HEQQ vs QQQX
JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF vs Nuveen NASDAQ 100 Dynamic Overwrite Fund
Which is better, HEQQ or QQQX?
QQQX has been ahead.
HEQQ has a lower expense ratio. QQQX led over 1Y and the full window. HEQQ is less concentrated, with 53.6% of the fund in its ten largest positions against 55.2%.
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 | QQQX |
|---|---|---|
| Expense Ratio | 0.50%Best | 0.92% |
| AUM | $31M | $1.6B |
| Dividend Yield | 0.16% | 8.33% |
| Holdings | 108 | 286 |
| YTD Return | +6.38% | +15.65%Best |
| 1Y Return | +8.87% | +22.71%Best |
| 3Y Return (annualized) | - | +20.79% |
| 5Y Return (annualized) | - | +9.63% |
| Volatility (annualized) | 8.3%Best | 13.5% |
| Max Drawdown | -7.6%Best | -13.2% |
| $10,000 over 1.5 years | $12,392 | $14,349Best |
| Top 10 Weight | 53.6%Best | 55.2% |
| Fund Family | J.P. Morgan Asset Management | Nuveen |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Mar 26, 2025 | Jan 30, 2007 |
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 QQQX 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 QQQX Performance
JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) is an ETF from J.P. Morgan Asset Management and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) is an ETF from Nuveen. Over the past year HEQQ returned +8.87% while QQQX returned +22.71%. Year to date, HEQQ is up 6.38% versus a gain of 15.65% for QQQX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQX has been the more volatile fund, with annualized monthly volatility of 13.5% 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 -13.2% for QQQX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HEQQ charges 0.50% per year while QQQX charges 0.92%. On a $10,000 position that is $50 vs $92 annually, a gap of $42 per year that compounds over a long holding period. On income, HEQQ currently yields 0.16% against 8.33% for QQQX.
Holdings Overlap
62.6% of HEQQ's money is in holdings QQQX also owns. 65.7% of QQQX's money is in holdings HEQQ also owns.
The two portfolios partly overlap.
The two holdings books were reported 228 days apart, HEQQ as of Sep 15, 2026 and QQQX as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
40 positions in common, counted across the 98 positions we hold weights for in HEQQ and 261 in QQQX, against full books of 108 and 286.
What only one of them owns
Our book lists 193 positions for QQQX that do not appear in our book for HEQQ (28.8% of the fund), and 53 for HEQQ that do not appear in QQQX (34.5%).
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 QQQX | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.80% | 10.24% | 1.44% |
| AAPLApple Inc | 8.10% | 8.83% | 0.73% |
| MSFTMicrosoft Corp_None_0 | 6.80% | 7.86% | 1.06% |
| GOOGAlphabet, Inc.- Cl C | 6.14% | 5.23% | 0.91% |
| AMZNAmazon.Com Inc | 4.79% | 5.03% | 0.24% |
| METAMeta Platforms, Inc. | 3.47% | 3.71% | 0.24% |
| AVGOBroadcom Inc | 2.70% | 4.31% | 1.61% |
| AMDAdvanced Micro Devices Inc. | 4.02% | 2.49% | 1.53% |
| TSLATesla Mtrs Inc | 2.51% | 3.95% | 1.44% |
| WMTWalmart, Inc. | 3.40% | 1.41% | 1.99% |
65.7% of QQQX is already inside HEQQ.
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 QQQX?
HEQQ has an expense ratio of 0.50% while QQQX charges 0.92%. HEQQ is the cheaper option, by $42 a year on a $10,000 investment.
Which performed better, HEQQ or QQQX?
Over the past year HEQQ returned +8.87% vs +22.71% for QQQX, so QQQX leads on 1-year performance. Over the longest common window we track (2 years), HEQQ annualized +15.37% vs +27.22% for QQQX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HEQQ or QQQX?
QQQX has been the more volatile fund at 13.5% annualized versus 8.3% for HEQQ. Worst drawdown: HEQQ -7.6% vs QQQX -13.2%.
Should I hold both HEQQ and QQQX?
HEQQ and QQQX have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between HEQQ and QQQX?
65.7% of QQQX's money is in holdings HEQQ also owns. 65.7% of QQQX's is in holdings HEQQ also owns. They hold 40 positions in common, counted across the 98 positions we hold weights for in HEQQ and 261 in QQQX.
Which pays a higher dividend, HEQQ or QQQX?
HEQQ yields 0.16% while QQQX yields 8.33%, so QQQX currently pays the higher dividend yield.
Is QQQX better than HEQQ?
HEQQ has a lower expense ratio. QQQX led over 1Y and the full window. HEQQ is less concentrated, with 53.6% of the fund in its ten largest positions against 55.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.