Security Comparison

QQQ vs FXAIX: Different Index, Different Wrapper

A head-to-head of the Invesco QQQ Trust and Fidelity's 500 Index Fund covering trading, cost, and why they are not the same market.

Data updated September 18, 2026

Best for

FXAIXInvestors who want higher current income (1.03% vs 0.45% for QQQ).
QQQInvestors who want a growth tilt and can accept bigger swings for higher upside.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

FXAIX has lagged QQQ over the trailing twelve months, posting a 17.26% total return against 22.87%. The lead holds up over 10 years too: QQQ has compounded at 20.80% a year, against 15.52% for FXAIX. FXAIX has been the steadier holding, though — annualized volatility of 15.0% against 20.4% for QQQ. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	3Y	5Y	10Y	Since May 2011	Volatility	Sharpe	Sortino	Max drawdown
FXAIX	12.45%	17.26%	21.45%	13.19%	15.52%	14.00%	15.0%	1.00	1.44	-18.5%
QQQ	17.95%	22.87%	25.51%	14.73%	20.80%	18.70%	20.4%	0.90	1.29	-22.8%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since May 2011” measures every fund from May 10, 2011 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	FXAIX	QQQ
Full name	Fidelity 500 Index Fund	Invesco QQQ Trust
Issuer	Fidelity Investments	Invesco
Last Close	$266.43 as of September 18, 2026	$721.45 as of September 18, 2026
Distribution rate	1.03%	0.45%
Distribution Safety Score™	100	97
Safety-Adjusted Yield	1.03%	0.44%
Expense ratio	0.015%	0.18%
AUM	$859B	$475B
Distribution frequency	Quarterly	Quarterly
Underlying index	—	Nasdaq-100 Index
Objective	—	Track the Nasdaq-100 Index, which includes 100 of the largest non-financial Nasdaq stocks.
Asset class	Equity	Equity
Inception date	02/17/1988	03/10/1999
Beta	1.0	1.26
Last dividend	$0.695	$0.8135
Ex-dividend date	07/10/2026	06/22/2026

Bottom lineChoose FXAIX if you want higher current income (1.03% vs 0.45% for QQQ). Choose QQQ if you want a growth tilt and can accept bigger swings for higher upside.

FXAIX vs QQQ: S&P 500 fund or Nasdaq-100?

Different index and different wrapper. FXAIX is a Fidelity mutual fund. QQQ is an ETF of 100 Nasdaq names.

	FXAIX	QQQ
Vehicle	Index mutual fund	ETF
Index	S&P 500	Nasdaq-100 Index
Trading	End-of-day net asset value	Intraday at a market price
Expense ratio	0.015%	0.18%

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Invesco

ETFs246

Total AUM$980B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

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Quick verdict

FXAIX (Fidelity 500 Index Fund) is a mutual fund, while QQQ (Invesco QQQ Trust) is an ETF — their trading structures differ.

FXAIX offers the higher yield at 1.03% vs 0.45% for QQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

FXAIX is cheaper with an expense ratio of 0.015% compared to 0.18%.

FXAIX is the larger fund by assets ($859B), but assets alone do not establish trading costs or liquidity.

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Deep dive

Yield & income

On a $10,000 investment, FXAIX would generate roughly $8.58/month, while QQQ would produce $3.75/month, at current distribution rates. Both pay quarterly distributions.

FXAIX yield1.03%

QQQ yield0.45%

Monthly diff on $10K$4.83

Cost & efficiency

Over 10 years on $10,000, FXAIX would cost approximately $15 in fees vs $180 for QQQ (simplified, not compounded). The $165.00 difference may be offset by yield or performance.

FXAIX ER0.015%

QQQ ER0.18%

Strategy & risk

QQQ tracks Nasdaq-100 Index with a growth approach. FXAIX is a mutual fund whose tracked index or strategy detail is not recorded in our data, so this comparison rests on the measured figures — yield, fees, size, and performance — rather than strategy labels. Beta is 1.0 for FXAIX and 1.26 for QQQ, making FXAIX the less volatile of the two by this measure.

FXAIX beta1.0

QQQ beta1.26

Fund details

FXAIX is managed by Fidelity Investments (launched 02/17/1988) with $859B in assets. QQQ is managed by Invesco (launched 03/10/1999) with $475B in assets.

