HEQQ vs QQQM
JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF vs Invesco NASDAQ 100 ETF
Which is better, HEQQ or QQQM?
QQQM has been ahead.
QQQM has a lower expense ratio. QQQM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. QQQM is less concentrated, with 46.8% of the fund in its ten largest positions against 53.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HEQQ | QQQM |
|---|---|---|
| Expense Ratio | 0.50% | 0.15%Best |
| AUM | $31M | $111.6B |
| Dividend Yield | 0.16% | 0.43% |
| Holdings | 108 | 327 |
| YTD Return | +6.38% | +19.32%Best |
| 1Y Return | +8.87% | +22.49%Best |
| 3Y Return (annualized) | - | +26.25% |
| 5Y Return (annualized) | - | +15.50% |
| Volatility (annualized) | 8.3%Best | 18.8% |
| Max Drawdown | -7.6%Best | -13.5% |
| $10,000 over 1.5 years | $12,392 | $15,049Best |
| Top 10 Weight | 53.6% | 46.8%Best |
| Fund Family | J.P. Morgan Asset Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Mar 26, 2025 | Oct 13, 2020 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Oct 14, 2026 (1.5 years).
HEQQ vs QQQM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.5 years both funds cover.
HEQQ vs QQQM Performance
JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) is an ETF from J.P. Morgan Asset Management and Invesco NASDAQ 100 ETF (QQQM) is an ETF from Invesco (US). Over the past year HEQQ returned +8.87% while QQQM returned +22.49%. Year to date, HEQQ is up 6.38% versus a gain of 19.32% for QQQM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQM has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 8.3% for HEQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -7.6% for HEQQ and -13.5% for QQQM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HEQQ charges 0.50% per year while QQQM charges 0.15%. On a $10,000 position that is $50 vs $15 annually, a gap of $35 per year that compounds over a long holding period. On income, HEQQ currently yields 0.16% against 0.43% for QQQM.
Holdings Overlap
82.2% of HEQQ's money is in holdings QQQM also owns. 69.1% of QQQM's money is in holdings HEQQ also owns.
Most of HEQQ is already inside QQQM. Owning both mostly buys the same companies twice.
36 positions in common, counted across the 98 positions we hold weights for in HEQQ and 102 in QQQM, against full books of 108 and 327.
What only one of them owns
Our book lists 63 positions for QQQM that do not appear in our book for HEQQ (30.4% of the fund), and 59 for HEQQ that do not appear in QQQM (16.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in HEQQ | Weight in QQQM | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.80% | 8.44% | 0.36% |
| AAPLApple Inc | 8.10% | 7.29% | 0.81% |
| MSFTMicrosoft Corp_None_0 | 6.80% | 5.75% | 1.05% |
| MUMicron Technology, Inc. | 5.35% | 5.02% | 0.33% |
| GOOGAlphabet, Inc.- Cl C | 6.14% | 2.82% | 3.32% |
| AMZNAmazon.Com Inc | 4.79% | 4.06% | 0.73% |
| AMDAdvanced Micro Devices Inc. | 4.02% | 4.28% | 0.26% |
| METAMeta Platforms, Inc. | 3.47% | 3.24% | 0.23% |
| WMTWalmart, Inc. | 3.40% | 2.10% | 1.30% |
| TSLATesla Mtrs Inc | 2.51% | 2.91% | 0.40% |
82.2% of HEQQ is already inside QQQM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HEQQ or QQQM?
HEQQ has an expense ratio of 0.50% while QQQM charges 0.15%. QQQM is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, HEQQ or QQQM?
Over the past year HEQQ returned +8.87% vs +22.49% for QQQM, so QQQM leads on 1-year performance. Over the longest common window we track (2 years), HEQQ annualized +15.37% vs +31.32% for QQQM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HEQQ or QQQM?
QQQM has been the more volatile fund at 18.8% annualized versus 8.3% for HEQQ. Worst drawdown: HEQQ -7.6% vs QQQM -13.5%.
Should I hold both HEQQ and QQQM?
HEQQ and QQQM have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between HEQQ and QQQM?
82.2% of HEQQ's money is in holdings QQQM also owns. 69.1% of QQQM's is in holdings HEQQ also owns. They hold 36 positions in common, counted across the 98 positions we hold weights for in HEQQ and 102 in QQQM.
Which pays a higher dividend, HEQQ or QQQM?
HEQQ yields 0.16% while QQQM yields 0.43%, so QQQM currently pays the higher dividend yield.
Is QQQM better than HEQQ?
QQQM has a lower expense ratio. QQQM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. QQQM is less concentrated, with 46.8% of the fund in its ten largest positions against 53.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.