QQQX vs QTOP
Nuveen NASDAQ 100 Dynamic Overwrite Fund vs iShares Nasdaq Top 30 Stocks ETF
Which is better, QQQX or QTOP?
Each has led over a different period.
QTOP has a lower expense ratio. QQQX led over 1Y, QTOP over the full window. QQQX is less concentrated, with 55.9% of the fund in its ten largest positions against 59.8%.
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 | QQQX | QTOP |
|---|---|---|
| Expense Ratio | 0.92% | 0.20%Best |
| AUM | $1.5B | $313M |
| Dividend Yield | 8.44% | 0.33% |
| Holdings | 229 | 70 |
| YTD Return | +12.76%Best | +12.02% |
| 1Y Return | +16.50%Best | +10.16% |
| 3Y Return (annualized) | +20.08% | - |
| 5Y Return (annualized) | +8.03% | - |
| Volatility (annualized) | 14.5%Best | 21.0% |
| Max Drawdown | -22.8%Best | -23.3% |
| $10,000 over 2 years | $14,002 | $14,330Best |
| Top 10 Weight | 55.9%Best | 59.8% |
| Fund Family | Nuveen | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Jan 30, 2007 | Oct 24, 2024 |
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Oct 24, 2024 to Nov 11, 2026 (2 years).
QQQX 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 2 years both funds cover.
QQQX vs QTOP Performance
Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) is an ETF from Nuveen and iShares Nasdaq Top 30 Stocks ETF (QTOP) is an ETF from iShares by BlackRock (US). Over the past year QQQX returned +16.50% while QTOP returned +10.16%. Year to date, QQQX is up 12.76% versus a gain of 12.02% 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 21.0% compared with 14.5% 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 -22.8% for QQQX and -23.3% 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QQQX charges 0.92% per year while QTOP charges 0.20%. On a $10,000 position that is $92 vs $20 annually, a gap of $72 per year that compounds over a long holding period. On income, QQQX currently yields 8.44% against 0.33% for QTOP.
Holdings Overlap
70.4% of QQQX's money is in holdings QTOP also owns. 74.8% of QTOP's money is in holdings QQQX also owns.
Most of QTOP is already inside QQQX. Owning both mostly buys the same companies twice.
The two holdings books were reported 46 days apart, QQQX as of Aug 31, 2026 and QTOP as of Oct 16, 2026, so some of the difference between them is the time between the two reports rather than the funds.
16 positions in common, counted across the 222 positions we hold weights for in QQQX and 32 in QTOP, against full books of 229 and 70.
What only one of them owns
Our book lists 15 positions for QTOP that do not appear in our book for QQQX (23.9% of the fund), and 177 for QQQX that do not appear in QTOP (28.8%).
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 QQQX | Weight in QTOP | Difference |
|---|---|---|---|
| NVDANvidia Corp | 11.31% | 10.61% | 0.70% |
| AAPLApple Inc | 8.46% | 9.95% | 1.49% |
| MSFTMicrosoft Corp | 6.47% | 7.88% | 1.41% |
| MUMicron Technology, Inc. | 4.80% | 5.66% | 0.86% |
| AMDAdvanced Micro Devices Inc | 4.04% | 5.24% | 1.20% |
| GOOGLAlphabet Inc | 5.08% | 4.06% | 1.02% |
| AMZNAmazon.Com Inc | 4.77% | 4.25% | 0.52% |
| METAMeta Platforms Inc | 2.86% | 4.47% | 1.61% |
| TSLATesla Inc | 3.27% | 3.93% | 0.66% |
| AVGOBroadcom Inc | 3.84% | 3.36% | 0.48% |
74.8% of QTOP is already inside QQQX.
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, QQQX or QTOP?
QQQX has an expense ratio of 0.92% while QTOP charges 0.20%. QTOP is the cheaper option, by $72 a year on a $10,000 investment.
Which performed better, QQQX or QTOP?
Over the past year QQQX returned +16.50% vs +10.16% for QTOP, so QQQX leads on 1-year performance. Over the longest common window we track (2 years), QQQX annualized +18.33% vs +19.71% for QTOP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QQQX or QTOP?
QTOP has been the more volatile fund at 21.0% annualized versus 14.5% for QQQX. Worst drawdown: QQQX -22.8% vs QTOP -23.3%.
Should I hold both QQQX and QTOP?
QQQX and QTOP 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 QQQX and QTOP?
74.8% of QTOP's money is in holdings QQQX also owns. 74.8% of QTOP's is in holdings QQQX also owns. They hold 16 positions in common, counted across the 222 positions we hold weights for in QQQX and 32 in QTOP.
Which pays a higher dividend, QQQX or QTOP?
QQQX yields 8.44% while QTOP yields 0.33%, so QQQX currently pays the higher dividend yield.
Is QTOP better than QQQX?
QTOP has a lower expense ratio. QQQX led over 1Y, QTOP over the full window. QQQX is less concentrated, with 55.9% of the fund in its ten largest positions against 59.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.