QQA vs QQQY: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

Defiance Nasdaq 100 Weekly Distribution ETF

QQQYCNasdaq

Overlap

0.0%by weight

Expense ratio

QQA −0.72pt a year

QQA0.29%QQQY1.01%

Avg volume · 30D

QQA 1.2×the volume

QQA119KQQQY99K

QQA vs QQQY Performance

Oct 31, 2025 – Oct 30, 2026

+9.6%QQA+11.1%QQQY

Expense ratio: QQA 0.29%, better; QQQY 1.01%
Fund size: QQA $894M; QQQY $179M
1Y total return: QQA +9.6%; QQQY +11.1%, better
Yield (12M): QQA 10.49%; QQQY 35.31%, better
Holdings: QQA 123; QQQY 4
Avg volume (30D): QQA 119K sh, better; QQQY 99K sh
NAV per share: QQA $53.44; QQQY $20.47
52W range

ETF.net Grade

Pillar letters and Scores for QQA, QQQY, with each pillar’s weight
Pillar	QQA	QQQY
Cost30% weight	A92Higher	F17
Mission25% weight	A100Higher	A70
Risk15% weight	B67Higher	C43
Tradability15% weight	B64Higher	B61
Holdings10% weight	B69	Not scored
Durability5% weight	A74Higher	C54

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and QQQY 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 QQQY 20th 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 19CQXQSGI Enhanced Nasdaq 100 ETFScore 51
Rank 20CQQQYDefiance Nasdaq 100 Weekly Distribution ETFScore 45
Rank 21DCANQCalamos Nasdaq Equity & Income ETFScore 39

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

QQQYCDefiance Nasdaq 100 Weekly Distribution 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.

QQQY The original 0DTE income fund. QQQY sells an in-the-money Nasdaq-100 put every trading day, holds Treasuries as collateral, and pays on a weekly schedule against a stated 30% annual distribution target.

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.

QQQY The Fund seeks current income and secondary exposure to the performance of the Nasdaq 100 Index.

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.

QQQY Launched September 2023 as the first ETF built around daily-expiring (0DTE) index options for income.businesswire.com
The machinery is easy to picture: sell one in-the-money Nasdaq-100 put per trading day, hold Treasuries behind it, keep the premium.defianceetfs.com
The payout policy is written down, not improvised: a 30% annual distribution rate target, paid weekly.

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.

QQQY The 1.01% fee sits above most Nasdaq-100 income funds; covered-call peers JEPQ, GPIQ and QYLG charge 0.35%.
Distributions can include return of capital, which hands back part of your own investment and reduces the share price.defianceetfs.com
Put-writing takes the index's downside while gains stop at the premium collected. You hold Treasuries and options, not Nasdaq-100 shares.defianceetfs.com

Full QQA profile⁠

Full QQQY profile⁠

QQA vs QQQY Holdings

How QQA and QQQY differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of QQA and 0.0% of QQQY.

Level by level

Holdings0 in both0.0%
Sector10 Sectors96.3%
Countryby domicile97.3%
Asset classEquity100%

Sector

Sector weights in QQA and QQQY, widest gap first
Sector	More in QQAMore in QQQY	QQA	QQQY
Industrials	QQA +2.4 points	5.3%	2.9%
Technology	QQQY +1.9 points	58.9%	60.8%
Communication	QQQY +1.6 points	11.4%	13.0%
Health Care	QQA +0.8 points	4.4%	3.6%
Consumer Discretionary	QQA +0.2 points	10.9%	10.7%
Consumer Staples	QQA +0.1 points	6.3%	6.2%
Energy	Same weight	0.5%	0.5%
Financials	Same weight	0.2%	0.2%
Utilities	Same weight	1.1%	1.1%
Materials	Same weight	1.0%	1.0%

