QNDX vs QQQM: Grades, Fees and Holdings Compared

State Street SPDR Portfolio Nasdaq 100 ETF

QNDXBNasdaq

Invesco NASDAQ 100 ETF

QQQMANasdaq

Overlap

99.8%by weight

Expense ratio

QNDX −0.05pt a year

QNDX0.10%QQQM0.15%

Avg volume · 30D

QQQM 4.1×the volume

QNDX744KQQQM3.07M

QNDX vs QQQM Performance

Aug 5, 2026 – Nov 5, 2026

−9.6%QNDX−9.6%QQQM

Expense ratio: QNDX 0.10%, better; QQQM 0.15%
Fund size: QNDX $675M; QQQM $107B
1Y total return: QNDX No data; QQQM +4.5%
Yield (12M): QNDX No data; QQQM 0.49%
Holdings: QNDX 103; QQQM 105
Avg volume (30D): QNDX 744K sh; QQQM 3.07M sh, better
NAV per share: QNDX $23.43; QQQM $284.83
52W range

ETF.net Grade

Pillar letters and Scores for QNDX, QQQM, with each pillar’s weight
Pillar	QNDX	QQQM
Cost30% weight	A88Higher	A74
Mission25% weight	Not scored	A100
Risk15% weight	C50	C50
Tradability15% weight	B57	A88Higher
Holdings10% weight	B61	B61
Durability5% weight	C44	A76Higher

Rank among Nasdaq-100 funds

How we build Categories ›

Same Category. QNDX 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 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

