QNXT vs QQQ: Grades, Fees and Holdings Compared

iShares Nasdaq-100 ex Top 30 ETF

QNXTBNasdaq

Invesco QQQ Trust, Series 1

QQQANasdaq

Overlap

23.1%by weight

Expense ratio

QQQ −0.02pt a year

QNXT0.20%QQQ0.18%

Avg volume · 30D

QQQ 5767.4×the volume

QNXT6.41KQQQ37M

QNXT vs QQQ Performance

Oct 31, 2025 – Oct 30, 2026

+9.7%QNXT+10.3%QQQ

Expense ratio: QNXT 0.20%; QQQ 0.18%, better
Fund size: QNXT $28M; QQQ $464B
1Y total return: QNXT +9.7%; QQQ +10.3%, better
Yield (12M): QNXT 0.71%, better; QQQ 0.45%
Holdings: QNXT 72; QQQ 105
Avg volume (30D): QNXT 6.41K sh; QQQ 37M sh, better
NAV per share: QNXT $30.66; QQQ $690.49
52W range

ETF.net Grade

Pillar letters and Scores for QNXT, QQQ, with each pillar’s weight
Pillar	QNXT	QQQ
Cost30% weight	C46	B64Higher
Mission25% weight	A72	A100Higher
Risk15% weight	A72Higher	C51
Tradability15% weight	D33	A95Higher
Holdings10% weight	A77Higher	B61
Durability5% weight	D36	A81Higher

Rank among Nasdaq-100 funds

How we build Categories ›

Same Category. QNXT 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 QNXT 6th 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 5BQQMGInvesco ESG NASDAQ 100 ETFScore 59
Rank 6BQNXTiShares Nasdaq-100 ex Top 30 ETFScore 56
Rank 7CQTOPiShares Nasdaq Top 30 Stocks ETFScore 52

Our read on each fund

ETF.net Research

QNXTBiShares Nasdaq-100 ex Top 30 ETF

QQQAInvesco QQQ Trust, Series 1

In short

QNXT The Nasdaq-100 with its 30 giants cut out. QNXT holds the roughly 70 names that normally sit in the shadow of the index's mega-caps, wrapped at 0.20% a year.

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

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

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

Why people hold it

QNXT Built to exclude the Nasdaq-100's 30 largest members, so roughly 70 second-tier names set the outcome instead of riding behind the giants.
0.20% a year, less than half the typical fee among index trackers in its peer group.
Rules-based iShares wrapper on a published Nasdaq-100 subset index: no manager stock-picking, and it distributes quarterly.

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

QNXT Light trading and a small asset base, so bid-ask spreads can run wider than on the flagship Nasdaq funds.
Short history: it began trading in October 2024, well short of a full market cycle to judge it by.
Still narrow. About 70 stocks from one large-cap index means cutting the top 30 shifts the concentration rather than removing it.

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 QNXT profile⁠

Full QQQ profile⁠

QNXT vs QQQ Holdings

How QNXT and QQQ differ

Overlap by weight

23.1%

Shared holdings make up 99.9% of QNXT and 23.1% of QQQ.

Level by level

Holdings69 in both23.1%
Countryby domicile90.9%
Asset classEquity100%

Sector

No Sector split for QNXT.

Country, concentration and asset class

Country by domicile

Country weights in QNXT and QQQ, widest gap first
Country	More in QNXTMore in QQQ	QNXT	QQQ
United States	QQQ +9.1 points	88.2%	97.3%
Canada	QNXT +3.5 points	4.6%	1.1%
Netherlands	QNXT +2.8 points	3.7%	0.9%
Brazil	QNXT +1.2 points	1.6%	0.4%
China	QNXT +0.8 points	1.0%	0.2%
United Kingdom	QNXT +0.7 points	0.9%	0.2%

