Dividend comparison

QQQ vs MGK: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco QQQ Trust, Series 1 and Vanguard Morningstar Mega Cap Growth ETF, side by side. Updated October 21, 2026.

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QQQ vs MGK: key differences
The short answer, from the latest data on this page.
  • Fees. MGK is cheaper at 0.05% a year versus 0.18% for QQQ. On $10,000 that is $13 a year less in fees.
  • Income. QQQ pays more income, yielding 0.53% over the last twelve months versus 0.33% for MGK. That is about $19 more a year on $10,000. QQQ pays annual, MGK pays quarterly.
  • Performance. Over the last 5 years, QQQ returned 97.0% versus 88.0% for MGK, with dividends reinvested. $10,000 would have grown to $19,698 in QQQ and $18,798 in MGK.
  • Risk. Their worst declines over the last 5 years were similar: -35.1% for QQQ and -36.0% for MGK from peak to trough.
  • Diversification. QQQ holds 102 positions and MGK holds 69. The ten largest positions make up 47.2% of QQQ and 64.5% of MGK.
  • Overlap. 64% of the two portfolios overlap by weight, across 36 shared holdings.
  • Dividend growth. QQQ grew its yearly payout 13.3% a year over the last 4 years, versus 7.7% for MGK.
  • Size. QQQ is the larger fund with $487.5 billion in assets, against $35.0 billion for MGK.

Bottom line: QQQ fits better if you care most about stronger 5-year returns and faster dividend growth. MGK fits better if you care most about lower fees.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricQQQ
Invesco QQQ Trust, Series 1
MGK
Vanguard Morningstar Mega Cap Growth ETF
Dividend yield (TTM)0.53%0.33%
Dividend / share (TTM)$3.79$0.30
Payout frequencyAnnualQuarterly
Last dividend$0.7514 on Oct 8, 2026$0.0765 on Sep 30, 2026
Ex-dividend dateDec 21, 2026Sep 28, 2026
Next payment$0.7941 on Dec 28, 2026—
Dividend growth (CAGR)13.3% over 4 yrs7.7% over 4 yrs
Price$717.63$90.83
Beta1.231.27
Max drawdown (5Y)-35.1%-36.0%
Market cap$479.05B$35.00B
ExchangeNASDAQAMEX
Expense ratio0.18%0.05%
Assets under management$487.46B$35.00B
Number of holdings10269
Top 10 concentration47.2%64.5%
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

MGK

$2.78/mo

$33 /yr at 0.33% yield

Dividend history
Total dividends paid per share in each calendar year. QQQ pays annual; MGK pays quarterly.
YearQQQMGK
2025$2.7949$0.2902
2024$3.0623$0.2951
2023$2.3200$0.2603
2022$2.1351$0.2400
2021$1.6968$0.2159
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 MGK 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 $18,798 in MGK.
PeriodQQQMGK
1 month-0.43%0.01%
3 months3.10%4.69%
Year to date17.09%10.34%
1 year17.78%11.89%
3 years105.61%103.52%
5 years96.98%87.98%
  • QQQ
  • MGK
59138217202120222023202420252026197188

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
  • MGK
0%16%31%47%62%Technology58.8%62.4%Communication Services12.1%15.0%Consumer Cyclical10.2%9.6%Healthcare4.4%4.4%Industrials5.5%2.4%Consumer Defensive6.1%0.4%Financial Services0.2%4.1%Utilities1.1%1.0%Basic Materials1.0%0.4%Real Estate0.1%1.2%Other0.6%0.2%
QQQ vs MGK holdings overlap
64% overlap by weight, with 36 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 weightMGK weight
NVDANVIDIA Corp8.17%13.69%
AAPLApple Inc7.82%12.53%
MSFTMicrosoft Corp6.19%9.46%
AMZNAmazon.com Inc4.42%4.23%
METAMeta Platforms Inc3.28%4.96%
AMDAdvanced Micro Devices Inc3.79%3.22%
GOOGLAlphabet Inc3.15%4.98%
TSLATesla Inc3.02%3.14%
GOOGAlphabet Inc2.94%3.95%
AVGOBroadcom Inc2.49%4.30%
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%

MGK69 holdings total

NameWeight
NVDANVIDIA Corp13.69%
AAPLApple Inc12.53%
MSFTMicrosoft Corp9.46%
GOOGLAlphabet Inc4.98%
METAMeta Platforms Inc4.96%
AVGOBroadcom Inc4.30%
AMZNAmazon.com Inc4.23%
GOOGAlphabet Inc3.95%
AMDAdvanced Micro Devices Inc3.22%
TSLATesla Inc3.14%

Quick verdict

QQQ fits better if you care most about stronger 5-year returns and faster dividend growth. MGK fits better if you care most about lower fees. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is QQQ or MGK better for dividend income?
It depends on your goals. QQQ currently yields 0.53% Trailing Twelve Months (TTM) while MGK yields 0.33%. 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 MGK?
Invesco QQQ Trust, Series 1 (QQQ) is an ETF listed on NASDAQ. Vanguard Morningstar Mega Cap Growth ETF (MGK) 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 MGK?
MGK has the lower expense ratio. QQQ charges 0.18% a year and MGK charges 0.05%, a difference of $13 a year on a $10,000 investment.
Which has performed better, QQQ or MGK?
Over the last 5 years, QQQ has the higher total return with dividends reinvested: QQQ returned 97.0% and MGK returned 88.0%. Past performance does not predict future returns.
Which is riskier, QQQ or MGK?
Measured by the worst peak-to-trough decline over the last five years, MGK has been riskier: QQQ fell as much as 35.1% and MGK as much as 36.0%. Their betas are 1.23 and 1.27.
How much do QQQ and MGK overlap?
About 64% of the two portfolios overlap by weight, across 36 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do QQQ and MGK pay dividends?
QQQ pays annual and MGK pays quarterly.
How much income does $10,000 in QQQ vs MGK generate?
At current TTM yields, $10,000 in QQQ would generate roughly $4.40 per month ($53 annually). The same amount in MGK would produce about $2.78 per month ($33 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QQQ and MGK?
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 MGK with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQ and MGK 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.