	0.19%
Autodesk IncADSK	Same weight	0.25%	0.25%
Netflix IncNFLX	Same weight	1.24%	1.24%
Ge Healthcare TechnologyGEHC	Same weight	0.17%	0.17%
Comcast Corp Class ACMCSA	Same weight	0.39%	0.39%
Applovin Corp Class AAPP	Same weight	0.37%	0.37%
Doordash Inc ADASH	Same weight	0.36%	0.36%
PayPal Holdings IncPYPL	Same weight	0.23%	0.23%
Linde PLCLIN	Same weight	1.08%	1.08%
O Reilly Automotive IncORLY	Same weight	0.33%	0.33%
Intuitive Surgical IncISRG	Same weight	0.76%	0.76%
Qualcomm IncQCOM	Same weight	0.81%	0.81%
Paccar IncPCAR	Same weight	0.25%	0.25%
Rocket Lab CorpRKLB	Same weight	0.14%	0.14%
Keurig Dr Pepper IncKDP	Same weight	0.22%	0.22%
Mondelez International Inc AMDLZ	QNDX +0.01 points	0.39%	0.38%
Coreweave Inc Class ACRWV	Same weight	0.10%	0.10%
Cintas CorpCTAS	Same weight	0.41%	0.41%
Fortinet IncFTNT	QNDX +0.01 points	0.43%	0.42%
Datadog Inc Class ADDOG	Same weight	0.28%	0.28%
American Electric PowerAEP	Same weight	0.31%	0.31%
Marvell Technology IncMRVL	Same weight	0.63%	0.63%
Microchip Technology IncMCHP	Same weight	0.18%	0.18%
Advanced Micro DevicesAMD	Same weight	3.57%	3.57%
Pepsico IncPEP	Same weight	0.87%	0.87%
Airbnb Inc Class AABNB	Same weight	0.33%	0.33%
Alnylam Pharmaceuticals IncALNY	Same weight	0.10%	0.10%
Nebius Group NVNBIS	Same weight	0.15%	0.15%
Kla CorpKLAC	Same weight	0.88%	0.88%
Baker Hughes CoBKR	Same weight	0.22%	0.22%
Gilead Sciences IncGILD	Same weight	0.97%	0.97%
Copart IncCPRT	Same weight	0.14%	0.14%
Monster Beverage CorpMNST	Same weight	0.43%	0.43%

All 101 QNDX holdings⁠All 102 QQQ 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.

QNDX vs QQQ Cost

Overpaying QQQ vs QNDX

$1,643

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

QNDX 0.10%
$2,106
QQQ 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

QNDX 0.10%
QQQ 0.18%
Overpaying

Year by year

Year	QNDX	QQQ	Overpaying
10	$183	$328	$145
20	$717	$1,281	$564
30	$2,106	$3,749	$1,643

Expense ratio

0.10%QNDX, cheaper
0.18%QQQ

QNDX0.10%QQQ0.18%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

QNDX cheapest of 10 funds

QQQ 4th cheapest of 10 funds

QNDX vs QQQ Dividends

Last 12 months to Nov 5, 2026

Yield (12M): QNDX No data; QQQ 0.48%
Payout (12M): QNDX No data; QQQ $3.09
Last payment: QNDX $0.03; QQQ $0.75
Ex-dividend: QNDX Sep 21, 2026; QQQ Sep 21, 2026
Paid on: QNDX Sep 23, 2026; QQQ Oct 8, 2026
Frequency: QNDX Irregular; QQQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QNDXIrregular · 1 paymentAll QNDX payments⁠

QQQQuarterly · 40 paymentsAll QQQ payments⁠

QNDX vs QQQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: QNDX No dataQQQ 17.8%
Return per unit of riskSharpe ratio, 3 years: QNDX No dataQQQ 1.14
Worst fallMax drawdown, 5 years: QNDX No dataQQQ −35.1%
Market sensitivityBeta, 5 years: QNDX 1.73QQQ 1.23; Market = 1

QNDX and QQQ in the news

All news⁠

Opening Bell
October jobs report tests bets on a December rate increase
6 hours agoQQQ
Top Movers
Chip stocks dragged the Nasdaq down 5.5% into a correction
20 hours agoQQQ
Closing Bell
Dow leaps 3.03%, oil falls over 8% after Democrats win Congress
Nov 4, 2026QQQ
New ETFs
Five new ETFs from VanEck, XFUNDS, Tuttle, Tema and THOR do not share a market
Nov 4, 2026QQQ
Closing Bell
Chip Stocks Lift Nasdaq, Apple Drags Dow, AMD Jumps After the Bell
Nov 3, 2026QQQ
Top Movers
Oil plunges on Iran talks as tech stocks fall again
Nov 2, 2026QQQ

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QNDX vs QQQ

In short

Stated mandate

Why people hold it

Worth knowing

How QNDX and QQQ differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QNDX

Only in QQQ

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

October jobs report tests bets on a December rate increase

Chip stocks dragged the Nasdaq down 5.5% into a correction

Dow leaps 3.03%, oil falls over 8% after Democrats win Congress

Five new ETFs from VanEck, XFUNDS, Tuttle, Tema and THOR do not share a market

Chip Stocks Lift Nasdaq, Apple Drags Dow, AMD Jumps After the Bell

Oil plunges on Iran talks as tech stocks fall again