QQA vs XQQI: Grades, Fees and Holdings Compared

Invesco QQQ Income Advantage ETF

QQAANasdaq

NEOS Boosted Nasdaq-100 High Income ETF

XQQICNasdaq

Overlap

74.6%by weight

Expense ratio

QQA −0.69pt a year

QQA0.29%XQQI0.98%

Avg volume · 30D

XQQI 2.6×the volume

QQA119KXQQI309K

QQA vs XQQI Performance

Jul 31, 2026 – Oct 30, 2026

+0.8%QQA+0.5%XQQI

Expense ratio: QQA 0.29%, better; XQQI 0.98%
Fund size: QQA $894M; XQQI $396M
1Y total return: QQA +9.6%; XQQI No data
Yield (12M): QQA 10.49%; XQQI No data
Holdings: QQA 123; XQQI 103
Avg volume (30D): QQA 119K sh; XQQI 309K sh, better
NAV per share: QQA $53.44; XQQI $45.29
52W range

ETF.net Grade

Pillar letters and Scores for QQA, XQQI, with each pillar’s weight
Pillar	QQA	XQQI
Cost30% weight	A92Higher	F22
Mission25% weight	A100Higher	A81
Risk15% weight	B67Higher	D27
Tradability15% weight	B64	A82Higher
Holdings10% weight	B69	A78Higher
Durability5% weight	A74Higher	C54

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. QQA and XQQI 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 XQQI 17th 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 15BSEPQSTF Tactical Growth & Income ETFScore 55
Rank 17CXQQINEOS Boosted Nasdaq-100 High Income ETFScore 53
Rank 18CCAIQCalamos Nasdaq Autocallable Income ETFScore 52

Our read on each fund

ETF.net Research

QQAAInvesco QQQ Income Advantage ETF

XQQICNEOS Boosted 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.

XQQI Take the NEOS Nasdaq-100 covered-call recipe and turn the exposure dial to roughly 150% of notional. Same index-option income machinery as the plain version, with leverage amplifying both the premium collected and the drawdowns.

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.

XQQI The Fund seeks to boost performance by generating high monthly income in a tax-efficient manner, with potential for enhanced equity appreciation in rising markets.

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.

XQQI Mechanically simple boost: bought index calls plus sold index puts lift long exposure to about 150% of notional, and the NDX call overlay then writes premium on that larger base.neosfunds.com
Distributions are paid monthly, and the NDX index options it writes are Section 1256 contracts taxed at blended 60/40 rates, with opportunistic tax loss harvesting on top.neosfunds.com
The leverage is built from listed index options rather than a swap counterparty, inside a plain 1940 Act ETF wrapper with the usual prospectus and holdings disclosure.neosfunds.com neosfunds.com 2
It leans on an established franchise: NEOS built the boosted suite on the options framework already running in its largest Nasdaq-100, S&P 500 and bitcoin income funds.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.

XQQI At 0.98% a year it costs more than the typical Nasdaq-100 income fund, where the median is 0.68%, also the fee on the unlevered sibling QQQI.
Leverage cuts both ways: roughly 150% exposure magnifies Nasdaq-100 declines, while the sold calls hand back part of a strong rally.neosfunds.com neosfunds.com 2
It launched in 2026, so the record is short, and payouts have been classified as return of capital, which can reduce net asset value over time.neosfunds.com

Full QQA profile⁠

Full XQQI profile⁠

QQA vs XQQI Holdings

How QQA and XQQI differ

Overlap by weight

74.6%

Shared holdings make up 100% of XQQI and 75.7% of QQA.

Level by level

Holdings101 in both74.6%
Asset classEquity100%
Countryby domicile100%

Sector

No Sector split for XQQI.

Country, concentration and asset class

Country by domicile

Country weights in QQA and XQQI, widest gap first
Country	More in QQAMore in XQQI	QQA	XQQI
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	Same weight	0.2%	0.2%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