FXAIX AUM$859B

QQQ AUM$475B

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Frequently asked questions

What is the difference between QQQ and FXAIX?

Different index and different wrapper. QQQ (Invesco QQQ Trust) is an ETF that tracks the Nasdaq-100 and trades all day. FXAIX (Fidelity 500 Index Fund) is a Fidelity S&P 500 index mutual fund that transacts at end-of-day net asset value. Cost is 0.18% versus 0.015%; distributions are 0.45% and 1.03% as of September 2026. FXAIX is a mutual fund, not an exchange-traded fund.

What is the current distribution rate for FXAIX and QQQ?

FXAIX currently distributes 1.03% and QQQ 0.45%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is FXAIX or QQQ better for dividend income?

It depends on your goals. FXAIX currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both FXAIX and QQQ?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is FXAIX or QQQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — FXAIX scores 100, QQQ scores 97, so FXAIX's payout currently looks the more resilient of the two. FXAIX has also shown lower price volatility (beta 1.00 vs 1.26 for QQQ). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, FXAIX or QQQ?

FXAIX has an expense ratio of 0.015% while QQQ charges 0.18%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in FXAIX vs QQQ generate?

At current rates, $10,000 in FXAIX would generate roughly $8.58 per month ($103.00 annually). The same in QQQ would produce about $3.75 per month ($45.00 annually).

Which has performed better historically, FXAIX or QQQ?

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FXAIX vs QQQ — at a glance

Generated September 19, 2026.

Overview

FXAIX is a mutual fund tracking the S&P 500, giving you exposure to 500 large-cap U.S. companies across all sectors. QQQ is an ETF tracking the Nasdaq-100, concentrating on 100 of the largest non-financial stocks, heavily weighted toward technology and growth. The core distinction: FXAIX offers broad large-cap exposure; QQQ tilts sharply toward tech and growth stocks with meaningfully higher volatility.

How they differ

FXAIX holds the entire S&P 500, while QQQ holds only the 100 largest Nasdaq stocks, excluding financials—a much narrower universe skewed toward technology, consumer discretionary, and communication services. This shows up in their betas: FXAIX runs at 1.0 (meaning it moves with the broad market), while QQQ's 1.26 indicates it amplifies market moves by 26%. On yield, FXAIX distributes 1.03%, compared to QQQ's 0.45%, reflecting the growth focus of tech stocks. FXAIX's expense ratio is 0.015%—among the cheapest in the industry—versus 0.18% for QQQ.

Who each is best for

FXAIX: Fits investors seeking core large-cap U.S. equity exposure with minimal cost, broad sector diversification, and a stable income stream from lower-volatility, mature companies.

QQQ: Fits investors comfortable with growth-stock concentration and willing to accept higher volatility in exchange for upside participation in technology and innovation-driven sectors.

Key risks to know

Sector concentration in QQQ. The Nasdaq-100's heavy technology weighting means performance diverges sharply from the broad market when tech underperforms. FXAIX's diversification across all 11 sectors provides more stable returns during sector rotations.

QQQ's higher beta amplifies drawdowns. With a beta of 1.26, QQQ can decline 25%+ more sharply than the S&P 500 in downturns, making recovery time longer for buy-and-hold investors.

Growth-stock valuation sensitivity. QQQ's holdings are more sensitive to interest-rate changes and earnings expectations than the S&P 500. Rising rates or slowing growth can trigger sharper repricing.

Lower yield on QQQ reflects growth orientation. QQQ's 0.45% yield versus FXAIX's 1.03% signals QQQ's holdings reinvest more earnings into growth rather than dividends, increasing tax drag and reinvestment risk in taxable accounts.

Bottom line

If you want broad U.S. large-cap equity exposure with the lowest possible fees and diversification across all sectors, FXAIX's 0.015% expense ratio and 1.0 beta make it a core-holding choice. If you have higher risk tolerance and believe in concentrated growth exposure to technology leaders, QQQ's higher beta and growth tilt offer that, though at higher volatility and slightly higher cost. Past performance doesn't predict future results, and your time horizon should guide how much volatility you can tolerate.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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