QQA vs QQQH: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

NEOS Nasdaq-100 Hedged Equity Income ETF

QQQHBNasdaq

Overlap

74.8%by weight

Expense ratio

QQA −0.39pt a year

QQA0.29%QQQH0.68%

Avg volume · 30D

QQA 3.2×the volume

QQA119KQQQH36.8K

QQA vs QQQH Performance

Oct 31, 2025 – Oct 30, 2026

+9.6%QQA+4.2%QQQH

Expense ratio: QQA 0.29%, better; QQQH 0.68%
Fund size: QQA $894M; QQQH $368M
1Y total return: QQA +9.6%, better; QQQH +4.2%
Yield (12M): QQA 10.49%, better; QQQH 9.28%
Holdings: QQA 123; QQQH 103
Avg volume (30D): QQA 119K sh, better; QQQH 36.8K sh
NAV per share: QQA $53.44; QQQH $52.85
52W range

ETF.net Grade

Pillar letters and Scores for QQA, QQQH, with each pillar’s weight
Pillar	QQA	QQQH
Cost30% weight	A92Higher	C53
Mission25% weight	A100	Not scored
Risk15% weight	B67Higher	C47
Tradability15% weight	B64Higher	B57
Holdings10% weight	B69	A84Higher
Durability5% weight	A74	A76Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and QQQH 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 QQQH 14th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 83
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 3AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 80
Rank 13BEDGQGlobal X Nasdaq-100 Income Edge ETFScore 61
Rank 14BQQQHNEOS Nasdaq-100 Hedged Equity Income ETFScore 58
Rank 15BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFScore 55

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

QQQHBNEOS Nasdaq-100 Hedged Equity Income ETF

In short

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.

QQQH Most Nasdaq-100 income funds just sell calls. QQQH spends part of that premium on a put spread, so the collar is built to cushion drawdowns as well as pay monthly. Downside cushion in, some upside out.

Stated mandate

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.

QQQH The fund seeks high monthly income in a tax-efficient manner while providing a measure of downside protection. It uses Nasdaq-100 stocks together with a put-spread options collar.

Why people hold it

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.

QQQH Three legs: sold calls, bought puts, sold lower puts. The prospectus targets a net credit, so premium pays for the hedge instead of the hedge eating the income.sec.gov
Owns the Nasdaq-100 stocks outright rather than renting exposure through swaps or another ETF, so share dividends stack on top of the index-option premium.sec.gov
Pays monthly with no advertised target rate, so the payout follows what the options market actually pays rather than a number set in marketing.
Live since 2019, first as NUSI, with NEOS taking it over in 2024. Real trading history through real drawdowns, not a backtest.neosfunds.com

Worth knowing

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.

QQQH 0.68% sits right at the middle of the Nasdaq-100 income group. QQA (0.33%), JEPQ and GPIQ (0.35%) charge roughly half for their own spin on the trade.
Upside is capped by design. The prospectus says plainly that gains are limited, which is the price of the put spread underneath.sec.gov
Trades thinner than the category's giants, so limit orders earn their keep. Part of the distribution can be return of capital, which the fund discloses.

Full QQA profile⁠

Full QQQH profile⁠

QQA vs QQQH Holdings

How QQA and QQQH differ

Overlap by weight

74.8%

Shared holdings make up 97.3% of QQQH and 75.7% of QQA.

Level by level

Holdings101 in both74.8%
Sector10 Sectors98.4%
Asset classEquity100%
Countryby domicile99.9%

Sector

Sector weights in QQA and QQQH, widest gap first
Sector	More in QQAMore in QQQH	QQA	QQQH
Technology	QQQH +1.3 points	58.9%	60.2%
Industrials	QQA +1.1 points	5.3%	4.2%
Communication	QQA +0.3 points	11.4%	11.1%
Consumer Discretionary	QQA +0.3 points	10.9%	10.6%
Health Care	QQQH +0.2 points	4.4%	4.6%
Utilities	QQQH +0.1 points	1.1%	1.2%
Consumer Staples	Same weight	6.3%	6.3%
Materials	Same weight	1.0%	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 QQA and QQQH, widest gap first
Country	More in QQAMore in QQQH	QQA	QQQH
United States	QQA +0.1 points	97.3%	97.2%
Canada	Same weight	1.1%	1.1%
Netherlands	Same weight	0.9%	0.9%
Brazil	Same weight	0.4%	0.4%
China	QQQH +0.1 points	0.2%	0.3%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

