QQA vs QQQI: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

NEOS Nasdaq-100 High Income ETF

QQQIANasdaq

Overlap

74.8%by weight

Expense ratio

QQA −0.39pt a year

QQA0.29%QQQI0.68%

Avg volume · 30D

QQQI 40.4×the volume

QQA124KQQQI5.02M

QQA vs QQQI Performance

Nov 7, 2025 – Nov 9, 2026

+10.3%QQA+8.6%QQQI

Expense ratio: QQA 0.29%, better; QQQI 0.68%
Fund size: QQA $842M; QQQI $14.3B
1Y total return: QQA +10.3%, better; QQQI +8.6%
Yield (12M): QQA 10.66%; QQQI 14.96%, better
Holdings: QQA 123; QQQI 102
Avg volume (30D): QQA 124K sh; QQQI 5.02M sh, better
NAV per share: QQA $51.08; QQQI $49.50
52W range

ETF.net Grade

Pillar letters and Scores for QQA, QQQI, with each pillar’s weight
Pillar	QQA	QQQI
Cost30% weight	A92Higher	C53
Mission25% weight	A100Higher	A89
Risk15% weight	B62Higher	C53
Tradability15% weight	B64	A98Higher
Holdings10% weight	A73	A89Higher
Durability5% weight	A74	A77Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and QQQI 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 1st and QQQI 6th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 2AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 80
Rank 5AQYLGGlobal X Nasdaq 100 Covered Call & Growth ETFScore 76
Rank 6AQQQINEOS Nasdaq-100 High Income ETFScore 73
Rank 7ABALQiShares Nasdaq Premium Income Active ETFScore 72

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

QQQIANEOS Nasdaq-100 High 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.

QQQI A Nasdaq-100 income fund built around the tax code: it holds the index's stocks and sells NDX index options that qualify as Section 1256 contracts, taxed 60/40 long/short term, then pays monthly. Launched 2024, now a multi-billion-dollar fund.

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.

QQQI The Fund seeks high monthly income in a tax-efficient manner while allowing for equity appreciation. It invests in Nasdaq-100 constituents and uses NDX call options, including written calls and possible call spreads, to generate option-premium income.

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.

QQQI Income engine runs on index options treated as Section 1256 contracts (60% long-term, 40% short-term rates), with managers also hunting tax-loss harvesting opportunities.neosfunds.com neosfunds.com 2
Not a plain covered-call sleeve: the strategy can buy out-of-the-money NDX calls against the ones it sells, leaving room to capture part of a Nasdaq-100 rise.neosfunds.com
Pays monthly, trades very actively, and is one of the larger funds in the Nasdaq-100 income aisle, so getting in and out is rarely the hard part.
Does what the label says: Nasdaq-100 constituents plus an NDX call program, run actively rather than on a fixed monthly formula.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.

QQQI Costs 0.68% a year. That matches the cohort median, but the biggest rivals run cheaper: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
Distributions have been classified as return of capital. That can defer tax, but it also trims your cost basis; the 19a-1 notices show the breakdown.neosfunds.com
Written calls trade away part of a big Nasdaq-100 rally, and the fund only opened in January 2024, so its record spans one market regime.neosfunds.com

Full QQA profile⁠

Full QQQI profile⁠

QQA vs QQQI Holdings

How QQA and QQQI differ

Overlap by weight

74.8%

Shared holdings make up 98.2% of QQQI and 74.8% of QQA.

About this figure: QQA earns income from options, which aren’t counted.

QQQI earns income from options, which aren’t counted.

Level by level

Holdings101 in both74.8%
Asset classStocks100%
Countryby domicile99.97%
Sector10 Sectors99.7%

Sector

Sector weights in QQA and QQQI, widest gap first
Sector	Gap	QQA	QQQI
Industrials	QQA +0.3 points	5.4%	5.1%
Technology	QQQI +0.2 points	54.9%	55.1%
Consumer Discretionary	QQQI +0.1 points	11.8%	11.9%
Health Care	Same weight	5.2%	5.2%
Utilities	Same weight	1.2%	1.2%
Consumer Staples	Same weight	7.5%	7.5%
Materials	Same weight	1.2%	1.2%
Financials	Same weight	0.2%	0.2%
Energy	Same weight	0.5%	0.5%
Communication	Same weight	12.1%	12.1%

