QNDX vs QTOP: Grades, Fees and Holdings Compared

State Street SPDR Portfolio Nasdaq 100 ETF

QNDXBNasdaq

iShares Nasdaq Top 30 Stocks ETF

QTOPCNasdaq

Overlap

76.4%by weight

Expense ratio

QNDX −0.10pt a year

QNDX0.10%QTOP0.20%

Avg volume · 30D

QNDX 4.3×the volume

QNDX656KQTOP152K

QNDX vs QTOP Performance

Jul 31, 2026 – Oct 30, 2026

+0.5%QNDX+0.2%QTOP

Expense ratio: QNDX 0.10%, better; QTOP 0.20%
Fund size: QNDX $669M; QTOP $333M
1Y total return: QNDX No data; QTOP +9.7%
Yield (12M): QNDX No data; QTOP 0.34%
Holdings: QNDX 103; QTOP 33
Avg volume (30D): QNDX 656K sh, better; QTOP 152K sh
NAV per share: QNDX $24.22; QTOP $35.84
52W range

ETF.net Grade

Pillar letters and Scores for QNDX, QTOP, with each pillar’s weight
Pillar	QNDX	QTOP
Cost30% weight	A88Higher	C46
Mission25% weight	Not scored	A100
Risk15% weight	C50Higher	D33
Tradability15% weight	C54Higher	D35
Holdings10% weight	B61Higher	F16
Durability5% weight	C44	C52Higher

Rank among Nasdaq-100 funds

How we build Categories ›

Same Category. QNDX and QTOP 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 ›

QNDX ranks 4th and QTOP 7th of 10 funds in the Nasdaq-100 Category.

Rank 1AQQQMInvesco NASDAQ 100 ETFScore 77
Rank 2AQQQInvesco QQQ Trust, Series 1Score 76
Rank 3AIQQiShares Nasdaq 100 ETFScore 70
Rank 4BQNDXState Street SPDR Portfolio Nasdaq 100 ETFScore 67
Rank 5BQQMGInvesco ESG NASDAQ 100 ETFScore 59
Rank 6BQNXTiShares Nasdaq-100 ex Top 30 ETFScore 56
Rank 7CQTOPiShares Nasdaq Top 30 Stocks ETFScore 52
Rank 8CQQQEDirexion NASDAQ-100 Equal Weighted Index ETFScore 51

Our read on each fund

ETF.net Research

QNDXBState Street SPDR Portfolio Nasdaq 100 ETF

QTOPCiShares Nasdaq Top 30 Stocks ETF

In short

QNDX No data

QTOP QTOP is the Nasdaq-100 with the tail cut off: just the 30 biggest names, at 0.20% a year. A concentrated take on US mega-cap growth leadership, built on the iShares shelf.

Stated mandate

QNDX No data

QTOP The fund seeks to follow an index containing the 30 largest companies by market capitalization within the Nasdaq-100, providing focused exposure to U.S. mega-cap growth leaders.

Why people hold it

QNDX No data

QTOP Holds about 30 stocks, the largest Nasdaq-100 members by market cap, so the mega-cap leaders drive the portfolio instead of being diluted by the index's smaller names.ishares.com
0.20% a year, in line with the typical Nasdaq-100 tracker, for a portfolio that adds a screening and rebalancing step on top of the parent index.
What you buy is what the documents describe: the 30 largest Nasdaq-100 companies, US equity, no side bets. Distributions come quarterly.ishares.com

Worth knowing

QNDX No data

QTOP Concentration cuts both ways. With roughly 30 names weighted by size, one mega-cap stumble moves this fund more than it would move a 100-stock version.
The full Nasdaq-100 costs less elsewhere: QQQM charges 0.15% and QQQ 0.18% for the whole 100-stock index.
Launched in October 2024, so the record is short, and it changes hands less often than the category's household-name giants.