QQA53.2%
QQQH46.8%

Securities held

QQA122
QQQH103

Asset class

QQA: Equity
QQQH: Equity

Holdings

Only in QQA21
In both101
Only in QQQH2

Only in QQA

21 securities, 24.2% of QQA by weight

Invesco Premier US Government Money Portfolio19.96%
Toronto-Dominion Bank/The 148.80% 11/30/20260.41%
Royal Bank of Canada 163.05% 11/27/20260.37%
Citigroup Inc 154.75% 12/01/20260.34%
Royal Bank of Canada 171.13% 11/25/20260.29%
UBS Group AG 215.53% 11/20/20260.25%
Wells Fargo & Co 187.87% 11/23/20260.22%
Wells Fargo & Co 185.69% 11/24/20260.22%
UBS Group AG 215.54% 11/16/20260.20%
Royal Bank of Canada 210.38% 11/19/20260.20%
Royal Bank of Canada 210.42% 11/18/20260.20%
UBS Group AG 222.11% 11/16/20260.20%
BNP Paribas SA 205.15% 11/17/20260.19%
UBS Group AG 255.80% 11/12/20260.18%
Wells Fargo & Co 234.39% 11/13/20260.17%
BNP Paribas SA 245.48% 11/10/20260.16%
Citigroup Inc 270.51% 11/05/20260.15%
UBS Group AG 225.13% 11/09/20260.15%
Barclays Bank PLC 245.00% 11/04/20260.14%
Citigroup Inc 199.14% 11/03/20260.12%
UBS Group AG 265.52% 11/06/20260.11%