Country, concentration and asset class

Country by domicile

Country weights in QQA and QQQI, widest gap first
Country	Gap	QQA	QQQI
United States	QQA +0.1 points	97.3%	97.2%
Canada	QQQI +0.1 points	1.0%	1.1%
Netherlands	Same weight	0.8%	0.8%
Brazil	Same weight	0.4%	0.4%
China	Same weight	0.3%	0.3%
United Kingdom	QQQI +0.1 points	0.2%	0.3%

Concentration

Weight in the 10 largest Holdings

QQA54.0%
QQQI46.3%

Securities held

QQA122
QQQI102

Asset class

QQA: Stocks
QQQI: Stocks

Holdings

Only in QQA21
In both101
Only in QQQI1

Only in QQA

21 securities, 25.1% of QQA by weight

Invesco Premier US Government Money Portfolio21.00%
Toronto-Dominion Bank/The 148.80% 11/30/20260.35%
Royal Bank of Canada 163.05% 11/27/20260.33%
Wells Fargo & Co 119.39% 12/10/20260.30%
Canadian Imperial Bank of Commerce 143.00% 12/03/20260.29%
Citigroup Inc 154.75% 12/01/20260.28%
Royal Bank of Canada 171.13% 11/25/20260.28%
JPMorgan Chase & Co 140.94% 12/04/20260.26%
Wells Fargo & Co 185.69% 11/24/20260.21%
Wells Fargo & Co 187.87% 11/23/20260.21%
UBS Group AG 132.90% 12/09/20260.20%
UBS Group AG 215.53% 11/20/20260.18%
UBS Group AG 222.11% 11/16/20260.16%
UBS Group AG 215.54% 11/16/20260.16%
Royal Bank of Canada 210.38% 11/19/20260.15%
Royal Bank of Canada 210.42% 11/18/20260.15%
BNP Paribas SA 205.15% 11/17/20260.14%
Citigroup Inc 136.47% 12/07/20260.14%
Carnival Corp Ltd0.13%
Wells Fargo & Co 234.39% 11/13/20260.10%
UBS Group AG 255.80% 11/12/20260.10%

