QQQE vs QQQM: Grades, Fees and Holdings Compared

Direxion NASDAQ-100 Equal Weighted Index ETF

QQQECNasdaq

Invesco NASDAQ 100 ETF

QQQMANasdaq

Overlap

53.0%by weight

Expense ratio

QQQM −0.20pt a year

QQQE0.35%QQQM0.15%

Avg volume · 30D

QQQM 17.4×the volume

QQQE175KQQQM3.03M

5Y return · a year

QQQM +5.7pt

QQQE+7.4%QQQM+13.1%

QQQE vs QQQM Performance

Oct 29, 2021 – Oct 30, 2026

+43.1%QQQE+84.8%QQQM

Expense ratio: QQQE 0.35%; QQQM 0.15%, better
Fund size: QQQE $1.46B; QQQM $106B
1Y total return: QQQE +12.9%, better; QQQM +10.3%
Yield (12M): QQQE 0.60%, better; QQQM 0.46%
Holdings: QQQE 102; QQQM 105
Avg volume (30D): QQQE 175K sh; QQQM 3.03M sh, better
NAV per share: QQQE $119.16; QQQM $284.31
52W range

ETF.net Grade

Pillar letters and Scores for QQQE, QQQM, with each pillar’s weight
Pillar	QQQE	QQQM
Cost30% weight	F17	A74Higher
Mission25% weight	A72	A100Higher
Risk15% weight	B68Higher	C51
Tradability15% weight	C42	A86Higher
Holdings10% weight	A83Higher	B61
Durability5% weight	B69	A76Higher

Rank among Nasdaq-100 funds

How we build Categories ›

Same Category. QQQE and QQQM are both graded against the same 10 Nasdaq-100 funds, so their Grades compare head to head.

Nasdaq-100⁠

Category · 10 funds

See all 10 ›

QQQM ranks 1st and QQQE 8th of 10 funds in the Nasdaq-100 Category.

Rank 1AQQQMInvesco NASDAQ 100 ETFScore 77
Rank 2AQQQInvesco QQQ Trust, Series 1Score 76
Rank 7CQTOPiShares Nasdaq Top 30 Stocks ETFScore 52
Rank 8CQQQEDirexion NASDAQ-100 Equal Weighted Index ETFScore 51
Rank 9DQBIGInvesco Top QQQ ETFScore 37

Our read on each fund

ETF.net Research

QQQECDirexion NASDAQ-100 Equal Weighted Index ETF

QQQMAInvesco NASDAQ 100 ETF

In short

QQQE The Nasdaq-100 with the megacaps turned down. QQQE tracks an equal-weighted version of the index, so all roughly 100 names carry the same slot instead of a handful of giants steering the whole ship.

QQQM The Nasdaq-100 in a thriftier wrapper. Launched in 2020, QQQM holds the same index as Invesco's famous original and charges 0.15% a year instead of 0.18%, built for people who buy and sit rather than trade.

Stated mandate

QQQE The fund seeks to track the NASDAQ-100 Equal Weighted Index before fees and expenses.

QQQM The Fund seeks to track the performance of the NASDAQ-100 Index before fees and expenses by generally investing at least 90% of its assets in index securities.

Why people hold it

QQQE Equal weighting gives each of the roughly 100 Nasdaq-100 names the same slot, so a few trillion-dollar giants don't dominate the outcome.direxion.com
One job since 2012: track the NASDAQ-100 Equal Weighted Index. Long history, same mandate the whole way.
A billion-dollar-plus fund that pays quarterly, and its portfolio matches the label it wears.
Among the stronger implementations in the Nasdaq-100 tracker group, with tight adherence to its stated index.

QQQM Same NASDAQ-100 index as Invesco's original fund, for 0.15% instead of 0.18%. Identical mandate, smaller toll.invesco.com
Undercuts the typical Nasdaq-100 wrapper (cohort median 0.20%) and costs well under half the equal-weight version, QQQE, at 0.35%.
The mandate is literal: at least 90% of assets in index securities, tracking about 100 of the largest Nasdaq-listed non-financial companies.nasdaq.com
A multi-billion-dollar, actively traded fund and one of the stronger implementations in its Nasdaq-100 peer group.

Worth knowing

QQQE At 0.35% a year, it costs more than cap-weighted Nasdaq-100 trackers like QQQM (0.15%) and QQQ (0.18%). The equal-weight twist is what you're paying up for.
Equal weight changes the weights, not the roster. Same Nasdaq-100 companies, same growth-and-tech character underneath.
Moderately traded rather than a volume leader of the category, so spreads can run wider than the largest Nasdaq-100 funds.

