QQA vs SEPQ: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

STF Tactical Growth & Income ETF

SEPQBNasdaq

Overlap

69.2%by weight

Expense ratio

QQA −0.36pt a year

QQA0.29%SEPQ0.65%

Avg volume · 30D

QQA 4.3×the volume

QQA119KSEPQ27.4K

QQA vs SEPQ Performance

Jul 31, 2026 – Oct 30, 2026

+0.8%QQA+0.3%SEPQ

Expense ratio: QQA 0.29%, better; SEPQ 0.65%
Fund size: QQA $894M; SEPQ $93M
1Y total return: QQA +9.6%; SEPQ No data
Yield (12M): QQA 10.49%; SEPQ 12.02%, better
Holdings: QQA 123; SEPQ 97
Avg volume (30D): QQA 119K sh, better; SEPQ 27.4K sh
NAV per share: QQA $53.44; SEPQ $25.95
52W range

ETF.net Grade

Pillar letters and Scores for QQA, SEPQ, with each pillar’s weight
Pillar	QQA	SEPQ
Cost30% weight	A92Higher	B60
Mission25% weight	A100	Not scored
Risk15% weight	B67	B67
Tradability15% weight	B64Higher	D33
Holdings10% weight	B69Higher	B59
Durability5% weight	A74Higher	C50

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and SEPQ 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 SEPQ 15th 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 15BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFScore 55
Rank 15BSEPQSTF Tactical Growth & Income ETFScore 55
Rank 17CXQQINEOS Boosted Nasdaq-100 High Income ETFScore 53

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

SEPQBSTF Tactical Growth & 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.

SEPQ No data

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.

SEPQ No data

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.

SEPQ No data

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.

SEPQ No data

Full QQA profile⁠

Full SEPQ profile⁠

QQA vs SEPQ Holdings

How QQA and SEPQ differ

Overlap by weight

69.2%

Shared holdings make up 95.0% of SEPQ and 71.0% of QQA.

Level by level

Holdings88 in both69.2%
Asset classEquity100%
Countryby domicile99.8%

Sector

No Sector split for SEPQ.

Country, concentration and asset class

Country by domicile

Country weights in QQA and SEPQ, widest gap first
Country	More in QQAMore in SEPQ	QQA	SEPQ
United States	QQA +0.2 points	97.3%	97.1%
Canada	Same weight	1.1%	1.1%
Netherlands	Same weight	0.9%	0.9%
Brazil	Same weight	0.4%	0.4%
China	SEPQ +0.1 points	0.2%	0.3%
United Kingdom	SEPQ +0.1 points	0.2%	0.3%

Concentration

Weight in the 10 largest Holdings

QQA53.2%
SEPQ48.1%

Securities held

QQA122
SEPQ96

Asset class

QQA: Equity
SEPQ: Equity

Holdings

Only in QQA34
In both88
Only in SEPQ8

Only in QQA

34 securities, 28.9% of QQA by weight

Invesco Premier US Government Money Portfolio19.96%
Space Exploration Technologies Corp2.03%
Sandisk Corp0.64%
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%
ARM Holdings PLC0.33%
Royal Bank of Canada 171.13% 11/25/20260.29%
Moderna Inc0.29%
Lumentum Holdings Inc0.27%
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%
Monolithic Power Systems Inc0.19%
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%
Astera Labs Inc0.17%
BNP Paribas SA 245.48% 11/10/20260.16%
Teradyne Inc0.15%
Citigroup Inc 270.51% 11/05/20260.15%
UBS Group AG 225.13% 11/09/20260.15%
Microchip Technology Inc0.14%
Thomson Reuters Corp0.14%
Barclays Bank PLC 245.00% 11/04/20260.14%
Nebius Group NV0.13%
Citigroup Inc 199.14% 11/03/20260.12%
Rocket Lab Corp0.12%
UBS Group AG 265.52% 11/06/20260.11%
CoreWeave Inc0.09%

Only in SEPQ

8 securities, 1.0% of SEPQ by weight

Zscaler Inc0.20%
Atlassian Corp0.15%
Cognizant Technology Solutions Corp0.15%
Kraft Heinz Co/The0.14%
Verisk Analytics Inc0.13%
Insmed Inc0.12%
Charter Communications Inc0.07%
CoStar Group Inc0.06%

Weight gaps

All 88 Holdings in both funds, largest gap first.

