Dividend comparison

QQQ vs IWY: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco QQQ Trust, Series 1 and iShares Russell Top 200 Growth ETF, side by side. Updated October 21, 2026.

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QQQ vs IWY: key differences
The short answer, from the latest data on this page.
  • Fees. QQQ is cheaper at 0.18% a year versus 0.20% for IWY. On $10,000 that is $2 a year less in fees.
  • Income. QQQ pays more income, yielding 0.53% over the last twelve months versus 0.34% for IWY. That is about $19 more a year on $10,000. QQQ pays annual, IWY pays quarterly.
  • Performance. Over the last 5 years, QQQ returned 97.0% versus 83.2% for IWY, with dividends reinvested. $10,000 would have grown to $19,698 in QQQ and $18,316 in IWY.
  • Risk. QQQ has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.1%, against -32.7% for IWY.
  • Diversification. QQQ holds 102 positions and IWY holds 101. The ten largest positions make up 47.2% of QQQ and 60.9% of IWY.
  • Overlap. 61% of the two portfolios overlap by weight, across 44 shared holdings.
  • Dividend growth. QQQ grew its yearly payout 13.3% a year over the last 4 years, versus 3.5% for IWY.
  • Size. QQQ is the larger fund with $487.5 billion in assets, against $16.2 billion for IWY.

Bottom line: QQQ has the edge on these figures, with lower fees, stronger 5-year returns and faster dividend growth. IWY does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricQQQ
Invesco QQQ Trust, Series 1
IWY
iShares Russell Top 200 Growth ETF
Dividend yield (TTM)0.53%0.34%
Dividend / share (TTM)$3.79$0.97
Payout frequencyAnnualQuarterly
Last dividend$0.7514 on Oct 8, 2026$0.2310 on Sep 18, 2026
Ex-dividend dateDec 21, 2026Sep 15, 2026
Next payment$0.7941 on Dec 28, 2026—
Dividend growth (CAGR)13.3% over 4 yrs3.5% over 4 yrs
Price$717.63$287.93
Dividend growth streak—1 year
Beta1.231.17
Max drawdown (5Y)-35.1%-32.7%
Market cap$479.05B$16.10B
ExchangeNASDAQAMEX
Expense ratio0.18%0.20%
Assets under management$487.46B$16.23B
Number of holdings102101
Top 10 concentration47.2%60.9%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

QQQ

$4.40/mo

$53 /yr at 0.53% yield

IWY

$2.81/mo

$34 /yr at 0.34% yield

Dividend history
Total dividends paid per share in each calendar year. QQQ pays annual; IWY pays quarterly.
YearQQQIWY
2025$2.7949$1.0051
2024$3.0623$0.9968
2023$2.3200$1.1862
2022$2.1351$1.0596
2021$1.6968$0.8742
Strategy: Large-cap growth
Funds that hold the faster-growing half of the large-cap market, selected by measures like earnings growth, sales growth and price momentum. In practice that means heavy weights in technology and communication companies, with the largest few names often making up a third of the fund or more. Dividends are small because growth companies reinvest their cash instead of paying it out.

Concentration in a handful of mega-cap stocks makes these funds swing harder than the broad market in both directions, and they offer little current income.

What QQQ vs IWY actually do

QQQ
Invesco's fund tracking the Nasdaq-100, the largest non-financial companies listed on the Nasdaq exchange.

The index is modified market-cap weighted and excludes financials by rule, which is why it lands so heavily in technology, communication services and consumer discretionary names. In December 2025 the fund converted from a unit investment trust to a conventional open-end fund and cut its fee, so it can now reinvest income and lend securities like its peers. It remains the most liquid Nasdaq-100 vehicle by a wide margin and the reference asset for a large share of the options-income products in this category.

Suits investors who want concentrated large-cap growth exposure and anyone who needs deep options liquidity. Dividends are incidental, so it does not answer an income mandate on its own.

