QQA vs QYLD: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

Global X Nasdaq 100 Covered Call ETF

QYLDANasdaq

Overlap

74.8%by weight

Expense ratio

QQA −0.31pt a year

QQA0.29%QYLD0.60%

Avg volume · 30D

QYLD 36.9×the volume

QQA124KQYLD4.59M

QQA vs QYLD Performance

Nov 7, 2025 – Nov 9, 2026

+10.3%QQA+14.8%QYLD

Expense ratio: QQA 0.29%, better; QYLD 0.60%
Fund size: QQA $842M; QYLD $7.84B
1Y total return: QQA +10.3%; QYLD +14.8%, better
Yield (12M): QQA 10.66%; QYLD 12.11%, better
Holdings: QQA 123; QYLD 103
Avg volume (30D): QQA 124K sh; QYLD 4.59M sh, better
NAV per share: QQA $51.08; QYLD $17.11
52W range

ETF.net Grade

Pillar letters and Scores for QQA, QYLD, with each pillar’s weight
Pillar	QQA	QYLD
Cost30% weight	A92Higher	B65
Mission25% weight	A100	A100
Risk15% weight	B62	A71Higher
Tradability15% weight	B64	A90Higher
Holdings10% weight	A73	A73
Durability5% weight	A74	A91Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and QYLD 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 QYLD 2nd 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 2AQYLDGlobal X Nasdaq 100 Covered Call ETFScore 80
Rank 4AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 79

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

QYLDAGlobal X Nasdaq 100 Covered Call 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.

QYLD Running since 2013, QYLD is the no-frills version of the Nasdaq-100 income trade: own the index, sell calls against it, pay out monthly. No stock picking, no manager discretion, just a rules-based buy-write index followed closely.

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.

QYLD QYLD seeks, before fees and expenses, to generally match the price and yield performance of the Cboe NASDAQ-100® BuyWrite V2 Index. It uses a buy-write strategy that holds NASDAQ-100 stocks and sells corresponding call options.

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.

QYLD Simple machine: holds Nasdaq-100 stocks, sells the matching calls, and tracks the Cboe NASDAQ-100 BuyWrite V2 Index closely. Nothing to second-guess.
Income arrives monthly, and the 0.60% fee sits under the median for Nasdaq-100 options-income funds.
A multi-billion-dollar fund that trades very actively, so getting in and out is rarely the hard part.

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.

QYLD Writing calls sells the upside. When the Nasdaq-100 runs past the strike, that gain goes to the option buyer, not the fund.
Leaner options on the same index: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
Payouts are funded by option premium and no target rate is declared, so the monthly check varies with volatility.

Full QQA profile⁠

Full QYLD profile⁠

QQA vs QYLD Holdings

How QQA and QYLD differ

Overlap by weight

74.8%

Shared holdings make up 99.9% of QYLD and 74.8% of QQA.

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

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

Level by level

Holdings101 in both74.8%
Sector10 Sectors96.8%
Asset classStocks100%
Countryby domicile99.99%

Sector

Sector weights in QQA and QYLD, widest gap first
Sector	Gap	QQA	QYLD
Technology	QYLD +3.2 points	54.9%	58.1%
Communication	QQA +1.0 points	12.1%	11.1%
Consumer Discretionary	QQA +0.8 points	11.8%	11.0%
Consumer Staples	QQA +0.7 points	7.5%	6.8%
Health Care	QQA +0.4 points	5.2%	4.8%
Industrials	QQA +0.2 points	5.4%	5.2%
Materials	QQA +0.1 points	1.2%	1.1%
Energy	Same weight	0.5%	0.5%
Utilities	Same weight	1.2%	1.2%
Financials	Same weight	0.2%	0.2%

Country, concentration and asset class

Country by domicile

Country weights in QQA and QYLD, widest gap first
Country	Gap	QQA	QYLD
United States	Same weight	97.3%	97.3%
Canada	QYLD +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	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