Holding weights in QQA and SEPQ, widest gap first
Holding	More in QQAMore in SEPQ	QQA	SEPQ
Apple IncAAPL	SEPQ +2.60 points	6.05%	8.65%
Microsoft CorpMSFT	SEPQ +1.95 points	4.68%	6.63%
Meta Platforms IncMETA	SEPQ +1.16 points	2.21%	3.37%
NVIDIA CorpNVDA	SEPQ +1.07 points	6.12%	7.19%
Amazon.com IncAMZN	SEPQ +1.05 points	3.13%	4.17%
Walmart IncWMT	SEPQ +0.89 points	1.94%	2.83%
Micron Technology IncMU	SEPQ +0.83 points	3.46%	4.29%
Alphabet IncGOOGL	SEPQ +0.79 points	1.98%	2.77%
Costco Wholesale CorpCOST	SEPQ +0.78 points	1.45%	2.23%
Tesla IncTSLA	SEPQ +0.75 points	2.52%	3.27%
Advanced Micro Devices IncAMD	SEPQ +0.74 points	3.03%	3.77%
Cisco Systems IncCSCO	SEPQ +0.72 points	1.40%	2.12%
Alphabet IncGOOG	SEPQ +0.70 points	1.85%	2.55%
Texas Instruments IncTXN	QQA +0.63 points	0.94%	0.31%
Applied Materials IncAMAT	SEPQ +0.60 points	1.10%	1.70%
Lam Research CorpLRCX	SEPQ +0.55 points	1.04%	1.59%
Broadcom IncAVGO	SEPQ +0.47 points	1.95%	2.42%
Crowdstrike Holdings IncCRWD	SEPQ +0.43 points	0.88%	1.31%
KLA CorpKLAC	SEPQ +0.39 points	0.72%	1.11%
Linde PLCLIN	SEPQ +0.39 points	0.76%	1.15%
Amgen IncAMGN	SEPQ +0.36 points	0.82%	1.18%
Netflix IncNFLX	QQA +0.36 points	0.85%	0.49%
Shopify IncSHOP	SEPQ +0.36 points	0.66%	1.02%
QUALCOMM IncQCOM	SEPQ +0.35 points	0.64%	0.99%
Palantir Technologies IncPLTR	QQA +0.33 points	1.48%	1.15%
PepsiCo IncPEP	SEPQ +0.32 points	0.60%	0.92%
T-Mobile US IncTMUS	SEPQ +0.32 points	0.52%	0.84%
Gilead Sciences IncGILD	SEPQ +0.31 points	0.67%	0.98%
Palo Alto Networks IncPANW	SEPQ +0.27 points	1.02%	1.29%
Intuitive Surgical IncISRG	SEPQ +0.27 points	0.52%	0.79%
Seagate Technology Holdings PLCSTX	SEPQ +0.25 points	0.52%	0.77%
Booking Holdings IncBKNG	SEPQ +0.24 points	0.37%	0.61%
Vertex Pharmaceuticals IncVRTX	SEPQ +0.23 points	0.45%	0.68%
Analog Devices IncADI	QQA +0.23 points	0.69%	0.46%
Western Digital CorpWDC	SEPQ +0.22 points	0.47%	0.69%
Intel CorpINTC	SEPQ +0.21 points	1.59%	1.80%
Adobe IncADBE	SEPQ +0.20 points	0.32%	0.52%
Automatic Data Processing IncADP	SEPQ +0.19 points	0.37%	0.56%
Fortinet IncFTNT	SEPQ +0.18 points	0.34%	0.52%
Starbucks CorpSBUX	SEPQ +0.18 points	0.39%	0.57%
Marriott International Inc/MDMAR	SEPQ +0.17 points	0.34%	0.51%
Cadence Design Systems IncCDNS	SEPQ +0.16 points	0.31%	0.47%
ASML Holding NVASML	SEPQ +0.15 points	0.52%	0.67%
Cintas CorpCTAS	SEPQ +0.15 points	0.29%	0.44%
Synopsys IncSNPS	SEPQ +0.15 points	0.31%	0.46%
Comcast CorpCMCSA	SEPQ +0.15 points	0.26%	0.41%
Marvell Technology IncMRVL	QQA +0.15 points	0.63%	0.48%
CSX CorpCSX	SEPQ +0.14 points	0.32%	0.46%
AppLovin CorpAPP	SEPQ +0.14 points	0.25%	0.39%
Monster Beverage CorpMNST	SEPQ +0.13 points	0.30%	0.43%
Regeneron Pharmaceuticals IncREGN	SEPQ +0.13 points	0.27%	0.40%
Datadog IncDDOG	SEPQ +0.13 points	0.29%	0.42%
Mondelez International IncMDLZ	SEPQ +0.13 points	0.26%	0.39%
O'Reilly Automotive IncORLY	SEPQ +0.12 points	0.23%	0.35%
DoorDash IncDASH	SEPQ +0.12 points	0.24%	0.36%
NXP Semiconductors NVNXPI	SEPQ +0.12 points	0.22%	0.34%
Ross Stores IncROST	SEPQ +0.12 points	0.24%	0.36%
MercadoLibre IncMELI	SEPQ +0.11 points	0.28%	0.39%
PayPal Holdings IncPYPL	SEPQ +0.11 points	0.16%	0.27%
Honeywell International IncHON	SEPQ +0.11 points	0.23%	0.34%
Constellation Energy CorpCEG	SEPQ +0.10 points	0.31%	0.41%
Diamondback Energy IncFANG	SEPQ +0.11 points	0.19%	0.30%
Fastenal CoFAST	SEPQ +0.10 points	0.20%	0.30%
Airbnb IncABNB	SEPQ +0.10 points	0.23%	0.33%
American Electric Power Co IncAEP	SEPQ +0.10 points	0.23%	0.33%
Baker Hughes CoBKR	SEPQ +0.09 points	0.18%	0.27%
PDD Holdings IncPDD	SEPQ +0.10 points	0.17%	0.27%
Roper Technologies IncROP	SEPQ +0.08 points	0.15%	0.23%
Autodesk IncADSK	SEPQ +0.08 points	0.17%	0.25%
Ferrovial NVFER	SEPQ +0.08 points	0.14%	0.22%
PACCAR IncPCAR	SEPQ +0.08 points	0.18%	0.26%
Honeywell Aerospace IncHONA	SEPQ +0.07 points	0.17%	0.24%
Coca-Cola Europacific Partners PLCCCEP	SEPQ +0.08 points	0.16%	0.24%
Intuit IncINTU	QQA +0.08 points	0.30%	0.22%
Workday IncWDAY	SEPQ +0.07 points	0.13%	0.20%
Xcel Energy IncXEL	SEPQ +0.07 points	0.16%	0.23%
Old Dominion Freight Line IncODFL	SEPQ +0.06 points	0.12%	0.18%
Exelon CorpEXC	SEPQ +0.06 points	0.16%	0.22%
IDEXX Laboratories IncIDXX	SEPQ +0.06 points	0.15%	0.21%
Keurig Dr Pepper IncKDP	SEPQ +0.06 points	0.16%	0.22%
GE HealthCare Technologies IncGEHC	SEPQ +0.06 points	0.11%	0.17%
Paychex IncPAYX	SEPQ +0.06 points	0.13%	0.19%
Take-Two Interactive Software IncTTWO	SEPQ +0.05 points	0.12%	0.17%
Dexcom IncDXCM	SEPQ +0.05 points	0.10%	0.15%
Axon Enterprise IncAXON	SEPQ +0.05 points	0.12%	0.17%
Copart IncCPRT	SEPQ +0.05 points	0.09%	0.14%
Alnylam Pharmaceuticals IncALNY	SEPQ +0.04 points	0.08%	0.12%
Strategy IncMSTR	QQA +0.03 points	0.17%	0.14%