Only in QQQI

1 security, 2.1% of QQQI by weight

Cash & Other2.12%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QQA and QQQI, widest gap first
Holding	Gap	QQA	QQQI
Apple IncAAPL	QQQI +2.02 points	6.40%	8.42%
NVIDIA CorpNVDA	QQQI +1.81 points	5.76%	7.57%
Microsoft CorpMSFT	QQQI +1.62 points	5.04%	6.66%
Amazon.com IncAMZN	QQQI +1.14 points	3.58%	4.72%
Micron Technology IncMU	QQQI +0.88 points	2.75%	3.63%
Advanced Micro Devices IncAMD	QQQI +0.83 points	2.59%	3.42%
Tesla IncTSLA	QQQI +0.78 points	2.41%	3.19%
Meta Platforms IncMETA	QQQI +0.74 points	2.32%	3.06%
Walmart IncWMT	QQQI +0.70 points	2.16%	2.86%
Alphabet IncGOOGL	QQQI +0.66 points	2.14%	2.80%
Alphabet IncGOOG	QQQI +0.61 points	2.01%	2.62%
Broadcom IncAVGO	QQQI +0.57 points	1.79%	2.36%
Costco Wholesale CorpCOST	QQQI +0.52 points	1.65%	2.17%
Cisco Systems IncCSCO	QQQI +0.44 points	1.31%	1.75%
Palantir Technologies IncPLTR	QQQI +0.42 points	1.30%	1.72%
Intel CorpINTC	QQQI +0.33 points	1.04%	1.38%
Applied Materials IncAMAT	QQQI +0.32 points	0.93%	1.25%
Netflix IncNFLX	QQQI +0.32 points	0.93%	1.25%
Palo Alto Networks IncPANW	QQQI +0.32 points	0.90%	1.22%
Texas Instruments IncTXN	QQQI +0.28 points	0.90%	1.18%
Lam Research CorpLRCX	QQQI +0.28 points	0.89%	1.17%
Amgen IncAMGN	QQQI +0.28 points	0.88%	1.16%
Linde PLCLIN	QQQI +0.27 points	0.84%	1.11%
Crowdstrike Holdings IncCRWD	QQQI +0.26 points	0.78%	1.04%
Gilead Sciences IncGILD	QQQI +0.24 points	0.73%	0.97%
PepsiCo IncPEP	QQQI +0.22 points	0.68%	0.90%
KLA CorpKLAC	QQQI +0.22 points	0.64%	0.85%
Shopify IncSHOP	QQQI +0.21 points	0.64%	0.85%
T-Mobile US IncTMUS	QQQI +0.21 points	0.61%	0.82%
Analog Devices IncADI	QQQI +0.21 points	0.62%	0.83%
QUALCOMM IncQCOM	QQQI +0.20 points	0.61%	0.81%
Space Exploration Technologies CorpSPCX	QQQI +0.19 points	2.04%	2.23%
Intuitive Surgical IncISRG	QQQI +0.20 points	0.56%	0.76%
Booking Holdings IncBKNG	QQQI +0.15 points	0.43%	0.58%
Sandisk CorpSNDK	QQQI +0.16 points	0.43%	0.59%
Vertex Pharmaceuticals IncVRTX	QQQI +0.15 points	0.49%	0.64%
AppLovin CorpAPP	QQQI +0.14 points	0.42%	0.56%
Automatic Data Processing IncADP	QQQI +0.14 points	0.43%	0.57%
Marvell Technology IncMRVL	QQQI +0.14 points	0.44%	0.58%
ASML Holding NVASML	QQQI +0.14 points	0.47%	0.61%
Starbucks CorpSBUX	QQQI +0.14 points	0.42%	0.56%
Marriott International Inc/MDMAR	QQQI +0.13 points	0.38%	0.51%
Adobe IncADBE	QQQI +0.11 points	0.34%	0.45%
Constellation Energy CorpCEG	QQQI +0.12 points	0.31%	0.43%
Seagate Technology Holdings PLCSTX	QQQI +0.11 points	0.37%	0.48%
Regeneron Pharmaceuticals IncREGN	QQQI +0.11 points	0.32%	0.43%
Intuit IncINTU	QQQI +0.11 points	0.33%	0.44%
CSX CorpCSX	QQQI +0.11 points	0.32%	0.43%
Cadence Design Systems IncCDNS	QQQI +0.10 points	0.31%	0.41%
Monster Beverage CorpMNST	QQQI +0.10 points	0.32%	0.42%
Fortinet IncFTNT	QQQI +0.10 points	0.31%	0.41%
Cintas CorpCTAS	QQQI +0.10 points	0.31%	0.41%
Comcast CorpCMCSA	QQQI +0.09 points	0.30%	0.40%
Synopsys IncSNPS	QQQI +0.10 points	0.30%	0.40%
Western Digital CorpWDC	QQQI +0.09 points	0.34%	0.43%
Mondelez International IncMDLZ	QQQI +0.09 points	0.30%	0.39%
Airbnb IncABNB	QQQI +0.09 points	0.28%	0.37%
O'Reilly Automotive IncORLY	QQQI +0.09 points	0.26%	0.35%
DoorDash IncDASH	QQQI +0.09 points	0.26%	0.35%
Ross Stores IncROST	QQQI +0.09 points	0.26%	0.35%
MercadoLibre IncMELI	QQQI +0.08 points	0.27%	0.35%
ARM Holdings PLCARM	QQQI +0.08 points	0.27%	0.35%
Honeywell International IncHON	QQQI +0.07 points	0.25%	0.32%
American Electric Power Co IncAEP	QQQI +0.08 points	0.24%	0.32%
Fastenal CoFAST	QQQI +0.08 points	0.21%	0.29%
NXP Semiconductors NVNXPI	QQQI +0.07 points	0.22%	0.29%
Monolithic Power Systems IncMPWR	QQQI +0.06 points	0.21%	0.27%
PayPal Holdings IncPYPL	QQQI +0.06 points	0.18%	0.24%
Datadog IncDDOG	QQQI +0.07 points	0.21%	0.28%
PDD Holdings IncPDD	QQQI +0.06 points	0.20%	0.26%
PACCAR IncPCAR	QQQI +0.06 points	0.19%	0.25%
Coca-Cola Europacific Partners PLCCCEP	QQQI +0.06 points	0.18%	0.24%
Roper Technologies IncROP	QQQI +0.06 points	0.17%	0.23%
Autodesk IncADSK	QQQI +0.06 points	0.19%	0.25%
Keurig Dr Pepper IncKDP	QQQI +0.05 points	0.18%	0.23%
Xcel Energy IncXEL	QQQI +0.05 points	0.18%	0.23%
IDEXX Laboratories IncIDXX	QQQI +0.05 points	0.19%	0.24%
Diamondback Energy IncFANG	QQQI +0.05 points	0.18%	0.23%
Honeywell Aerospace IncHONA	QQQI +0.05 points	0.17%	0.22%
Exelon CorpEXC	QQQI +0.05 points	0.17%	0.22%
Baker Hughes CoBKR	QQQI +0.05 points	0.17%	0.22%
Paychex IncPAYX	QQQI +0.05 points	0.15%	0.20%
Thomson Reuters CorpTRI	QQQI +0.05 points	0.15%	0.20%
Workday IncWDAY	QQQI +0.05 points	0.13%	0.18%
Ferrovial NVFER	QQQI +0.05 points	0.15%	0.20%
GE HealthCare Technologies IncGEHC	QQQI +0.04 points	0.13%	0.17%
Take-Two Interactive Software IncTTWO	QQQI +0.04 points	0.14%	0.18%
Old Dominion Freight Line IncODFL	QQQI +0.04 points	0.12%	0.16%
Astera Labs IncALAB	QQQI +0.03 points	0.12%	0.15%
Teradyne IncTER	QQQI +0.04 points	0.12%	0.16%
Dexcom IncDXCM	QQQI +0.03 points	0.11%	0.14%
Strategy IncMSTR	QQQI +0.03 points	0.17%	0.20%
Microchip Technology IncMCHP	QQQI +0.04 points	0.11%	0.15%
Copart IncCPRT	QQQI +0.04 points	0.10%	0.14%
Rocket Lab CorpRKLB	QQQI +0.03 points	0.11%	0.14%
Moderna IncMRNA	QQQI +0.03 points	0.36%	0.39%
Axon Enterprise IncAXON	QQQI +0.03 points	0.09%	0.12%
Nebius Group NVNBIS	QQQI +0.02 points	0.11%	0.13%
Alnylam Pharmaceuticals IncALNY	QQQI +0.03 points	0.07%	0.10%
CoreWeave IncCRWV	QQQI +0.02 points	0.08%	0.10%

