Dividend comparison

QQQ vs ONEQ: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco QQQ Trust, Series 1 and Fidelity Nasdaq Composite Index ETF, side by side. Updated October 21, 2026.

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QQQ vs ONEQ: key differences
The short answer, from the latest data on this page.
  • Fees. QQQ is cheaper at 0.18% a year versus 0.21% for ONEQ. On $10,000 that is $3 a year less in fees.
  • Income. Their trailing yields are almost the same: 0.53% for QQQ and 0.49% for ONEQ. QQQ pays annual, ONEQ pays quarterly.
  • Performance. Over the last 5 years, QQQ returned 97.0% versus 83.3% for ONEQ, with dividends reinvested. $10,000 would have grown to $19,698 in QQQ and $18,335 in ONEQ.
  • Risk. Their worst declines over the last 5 years were similar: -35.1% for QQQ and -35.2% for ONEQ from peak to trough.
  • Diversification. ONEQ holds 1,046 positions and QQQ holds 102. The ten largest positions make up 47.2% of QQQ and 57.3% of ONEQ.
  • Overlap. At least 70% of the two portfolios overlap by weight, across 84 shared holdings. Owning both adds little diversification.
  • Dividend growth. QQQ grew its yearly payout 13.3% a year over the last 4 years, versus 10.6% for ONEQ.
  • Size. QQQ is the larger fund with $487.5 billion in assets, against $10.9 billion for ONEQ.

Bottom line: QQQ fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. ONEQ fits better if you care most about broader diversification. With 70% overlap, most investors would hold one or the other rather than both.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricQQQ
Invesco QQQ Trust, Series 1
ONEQ
Fidelity Nasdaq Composite Index ETF
Dividend yield (TTM)0.53%0.49%
Dividend / share (TTM)$3.79$0.51
Payout frequencyAnnualQuarterly
Last dividend$0.7514 on Oct 8, 2026$0.1120 on Sep 22, 2026
Ex-dividend dateDec 21, 2026Sep 18, 2026
Next payment$0.7941 on Dec 28, 2026—
Dividend growth (CAGR)13.3% over 4 yrs10.6% over 4 yrs
Price$717.63$104.14
Beta1.231.22
Max drawdown (5Y)-35.1%-35.2%
Market cap$479.05B$10.94B
ExchangeNASDAQNASDAQ
Expense ratio0.18%0.21%
Assets under management$487.46B$10.94B
Number of holdings1021046
Top 10 concentration47.2%57.3%
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

ONEQ

$4.10/mo

$49 /yr at 0.49% yield

Dividend history
Total dividends paid per share in each calendar year. QQQ pays annual; ONEQ pays quarterly.
YearQQQONEQ
2025$2.7949$0.4930
2024$3.0623$0.5140
2023$2.3200$0.4020
2022$2.1351$0.3990
2021$1.6968$0.3290
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.

Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.

What QQQ vs ONEQ 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 $18,335 in ONEQ.
PeriodQQQONEQ
1 month-0.43%-0.27%
3 months3.10%3.68%
Year to date17.09%14.36%
1 year17.78%15.87%
3 years105.61%107.12%
5 years96.98%83.35%
  • QQQ
  • ONEQ
60138217202120222023202420252026197183

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
  • ONEQ
0%15%29%44%59%Technology58.8%55.4%Information Technology55.0%Communication Services12.1%16.4%Consumer Cyclical10.2%11.3%Consumer Discretionary11.3%Consumer Defensive6.1%3.9%Healthcare4.4%5.3%Industrials5.5%3.0%Health Care5.3%Consumer Staples3.9%Other2.9%8.8%
QQQ vs ONEQ holdings overlap
At least 70% overlap by weight, with 84 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 weightONEQ weight
NVDANVIDIA Corp8.17%11.22%
AAPLApple Inc7.82%10.89%
MSFTMicrosoft Corp6.19%8.54%
AMZNAmazon.com Inc4.42%5.86%
METAMeta Platforms Inc3.28%3.40%
GOOGLAlphabet Inc3.15%4.34%
TSLATesla Inc3.02%3.04%
GOOGAlphabet Inc2.94%4.05%
SPCXSpace Exploration Technologies Corp2.74%2.60%
AVGOBroadcom Inc2.49%3.40%
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%

ONEQ1046 holdings total

NameWeight
NVDANVIDIA CORP11.22%
AAPLAPPLE INC10.89%
MSFTMICROSOFT CORP8.54%
AMZNAMAZON.COM INC5.86%
GOOGLALPHABET INC CL A4.34%
GOOGALPHABET INC CL C4.05%
METAMETA PLATFORMS INC CL A3.40%
AVGOBROADCOM INC3.40%
TSLATESLA INC3.04%
SPCXSPACE EXPLORATION TECH CORP A2.60%

Quick verdict

QQQ fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. ONEQ fits better if you care most about broader diversification. With 70% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is QQQ or ONEQ better for dividend income?
It depends on your goals. QQQ currently yields 0.53% Trailing Twelve Months (TTM) while ONEQ yields 0.49%. 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 ONEQ?
Invesco QQQ Trust, Series 1 (QQQ) is an ETF listed on NASDAQ. Fidelity Nasdaq Composite Index ETF (ONEQ) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, QQQ or ONEQ?
QQQ has the lower expense ratio. QQQ charges 0.18% a year and ONEQ charges 0.21%, a difference of $3 a year on a $10,000 investment.
Which has performed better, QQQ or ONEQ?
Over the last 5 years, QQQ has the higher total return with dividends reinvested: QQQ returned 97.0% and ONEQ returned 83.3%. Past performance does not predict future returns.
Which is riskier, QQQ or ONEQ?
Measured by the worst peak-to-trough decline over the last five years, ONEQ has been riskier: QQQ fell as much as 35.1% and ONEQ as much as 35.2%. Their betas are 1.23 and 1.22.
How much do QQQ and ONEQ overlap?
At least 70% of the two portfolios overlap by weight, across 84 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both adds little diversification.
How often do QQQ and ONEQ pay dividends?
QQQ pays annual and ONEQ pays quarterly.
How much income does $10,000 in QQQ vs ONEQ generate?
At current TTM yields, $10,000 in QQQ would generate roughly $4.40 per month ($53 annually). The same amount in ONEQ would produce about $4.10 per month ($49 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QQQ and ONEQ?
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 ONEQ with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQ and ONEQ 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.