Dividend comparison

QQQM vs FSPGX: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco NASDAQ 100 ETF and Fidelity Large Cap Growth Idx, side by side. Updated October 21, 2026.

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QQQM vs FSPGX: key differences
The short answer, from the latest data on this page.
  • Income. Their trailing yields are almost the same: 0.45% for QQQM and 0.37% for FSPGX. QQQM pays quarterly, FSPGX pays semi-annual.
  • Performance. Over the last 5 years, QQQM returned 97.0% versus 74.7% for FSPGX, with dividends reinvested. $10,000 would have grown to $19,699 in QQQM and $17,472 in FSPGX.
  • Risk. QQQM has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.0%, against -32.7% for FSPGX.
  • Diversification. QQQM holds 103 positions and FSPGX holds 100. The ten largest positions make up 47.2% of QQQM and 56.8% of FSPGX.
  • Overlap. 58% of the two portfolios overlap by weight, across 49 shared holdings.
  • Dividend growth. QQQM grew its yearly payout 17.8% a year over the last 4 years, versus -29.9% for FSPGX.

Bottom line: QQQM has the edge on these figures, with stronger 5-year returns and faster dividend growth. FSPGX 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.
MetricQQQM
Invesco NASDAQ 100 ETF
FSPGX
Fidelity Large Cap Growth Idx
Dividend yield (TTM)0.45%0.37%
Dividend / share (TTM)$1.32$0.18
Payout frequencyQuarterlySemi-annual
Last dividend$0.3127 on Sep 25, 2026$0.0210 on Jun 29, 2026
Ex-dividend dateSep 21, 2026Jun 26, 2026
Dividend growth (CAGR)17.8% over 4 yrs-29.9% over 4 yrs
Price$295.59$48.03
Dividend growth streak—2 years
Beta1.231.16
Max drawdown (5Y)-35.0%-32.7%
Market cap$78.87B$44.27B
ExchangeNASDAQNASDAQ
Expense ratio0.15%—
Assets under management$108.58B—
Number of holdings103100
Top 10 concentration47.2%56.8%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

QQQM

$3.71/mo

$45 /yr at 0.45% yield

FSPGX

$3.12/mo

$37 /yr at 0.37% yield

Dividend history
Total dividends paid per share in each calendar year. QQQM pays quarterly; FSPGX pays semi-annual.
YearQQQMFSPGX
2025$1.2592$0.1590
2024$1.2755$0.1450
2023$1.0965$0.2160
2022$0.9145$0.1790
2021$0.6549$0.6570
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 QQQM vs FSPGX actually do

QQQM
Invesco's cheaper Nasdaq-100 fund, holding the same index as QQQ and aimed at buy-and-hold investors.

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

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $19,699 in QQQM and $17,472 in FSPGX.
PeriodQQQMFSPGX
1 month-0.34%-0.74%
3 months3.24%2.58%
Year to date16.87%3.80%
1 year17.41%3.71%
3 years105.29%87.76%
5 years96.99%74.72%
  • QQQM
  • FSPGX
61139216202120222023202420252026197175

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.
  • QQQM
  • FSPGX
0%15%29%44%59%Technology58.8%Communication Services12.1%Consumer Cyclical10.2%Consumer Defensive6.1%Industrials5.5%Healthcare4.4%Utilities1.1%Basic Materials1.0%Energy0.5%Financial Services0.3%Other0.1%
QQQM vs FSPGX holdings overlap
58% overlap by weight, with 49 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 holdingsQQQM weightFSPGX weight
NVDANVIDIA Corp8.17%15.45%
AAPLApple Inc7.82%7.45%
MSFTMicrosoft Corp6.19%5.65%
MUMicron Technology Inc4.41%3.24%
GOOGLAlphabet Inc3.15%5.93%
METAMeta Platforms Inc3.28%3.09%
TSLATesla Inc3.02%3.23%
GOOGAlphabet Inc2.94%4.79%
AVGOBroadcom Inc2.49%5.17%
AMDAdvanced Micro Devices Inc3.79%2.30%
Top 10 holdings
Largest positions by portfolio weight.

QQQM103 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%

FSPGX100 holdings total

NameWeight
NVDANVIDIA Corp15.45%
AAPLApple Inc7.45%
GOOGLAlphabet Inc Class A5.93%
MSFTMicrosoft Corp5.65%
AVGOBroadcom Inc5.17%
GOOGAlphabet Inc Class C4.79%
MUMicron Technology Inc3.24%
TSLATesla Inc3.23%
METAMeta Platforms Inc Class A3.09%
LLYEli Lilly & Co2.77%

Quick verdict

QQQM has the edge on these figures, with stronger 5-year returns and faster dividend growth. FSPGX 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 QQQM or FSPGX better for dividend income?
It depends on your goals. QQQM currently yields 0.45% Trailing Twelve Months (TTM) while FSPGX yields 0.37%. 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 QQQM and FSPGX?
Invesco NASDAQ 100 ETF (QQQM) is an ETF listed on NASDAQ. Fidelity Large Cap Growth Idx (FSPGX) 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 has performed better, QQQM or FSPGX?
Over the last 5 years, QQQM has the higher total return with dividends reinvested: QQQM returned 97.0% and FSPGX returned 74.7%. Past performance does not predict future returns.
Which is riskier, QQQM or FSPGX?
Measured by the worst peak-to-trough decline over the last five years, QQQM has been riskier: QQQM fell as much as 35.0% and FSPGX as much as 32.7%. Their betas are 1.23 and 1.16.
How much do QQQM and FSPGX overlap?
About 58% of the two portfolios overlap by weight, across 49 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do QQQM and FSPGX pay dividends?
QQQM pays quarterly and FSPGX pays semi-annual.
How much income does $10,000 in QQQM vs FSPGX generate?
At current TTM yields, $10,000 in QQQM would generate roughly $3.71 per month ($45 annually). The same amount in FSPGX would produce about $3.12 per month ($37 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QQQM and FSPGX?
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 QQQM vs FSPGX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQM and FSPGX 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.