QQA53.2%
XQQI48.8%

Securities held

QQA122
XQQI103

Asset class

QQA: Equity
XQQI: Equity

Holdings

Only in QQA21
In both101
Only in XQQI2

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 XQQI

2 securities, 3.1% of XQQI by weight

Cash & Other2.41%
Ndx Us 01/15/27 C305000.72%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QQA and XQQI, widest gap first
Holding	More in QQAMore in XQQI	QQA	XQQI
Apple IncAAPL	XQQI +2.54 points	6.05%	8.59%
NVIDIA CorpNVDA	XQQI +2.27 points	6.12%	8.39%
Microsoft CorpMSFT	XQQI +1.92 points	4.68%	6.60%
Amazon.com IncAMZN	XQQI +1.29 points	3.13%	4.42%
Micron Technology IncMU	XQQI +1.20 points	3.46%	4.66%
Space Exploration Technologies CorpSPCX	QQA +1.07 points	2.03%	0.96%
Tesla IncTSLA	XQQI +1.03 points	2.52%	3.55%
Meta Platforms IncMETA	XQQI +0.89 points	2.21%	3.10%
Walmart IncWMT	XQQI +0.88 points	1.94%	2.82%
Alphabet IncGOOGL	XQQI +0.84 points	1.98%	2.82%
Advanced Micro Devices IncAMD	XQQI +0.81 points	3.03%	3.84%
Alphabet IncGOOG	XQQI +0.77 points	1.85%	2.62%
Broadcom IncAVGO	XQQI +0.70 points	1.95%	2.65%
Costco Wholesale CorpCOST	XQQI +0.66 points	1.45%	2.11%
Cisco Systems IncCSCO	XQQI +0.57 points	1.40%	1.97%
Palantir Technologies IncPLTR	XQQI +0.52 points	1.48%	2.00%
Linde PLCLIN	XQQI +0.40 points	0.76%	1.16%
Palo Alto Networks IncPANW	XQQI +0.39 points	1.02%	1.41%
Netflix IncNFLX	XQQI +0.37 points	0.85%	1.22%
Amgen IncAMGN	XQQI +0.36 points	0.82%	1.18%
Applied Materials IncAMAT	XQQI +0.36 points	1.10%	1.46%
Texas Instruments IncTXN	XQQI +0.35 points	0.94%	1.29%
Lam Research CorpLRCX	XQQI +0.36 points	1.04%	1.40%
Crowdstrike Holdings IncCRWD	XQQI +0.33 points	0.88%	1.21%
Gilead Sciences IncGILD	XQQI +0.32 points	0.67%	0.99%
PepsiCo IncPEP	XQQI +0.28 points	0.60%	0.88%
T-Mobile US IncTMUS	XQQI +0.27 points	0.52%	0.79%
Analog Devices IncADI	XQQI +0.26 points	0.69%	0.95%
KLA CorpKLAC	XQQI +0.25 points	0.72%	0.97%
Shopify IncSHOP	XQQI +0.25 points	0.66%	0.91%
Intuitive Surgical IncISRG	XQQI +0.24 points	0.52%	0.76%
Marvell Technology IncMRVL	XQQI +0.22 points	0.63%	0.85%
Vertex Pharmaceuticals IncVRTX	XQQI +0.22 points	0.45%	0.67%
Automatic Data Processing IncADP	XQQI +0.22 points	0.37%	0.59%
QUALCOMM IncQCOM	XQQI +0.20 points	0.64%	0.84%
Booking Holdings IncBKNG	XQQI +0.20 points	0.37%	0.57%
ASML Holding NVASML	XQQI +0.18 points	0.52%	0.70%
Starbucks CorpSBUX	XQQI +0.19 points	0.39%	0.58%
Sandisk CorpSNDK	XQQI +0.18 points	0.64%	0.82%
Adobe IncADBE	XQQI +0.18 points	0.32%	0.50%
Regeneron Pharmaceuticals IncREGN	XQQI +0.18 points	0.27%	0.45%
Seagate Technology Holdings PLCSTX	XQQI +0.16 points	0.52%	0.68%
Fortinet IncFTNT	XQQI +0.15 points	0.34%	0.49%
CSX CorpCSX	XQQI +0.15 points	0.32%	0.47%
Monster Beverage CorpMNST	XQQI +0.15 points	0.30%	0.45%
Comcast CorpCMCSA	XQQI +0.15 points	0.26%	0.41%
Cintas CorpCTAS	XQQI +0.15 points	0.29%	0.44%
Mondelez International IncMDLZ	XQQI +0.15 points	0.26%	0.41%
Western Digital CorpWDC	XQQI +0.13 points	0.47%	0.60%
Cadence Design Systems IncCDNS	XQQI +0.13 points	0.31%	0.44%
O'Reilly Automotive IncORLY	XQQI +0.13 points	0.23%	0.36%
Synopsys IncSNPS	XQQI +0.12 points	0.31%	0.43%
Marriott International Inc/MDMAR	XQQI +0.12 points	0.34%	0.46%
DoorDash IncDASH	XQQI +0.12 points	0.24%	0.36%
Ross Stores IncROST	XQQI +0.12 points	0.24%	0.36%
Constellation Energy CorpCEG	XQQI +0.11 points	0.31%	0.42%
MercadoLibre IncMELI	XQQI +0.10 points	0.28%	0.38%
Airbnb IncABNB	XQQI +0.10 points	0.23%	0.33%
Intuit IncINTU	XQQI +0.10 points	0.30%	0.40%
ARM Holdings PLCARM	XQQI +0.10 points	0.33%	0.43%
Baker Hughes CoBKR	XQQI +0.09 points	0.18%	0.27%
Monolithic Power Systems IncMPWR	XQQI +0.09 points	0.19%	0.28%
NXP Semiconductors NVNXPI	XQQI +0.09 points	0.22%	0.31%
American Electric Power Co IncAEP	XQQI +0.09 points	0.23%	0.32%
Datadog IncDDOG	XQQI +0.09 points	0.29%	0.38%
PACCAR IncPCAR	XQQI +0.08 points	0.18%	0.26%
Coca-Cola Europacific Partners PLCCCEP	XQQI +0.08 points	0.16%	0.24%
Xcel Energy IncXEL	XQQI +0.08 points	0.16%	0.24%
Honeywell International IncHON	XQQI +0.08 points	0.23%	0.31%
AppLovin CorpAPP	XQQI +0.08 points	0.25%	0.33%
PayPal Holdings IncPYPL	XQQI +0.07 points	0.16%	0.23%
Microchip Technology IncMCHP	XQQI +0.07 points	0.14%	0.21%
Autodesk IncADSK	XQQI +0.05 points	0.17%	0.22%
Diamondback Energy IncFANG	XQQI +0.05 points	0.19%	0.24%
Thomson Reuters CorpTRI	XQQI +0.05 points	0.14%	0.19%
Old Dominion Freight Line IncODFL	XQQI +0.05 points	0.12%	0.17%
Teradyne IncTER	XQQI +0.05 points	0.15%	0.20%
Honeywell Aerospace IncHONA	XQQI +0.05 points	0.17%	0.22%
Fastenal CoFAST	XQQI +0.04 points	0.20%	0.24%
Moderna IncMRNA	XQQI +0.05 points	0.29%	0.34%
Keurig Dr Pepper IncKDP	XQQI +0.04 points	0.16%	0.20%
PDD Holdings IncPDD	XQQI +0.04 points	0.17%	0.21%
Rocket Lab CorpRKLB	XQQI +0.03 points	0.12%	0.15%
Astera Labs IncALAB	XQQI +0.03 points	0.17%	0.20%
Exelon CorpEXC	XQQI +0.03 points	0.16%	0.19%
Copart IncCPRT	XQQI +0.03 points	0.09%	0.12%
CoreWeave IncCRWV	XQQI +0.03 points	0.09%	0.12%
Paychex IncPAYX	XQQI +0.02 points	0.13%	0.15%
IDEXX Laboratories IncIDXX	XQQI +0.02 points	0.15%	0.17%
Ferrovial NVFER	XQQI +0.02 points	0.14%	0.16%
GE HealthCare Technologies IncGEHC	XQQI +0.03 points	0.11%	0.14%
Strategy IncMSTR	QQA +0.02 points	0.17%	0.15%
Axon Enterprise IncAXON	XQQI +0.02 points	0.12%	0.14%
Nebius Group NVNBIS	XQQI +0.03 points	0.13%	0.16%
Take-Two Interactive Software IncTTWO	XQQI +0.02 points	0.12%	0.14%
Alnylam Pharmaceuticals IncALNY	XQQI +0.01 points	0.08%	0.09%
Dexcom IncDXCM	XQQI +0.01 points	0.10%	0.11%
Workday IncWDAY	XQQI +0.01 points	0.13%	0.14%
Roper Technologies IncROP	Same weight	0.15%	0.15%
Lumentum Holdings IncLITE	Same weight	0.27%	0.27%