Full QNDX profile⁠

Full QTOP profile⁠

QNDX vs QTOP Holdings

How QNDX and QTOP differ

Overlap by weight

76.4%

Shared holdings make up 99.9% of QTOP and 76.4% of QNDX.

Level by level

Holdings31 in both76.4%
Countryby domicile97.3%
Asset classEquity100%

Sector

No Sector split for QNDX.

Country, concentration and asset class

Country by domicile

Country weights in QNDX and QTOP, widest gap first
Country	More in QNDXMore in QTOP	QNDX	QTOP
United States	QTOP +2.7 points	97.3%	100.0%
Canada	QNDX +1.1 points	1.1%	0.0%
Netherlands	QNDX +0.9 points	0.9%	0.0%
Other countries (3)	QNDX +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

QNDX46.5%
QTOP60.4%

Securities held

QNDX101
QTOP31

Asset class

QNDX: Equity
QTOP: Equity

Holdings

Only in QNDX70
In both31
Only in QTOP0

Only in QNDX

70 securities, 23.5% of QNDX by weight

Analog Devices Inc0.91%
Gilead Sciences Inc0.89%
Shopify Inc Class A0.87%
Qualcomm Inc0.84%
Asml Holding NV Ny Reg Shs0.69%
Intuitive Surgical Inc0.69%
Western Digital Corp0.62%
Vertex Pharmaceuticals Inc0.60%
Starbucks Corp0.52%
Automatic Data Processing0.49%
Booking Holdings Inc0.49%
Marriott International Class A0.45%
Fortinet Inc0.44%
Arm Holdings PLC Adr0.43%
Adobe Inc0.43%
Csx Corp0.42%
Cadence Design Sys Inc0.41%
Synopsys Inc0.41%
Constellation Energy0.41%
Intuit Inc0.39%
Monster Beverage Corp0.39%
Moderna Inc0.39%
Datadog Inc Class A0.39%
Cintas Corp0.38%
Regeneron Pharmaceuticals0.36%
Mercadolibre Inc0.36%
Lumentum Holdings Inc0.36%
Mondelez International Inc A0.35%
Comcast Corp Class A0.34%
Applovin Corp Class A0.34%
Ross Stores Inc0.32%
Doordash Inc A0.32%
O Reilly Automotive Inc0.31%
American Electric Power0.30%
Honeywell International Inc0.30%
Airbnb Inc Class A0.30%
Nxp Semiconductors NV0.29%
Fastenal Co0.26%
Monolithic Power Systems Inc0.25%
Diamondback Energy Inc0.25%
Baker Hughes Co0.23%
Paccar Inc0.23%
Pdd Holdings Inc0.23%
Strategy Inc0.22%
Autodesk Inc0.22%
Honeywell Aerospace Inc0.22%
Astera Labs Inc0.22%
Xcel Energy Inc0.21%
PayPal Holdings Inc0.21%
Coca Cola Europacific Partne0.21%

Only in QTOP

0 securities, 0.0% of QTOP by weight

Weight gaps

All 31 Holdings in both funds, largest gap first.