Only in QQQH

2 securities, 5.3% of QQQH by weight

Cash & Other3.74%
Ndx Us 12/18/26 P268001.59%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QQA and QQQH, widest gap first
Holding	More in QQAMore in QQQH	QQA	QQQH
Apple IncAAPL	QQQH +2.01 points	6.05%	8.06%
NVIDIA CorpNVDA	QQQH +1.75 points	6.12%	7.87%
Microsoft CorpMSFT	QQQH +1.50 points	4.68%	6.18%
Amazon.com IncAMZN	QQQH +1.02 points	3.13%	4.15%
Micron Technology IncMU	QQQH +0.94 points	3.46%	4.40%
Space Exploration Technologies CorpSPCX	QQA +0.86 points	2.03%	1.17%
Tesla IncTSLA	QQQH +0.79 points	2.52%	3.31%
Meta Platforms IncMETA	QQQH +0.70 points	2.21%	2.91%
Walmart IncWMT	QQQH +0.70 points	1.94%	2.64%
Alphabet IncGOOGL	QQQH +0.64 points	1.98%	2.62%
Alphabet IncGOOG	QQQH +0.61 points	1.85%	2.46%
Advanced Micro Devices IncAMD	QQQH +0.57 points	3.03%	3.60%
Costco Wholesale CorpCOST	QQQH +0.52 points	1.45%	1.97%
Broadcom IncAVGO	QQQH +0.52 points	1.95%	2.47%
Cisco Systems IncCSCO	QQQH +0.41 points	1.40%	1.81%
Palantir Technologies IncPLTR	QQQH +0.39 points	1.48%	1.87%
Amgen IncAMGN	QQQH +0.32 points	0.82%	1.14%
Palo Alto Networks IncPANW	QQQH +0.31 points	1.02%	1.33%
Linde PLCLIN	QQQH +0.31 points	0.76%	1.07%
Netflix IncNFLX	QQQH +0.30 points	0.85%	1.15%
Texas Instruments IncTXN	QQQH +0.29 points	0.94%	1.23%
Gilead Sciences IncGILD	QQQH +0.28 points	0.67%	0.95%
Lam Research CorpLRCX	QQQH +0.27 points	1.04%	1.31%
Crowdstrike Holdings IncCRWD	QQQH +0.26 points	0.88%	1.14%
Applied Materials IncAMAT	QQQH +0.26 points	1.10%	1.36%
PepsiCo IncPEP	QQQH +0.25 points	0.60%	0.85%
T-Mobile US IncTMUS	QQQH +0.23 points	0.52%	0.75%
Analog Devices IncADI	QQQH +0.23 points	0.69%	0.92%
KLA CorpKLAC	QQQH +0.20 points	0.72%	0.92%
Vertex Pharmaceuticals IncVRTX	QQQH +0.20 points	0.45%	0.65%
Shopify IncSHOP	QQQH +0.19 points	0.66%	0.85%
Regeneron Pharmaceuticals IncREGN	QQQH +0.17 points	0.27%	0.44%
Intuitive Surgical IncISRG	QQQH +0.16 points	0.52%	0.68%
Marvell Technology IncMRVL	QQQH +0.15 points	0.63%	0.78%
Automatic Data Processing IncADP	QQQH +0.15 points	0.37%	0.52%
Starbucks CorpSBUX	QQQH +0.15 points	0.39%	0.54%
ASML Holding NVASML	QQQH +0.14 points	0.52%	0.66%
Marriott International Inc/MDMAR	QQQH +0.14 points	0.34%	0.48%
Seagate Technology Holdings PLCSTX	QQQH +0.14 points	0.52%	0.66%
Intuit IncINTU	QQQH +0.13 points	0.30%	0.43%
QUALCOMM IncQCOM	QQQH +0.13 points	0.64%	0.77%
Monster Beverage CorpMNST	QQQH +0.12 points	0.30%	0.42%
Booking Holdings IncBKNG	QQQH +0.13 points	0.37%	0.50%
Fortinet IncFTNT	QQQH +0.12 points	0.34%	0.46%
Constellation Energy CorpCEG	QQQH +0.12 points	0.31%	0.43%
Comcast CorpCMCSA	QQQH +0.12 points	0.26%	0.38%
Adobe IncADBE	QQQH +0.12 points	0.32%	0.44%
CSX CorpCSX	QQQH +0.12 points	0.32%	0.44%
Cintas CorpCTAS	QQQH +0.11 points	0.29%	0.40%
Sandisk CorpSNDK	QQQH +0.11 points	0.64%	0.75%
Mondelez International IncMDLZ	QQQH +0.11 points	0.26%	0.37%
Cadence Design Systems IncCDNS	QQQH +0.11 points	0.31%	0.42%
Synopsys IncSNPS	QQQH +0.10 points	0.31%	0.41%
O'Reilly Automotive IncORLY	QQQH +0.11 points	0.23%	0.34%
MercadoLibre IncMELI	QQQH +0.10 points	0.28%	0.38%
Ross Stores IncROST	QQQH +0.10 points	0.24%	0.34%
DoorDash IncDASH	QQQH +0.09 points	0.24%	0.33%
American Electric Power Co IncAEP	QQQH +0.08 points	0.23%	0.31%
NXP Semiconductors NVNXPI	QQQH +0.08 points	0.22%	0.30%
Xcel Energy IncXEL	QQQH +0.08 points	0.16%	0.24%
Monolithic Power Systems IncMPWR	QQQH +0.08 points	0.19%	0.27%
Keurig Dr Pepper IncKDP	QQQH +0.07 points	0.16%	0.23%
PDD Holdings IncPDD	QQQH +0.08 points	0.17%	0.25%
Diamondback Energy IncFANG	QQQH +0.07 points	0.19%	0.26%
Airbnb IncABNB	QQQH +0.07 points	0.23%	0.30%
Honeywell International IncHON	QQQH +0.07 points	0.23%	0.30%
Exelon CorpEXC	QQQH +0.07 points	0.16%	0.23%
ARM Holdings PLCARM	QQQH +0.07 points	0.33%	0.40%
Autodesk IncADSK	QQQH +0.06 points	0.17%	0.23%
Fastenal CoFAST	QQQH +0.06 points	0.20%	0.26%
Datadog IncDDOG	QQQH +0.07 points	0.29%	0.36%
Paychex IncPAYX	QQQH +0.06 points	0.13%	0.19%
Baker Hughes CoBKR	QQQH +0.06 points	0.18%	0.24%
Coca-Cola Europacific Partners PLCCCEP	QQQH +0.06 points	0.16%	0.22%
IDEXX Laboratories IncIDXX	QQQH +0.06 points	0.15%	0.21%
PayPal Holdings IncPYPL	QQQH +0.06 points	0.16%	0.22%
Roper Technologies IncROP	QQQH +0.06 points	0.15%	0.21%
PACCAR IncPCAR	QQQH +0.06 points	0.18%	0.24%
Honeywell Aerospace IncHONA	QQQH +0.05 points	0.17%	0.22%
AppLovin CorpAPP	QQQH +0.06 points	0.25%	0.31%
Intel CorpINTC	QQA +0.06 points	1.59%	1.53%
Microchip Technology IncMCHP	QQQH +0.06 points	0.14%	0.20%
Old Dominion Freight Line IncODFL	QQQH +0.05 points	0.12%	0.17%
Thomson Reuters CorpTRI	QQQH +0.06 points	0.14%	0.20%
GE HealthCare Technologies IncGEHC	QQQH +0.06 points	0.11%	0.17%
Dexcom IncDXCM	QQQH +0.05 points	0.10%	0.15%
Copart IncCPRT	QQQH +0.05 points	0.09%	0.14%
Take-Two Interactive Software IncTTWO	QQQH +0.05 points	0.12%	0.17%
Axon Enterprise IncAXON	QQQH +0.05 points	0.12%	0.17%
Workday IncWDAY	QQQH +0.04 points	0.13%	0.17%
Teradyne IncTER	QQQH +0.05 points	0.15%	0.20%
Astera Labs IncALAB	QQQH +0.03 points	0.17%	0.20%
Ferrovial NVFER	QQQH +0.03 points	0.14%	0.17%
Rocket Lab CorpRKLB	QQQH +0.03 points	0.12%	0.15%
Moderna IncMRNA	QQQH +0.03 points	0.29%	0.32%
Western Digital CorpWDC	QQQH +0.03 points	0.47%	0.50%
Alnylam Pharmaceuticals IncALNY	QQQH +0.02 points	0.08%	0.10%
Nebius Group NVNBIS	QQQH +0.03 points	0.13%	0.16%
Lumentum Holdings IncLITE	QQQH +0.02 points	0.27%	0.29%
CoreWeave IncCRWV	QQQH +0.02 points	0.09%	0.11%