QQA54.0%
QYLD47.0%

Securities held

QQA122
QYLD102

Asset class

QQA: Stocks
QYLD: Stocks

Holdings

Only in QQA21
In both101
Only in QYLD1

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 QYLD

1 security, 0.0% of QYLD by weight

Other Payable & Receivables<0.01%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QQA and QYLD, widest gap first
Holding	Gap	QQA	QYLD
Apple IncAAPL	QYLD +2.15 points	6.40%	8.55%
NVIDIA CorpNVDA	QYLD +1.94 points	5.76%	7.70%
Microsoft CorpMSFT	QYLD +1.71 points	5.04%	6.75%
Amazon.com IncAMZN	QYLD +1.21 points	3.58%	4.79%
Micron Technology IncMU	QYLD +0.93 points	2.75%	3.68%
Advanced Micro Devices IncAMD	QYLD +0.87 points	2.59%	3.46%
Tesla IncTSLA	QYLD +0.81 points	2.41%	3.22%
Meta Platforms IncMETA	QYLD +0.79 points	2.32%	3.11%
Walmart IncWMT	QYLD +0.73 points	2.16%	2.89%
Alphabet IncGOOGL	QYLD +0.72 points	2.14%	2.86%
Space Exploration Technologies CorpSPCX	QYLD +0.68 points	2.04%	2.72%
Alphabet IncGOOG	QYLD +0.68 points	2.01%	2.69%
Broadcom IncAVGO	QYLD +0.60 points	1.79%	2.39%
Costco Wholesale CorpCOST	QYLD +0.56 points	1.65%	2.21%
Cisco Systems IncCSCO	QYLD +0.44 points	1.31%	1.75%
Palantir Technologies IncPLTR	QYLD +0.44 points	1.30%	1.74%
Intel CorpINTC	QYLD +0.35 points	1.04%	1.40%
Applied Materials IncAMAT	QYLD +0.32 points	0.93%	1.25%
Netflix IncNFLX	QYLD +0.32 points	0.93%	1.25%
Palo Alto Networks IncPANW	QYLD +0.31 points	0.90%	1.21%
Texas Instruments IncTXN	QYLD +0.30 points	0.90%	1.20%
Lam Research CorpLRCX	QYLD +0.30 points	0.89%	1.19%
Amgen IncAMGN	QYLD +0.30 points	0.88%	1.18%
Linde PLCLIN	QYLD +0.28 points	0.84%	1.12%
Crowdstrike Holdings IncCRWD	QYLD +0.27 points	0.78%	1.05%
Gilead Sciences IncGILD	QYLD +0.25 points	0.73%	0.98%
PepsiCo IncPEP	QYLD +0.23 points	0.68%	0.91%
KLA CorpKLAC	QYLD +0.22 points	0.64%	0.86%
Shopify IncSHOP	QYLD +0.21 points	0.64%	0.85%
Analog Devices IncADI	QYLD +0.21 points	0.62%	0.83%
T-Mobile US IncTMUS	QYLD +0.21 points	0.61%	0.82%
QUALCOMM IncQCOM	QYLD +0.21 points	0.61%	0.82%
Intuitive Surgical IncISRG	QYLD +0.20 points	0.56%	0.76%
Vertex Pharmaceuticals IncVRTX	QYLD +0.17 points	0.49%	0.66%
ASML Holding NVASML	QYLD +0.16 points	0.47%	0.63%
Marvell Technology IncMRVL	QYLD +0.15 points	0.44%	0.59%
Sandisk CorpSNDK	QYLD +0.15 points	0.43%	0.58%
Booking Holdings IncBKNG	QYLD +0.14 points	0.43%	0.57%
Automatic Data Processing IncADP	QYLD +0.14 points	0.43%	0.57%
Starbucks CorpSBUX	QYLD +0.15 points	0.42%	0.57%
AppLovin CorpAPP	QYLD +0.13 points	0.42%	0.55%
Marriott International Inc/MDMAR	QYLD +0.13 points	0.38%	0.51%
Seagate Technology Holdings PLCSTX	QYLD +0.12 points	0.37%	0.49%
Moderna IncMRNA	QYLD +0.11 points	0.36%	0.47%
Adobe IncADBE	QYLD +0.11 points	0.34%	0.45%
Western Digital CorpWDC	QYLD +0.11 points	0.34%	0.45%
Regeneron Pharmaceuticals IncREGN	QYLD +0.11 points	0.32%	0.43%
Constellation Energy CorpCEG	QYLD +0.11 points	0.31%	0.42%
Intuit IncINTU	QYLD +0.10 points	0.33%	0.43%
CSX CorpCSX	QYLD +0.10 points	0.32%	0.42%
Monster Beverage CorpMNST	QYLD +0.10 points	0.32%	0.42%
Cintas CorpCTAS	QYLD +0.10 points	0.31%	0.41%
Cadence Design Systems IncCDNS	QYLD +0.10 points	0.31%	0.41%
Fortinet IncFTNT	QYLD +0.10 points	0.31%	0.41%
Synopsys IncSNPS	QYLD +0.10 points	0.30%	0.40%
Comcast CorpCMCSA	QYLD +0.09 points	0.30%	0.40%
Mondelez International IncMDLZ	QYLD +0.09 points	0.30%	0.39%
ARM Holdings PLCARM	QYLD +0.09 points	0.27%	0.36%
MercadoLibre IncMELI	QYLD +0.09 points	0.27%	0.36%
Airbnb IncABNB	QYLD +0.09 points	0.28%	0.37%
Ross Stores IncROST	QYLD +0.08 points	0.26%	0.34%
DoorDash IncDASH	QYLD +0.08 points	0.26%	0.34%
O'Reilly Automotive IncORLY	QYLD +0.08 points	0.26%	0.34%
Honeywell International IncHON	QYLD +0.07 points	0.25%	0.32%
American Electric Power Co IncAEP	QYLD +0.08 points	0.24%	0.32%
Monolithic Power Systems IncMPWR	QYLD +0.06 points	0.21%	0.27%
NXP Semiconductors NVNXPI	QYLD +0.07 points	0.22%	0.29%
Fastenal CoFAST	QYLD +0.07 points	0.21%	0.28%
Datadog IncDDOG	QYLD +0.07 points	0.21%	0.28%
Autodesk IncADSK	QYLD +0.07 points	0.19%	0.26%
IDEXX Laboratories IncIDXX	QYLD +0.06 points	0.19%	0.25%
PACCAR IncPCAR	QYLD +0.06 points	0.19%	0.25%
PayPal Holdings IncPYPL	QYLD +0.06 points	0.18%	0.24%
Coca-Cola Europacific Partners PLCCCEP	QYLD +0.06 points	0.18%	0.24%
Keurig Dr Pepper IncKDP	QYLD +0.06 points	0.18%	0.24%
Xcel Energy IncXEL	QYLD +0.06 points	0.18%	0.24%
PDD Holdings IncPDD	QYLD +0.05 points	0.20%	0.25%
Honeywell Aerospace IncHONA	QYLD +0.06 points	0.17%	0.23%
Lumentum Holdings IncLITE	QYLD +0.06 points	0.17%	0.23%
Baker Hughes CoBKR	QYLD +0.05 points	0.17%	0.22%
Roper Technologies IncROP	QYLD +0.05 points	0.17%	0.22%
Exelon CorpEXC	QYLD +0.05 points	0.17%	0.22%
Diamondback Energy IncFANG	QYLD +0.05 points	0.18%	0.23%
Ferrovial NVFER	QYLD +0.05 points	0.15%	0.20%
Strategy IncMSTR	QYLD +0.05 points	0.17%	0.22%
Thomson Reuters CorpTRI	QYLD +0.05 points	0.15%	0.20%
Paychex IncPAYX	QYLD +0.05 points	0.15%	0.20%
Take-Two Interactive Software IncTTWO	QYLD +0.05 points	0.14%	0.19%
Workday IncWDAY	QYLD +0.05 points	0.13%	0.18%
GE HealthCare Technologies IncGEHC	QYLD +0.05 points	0.13%	0.18%
Teradyne IncTER	QYLD +0.04 points	0.12%	0.16%
Old Dominion Freight Line IncODFL	QYLD +0.04 points	0.12%	0.16%
Astera Labs IncALAB	QYLD +0.04 points	0.12%	0.16%
Rocket Lab CorpRKLB	QYLD +0.04 points	0.11%	0.15%
Microchip Technology IncMCHP	QYLD +0.04 points	0.11%	0.15%
Nebius Group NVNBIS	QYLD +0.03 points	0.11%	0.14%
Dexcom IncDXCM	QYLD +0.03 points	0.11%	0.14%
Copart IncCPRT	QYLD +0.04 points	0.10%	0.14%
Axon Enterprise IncAXON	QYLD +0.03 points	0.09%	0.12%
CoreWeave IncCRWV	QYLD +0.02 points	0.08%	0.10%