Concentration

Weight in the 10 largest Holdings

QNXT30.3%
QQQ46.4%

Securities held

QNXT69
QQQ101

Asset class

QNXT: Equity
QQQ: Equity

Holdings

Only in QNXT0
In both69
Only in QQQ32

Only in QNXT

0 securities, 0.0% of QNXT by weight

Only in QQQ

32 securities, 76.8% of QQQ by weight

NVIDIA Corp8.08%
Apple Inc7.99%
Microsoft Corp6.17%
Micron Technology Inc4.57%
Amazon.com Inc4.12%
Advanced Micro Devices Inc4.00%
Tesla Inc3.32%
Meta Platforms Inc2.91%
Space Exploration Technologies Corp2.67%
Alphabet Inc2.61%
Broadcom Inc2.57%
Walmart Inc2.55%
Alphabet Inc2.45%
Intel Corp2.09%
Palantir Technologies Inc1.96%
Costco Wholesale Corp1.91%
Cisco Systems Inc1.85%
Applied Materials Inc1.45%
Lam Research Corp1.38%
Palo Alto Networks Inc1.34%
Texas Instruments Inc1.24%
Crowdstrike Holdings Inc1.16%
Netflix Inc1.12%
Amgen Inc1.08%
Linde PLC1.00%
KLA Corp0.95%
Sandisk Corp0.84%
Marvell Technology Inc0.83%
PepsiCo Inc0.79%
Seagate Technology Holdings PLC0.69%
T-Mobile US Inc0.68%
Moderna Inc0.39%

Weight gaps

All 69 Holdings in both funds, largest gap first.

Holding weights in QNXT and QQQ, widest gap first
Holding	More in QNXTMore in QQQ	QNXT	QQQ
Gilead SciencesGILD	QNXT +3.16 points	4.05%	0.89%
Analog DevicesADI	QNXT +2.95 points	3.86%	0.91%
Shopify Subordinate Voting Class ASHOP	QNXT +2.77 points	3.64%	0.87%
QualcommQCOM	QNXT +2.47 points	3.31%	0.84%
Intuitive SurgicalISRG	QNXT +2.23 points	2.92%	0.69%
Asml Holding Adr RepresentingASML	QNXT +2.13 points	2.81%	0.68%
Vertex PharmaceuticalsVRTX	QNXT +2.12 points	2.71%	0.59%
Western Digital CorpWDC	QNXT +1.90 points	2.52%	0.62%
Automatic Data Processing IncADP	QNXT +1.74 points	2.23%	0.49%
Starbucks CorpSBUX	QNXT +1.74 points	2.26%	0.52%
Booking HoldingsBKNG	QNXT +1.64 points	2.13%	0.49%
Marriott International Class AMAR	QNXT +1.54 points	1.99%	0.45%
Adobe IncADBE	QNXT +1.47 points	1.90%	0.43%
FortinetFTNT	QNXT +1.47 points	1.91%	0.44%
Regeneron PharmaceuticalsREGN	QNXT +1.44 points	1.80%	0.36%
CsxCSX	QNXT +1.42 points	1.84%	0.42%
IntuitINTU	QNXT +1.39 points	1.78%	0.39%
Monster BeverageMNST	QNXT +1.38 points	1.77%	0.39%
Constellation Energy CorpCEG	QNXT +1.37 points	1.78%	0.41%
Cadence Design SystemsCDNS	QNXT +1.32 points	1.73%	0.41%
SynopsysSNPS	QNXT +1.30 points	1.71%	0.41%
CintasCTAS	QNXT +1.30 points	1.68%	0.38%
Arm Holdings American Depositary’sARM	QNXT +1.29 points	1.72%	0.43%
Mondelez International Class AMDLZ	QNXT +1.24 points	1.59%	0.35%
Comcast Class ACMCSA	QNXT +1.23 points	1.57%	0.34%
MercadolibreMELI	QNXT +1.22 points	1.58%	0.36%
Datadog Inc Class ADDOG	QNXT +1.12 points	1.51%	0.39%
Lumentum HoldingsLITE	QNXT +1.08 points	1.44%	0.36%
Doordash Class ADASH	QNXT +1.08 points	1.40%	0.32%
Ross Stores IncROST	QNXT +1.08 points	1.40%	0.32%
Oreilly Automotive IncORLY	QNXT +1.05 points	1.36%	0.31%
American Electric Power IncAEP	QNXT +1.06 points	1.36%	0.30%
Honeywell International IncHON	QNXT +1.02 points	1.32%	0.30%
Airbnb Class AABNB	QNXT +1.02 points	1.32%	0.30%
Applovin Class AAPP	QNXT +0.99 points	1.33%	0.34%
Nxp Semiconductors NVNXPI	QNXT +0.96 points	1.25%	0.29%
Diamondback EnergyFANG	QNXT +0.89 points	1.14%	0.25%
Monolithic Power Systems IncMPWR	QNXT +0.88 points	1.14%	0.26%
FastenalFAST	QNXT +0.88 points	1.14%	0.26%
Baker Hughes Class ABKR	QNXT +0.82 points	1.05%	0.23%
Paccar IncPCAR	QNXT +0.80 points	1.03%	0.23%
AutodeskADSK	QNXT +0.78 points	1.00%	0.22%
Pdd Holdings AdsPDD	QNXT +0.77 points	1.00%	0.23%
Xcel Energy IncXEL	QNXT +0.74 points	0.95%	0.21%
Coca Cola Europacific Partners PLCCCEP	QNXT +0.73 points	0.94%	0.21%
Keurig Dr Pepper IncKDP	QNXT +0.72 points	0.93%	0.21%
PayPal HoldingsPYPL	QNXT +0.72 points	0.93%	0.21%
Honeywell Aerospace IncHONA	QNXT +0.71 points	0.93%	0.22%
Exelon CorpEXC	QNXT +0.70 points	0.91%	0.21%
Roper TechnologiesROP	QNXT +0.69 points	0.88%	0.19%
Strategy Inc Class AMSTR	QNXT +0.69 points	0.91%	0.22%
Thomson Reuters CorpTRI	QNXT +0.66 points	0.85%	0.19%
Astera LabsALAB	QNXT +0.64 points	0.86%	0.22%
Idexx LaboratoriesIDXX	QNXT +0.63 points	0.83%	0.20%
TeradyneTER	QNXT +0.62 points	0.82%	0.20%
Microchip Technology IncMCHP	QNXT +0.61 points	0.80%	0.19%
PaychexPAYX	QNXT +0.59 points	0.76%	0.17%
Ferrovial NVFER	QNXT +0.59 points	0.77%	0.18%
Workday Class AWDAY	QNXT +0.57 points	0.74%	0.17%
Old Dominion Freight LineODFL	QNXT +0.53 points	0.68%	0.15%
Nebius NV Class ANBIS	QNXT +0.52 points	0.70%	0.18%
Take Two Interactive SoftwareTTWO	QNXT +0.52 points	0.68%	0.16%
Ge Healthcare TechnologiesGEHC	QNXT +0.51 points	0.66%	0.15%
Axon EnterpriseAXON	QNXT +0.52 points	0.67%	0.15%
Rocket Lab CorpRKLB	QNXT +0.48 points	0.63%	0.15%
Dexcom IncDXCM	QNXT +0.46 points	0.59%	0.13%
Copart IncCPRT	QNXT +0.41 points	0.53%	0.12%
Coreweave Class ACRWV	QNXT +0.36 points	0.48%	0.12%
Alnylam PharmaceuticalsALNY	QNXT +0.32 points	0.42%	0.10%

