QQQM vs QQQX
Invesco NASDAQ 100 ETF vs Nuveen NASDAQ 100 Dynamic Overwrite Fund
Which is better, QQQM or QQQX?
Each has led over a different period.
QQQM has a lower expense ratio. QQQM led over 3Y, 5Y and the full window, QQQX over 1Y. QQQM is less concentrated, with 46.8% 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 | QQQM | QQQX |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.92% |
| AUM | $111.6B | $1.6B |
| Dividend Yield | 0.43% | 8.33% |
| Holdings | 327 | 286 |
| YTD Return | +19.32%Best | +15.65% |
| 1Y Return | +22.49% | +22.71%Best |
| 3Y Return (annualized) | +26.25%Best | +20.79% |
| 5Y Return (annualized) | +15.50%Best | +9.63% |
| Volatility (annualized) | 20.0% | 18.9%Best |
| Max Drawdown | -35.0% | -29.3%Best |
| $10,000 over 5 years | $20,555Best | $15,836 |
| Top 10 Weight | 46.8%Best | 55.2% |
| Fund Family | Invesco (US) | Nuveen |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Oct 13, 2020 | Jan 30, 2007 |
Volatility and max drawdown are measured over the window both funds cover: Oct 13, 2020 to Oct 14, 2026 (6 years).
QQQM 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 6 years both funds cover.
QQQM vs QQQX Performance
Invesco NASDAQ 100 ETF (QQQM) is an ETF from Invesco (US) and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) is an ETF from Nuveen. Over the past year QQQM returned +22.49% while QQQX returned +22.71%. Year to date, QQQM is up 19.32% versus a gain of 15.65% for QQQX.
Over three years, QQQM compounded at +26.25% per year against +20.79% for QQQX; over five years the annualized figures are +15.50% and +9.63% respectively. Across the full 6-year window we track, QQQM has the edge at +17.02% annualized vs +11.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQM has been the more volatile fund, with annualized monthly volatility of 20.0% compared with 18.9% for QQQX. 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 -35.0% for QQQM and -29.3% 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQM charges 0.15% per year while QQQX charges 0.92%. On a $10,000 position that is $15 vs $92 annually, a gap of $77 per year that compounds over a long holding period. On income, QQQM currently yields 0.43% against 8.33% for QQQX.
Holdings Overlap
55.5% of QQQM's money is in holdings QQQX also owns. 75.4% of QQQX's money is in holdings QQQM also owns.
Most of QQQX is already inside QQQM. Owning both mostly buys the same companies twice.
The two holdings books were reported 247 days apart, QQQM as of Oct 4, 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.
28 positions in common, counted across the 102 positions we hold weights for in QQQM and 261 in QQQX, against full books of 327 and 286.
What only one of them owns
Our book lists 205 positions for QQQX that do not appear in our book for QQQM (19.1% of the fund), and 69 for QQQM that do not appear in QQQX (42.5%).
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 QQQM | Weight in QQQX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 10.24% | 1.80% |
| AAPLApple, Inc | 7.29% | 8.83% | 1.54% |
| MSFTMicrosoft Corp | 5.75% | 7.86% | 2.11% |
| AMZNAmazon.Com Inc | 4.06% | 5.03% | 0.97% |
| GOOGAlphabet Inc. C | 2.82% | 5.23% | 2.41% |
| METAMeta Platforms Inc | 3.24% | 3.71% | 0.47% |
| TSLATesla Inc | 2.91% | 3.95% | 1.04% |
| AVGOBroadcom Inc | 2.53% | 4.31% | 1.78% |
| AMDAdvanced Micro Devices Inc | 4.28% | 2.49% | 1.79% |
| AMATApplied Materials, Inc. | 1.77% | 3.51% | 1.74% |
75.4% of QQQX 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, QQQM or QQQX?
QQQM has an expense ratio of 0.15% while QQQX charges 0.92%. QQQM is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, QQQM or QQQX?
Over the past year QQQM returned +22.49% vs +22.71% for QQQX, so QQQX leads on 1-year performance. Over the longest common window we track (6 years), QQQM annualized +17.02% vs +11.56% for QQQX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQM or QQQX?
QQQM has been the more volatile fund at 20.0% annualized versus 18.9% for QQQX. Worst drawdown: QQQM -35.0% vs QQQX -29.3%.
Should I hold both QQQM and QQQX?
QQQM and QQQX have a monthly-return correlation of 0.89, 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 QQQM and QQQX?
75.4% of QQQX's money is in holdings QQQM also owns. 75.4% of QQQX's is in holdings QQQM also owns. They hold 28 positions in common, counted across the 102 positions we hold weights for in QQQM and 261 in QQQX.
Which pays a higher dividend, QQQM or QQQX?
QQQM yields 0.43% while QQQX yields 8.33%, so QQQX currently pays the higher dividend yield.
Is QQQX better than QQQM?
QQQM has a lower expense ratio. QQQM led over 3Y, 5Y and the full window, QQQX over 1Y. QQQM is less concentrated, with 46.8% 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.