QQQM The index excludes financial companies and requires a Nasdaq listing, so whole slices of the US market never show up here.nasdaq.com
Modified market-cap weighting means the biggest names carry the biggest weights, so a short list of mega-caps drives most of the ride.nasdaq.com
Distributions land quarterly, and the index selects on size, not dividends.nasdaq.com

Full QQQE profile⁠

Full QQQM profile⁠

QQQE vs QQQM Holdings

How QQQE and QQQM differ

Overlap by weight

53.0%

Shared holdings make up 100% of QQQE and 99.9% of QQQM.

Level by level

Holdings101 in both53.0%
Sector10 Sectors83.9%
Countryby domicile95.6%
Asset classEquity100%

Sector

Sector weights in QQQE and QQQM, widest gap first
Sector	More in QQQEMore in QQQM	QQQE	QQQM
Technology	QQQM +13.8 points	45.4%	59.2%
Industrials	QQQE +6.7 points	12.3%	5.6%
Health Care	QQQE +4.5 points	8.9%	4.4%
Utilities	QQQE +2.7 points	3.8%	1.1%
Communication	QQQM +1.9 points	9.0%	10.9%
Energy	QQQE +1.3 points	1.8%	0.5%
Financials	QQQE +0.7 points	1.0%	0.3%
Consumer Staples	QQQE +0.3 points	6.6%	6.3%
Consumer Discretionary	QQQM +0.3 points	10.2%	10.5%
Materials	Same weight	1.0%	1.0%

Country, concentration and asset class

Country by domicile

Country weights in QQQE and QQQM, widest gap first
Country	More in QQQEMore in QQQM	QQQE	QQQM
United States	QQQM +4.4 points	92.9%	97.3%
Canada	QQQE +1.2 points	2.3%	1.1%
Netherlands	QQQE +1.1 points	2.0%	0.9%
United Kingdom	QQQE +0.8 points	1.0%	0.2%
China	QQQE +0.8 points	1.0%	0.2%
Brazil	QQQE +0.5 points	0.9%	0.4%

Concentration

Weight in the 10 largest Holdings

QQQE12.0%
QQQM46.5%

Securities held

QQQE101
QQQM102

Asset class

QQQE: Equity
QQQM: Equity

Holdings

Only in QQQE0
In both101
Only in QQQM1

Only in QQQE

0 securities, 0.0% of QQQE by weight

Only in QQQM

1 security, 0.1% of QQQM by weight

Invesco Government & Agency Portfolio0.13%

Weight gaps

The 100 widest of 101 Holdings in both funds.