All 69 QNXT 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.

QNXT vs QQQ Cost

Overpaying QNXT vs QQQ

$406

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

QNXT 0.20%
$4,155
QQQ 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

QNXT 0.20%
QQQ 0.18%
Overpaying

Year by year

Year	QNXT	QQQ	Overpaying
10	$365	$328	$37
20	$1,421	$1,281	$140
30	$4,155	$3,749	$406

Expense ratio

0.20%QNXT
0.18%QQQ, cheaper

QQQ0.18%QNXT0.20%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

QQQ 4th cheapest of 10 funds

QNXT 5th cheapest of 10 funds

QNXT vs QQQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QNXT 0.71%, better; QQQ 0.45%
Payout (12M): QNXT $0.22; QQQ $3.09
Last payment: QNXT $0.05; QQQ $0.75
Ex-dividend: QNXT Sep 15, 2026; QQQ Sep 21, 2026
Paid on: QNXT Sep 18, 2026; QQQ Oct 8, 2026
Frequency: QNXT Quarterly; QQQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QNXTQuarterly · 8 paymentsAll QNXT payments⁠

QQQQuarterly · 40 paymentsAll QQQ payments⁠

QNXT vs QQQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: QNXT 15.6%since Nov 2024QQQ 17.8%
Return per unit of riskSharpe ratio, 3 years: QNXT 0.58since Nov 2024QQQ 1.14
Worst fallMax drawdown, 5 years: QNXT −22.3%since Oct 2024QQQ −35.1%
Market sensitivityBeta, 5 years: QNXT 1.12QQQ 1.23; Market = 1

QNXT and QQQ in the news

All news⁠

Top Movers
Oil plunges on Iran talks as tech stocks fall again
5 hours agoQQQ
Closing Bell
S&P 500 falls 0.5% as tech losses outweigh oil’s 7% drop
5 hours agoQQQ
Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026QQQ
Category Rankings
Chips, AI and crypto took October's losses
Updated Nov 2, 2026QQQ
Week Ahead
Friday's jobs report is the test of a December rate increase
Nov 1, 2026QQQ
Top Movers
Brazil small-cap fund falls 37% in the week Lula won again
Oct 30, 2026QQQ

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QNXT vs QQQ

In short

Stated mandate

Why people hold it