QQQ vs QQQX
Invesco QQQ Trust, Series 1 vs Nuveen NASDAQ 100 Dynamic Overwrite Fund
Which is better, QQQ or QQQX?
QQQ has been ahead.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.5% 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 | QQQ | QQQX |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.92% |
| AUM | $483.5B | $173M |
| Dividend Yield | 0.44% | 7.75% |
| Holdings | 107 | 284 |
| YTD Return | +16.87%Best | +11.77% |
| 1Y Return | +22.98%Best | +20.35% |
| 3Y Return (annualized) | +24.98%Best | +19.08% |
| 5Y Return (annualized) | +14.39%Best | +8.09% |
| Volatility (annualized) | 18.8%Best | 20.2% |
| Max Drawdown | -53.5%Best | -63.4% |
| $10,000 over 5 years | $19,586Best | $14,755 |
| Top 10 Weight | 46.5%Best | 55.2% |
| Fund Family | Invesco (US) | Nuveen |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Mar 10, 1999 | Jan 30, 2007 |
Volatility and max drawdown are measured over the window both funds cover: Jan 26, 2007 to Sep 11, 2026 (19.6 years).
QQQ 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 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.
QQQ vs QQQX Performance
Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US) and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) is an ETF from Nuveen. Over the past year QQQ returned +22.98% while QQQX returned +20.35%. Year to date, QQQ is up 16.87% versus a gain of 11.77% for QQQX.
Over three years, QQQ compounded at +24.98% per year against +19.08% for QQQX; over five years the annualized figures are +14.39% and +8.09% respectively. Across the full 20-year window we track, QQQ has the edge at +15.51% annualized vs +4.38%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQX has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 18.8% for QQQ. 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 -53.5% for QQQ and -63.4% 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQ charges 0.18% per year while QQQX charges 0.92%. On a $10,000 position that is $18 vs $92 annually, a gap of $74 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 7.75% for QQQX.
Holdings Overlap
56.3% of QQQ's money is in holdings QQQX also owns. 75.4% of QQQX's money is in holdings QQQ also owns.
Most of QQQX is already inside QQQ. Owning both mostly buys the same companies twice.
The two holdings books were reported 187 days apart, QQQ as of Aug 5, 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 QQQ and 261 in QQQX, against full books of 107 and 284.
What only one of them owns
Our book lists 206 positions for QQQX that do not appear in our book for QQQ (19.2% of the fund), and 67 for QQQ that do not appear in QQQX (40.8%).
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 QQQ | Weight in QQQX | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.44% | 10.24% | 1.80% |
| AAPLApple, Inc | 7.27% | 8.83% | 1.56% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.76% | 7.86% | 2.10% |
| AMZNAmazon.Com Inc | 4.67% | 5.03% | 0.36% |
| GOOGAlphabet Inc | 3.13% | 5.23% | 2.10% |
| AVGOBroadcom Inc | 3.16% | 4.31% | 1.15% |
| TSLATesla Inc | 2.56% | 3.95% | 1.39% |
| METAMeta Platforms, Inc. | 2.78% | 3.71% | 0.93% |
| AMDAdvanced Micro Devices Inc. | 3.45% | 2.49% | 0.96% |
| AMATApplied Materials, Inc. | 1.86% | 3.51% | 1.65% |
75.4% of QQQX is already inside QQQ.
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, QQQ or QQQX?
QQQ has an expense ratio of 0.18% while QQQX charges 0.92%. QQQ is the cheaper option, by $74 a year on a $10,000 investment.
Which performed better, QQQ or QQQX?
Over the past year QQQ returned +22.98% vs +20.35% for QQQX, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), QQQ annualized +15.51% vs +4.38% for QQQX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQ or QQQX?
QQQX has been the more volatile fund at 20.2% annualized versus 18.8% for QQQ. Worst drawdown: QQQ -53.5% vs QQQX -63.4%.
Should I hold both QQQ and QQQX?
QQQ and QQQX have a monthly-return correlation of 0.87, 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 QQQ and QQQX?
75.4% of QQQX's money is in holdings QQQ also owns. 75.4% of QQQX's is in holdings QQQ also owns. They hold 28 positions in common, counted across the 102 positions we hold weights for in QQQ and 261 in QQQX.
Which pays a higher dividend, QQQ or QQQX?
QQQ yields 0.44% while QQQX yields 7.75%, so QQQX currently pays the higher dividend yield.
Is QQQX better than QQQ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.5% 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.