Holding weights in QQQE and QQQM, widest gap first
Holding	More in QQQEMore in QQQM	QQQE	QQQM
NVIDIA CorpNVDA	QQQM +7.10 points	0.98%	8.08%
Apple IncAAPL	QQQM +6.87 points	1.12%	7.99%
Microsoft CorpMSFT	QQQM +5.11 points	1.06%	6.17%
Micron Technology IncMU	QQQM +3.58 points	0.99%	4.57%
Amazon.com IncAMZN	QQQM +3.17 points	0.95%	4.12%
Advanced Micro DevicesAMD	QQQM +2.78 points	1.22%	4.00%
Tesla IncTSLA	QQQM +2.21 points	1.11%	3.32%
Alphabet Inc-Cl AGOOGL	QQQM +2.19 points	0.42%	2.61%
Alphabet Inc-Cl CGOOG	QQQM +2.02 points	0.43%	2.45%
Meta Platforms Inc-Class AMETA	QQQM +1.80 points	1.11%	2.91%
Space Exploration Techn-Cl ASPCX	QQQM +1.65 points	1.02%	2.67%
Broadcom IncAVGO	QQQM +1.62 points	0.95%	2.57%
Walmart IncWMT	QQQM +1.38 points	1.17%	2.55%
Intel CorpINTC	QQQM +1.05 points	1.04%	2.09%
Ge Healthcare TechnologyGEHC	QQQE +0.94 points	1.09%	0.15%
Microchip Technology IncMCHP	QQQE +0.93 points	1.12%	0.19%
Keurig Dr Pepper IncKDP	QQQE +0.91 points	1.12%	0.21%
Nxp Semiconductors NVNXPI	QQQE +0.91 points	1.20%	0.29%
Thomson Reuters CorpTRI	QQQE +0.91 points	1.10%	0.19%
Moderna IncMRNA	QQQE +0.88 points	1.27%	0.39%
Palantir Technologies Inc-APLTR	QQQM +0.89 points	1.07%	1.96%
PayPal Holdings IncPYPL	QQQE +0.89 points	1.10%	0.21%
Roper Technologies IncROP	QQQE +0.88 points	1.07%	0.19%
Exelon CorpEXC	QQQE +0.86 points	1.07%	0.21%
Strategy IncMSTR	QQQE +0.86 points	1.08%	0.22%
Cisco Systems IncCSCO	QQQM +0.85 points	1.00%	1.85%
Idexx Laboratories IncIDXX	QQQE +0.85 points	1.05%	0.20%
Xcel Energy IncXEL	QQQE +0.85 points	1.06%	0.21%
Costco Wholesale CorpCOST	QQQM +0.84 points	1.07%	1.91%
Workday Inc-Class AWDAY	QQQE +0.83 points	1.00%	0.17%
Coca-Cola Europacific PartneCCEP	QQQE +0.83 points	1.04%	0.21%
Fastenal CoFAST	QQQE +0.82 points	1.08%	0.26%
Honeywell Aerospace IncHONA	QQQE +0.81 points	1.03%	0.22%
Ferrovial NVFER	QQQE +0.81 points	0.99%	0.18%
Diamondback Energy IncFANG	QQQE +0.79 points	1.04%	0.25%
Copart IncCPRT	QQQE +0.79 points	0.91%	0.12%
Rocket Lab CorpRKLB	QQQE +0.79 points	0.94%	0.15%
Astera Labs IncALAB	QQQE +0.77 points	0.99%	0.22%
American Electric PowerAEP	QQQE +0.77 points	1.07%	0.30%
Dexcom IncDXCM	QQQE +0.76 points	0.89%	0.13%
Datadog Inc - Class ADDOG	QQQE +0.75 points	1.14%	0.39%
Honeywell International IncHON	QQQE +0.76 points	1.06%	0.30%
Take-Two Interactive SoftwreTTWO	QQQE +0.73 points	0.89%	0.16%
Marriott International -Cl AMAR	QQQE +0.74 points	1.19%	0.45%
Autodesk IncADSK	QQQE +0.73 points	0.95%	0.22%
Pdd Holdings IncPDD	QQQE +0.73 points	0.96%	0.23%
Synopsys IncSNPS	QQQE +0.72 points	1.13%	0.41%
Old Dominion Freight LineODFL	QQQE +0.72 points	0.87%	0.15%
Cintas CorpCTAS	QQQE +0.72 points	1.10%	0.38%
Ross Stores IncROST	QQQE +0.71 points	1.03%	0.32%
Monolithic Power Systems IncMPWR	QQQE +0.71 points	0.96%	0.25%
Paychex IncPAYX	QQQE +0.70 points	0.87%	0.17%
O'reilly Automotive IncORLY	QQQE +0.70 points	1.01%	0.31%
Regeneron PharmaceuticalsREGN	QQQE +0.68 points	1.04%	0.36%
Mondelez International Inc-AMDLZ	QQQE +0.67 points	1.02%	0.35%
Nebius Group NVNBIS	QQQE +0.67 points	0.85%	0.18%
Lumentum Holdings IncLITE	QQQE +0.66 points	1.02%	0.36%
Teradyne IncTER	QQQE +0.66 points	0.86%	0.20%
Baker Hughes CoBKR	QQQE +0.64 points	0.87%	0.23%
Alnylam Pharmaceuticals IncALNY	QQQE +0.63 points	0.73%	0.10%
Monster Beverage CorpMNST	QQQE +0.63 points	1.02%	0.39%
Axon Enterprise IncAXON	QQQE +0.63 points	0.78%	0.15%
Csx CorpCSX	QQQE +0.63 points	1.05%	0.42%
Airbnb Inc-Class AABNB	QQQE +0.62 points	0.92%	0.30%
Cadence Design Sys IncCDNS	QQQE +0.62 points	1.03%	0.41%
Coreweave Inc-Cl ACRWV	QQQE +0.61 points	0.73%	0.12%
Paccar IncPCAR	QQQE +0.61 points	0.84%	0.23%
Constellation EnergyCEG	QQQE +0.57 points	0.98%	0.41%
Intuit IncINTU	QQQE +0.55 points	0.94%	0.39%
Arm Holdings Plc-AdrARM	QQQE +0.53 points	0.96%	0.43%
Automatic Data ProcessingADP	QQQE +0.52 points	1.01%	0.49%
Lam Research CorpLRCX	QQQM +0.52 points	0.86%	1.38%
Intuitive Surgical IncISRG	QQQE +0.52 points	1.21%	0.69%
Applied Materials IncAMAT	QQQM +0.52 points	0.93%	1.45%
Comcast Corp-Class ACMCSA	QQQE +0.51 points	0.85%	0.34%
Mercadolibre IncMELI	QQQE +0.51 points	0.87%	0.36%
Applovin Corp-Class AAPP	QQQE +0.49 points	0.83%	0.34%
Starbucks CorpSBUX	QQQE +0.49 points	1.01%	0.52%
Doordash Inc - ADASH	QQQE +0.46 points	0.78%	0.32%
Adobe IncADBE	QQQE +0.43 points	0.86%	0.43%
Vertex Pharmaceuticals IncVRTX	QQQE +0.42 points	1.01%	0.59%
Fortinet IncFTNT	QQQE +0.39 points	0.83%	0.44%
Netflix IncNFLX	QQQM +0.34 points	0.78%	1.12%
Palo Alto Networks IncPANW	QQQM +0.33 points	1.01%	1.34%
Asml Holding Nv-Ny Reg ShsASML	QQQE +0.32 points	1.00%	0.68%
Analog Devices IncADI	QQQE +0.30 points	1.21%	0.91%
Booking Holdings IncBKNG	QQQE +0.28 points	0.77%	0.49%
Shopify Inc - Class ASHOP	QQQE +0.28 points	1.15%	0.87%
Western Digital CorpWDC	QQQE +0.27 points	0.89%	0.62%
Qualcomm IncQCOM	QQQE +0.26 points	1.10%	0.84%
Gilead Sciences IncGILD	QQQE +0.26 points	1.15%	0.89%
Marvell Technology IncMRVL	QQQE +0.22 points	1.05%	0.83%
Pepsico IncPEP	QQQE +0.18 points	0.97%	0.79%
Seagate Technology HoldingsSTX	QQQE +0.17 points	0.86%	0.69%
T-Mobile Us IncTMUS	QQQE +0.15 points	0.83%	0.68%
Linde PLCLIN	QQQE +0.04 points	1.04%	1.00%
Kla CorpKLAC	QQQE +0.02 points	0.97%	0.95%
Texas Instruments IncTXN	QQQM +0.02 points	1.22%	1.24%
Sandisk CorpSNDK	QQQE +0.02 points	0.86%	0.84%
Crowdstrike Holdings Inc - ACRWD	QQQM +0.01 points	1.15%	1.16%

