HEQQ vs QTOP
JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF vs iShares Nasdaq Top 30 Stocks ETF
Which is better, HEQQ or QTOP?
QTOP has been ahead.
QTOP has a lower expense ratio. QTOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. HEQQ is less concentrated, with 53.6% of the fund in its ten largest positions against 59.3%.
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 | QTOP |
|---|---|---|
| Expense Ratio | 0.50% | 0.20%Best |
| AUM | $31M | $362M |
| Dividend Yield | 0.16% | 0.32% |
| Holdings | 108 | 35 |
| YTD Return | +6.38% | +20.85%Best |
| 1Y Return | +8.87% | +24.48%Best |
| Volatility (annualized) | 8.3%Best | 20.7% |
| Max Drawdown | -7.6%Best | -13.3% |
| $10,000 over 1.5 years | $12,392 | $15,675Best |
| Top 10 Weight | 53.6%Best | 59.3% |
| Fund Family | J.P. Morgan Asset Management | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Mar 26, 2025 | Oct 24, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
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 QTOP 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 QTOP Performance
JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ) is an ETF from J.P. Morgan Asset Management and iShares Nasdaq Top 30 Stocks ETF (QTOP) is an ETF from iShares by BlackRock (US). Over the past year HEQQ returned +8.87% while QTOP returned +24.48%. Year to date, HEQQ is up 6.38% versus a gain of 20.85% for QTOP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QTOP has been the more volatile fund, with annualized monthly volatility of 20.7% 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 -13.3% for QTOP. 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 QTOP charges 0.20%. On a $10,000 position that is $50 vs $20 annually, a gap of $30 per year that compounds over a long holding period. On income, HEQQ currently yields 0.16% against 0.32% for QTOP.
Holdings Overlap
69.8% of HEQQ's money is in holdings QTOP also owns. 79.0% of QTOP's money is in holdings HEQQ also owns.
Most of QTOP is already inside HEQQ. Owning both mostly buys the same companies twice.
19 positions in common, counted across the 98 positions we hold weights for in HEQQ and 32 in QTOP, against full books of 108 and 35.
What only one of them owns
Our book lists 12 positions for QTOP that do not appear in our book for HEQQ (19.8% of the fund), and 74 for HEQQ that do not appear in QTOP (27.2%).
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 QTOP | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.80% | 10.82% | 2.02% |
| AAPLApple, Inc | 8.10% | 9.38% | 1.28% |
| MSFTMicrosoft Corp | 6.80% | 7.41% | 0.61% |
| MUMicron Technology, Inc. | 5.35% | 6.65% | 1.30% |
| GOOGAlphabet Inc. C | 6.14% | 3.60% | 2.54% |
| AMDAdvanced Micro Devices Inc | 4.02% | 5.53% | 1.51% |
| AMZNAmazon.Com Inc | 4.79% | 4.06% | 0.73% |
| METAMeta Platforms Inc | 3.47% | 4.30% | 0.83% |
| TSLATesla Inc | 2.51% | 3.71% | 1.20% |
| WMTWalmart, Inc. | 3.40% | 2.79% | 0.61% |
79.0% of QTOP 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 QTOP?
HEQQ has an expense ratio of 0.50% while QTOP charges 0.20%. QTOP is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, HEQQ or QTOP?
Over the past year HEQQ returned +8.87% vs +24.48% for QTOP, so QTOP leads on 1-year performance. Over the longest common window we track (2 years), HEQQ annualized +15.37% vs +34.94% for QTOP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HEQQ or QTOP?
QTOP has been the more volatile fund at 20.7% annualized versus 8.3% for HEQQ. Worst drawdown: HEQQ -7.6% vs QTOP -13.3%.
Should I hold both HEQQ and QTOP?
HEQQ and QTOP 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 QTOP?
79.0% of QTOP's money is in holdings HEQQ also owns. 79.0% of QTOP's is in holdings HEQQ also owns. They hold 19 positions in common, counted across the 98 positions we hold weights for in HEQQ and 32 in QTOP.
Which pays a higher dividend, HEQQ or QTOP?
HEQQ yields 0.16% while QTOP yields 0.32%, so QTOP currently pays the higher dividend yield.
Is QTOP better than HEQQ?
QTOP has a lower expense ratio. QTOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. HEQQ is less concentrated, with 53.6% of the fund in its ten largest positions against 59.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.