All 122 QQA holdings⁠All XQQI 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 XQQI Cost

Overpaying XQQI vs QQA

$12,410

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

QQA 0.29%
$5,952
XQQI 0.98%
$18,362

Amount$10,000

Years30 years

Cost over time

QQA 0.29%
XQQI 0.98%
Overpaying

Year by year

Year	QQA	XQQI	Overpaying
10	$527	$1,729	$1,202
20	$2,044	$6,504	$4,460
30	$5,952	$18,362	$12,410

Expense ratio

0.29%QQA, cheaper
0.98%XQQI

QQA0.29%XQQI0.98%

0.00%1.20%

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

QQA 2nd cheapest of 30 funds

XQQI 23rd cheapest of 30 funds

QQA vs XQQI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QQA 10.49%; XQQI No data
Payout (12M): QQA $5.62; XQQI No data
Last payment: QQA $0.47; XQQI $0.88
Ex-dividend: QQA Oct 19, 2026; XQQI Oct 7, 2026
Paid on: QQA Oct 23, 2026; XQQI Oct 9, 2026
Frequency: QQA Monthly; XQQI Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

QQAMonthly · 27 paymentsAll QQA payments⁠

XQQIMonthly · 9 paymentsAll XQQI payments⁠

QQA vs XQQI 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 2024XQQI No data
Return per unit of riskSharpe ratio, 3 years: QQA 0.91since Aug 2024XQQI No data
Worst fallMax drawdown, 5 years: QQA −19.7%since Jul 2024XQQI No data
Market sensitivityBeta, 5 years: QQA 0.92XQQI 1.46; Market = 1

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