NOEQ vs QQQ
Northern Trust US Equity ETF vs Invesco QQQ Trust, Series 1
Which is better, NOEQ or QQQ?
Large Cap Blend against Large Cap Growth.
NOEQ has a lower expense ratio. QQQ is less concentrated, with 46.9% of the fund in its ten largest positions against 59.9%.
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 | NOEQ | QQQ |
|---|---|---|
| Expense Ratio | 0.12%Best | 0.18% |
| AUM | $193M | $437.3B |
| Dividend Yield | 0.41% | 0.43% |
| Holdings | 814 | 208 |
| YTD Return | +15.26%Best | +12.98% |
| 1Y Return | - | +11.59% |
| 3Y Return (annualized) | - | +23.05% |
| 5Y Return (annualized) | - | +12.74% |
| Top 10 Weight | 59.9% | 46.9%Best |
| Fund Family | Northern Trust Asset Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Mar 20, 2026 | Mar 10, 1999 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
NOEQ vs QQQ 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
NOEQ vs QQQ Performance
Northern Trust US Equity ETF (NOEQ) is an ETF from Northern Trust Asset Management and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Year to date, NOEQ is up 15.26% versus a gain of 12.98% for QQQ.
Past performance does not guarantee future results.
Fees and Cost Over Time
NOEQ charges 0.12% per year while QQQ charges 0.18%. On a $10,000 position that is $12 vs $18 annually, a gap of $6 per year that compounds over a long holding period. On income, NOEQ currently yields 0.41% against 0.43% for QQQ.
Holdings Overlap
28.3% of NOEQ's money is in holdings QQQ also owns. 82.2% of QQQ's money is in holdings NOEQ also owns.
Most of QQQ is already inside NOEQ. Owning both mostly buys the same companies twice.
52 positions in common, counted across the 408 positions we hold weights for in NOEQ and 101 in QQQ, against full books of 814 and 208.
What only one of them owns
Our book lists 42 positions for QQQ that do not appear in our book for NOEQ (15.0% of the fund), and 255 for NOEQ that do not appear in QQQ (71.3%).
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 NOEQ | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 3.29% | 8.05% | 4.76% |
| AAPLApple Inc | 3.41% | 7.68% | 4.27% |
| GOOGAlphabet Inc. C | 6.26% | 2.93% | 3.33% |
| MSFTMicrosoft Corp | 2.63% | 6.16% | 3.53% |
| AMZNAmazon.Com Inc | 4.34% | 4.23% | 0.11% |
| MUMicron Technology, Inc. | 0.62% | 4.47% | 3.85% |
| AMDAdvanced Micro Devices Inc | 0.61% | 3.90% | 3.29% |
| METAMeta Platforms Inc | 0.88% | 3.37% | 2.49% |
| TSLATesla Inc | 1.17% | 2.93% | 1.76% |
| AVGOBroadcom Inc | 1.12% | 2.52% | 1.40% |
82.2% of QQQ is already inside NOEQ.
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, NOEQ or QQQ?
NOEQ has an expense ratio of 0.12% while QQQ charges 0.18%. NOEQ is the cheaper option, by $6 a year on a $10,000 investment.
What is the holdings overlap between NOEQ and QQQ?
82.2% of QQQ's money is in holdings NOEQ also owns. 82.2% of QQQ's is in holdings NOEQ also owns. They hold 52 positions in common, counted across the 408 positions we hold weights for in NOEQ and 101 in QQQ.
Which pays a higher dividend, NOEQ or QQQ?
NOEQ yields 0.41% while QQQ yields 0.43%, so QQQ currently pays the higher dividend yield.
Is QQQ better than NOEQ?
NOEQ has a lower expense ratio. QQQ is less concentrated, with 46.9% of the fund in its ten largest positions against 59.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.