All 103 QQQE holdings⁠All 103 QQQM 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.

QQQE vs QQQM Cost

Overpaying QQQE vs QQQM

$3,989

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

QQQE 0.35%
$7,126
QQQM 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

QQQE 0.35%
QQQM 0.15%
Overpaying

Year by year

Year	QQQE	QQQM	Overpaying
10	$634	$274	$360
20	$2,454	$1,071	$1,383
30	$7,126	$3,137	$3,989

Expense ratio

0.35%QQQE
0.15%QQQM, cheaper

QQQM0.15%QQQE0.35%

0.10%0.58%

Middle half of Nasdaq-100 funds
Median 0.20%

QQQM 3rd cheapest of 10 funds

QQQE 9th cheapest of 10 funds

QQQE vs QQQM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): QQQE 0.60%, better; QQQM 0.46%
Payout (12M): QQQE $0.70; QQQM $1.32
Last payment: QQQE $0.17; QQQM $0.31
Ex-dividend: QQQE Sep 22, 2026; QQQM Sep 21, 2026
Paid on: QQQE Sep 29, 2026; QQQM Sep 25, 2026
Frequency: QQQE Quarterly; QQQM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

QQQEQuarterly · 40 paymentsAll QQQE payments⁠

QQQMQuarterly · 24 paymentsAll QQQM payments⁠

QQQE vs QQQM Risk

Fall from peak · 5 years

QQQE
QQQM

Risk facts

VolatilityStd dev, 3 years: QQQE 15.0%, betterQQQM 17.8%
Return per unit of riskSharpe ratio, 3 years: QQQE 0.92QQQM 1.15, better
Worst fallMax drawdown, 5 years: QQQE −32.1%, betterQQQM −35.0%
Market sensitivityBeta, 5 years: QQQE 1.08QQQM 1.23; Market = 1

QQQE and QQQM in the news

All news⁠

New ETFs
Franklin's new ETFs turn stock dividends into bitcoin, but still have to pay that income out
Oct 30, 2026QQQM
New ETFs
Liquid Strategies' new Nasdaq income ETF is selling S&P 500 puts
Oct 27, 2026QQQM
Deep Dive
SpaceX more than doubles its Nadaq-100 weighting as post-IPO lockups expire
Oct 23, 2026QQQM
Head-to-Head
New money goes to QQQM. A taxable QQQ holding can stay.
Oct 23, 2026QQQM
Head-to-Head
Own the Invesco NASDAQ 100 ETF rather than Invesco QQQ Trust, Series 1, unless you trade options
Oct 13, 2026QQQM
Head-to-Head
Invesco QQQ Trust, Series 1 vs Invesco NASDAQ 100 ETF: same stocks, cheaper unless you trade options
Oct 10, 2026QQQM

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QQQE vs QQQM

In short

Stated mandate

Why people hold it