QQQMAInvesco NASDAQ 100 ETF

In short

QNDX 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

QNDX 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

QNDX 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

QNDX 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 QNDX profile⁠

Full QQQM profile⁠

QNDX vs QQQM Holdings

How QNDX and QQQM differ

Overlap by weight

99.8%

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

Level by level

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

Sector

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

Country, concentration and asset class

Country by domicile

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

QNDX46.9%
QQQM46.9%

Securities held

QNDX101
QQQM102

Asset class

QNDX: Stocks
QQQM: Stocks

Holdings

Only in QNDX0
In both101
Only in QQQM1

Only in QNDX

0 securities, 0.0% of QNDX 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 QNDX and QQQM, widest gap first
Holding	Gap	QNDX	QQQM
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%
Sandisk CorpSNDK	Same weight	0.68%	0.68%
Vertex Pharmaceuticals IncVRTX	QNDX +0.01 points	0.63%	0.62%
Axon Enterprise IncAXON	QNDX +0.01 points	0.16%	0.15%
Roper Technologies IncROP	QQQM +0.01 points	0.21%	0.22%
Palo Alto Networks IncPANW	Same weight	1.27%	1.27%
Idexx Laboratories IncIDXX	QQQM +0.01 points	0.24%	0.25%
Tesla IncTSLA	Same weight	3.28%	3.28%
Amgen IncAMGN	Same weight	1.16%	1.16%
Crowdstrike Holdings Inc ACRWD	QNDX +0.01 points	1.11%	1.10%
Amazon.com IncAMZN	QNDX +0.01 points	4.66%	4.65%
Space Exploration Techn Class ASPCX	Same weight	2.61%	2.61%
Marriott International Class AMAR	QQQM +0.01 points	0.49%	0.50%
Microsoft CorpMSFT	QNDX +0.01 points	6.70%	6.69%
Seagate Technology HoldingsSTX	Same weight	0.57%	0.57%
Palantir Technologies Inc APLTR	Same weight	1.77%	1.77%
Walmart IncWMT	Same weight	2.81%	2.81%
Mercadolibre IncMELI	Same weight	0.39%	0.39%
Intuit IncINTU	Same weight	0.44%	0.44%
Nxp Semiconductors NVNXPI	Same weight	0.30%	0.30%
Teradyne IncTER	QQQM +0.01 points	0.17%	0.18%
Automatic Data ProcessingADP	Same weight	0.54%	0.54%
Workday Inc Class AWDAY	Same weight	0.18%	0.18%
Ross Stores IncROST	Same weight	0.35%	0.35%
Meta Platforms Inc Class AMETA	Same weight	3.04%	3.04%
T Mobile Us IncTMUS	QNDX +0.01 points	0.77%	0.76%
Take Two Interactive SoftwreTTWO	QNDX +0.01 points	0.18%	0.17%
Broadcom IncAVGO	Same weight	2.51%	2.51%
Moderna IncMRNA	Same weight	0.46%	0.46%
Texas Instruments IncTXN	Same weight	1.27%	1.27%
Adobe IncADBE	Same weight	0.44%	0.44%
Analog Devices IncADI	Same weight	0.88%	0.88%
Monolithic Power Systems IncMPWR	Same weight	0.28%	0.28%
Diamondback Energy IncFANG	Same weight	0.23%	0.23%
Cisco Systems IncCSCO	Same weight	1.83%	1.83%
Western Digital CorpWDC	Same weight	0.52%	0.52%
Ferrovial NVFER	Same weight	0.19%	0.19%
Thomson Reuters CorpTRI	Same weight	0.20%	0.20%
Starbucks CorpSBUX	Same weight	0.56%	0.56%
Old Dominion Freight LineODFL	Same weight	0.17%	0.17%
Lumentum Holdings IncLITE	Same weight	0.25%	0.25%
Intel CorpINTC	Same weight	1.37%	1.37%
Coca Cola Europacific PartneCCEP	Same weight	0.23%	0.23%
Lam Research CorpLRCX	Same weight	1.24%	1.24%
Shopify Inc Class ASHOP	Same weight	0.83%	0.83%
Arm Holdings PLC AdrARM	QNDX +0.01 points	0.38%	0.37%
Cadence Design Sys IncCDNS	Same weight	0.41%	0.41%
Csx CorpCSX	Same weight	0.43%	0.43%
Honeywell International IncHON	Same weight	0.32%	0.32%
Xcel Energy IncXEL	Same weight	0.23%	0.23%
Dexcom IncDXCM	Same weight	0.15%	0.15%
Fastenal CoFAST	Same weight	0.27%	0.27%
Astera Labs IncALAB	Same weight	0.17%	0.17%
Booking Holdings IncBKNG	QNDX +0.01 points	0.58%	0.57%
Applied Materials IncAMAT	Same weight	1.31%	1.31%
Ge Healthcare TechnologyGEHC	Same weight	0.17%	0.17%
Synopsys IncSNPS	Same weight	0.40%	0.40%
Constellation EnergyCEG	Same weight	0.39%	0.39%
Exelon CorpEXC	Same weight	0.21%	0.21%
Linde PLCLIN	Same weight	1.08%	1.08%
Paychex IncPAYX	Same weight	0.19%	0.19%
Honeywell Aerospace IncHONA	Same weight	0.22%	0.22%
Advanced Micro DevicesAMD	Same weight	3.57%	3.57%
Strategy IncMSTR	Same weight	0.23%	0.23%
Doordash Inc ADASH	Same weight	0.36%	0.36%
Comcast Corp Class ACMCSA	Same weight	0.39%	0.39%
Netflix IncNFLX	Same weight	1.24%	1.24%
Alphabet Inc Class AGOOGL	Same weight	2.75%	2.75%
PayPal Holdings IncPYPL	Same weight	0.23%	0.23%
Applovin Corp Class AAPP	Same weight	0.37%	0.37%
O Reilly Automotive IncORLY	Same weight	0.33%	0.33%
Autodesk IncADSK	Same weight	0.25%	0.25%
Rocket Lab CorpRKLB	Same weight	0.14%	0.14%
Paccar IncPCAR	Same weight	0.25%	0.25%
Datadog Inc Class ADDOG	Same weight	0.28%	0.28%
Qualcomm IncQCOM	Same weight	0.81%	0.81%
Keurig Dr Pepper IncKDP	Same weight	0.22%	0.22%
Intuitive Surgical IncISRG	Same weight	0.76%	0.76%
Alphabet Inc Class CGOOG	QNDX +0.01 points	2.58%	2.57%
Mondelez International Inc AMDLZ	QNDX +0.01 points	0.39%	0.38%
Cintas CorpCTAS	Same weight	0.41%	0.41%
Airbnb Inc Class AABNB	Same weight	0.33%	0.33%
Pepsico IncPEP	Same weight	0.87%	0.87%
Coreweave Inc Class ACRWV	Same weight	0.10%	0.10%
Microchip Technology IncMCHP	Same weight	0.18%	0.18%
Marvell Technology IncMRVL	Same weight	0.63%	0.63%
Alnylam Pharmaceuticals IncALNY	Same weight	0.10%	0.10%
Nebius Group NVNBIS	Same weight	0.15%	0.15%
Fortinet IncFTNT	Same weight	0.43%	0.42%
Baker Hughes CoBKR	Same weight	0.22%	0.22%
American Electric PowerAEP	Same weight	0.31%	0.31%
Gilead Sciences IncGILD	Same weight	0.97%	0.97%
Pdd Holdings IncPDD	Same weight	0.25%	0.25%
Copart IncCPRT	Same weight	0.14%	0.14%
Monster Beverage CorpMNST	Same weight	0.43%	0.43%

All 101 QNDX 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.

QNDX vs QQQM Cost

Overpaying QQQM vs QNDX

$1,031

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

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

Amount$10,000

Years30 years

Cost over time

QNDX 0.10%
QQQM 0.15%
Overpaying

Year by year

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

Expense ratio

0.10%QNDX, cheaper
0.15%QQQM

QNDX0.10%QQQM0.15%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

QNDX cheapest of 10 funds

QQQM 3rd cheapest of 10 funds

QNDX vs QQQM Dividends

Last 12 months to Nov 5, 2026

Yield (12M): QNDX No data; QQQM 0.49%
Payout (12M): QNDX No data; QQQM $1.32
Last payment: QNDX $0.03; QQQM $0.31
Ex-dividend: QNDX Sep 21, 2026; QQQM Sep 21, 2026
Paid on: QNDX Sep 23, 2026; QQQM Sep 25, 2026
Frequency: QNDX Irregular; QQQM Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

QNDXIrregular · 1 paymentAll QNDX payments⁠

QQQMQuarterly · 24 paymentsAll QQQM payments⁠

QNDX vs QQQM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: QNDX No dataQQQM 17.8%
Return per unit of riskSharpe ratio, 3 years: QNDX No dataQQQM 1.15
Worst fallMax drawdown, 5 years: QNDX No dataQQQM −35.0%
Market sensitivityBeta, 5 years: QNDX 1.73QQQM 1.23; Market = 1

QNDX 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

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