What Is the QXQ ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The SGI Enhanced Nasdaq-100 ETF (QXQ) adds option income to Nasdaq-100 index returns. It is an actively managed option overlay exchange-traded fund often discussed alongside the Nasdaq outlook for investors seeking growth and distribution income at the same time.
SubscribeWhat Is the SGI Enhanced Nasdaq-100 ETF?
This is an actively managed ETF that tracks the returns of the Nasdaq-100 Index while generating additional income through an ultra-short-term option selling strategy.
It suits investors who want both Nasdaq-100 growth exposure and regular distribution income.
The ETF is managed actively by Summit Global Investments.
How Does the SGI Enhanced Nasdaq-100 ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Nasdaq-100 (using options and futures) |
| Management Style | Active (option overlay) |
| Rebalancing Frequency | As needed (option position management) |
| Dividend Frequency | Quarterly |
| Total Expense Ratio | 0.98% |
The fund invests a substantial portion of its net assets in Nasdaq-100 constituent stocks and related options and ETFs to track index returns, while running an ultra-short-term call and put selling strategy in parallel to generate additional income. It features a risk management process built on dynamic hedging and is operated as a non-diversified fund.
- An active structure that pursues Nasdaq-100 exposure and option income at the same time
- A risk management strategy based on dynamic hedging, run in parallel
SGI Enhanced Nasdaq-100 ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $84.4M, and the total expense ratio is 0.98% per year.
Unlike the volatility hedge products such as VXX and PHDG, or the weekly distribution products such as QQQY and WDTE shown in the table, this ETF differs in character: it maintains Nasdaq-100 growth exposure while layering option income on top.
SGI Enhanced Nasdaq-100 ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeSince launch, it has largely moved in step with the Nasdaq-100 rally and shown an upward trend. Because of the option overlay, its price swings may differ somewhat from those of pure index-tracking products during sharp rallies and sell-offs.
Interest in actively managed income-oriented Nasdaq products continues among investors who want both growth and distribution income, and steady inflows have been observed across this category as a whole.
SGI Enhanced Nasdaq-100 ETF Pros and Cons
Its strength is providing Nasdaq-100 growth exposure and option income at the same time, while its weaknesses are the complexity and cost burden of the active option strategy.
💪 Key Strengths
⚠️ Points to Watch
SGI Enhanced Nasdaq-100 ETF Alternatives and Related Products
Unlike the volatility and hedge products such as VXX and PHDG that appear in the table, this ETF maintains Nasdaq-100 growth exposure while adding income. Direct substitutes that track the same Nasdaq-100 on a purely passive basis include QQQ and QQQM, and similar strategy products that pursue income through option selling, such as JEPQ and QYLD, can also be compared.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VXX | iPath Series B S&P 500 VIX Short-Term FuturesTM ETN | $19.21 | +10.3% | $512.0M | 0.89% | - | -43.2% |
 QQQY | Defiance Nasdaq 100 Weekly Distribution ETF | $20.45 | -3.5% | $184.4M | 1.01% | 35.32% | -18.5% |
 QGRD | Horizon Nasdaq-100 Defined Risk ETF | $28.38 | -2.4% | $167.3M | 0.85% | - | +3.5% |
 WDTE | Defiance S&P 500 Weekly Distribution ETF | $27.46 | -1.8% | $70.3M | 1.03% | 33.61% | -17.2% |
 PHDG | Invesco S&P 500 Downside Hedged ETF | $40.65 | -1.6% | $62.1M | 0.39% | 1.44% | +7.0% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 USLM | United States Lime & Minerals Inc | 1.13% | $111.61 | -2.0% | $3.2B | 23.9 | 0.22% |
 BNO | United States Brent Oil Fund LP | 0.29% | $71.39 | +0.9% | $0.0M | - | - |
 FAF | First American Financial Corp | 0.07% | $63.82 | +0.2% | $6.5B | 9.0 | 3.64% |
 QQQ | Invesco QQQ Trust Series 1 | 0.05% | $690.49 | -3.5% | $0.0M | - | 0.45% |
SGI Enhanced Nasdaq-100 ETF Investor Checkpoints
Here are the points to review before investing in QXQ. Given the nature of an active ETF that combines Nasdaq-100 exposure with option income, understanding the structure and checking costs are especially necessary.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cost level relative to passive index ETFs | Somewhat high |
| 📈 Nasdaq-100 Correlation | Check whether growth exposure stays similar to the index | Correlation maintained |
| 💰 Distribution Stability | Check the potential variability of option income-based distributions | Quarterly payments maintained |
| ⚠️ Understanding the Structure | Learn the risk and return profile of the option selling strategy in advance | Review needed |
An option selling strategy can cap upside during sharp rallies, and during steep declines losses can still occur despite hedging. Investors should also consider the concentration risk in big tech stocks that comes with a non-diversified structure.
If you want Nasdaq-100 growth exposure together with option income, this ETF can be an alternative. If you want pure growth tracking, consider QQQ and QQQM, and to compare similar income strategies, review JEPQ and QYLD as well.
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 July 2, 2026.
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