All 122 QQA holdings⁠All QQQH 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.

QQA vs QQQH Cost

Overpaying QQQH vs QQA

$7,300

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

QQA 0.29%
$5,952
QQQH 0.68%
$13,252

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
QQQH 0.68%
Overpaying

Year by year

Year	QQA	QQQH	Overpaying
10	$527	$1,215	$688
20	$2,044	$4,633	$2,589
30	$5,952	$13,252	$7,300

Expense ratio

0.29%QQA, cheaper
0.68%QQQH

QQA0.29%QQQH0.68%

0.00%1.20%

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

QQA 2nd cheapest of 30 funds

QQQH 13th cheapest of 30 funds

QQA vs QQQH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QQA 10.49%, better; QQQH 9.28%
Payout (12M): QQA $5.62; QQQH $4.91
Last payment: QQA $0.47; QQQH $0.41
Ex-dividend: QQA Oct 19, 2026; QQQH Oct 28, 2026
Paid on: QQA Oct 23, 2026; QQQH Oct 30, 2026
Frequency: QQA Monthly; QQQH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

QQAMonthly · 27 paymentsAll QQA payments⁠

QQQHMonthly · 46 paymentsAll QQQH payments⁠

QQA vs QQQH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: QQA 13.1%since Aug 2024QQQH 11.0%
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024QQQH 1.33
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024QQQH −52.7%
Market sensitivityBeta, 5 years: QQA 0.92QQQH 0.78; Market = 1

QQA and QQQH in the news

All news⁠

ETF Filings
Tidal Trust II files to register a Nasdaq-100 fund that would budget 6% for puts
Oct 1, 2026QQQH

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