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

QQA53.2%
QQQY100.9%

Securities held

QQA122
QQQY3

Asset class

QQA: Equity
QQQY: Equity

Holdings

Only in QQA122
In both0
Only in QQQY3

Only in QQA

122 securities, 99.9% of QQA by weight

Invesco Premier US Government Money Portfolio19.96%
NVIDIA Corp6.12%
Apple Inc6.05%
Microsoft Corp4.68%
Micron Technology Inc3.46%
Amazon.com Inc3.13%
Advanced Micro Devices Inc3.03%
Tesla Inc2.52%
Meta Platforms Inc2.21%
Space Exploration Technologies Corp2.03%
Alphabet Inc1.98%
Broadcom Inc1.95%
Walmart Inc1.94%
Alphabet Inc1.85%
Intel Corp1.59%
Palantir Technologies Inc1.48%
Costco Wholesale Corp1.45%
Cisco Systems Inc1.40%
Applied Materials Inc1.10%
Lam Research Corp1.04%
Palo Alto Networks Inc1.02%
Texas Instruments Inc0.94%
Crowdstrike Holdings Inc0.88%
Netflix Inc0.85%
Amgen Inc0.82%
Linde PLC0.76%
KLA Corp0.72%
Analog Devices Inc0.69%
Gilead Sciences Inc0.67%
Shopify Inc0.66%
QUALCOMM Inc0.64%
Sandisk Corp0.64%
Marvell Technology Inc0.63%
PepsiCo Inc0.60%
Seagate Technology Holdings PLC0.52%
Intuitive Surgical Inc0.52%
T-Mobile US Inc0.52%
ASML Holding NV0.52%
Western Digital Corp0.47%
Vertex Pharmaceuticals Inc0.45%
Toronto-Dominion Bank/The 148.80% 11/30/20260.41%
Starbucks Corp0.39%
Automatic Data Processing Inc0.37%
Booking Holdings Inc0.37%
Royal Bank of Canada 163.05% 11/27/20260.37%
Marriott International Inc/MD0.34%
Citigroup Inc 154.75% 12/01/20260.34%
Fortinet Inc0.34%
ARM Holdings PLC0.33%
Adobe Inc0.32%

Only in QQQY

3 securities, 100% of QQQY by weight

Ndx 12/18/2026 1000.34 C97.71%
First American Government Obligations Fund 12/01/20311.76%
Ndx 11/02/2026 28464.33 C0.72%

Weight gaps

QQA and QQQY share no securities.

All 122 QQA holdings⁠All 5 QQQY 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 QQQY Cost

Overpaying QQQY vs QQA

$12,898

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

QQA 0.29%
$5,952
QQQY 1.01%
$18,850

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
QQQY 1.01%
Overpaying

Year by year

Year	QQA	QQQY	Overpaying
10	$527	$1,780	$1,253
20	$2,044	$6,686	$4,642
30	$5,952	$18,850	$12,898

Expense ratio

0.29%QQA, cheaper
1.01%QQQY

QQA0.29%QQQY1.01%

0.00%1.20%

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

QQA 2nd cheapest of 30 funds

QQQY 25th cheapest of 30 funds

QQA vs QQQY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QQA 10.49%; QQQY 35.31%, better
Payout (12M): QQA $5.62; QQQY $7.22
Last payment: QQA $0.47; QQQY $0.12
Ex-dividend: QQA Oct 19, 2026; QQQY Oct 29, 2026
Paid on: QQA Oct 23, 2026; QQQY Oct 30, 2026
Frequency: QQA Monthly; QQQY Weekly

Distribution history

Per share, 2026, same scale for both

QQAMonthly · 10 paymentsAll QQA payments⁠

QQQYWeekly · 43 paymentsAll QQQY payments⁠

QQA vs QQQY 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 2024QQQY 15.7%
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024QQQY 0.70
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024QQQY −18.9%since Sep 2023
Market sensitivityBeta, 5 years: QQA 0.92QQQY 0.99; Market = 1

QQA and QQQY in the news

All news⁠

ETF Filings
Defiance files AI index funds that may also buy private companies outside the index
Oct 30, 2026QQQY

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QQA vs QQQY

In short

Stated mandate

Why people hold it

Worth knowing

How QQA and QQQY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QQA

Only in QQQY

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Defiance files AI index funds that may also buy private companies outside the index

How QQA and QQQY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QQA

Only in QQQY

Weight gaps