All 122 QQA holdings⁠All 101 SEPQ 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 SEPQ Cost

Overpaying SEPQ vs QQA

$6,765

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

QQA 0.29%
$5,952
SEPQ 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
SEPQ 0.65%
Overpaying

Year by year

Year	QQA	SEPQ	Overpaying
10	$527	$1,163	$636
20	$2,044	$4,440	$2,396
30	$5,952	$12,717	$6,765

Expense ratio

0.29%QQA, cheaper
0.65%SEPQ

QQA0.29%SEPQ0.65%

0.00%1.20%

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

QQA 2nd cheapest of 30 funds

SEPQ 12th cheapest of 30 funds

QQA vs SEPQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QQA 10.49%; SEPQ 12.02%, better
Payout (12M): QQA $5.62; SEPQ $3.13
Last payment: QQA $0.47; SEPQ $0.27
Ex-dividend: QQA Oct 19, 2026; SEPQ Oct 22, 2026
Paid on: QQA Oct 23, 2026; SEPQ Oct 23, 2026
Frequency: QQA Monthly; SEPQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

QQAMonthly · 27 paymentsAll QQA payments⁠

SEPQMonthly · 46 paymentsAll SEPQ payments⁠

QQA vs SEPQ 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 2024SEPQ No data
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024SEPQ No data
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024SEPQ No data
Market sensitivityBeta, 5 years: QQA 0.92SEPQ 0.81; Market = 1

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