QQQM ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
Invesco Nasdaq 100 ETF QQQM tracks the same index as QQQ at a lower expense ratio, making it a core long-term holding with concentrated Big Tech exposure and quarterly dividends. Differences in expense ratio, liquidity, and AUM versus QQQ, XLK, and VOO are the key selection criteria.
SubscribeWhat Is the Invesco Nasdaq 100 ETF?
This is a passive ETF managed by Invesco that tracks the Nasdaq 100 Index. It holds large Nasdaq-listed non-financial stocks on a market-cap-weighted basis. Its key distinction is that it maintains the same holdings as QQQ while charging a lower expense ratio.
It suits core-asset investors who want to hold the same Nasdaq 100 exposure as QQQ for the long term at a lower cost, as well as investors who prioritize long-term holding over options trading.
It is an ETF managed with a passive (index-tracking) approach by Invesco.
How Does the Invesco Nasdaq 100 ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Nasdaq 100 |
| Management Style | Passive (index tracking) |
| Structure | Open-end ETF |
| Dividend Frequency | Quarterly |
| Total Expense Ratio | 0.15% |
| Issuer | Invesco |
It replicates the same Nasdaq 100 constituents as QQQ at the same index weights. Holdings and exposure weights are identical to QQQ, and the differences are limited to the expense ratio and the size of liquidity and the options market.
- Same holdings as QQQ
- Lower expense ratio, which favors long-term holding
- Open-end structure for efficient distribution handling
Invesco Nasdaq 100 ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $109.7B, and the total expense ratio (Expense Ratio) is 0.15% per year.
In the table, VOO, IVV, and SPY are core ETFs tracking the S&P 500, while QQQ is a direct substitute that tracks the same Nasdaq 100 but charges a higher expense ratio. VTI is a variant offering exposure to the entire US market, including mid- and small-cap stocks.
Invesco Nasdaq 100 ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeWith direct exposure to the tech growth cycle, it has tended to gain more than S&P 500 ETFs in bull markets, while showing more pronounced volatility in bear markets. It follows nearly the same trajectory as QQQ.
It belongs to the group of mega ETFs where fund flows have been observed moving from QQQ to QQQM, driven by demand for lower costs on long-term holdings. Inflows can also be especially strong during periods of robust AI and semiconductor momentum.
Invesco Nasdaq 100 ETF Pros and Cons
Its main strength is the same exposure as QQQ at a lower expense ratio. The smaller options market compared with QQQ and the concentration in Big Tech should be considered in advance.
💪 Key Strengths
⚠️ Points to Watch
Invesco Nasdaq 100 ETF Alternative ETFs and Related Products
In the table, QQQ is a direct substitute tracking the same Nasdaq 100, with an edge in options and liquidity. VOO, IVV, and SPY are S&P 500 alternatives offering broader large-cap diversification, and VTI provides exposure to the entire US market, including mid- and small-cap stocks. If you need leveraged exposure, you can also consider QLD (2x) and TQQQ (3x). For an opposite bet, there is PSQ (inverse), and for a tighter focus on the tech sector, XLK.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VOO | Vanguard S&P 500 ETF | $694.81 | -1.8% | $1.06T | 0.03% | 1.07% | +11.1% |
 IVV | iShares Core S&P 500 ETF | $759.18 | -1.8% | $886.1B | 0.03% | 1.11% | +11.1% |
 SPY | SPDR S&P 500 ETF Trust | $755.72 | -1.8% | $813.6B | 0.09% | 1% | +11.2% |
 VTI | Vanguard Morningstar Total Stock Market ETF | $371.57 | -1.8% | $701.3B | 0.03% | 1.06% | +11.2% |
 QQQ | Invesco QQQ Trust Series 1 | $690.49 | -3.5% | $480.9B | 0.18% | 0.45% | +10.3% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corp | 0.25% | $204.64 | -4.2% | $4.93T | 25.9 | 0.38% |
| AAPL | Apple Inc | 0.22% | $344.63 | -1.2% | $5.03T | 39.5 | 0.32% |
| MSFT | Microsoft Corp | 0.17% | $521.91 | -1.6% | $3.88T | 27.3 | 0.74% |
| MU | Micron Technology Inc | 0.05% | $884.74 | -5.3% | $1.00T | 11.9 | 0.08% |
Invesco Nasdaq 100 ETF Investor Checkpoints
Here are the points to review before investing in QQQM. Its strength is the same exposure as QQQ at a lower expense ratio, but the options market gap, Big Tech concentration, and currency effects deserve another check before buying. It is advisable to compare alternatives according to your holding purpose (short-term trading vs. long-term holding).
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Cost savings versus QQQ | Lower |
| 💧 Liquidity | Daily trading value versus QQQ | Somewhat smaller |
| 📊 Big Tech Weight | Concentration in top holdings | Very high |
| 💱 Exchange Rate | Impact on KRW-converted returns | No currency hedge |
Big Tech concentration, sector concentration, and exchange rate fluctuations are the main drivers of short-term volatility. In periods of rising interest rates or tech stock corrections, drawdowns can be larger than those of S&P 500 ETFs, so it is worth reviewing your position size and diversification strategy together.
If cost is the priority for long-term Nasdaq 100 exposure, QQQM is regarded as the standard choice. If options and hedging are central, QQQ is the better fit, and if you need broad market exposure, VTI is the suitable variant.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of May 22, 2026.
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