Dividend comparison
QQQ vs QQQM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco QQQ Trust, Series 1 and Invesco NASDAQ 100 ETF, side by side. Updated October 24, 2026.
- Fees. QQQM is cheaper at 0.15% a year versus 0.18% for QQQ. On $10,000 that is $3 a year less in fees.
- Income. Their trailing yields are almost the same: 0.54% for QQQ and 0.45% for QQQM. QQQ pays annual, QQQM pays quarterly.
- Performance. Over the last 5 years, QQQ returned 93.8% versus 93.8% for QQQM, with dividends reinvested. $10,000 would have grown to $19,380 in QQQ and $19,376 in QQQM.
- Risk. Their worst declines over the last 5 years were similar: -35.1% for QQQ and -35.0% for QQQM from peak to trough.
- Diversification. QQQM holds 103 positions and QQQ holds 102. The ten largest positions make up 47.1% of QQQ and 47.1% of QQQM.
- Overlap. 100% of the two portfolios overlap by weight, across 100 shared holdings. Owning both adds little diversification.
- Dividend growth. QQQM grew its yearly payout 17.8% a year over the last 4 years, versus 13.3% for QQQ.
- Size. QQQ is the larger fund with $489.6 billion in assets, against $109.9 billion for QQQM.
Bottom line: QQQM has the edge on these figures, with lower fees and faster dividend growth. QQQ does not lead on any of the measures compared here. With 100% overlap, most investors would hold one or the other rather than both.
| Metric | QQQ Invesco QQQ Trust, Series 1 | QQQM Invesco NASDAQ 100 ETF |
|---|---|---|
| Dividend yield (TTM) | 0.54% | 0.45% |
| Dividend / share (TTM) | $3.79 | $1.32 |
| Payout frequency | Annual | Quarterly |
| Last dividend | $0.7514 on Oct 8, 2026 | $0.3127 on Sep 25, 2026 |
| Ex-dividend date | Dec 21, 2026 | Sep 21, 2026 |
| Next payment | $0.7941 on Dec 28, 2026 | — |
| Dividend growth (CAGR) | 13.3% over 4 yrs | 17.8% over 4 yrs |
| Price | $704.40 | $290.06 |
| Beta | 1.23 | 1.23 |
| Max drawdown (5Y) | -35.1% | -35.0% |
| Market cap | $479.05B | $78.87B |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.18% | 0.15% |
| Assets under management | $489.57B | $109.95B |
| Number of holdings | 102 | 103 |
| Top 10 concentration | 47.1% | 47.1% |
QQQ
$4.48/mo
$54 /yr at 0.54% yield
QQQM
$3.78/mo
$45 /yr at 0.45% yield
| Year | QQQ | QQQM |
|---|---|---|
| 2025 | $2.7949 | $1.2592 |
| 2024 | $3.0623 | $1.2755 |
| 2023 | $2.3200 | $1.0965 |
| 2022 | $2.1351 | $0.9145 |
| 2021 | $1.6968 | $0.6549 |
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 QQQM actually do
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
Launched in 2020 as an open-end fund, it holds identical constituents at identical weights to its older sibling and charges a lower expense ratio. The gap in fee is small in any one year but compounds across a long holding period, which is the entire reason the fund exists. What it gives up is trading depth: spreads are wider and the options market on it is thin next to QQQ's.
Suits a long-term holder accumulating Nasdaq-100 exposure inside a retirement or taxable account. Not the right choice for active traders or anyone writing options against the position.
Growth-tilted core, concentrated
| Period | QQQ | QQQM |
|---|---|---|
| 1 month | -4.97% | -4.94% |
| 3 months | 1.80% | 1.78% |
| Year to date | 14.93% | 14.68% |
| 1 year | 15.79% | 15.38% |
| 3 years | 101.21% | 100.84% |
| 5 years | 93.80% | 93.76% |
- QQQ
- QQQM
Both series indexed to 100 on 2021-10-23 using the adjusted closing price series. Past performance does not guarantee future results.
- QQQ
- QQQM
| Largest shared holdings | QQQ weight | QQQM weight |
|---|---|---|
| NVDANVIDIA Corp | 8.27% | 8.27% |
| AAPLApple Inc | 7.76% | 7.76% |
| MSFTMicrosoft Corp | 6.12% | 6.12% |
| MUMicron Technology Inc | 4.41% | 4.41% |
| AMZNAmazon.com Inc | 4.38% | 4.38% |
| AMDAdvanced Micro Devices Inc | 3.85% | 3.85% |
| METAMeta Platforms Inc | 3.21% | 3.21% |
| TSLATesla Inc | 3.14% | 3.14% |
| GOOGLAlphabet Inc | 3.04% | 3.04% |
| SPCXSpace Exploration Technologies Corp | 2.92% | 2.92% |
QQQ102 holdings total
Quick verdict
QQQM has the edge on these figures, with lower fees and faster dividend growth. QQQ does not lead on any of the measures compared here. With 100% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.