Growth-tilted core, concentrated

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $19,698 in QQQ and $18,316 in IWY.
PeriodQQQIWY
1 month-0.43%-0.57%
3 months3.10%3.03%
Year to date17.09%3.97%
1 year17.78%4.31%
3 years105.61%89.48%
5 years96.98%83.16%
  • QQQ
  • IWY
61139216202120222023202420252026197183

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • QQQ
  • IWY
0%15%29%44%59%Technology58.8%57.1%Information Technology55.8%Communication Services12.1%16.6%Consumer Cyclical10.2%8.1%Communication17.2%Industrials5.5%6.7%Healthcare4.4%4.8%Consumer Discretionary7.8%Consumer Defensive6.1%1.2%Financials5.5%Other2.9%12.2%
QQQ vs IWY holdings overlap
61% overlap by weight, with 44 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsQQQ weightIWY weight
NVDANVIDIA Corp8.17%15.02%
AAPLApple Inc7.82%8.32%
MSFTMicrosoft Corp6.19%6.34%
MUMicron Technology Inc4.41%3.54%
METAMeta Platforms Inc3.28%4.35%
GOOGLAlphabet Inc3.15%6.07%
AMDAdvanced Micro Devices Inc3.79%3.10%
TSLATesla Inc3.02%3.78%
GOOGAlphabet Inc2.94%4.89%
AVGOBroadcom Inc2.49%5.08%
Top 10 holdings
Largest positions by portfolio weight.

QQQ102 holdings total

NameWeight
NVDANVIDIA Corp8.17%
AAPLApple Inc7.82%
MSFTMicrosoft Corp6.19%
AMZNAmazon.com Inc4.42%
MUMicron Technology Inc4.41%
AMDAdvanced Micro Devices Inc3.79%
METAMeta Platforms Inc3.28%
GOOGLAlphabet Inc3.15%
TSLATesla Inc3.02%
GOOGAlphabet Inc2.94%

IWY101 holdings total

NameWeight
NVDANVIDIA15.02%
AAPLAPPLE8.32%
MSFTMICROSOFT6.34%
GOOGLALPHABET CLASS A6.07%
AVGOBROADCOM INC5.08%
GOOGALPHABET CLASS C4.89%
METAMETA PLATFORMS CLASS A4.35%
TSLATESLA INC3.78%
LLYELI LILLY3.55%
MUMICRON TECHNOLOGY3.54%

Quick verdict

QQQ has the edge on these figures, with lower fees, stronger 5-year returns and faster dividend growth. IWY does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is QQQ or IWY better for dividend income?
It depends on your goals. QQQ currently yields 0.53% Trailing Twelve Months (TTM) while IWY yields 0.34%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between QQQ and IWY?
Invesco QQQ Trust, Series 1 (QQQ) is an ETF listed on NASDAQ. iShares Russell Top 200 Growth ETF (IWY) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, QQQ or IWY?
QQQ has the lower expense ratio. QQQ charges 0.18% a year and IWY charges 0.20%, a difference of $2 a year on a $10,000 investment.
Which has performed better, QQQ or IWY?
Over the last 5 years, QQQ has the higher total return with dividends reinvested: QQQ returned 97.0% and IWY returned 83.2%. Past performance does not predict future returns.
Which is riskier, QQQ or IWY?
Measured by the worst peak-to-trough decline over the last five years, QQQ has been riskier: QQQ fell as much as 35.1% and IWY as much as 32.7%. Their betas are 1.23 and 1.17.
How much do QQQ and IWY overlap?
About 61% of the two portfolios overlap by weight, across 44 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do QQQ and IWY pay dividends?
QQQ pays annual and IWY pays quarterly.
How much income does $10,000 in QQQ vs IWY generate?
At current TTM yields, $10,000 in QQQ would generate roughly $4.40 per month ($53 annually). The same amount in IWY would produce about $2.81 per month ($34 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QQQ and IWY?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare QQQ vs IWY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQ and IWY fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.