All 122 QQA holdings⁠All 102 QYLD 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 QYLD Cost

Overpaying QYLD vs QQA

$5,865

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

QQA 0.29%
$5,952
QYLD 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
QYLD 0.60%
Overpaying

Year by year

Year	QQA	QYLD	Overpaying
10	$527	$1,076	$549
20	$2,044	$4,116	$2,072
30	$5,952	$11,817	$5,865

Expense ratio

0.29%QQA, cheaper
0.60%QYLD

QQA0.29%QYLD0.60%

0.00%1.20%

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

QQA 2nd cheapest of 30 funds

QYLD 10th cheapest of 30 funds

QQA vs QYLD Dividends

Last 12 months to Nov 9, 2026

Yield (12M): QQA 10.66%; QYLD 12.11%, better
Payout (12M): QQA $5.62; QYLD $2.14
Last payment: QQA $0.47; QYLD $0.18
Ex-dividend: QQA Oct 19, 2026; QYLD Oct 19, 2026
Paid on: QQA Oct 23, 2026; QYLD Oct 22, 2026
Frequency: QQA Monthly; QYLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

QQAMonthly · 27 paymentsAll QQA payments⁠

QYLDMonthly · 46 paymentsAll QYLD payments⁠

QQA vs QYLD 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 2024QYLD 8.1%
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024QYLD 1.31
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024QYLD −24.6%
Market sensitivityBeta, 5 years: QQA 0.96QYLD 0.48; Market = 1

QQA and QYLD in the news

All news⁠

Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
Updated Oct 2, 2026QYLD
Income Watch
A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%
Sep 20, 2026QYLD

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QQA vs QYLD

In short

Stated mandate

Why people hold it

Worth knowing

How QQA and QYLD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QQA

Only in QYLD

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points

A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%

How QQA and QYLD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in QQA

Only in QYLD

Weight gaps