Dividend comparison

QQQM vs IWY: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Invesco NASDAQ 100 ETF and iShares Russell Top 200 Growth ETF, side by side. Updated October 21, 2026.

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QQQM vs IWY: key differences
The short answer, from the latest data on this page.
  • Fees. QQQM is cheaper at 0.15% a year versus 0.20% for IWY. On $10,000 that is $5 a year less in fees.
  • Income. QQQM pays more income, yielding 0.45% over the last twelve months versus 0.34% for IWY. That is about $11 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, QQQM returned 97.0% versus 83.2% for IWY, with dividends reinvested. $10,000 would have grown to $19,699 in QQQM and $18,316 in IWY.
  • 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 IWY.
  • Diversification. QQQM holds 103 positions and IWY holds 101. The ten largest positions make up 47.2% of QQQM and 60.9% of IWY.
  • Overlap. 61% of the two portfolios overlap by weight, across 44 shared holdings.
  • Dividend growth. QQQM grew its yearly payout 17.8% a year over the last 4 years, versus 3.5% for IWY.
  • Size. QQQM is the larger fund with $108.6 billion in assets, against $16.2 billion for IWY.

Bottom line: QQQM 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.
MetricQQQM
Invesco NASDAQ 100 ETF
IWY
iShares Russell Top 200 Growth ETF
Dividend yield (TTM)0.45%0.34%
Dividend / share (TTM)$1.32$0.97
Payout frequencyQuarterlyQuarterly
Last dividend$0.3127 on Sep 25, 2026$0.2310 on Sep 18, 2026
Ex-dividend dateSep 21, 2026Sep 15, 2026
Dividend growth (CAGR)17.8% over 4 yrs3.5% over 4 yrs
Price$295.59$287.93
Dividend growth streak—1 year
Beta1.231.17
Max drawdown (5Y)-35.0%-32.7%
Market cap$78.87B$16.10B
ExchangeNASDAQAMEX
Expense ratio0.15%0.20%
Assets under management$108.58B$16.23B
Number of holdings103101
Top 10 concentration47.2%60.9%
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

IWY

$2.81/mo

$34 /yr at 0.34% yield

Dividend history
Total dividends paid per share in each calendar year. QQQM pays quarterly; IWY pays quarterly.
YearQQQMIWY
2025$1.2592$1.0051
2024$1.2755$0.9968
2023$1.0965$1.1862
2022$0.9145$1.0596
2021$0.6549$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 QQQM vs IWY 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 $18,316 in IWY.
PeriodQQQMIWY
1 month-0.34%-0.57%
3 months3.24%3.03%
Year to date16.87%3.97%
1 year17.41%4.31%
3 years105.29%89.48%
5 years96.99%83.16%
  • QQQM
  • 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.
  • QQQM
  • 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%
QQQM 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 holdingsQQQM 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.

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%

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

QQQM 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 QQQM or IWY better for dividend income?
It depends on your goals. QQQM currently yields 0.45% 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 QQQM and IWY?
Invesco NASDAQ 100 ETF (QQQM) 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, QQQM or IWY?
QQQM has the lower expense ratio. QQQM charges 0.15% a year and IWY charges 0.20%, a difference of $5 a year on a $10,000 investment.
Which has performed better, QQQM or IWY?
Over the last 5 years, QQQM has the higher total return with dividends reinvested: QQQM returned 97.0% and IWY returned 83.2%. Past performance does not predict future returns.
Which is riskier, QQQM or IWY?
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 IWY as much as 32.7%. Their betas are 1.23 and 1.17.
How much do QQQM 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 QQQM and IWY pay dividends?
Both pay quarterly. The most recent payments were $0.3127 for QQQM and $0.2310 for IWY.
How much income does $10,000 in QQQM vs IWY generate?
At current TTM yields, $10,000 in QQQM would generate roughly $3.71 per month ($45 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 QQQM 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 QQQM vs IWY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQM 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.