All 122 QQA holdings⁠All QQQI 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 QQQI Cost

Overpaying QQQI vs QQA

$7,300

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

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

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
QQQI 0.68%
Overpaying

Year by year

Year	QQA	QQQI	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%QQQI

QQA0.29%QQQI0.68%

0.00%1.20%

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

QQA 2nd cheapest of 30 funds

QQQI 13th cheapest of 30 funds

QQA vs QQQI Dividends

Last 12 months to Nov 9, 2026

Yield (12M): QQA 10.66%; QQQI 14.96%, better
Payout (12M): QQA $5.62; QQQI $7.63
Last payment: QQA $0.47; QQQI $0.63
Ex-dividend: QQA Oct 19, 2026; QQQI Oct 21, 2026
Paid on: QQA Oct 23, 2026; QQQI Oct 23, 2026
Frequency: QQA Monthly; QQQI Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

QQAMonthly · 27 paymentsAll QQA payments⁠

QQQIMonthly · 33 paymentsAll QQQI payments⁠

QQA vs QQQI 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 2024QQQI 13.2%since Feb 2024
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024QQQI 0.96since Feb 2024
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024QQQI −20.0%since Jan 2024
Market sensitivityBeta, 5 years: QQA 0.96QQQI 0.96; Market = 1

QQA and QQQI in the news

All news⁠

ETF Filings
Defiance files AI index funds that may also buy private companies outside the index
Oct 30, 2026QQQI
ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026QQQI
Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
Updated Oct 2, 2026QQQI

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QQA vs QQQI

In short

Stated mandate

Why people hold it