Holding weights in QNDX and QTOP, widest gap first
Holding	More in QNDXMore in QTOP	QNDX	QTOP
Apple IncAAPL	QTOP +2.73 points	7.99%	10.72%
NVIDIA CorpNVDA	QTOP +2.44 points	8.08%	10.52%
Microsoft CorpMSFT	QTOP +2.08 points	6.18%	8.26%
Micron Technology IncMU	QTOP +1.30 points	4.58%	5.88%
Tesla IncTSLA	QTOP +1.26 points	3.33%	4.59%
Meta Platforms Inc Class AMETA	QTOP +1.08 points	2.91%	3.99%
Walmart IncWMT	QTOP +1.06 points	2.56%	3.62%
Advanced Micro DevicesAMD	QTOP +0.97 points	4.00%	4.97%
Alphabet Inc Class AGOOGL	QTOP +0.89 points	2.61%	3.50%
Alphabet Inc Class CGOOG	QTOP +0.83 points	2.45%	3.28%
Broadcom IncAVGO	QTOP +0.81 points	2.58%	3.39%
Space Exploration Techn Class ASPCX	QTOP +0.81 points	2.68%	3.49%
Costco Wholesale CorpCOST	QTOP +0.78 points	1.92%	2.70%
Cisco Systems IncCSCO	QTOP +0.63 points	1.85%	2.48%
Palantir Technologies Inc APLTR	QTOP +0.59 points	1.96%	2.55%
Palo Alto Networks IncPANW	QTOP +0.45 points	1.35%	1.80%
Amgen IncAMGN	QTOP +0.44 points	1.08%	1.52%
Netflix IncNFLX	QTOP +0.44 points	1.12%	1.56%
Lam Research CorpLRCX	QTOP +0.42 points	1.38%	1.80%
Linde PLCLIN	QTOP +0.43 points	1.00%	1.43%
Texas Instruments IncTXN	QTOP +0.43 points	1.23%	1.66%
Applied Materials IncAMAT	QTOP +0.42 points	1.45%	1.87%
Crowdstrike Holdings Inc ACRWD	QTOP +0.39 points	1.16%	1.55%
Pepsico IncPEP	QTOP +0.34 points	0.79%	1.13%
T Mobile Us IncTMUS	QTOP +0.32 points	0.69%	1.01%
Kla CorpKLAC	QTOP +0.29 points	0.95%	1.24%
Marvell Technology IncMRVL	QTOP +0.21 points	0.83%	1.04%
Seagate Technology HoldingsSTX	QTOP +0.19 points	0.69%	0.88%
Amazon.com IncAMZN	QTOP +0.18 points	4.13%	4.31%
Sandisk CorpSNDK	QTOP +0.18 points	0.84%	1.02%
Intel CorpINTC	QNDX +0.02 points	2.10%	2.08%

All 101 QNDX holdings⁠All 31 QTOP 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 QTOP Cost

Overpaying QTOP vs QNDX

$2,049

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

QNDX 0.10%
$2,106
QTOP 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

QNDX 0.10%
QTOP 0.20%
Overpaying

Year by year

Year	QNDX	QTOP	Overpaying
10	$183	$365	$182
20	$717	$1,421	$704
30	$2,106	$4,155	$2,049

Expense ratio

0.10%QNDX, cheaper
0.20%QTOP

QNDX0.10%QTOP0.20%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

QNDX cheapest of 10 funds

QTOP 5th cheapest of 10 funds

QNDX vs QTOP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QNDX No data; QTOP 0.34%
Payout (12M): QNDX No data; QTOP $0.12
Last payment: QNDX $0.03; QTOP $0.03
Ex-dividend: QNDX Sep 21, 2026; QTOP Sep 15, 2026
Paid on: QNDX Sep 23, 2026; QTOP Sep 18, 2026
Frequency: QNDX Irregular; QTOP Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

QNDXIrregular · 1 paymentAll QNDX payments⁠

QTOPQuarterly · 8 paymentsAll QTOP payments⁠

QNDX vs QTOP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: QNDX No dataQTOP 21.4%since Nov 2024
Return per unit of riskSharpe ratio, 3 years: QNDX No dataQTOP 0.84since Nov 2024
Worst fallMax drawdown, 5 years: QNDX No dataQTOP −23.3%since Oct 2024
Market sensitivityBeta, 5 years: QNDX 1.73QTOP 1.39; Market = 1

QNDX and QTOP in the news

All news⁠

Category Rankings
The funds most people hold lost money in September as gains stayed narrow
Updated Oct 2, 2026QTOP

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QNDX vs QTOP

In short

Stated mandate

Why people hold it

Worth knowing

How QNDX and QTOP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QNDX

Only in QTOP

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The funds most people hold lost money in September as gains stayed narrow

How QNDX and QTOP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QNDX

Only in QTOP

Weight gaps