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ETF Comparison

QNDX vs IQQ: The New Low-Cost Nasdaq-100 Trackers

A head-to-head comparison of the SPDR Portfolio Nasdaq 100 ETF and the iShares Nasdaq 100 ETF covering cost, size, liquidity, and fit against the established Nasdaq-100 funds.

Updated September 30, 2026

No track record yet. IQQ, QNDX launched within the last six months. The forward distribution rate is left blank until a payout is published.

How these figures are calculated: methodology.

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. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

IQQ has lagged QNDX over the shared window since Jul 2026, posting a 2.38% total return against 2.44%. 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.
SymbolSince Jul 2026
IQQ2.38%
QNDX2.44%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jul 2026” measures every fund from July 9, 2026 — the start of shared available history — so all funds share one comparison window.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricIQQQNDX
Full nameiShares Nasdaq 100 ETFState Street SPDR Portfolio Nasdaq 100 ETF
IssueriSharesState Street
Last Close$25.03 as of September 30, 2026$25.06 as of September 30, 2026
Distribution rate——
Trailing 12-month yield0.08%0.11%
Distribution Safety Score™ 5050
Expense ratio0.10%0.10%
AUM$592M$434M
Distribution frequencyQuarterlyQuarterly
Underlying indexNasdaq-100 IndexNasdaq-100 Index
Objective—Track the Nasdaq-100 Index at a low expense ratio for core large-cap growth equity exposure.
Asset classEquityEquity
Inception date07/09/202606/24/2026
Last dividend$0.021$0.027
Ex-dividend date09/15/202609/21/2026

— Distribution rate, Safety-Adjusted Yield, last dividend, and ex-dividend date are not yet available because IQQ launched July 2026 and QNDX launched June 2026; these fields will populate after the first distribution.

Bottom lineWe won't call this one: IQQ launched July 2026 and QNDX launched June 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional.

QNDX vs IQQ: two cheap Nasdaq-100 trackers

Same index, similar rock-bottom fees. Issuer, assets, and liquidity separate them. Stack either against QQQ or QQQM before switching a core holding.

IQQQNDX
IndexNasdaq-100 IndexNasdaq-100 Index
IssueriSharesState Street
Expense ratio0.10%0.10%
Fund size$592M$434M
Distribution rate——
Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

iShares
ETFs466
Total AUM$4683B

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

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on IQQ.

See all iShares ETFs
State Street
ETFs179
Total AUM$2148B

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

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on QNDX.

See all State Street ETFs

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Quick verdict

IQQ (iShares Nasdaq 100 ETF) and QNDX (State Street SPDR Portfolio Nasdaq 100 ETF) are both quarterly-pay ETFs, but they take different approaches.

Deep dive

Yield & income

On a $10,000 investment, IQQ has no reported distribution yield yet, so a cash estimate is not available, while QNDX has no reported distribution yield yet, so a cash estimate is not available, at current distribution rates. Both pay quarterly distributions.

IQQ yield—
QNDX yield—

Cost & efficiency

Over 10 years on $10,000, IQQ would cost approximately $100 in fees vs $100 for QNDX (simplified, not compounded). Both charge the same expense ratio.

IQQ ER0.10%
QNDX ER0.10%

Strategy & risk

IQQ tracks Nasdaq-100 Index with a large cap approach, while QNDX tracks Nasdaq-100 Index with a large cap approach.

Fund details

IQQ is managed by iShares (launched 07/09/2026) with $592M in assets. QNDX is managed by State Street (launched 06/24/2026) with $434M in assets.

IQQ AUM$592M
QNDX AUM$434M
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Frequently asked questions

What is the difference between QNDX and IQQ?

QNDX and IQQ both track the Nasdaq-100 at bargain fees, so the template's cost lead is nearly a tie: 0.10% versus 0.10%. The decision is issuer, size, and liquidity. QNDX (State Street SPDR Portfolio Nasdaq 100 ETF) has $434M; IQQ (iShares Nasdaq 100 ETF) has $592M. Distributions are — and — as of September 2026. Stack either against QQQ or QQQM on spreads and AUM before switching a core Nasdaq-100 holding.

Which of IQQ or QNDX pays more dividend income?

QNDX currently reports a distribution yield, while IQQ has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

What is the difference between IQQ and QNDX?

IQQ (iShares Nasdaq 100 ETF) tracks Nasdaq-100 Index with a large cap approach, while QNDX (State Street SPDR Portfolio Nasdaq 100 ETF) tracks Nasdaq-100 Index with a large cap approach. They are issued by iShares and State Street respectively.

Can I hold both IQQ and QNDX?

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 IQQ or QNDX safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: IQQ scores 50, QNDX scores 50. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, IQQ or QNDX?

IQQ and QNDX both charge the same expense ratio of 0.10%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in IQQ vs QNDX generate?

At current rates, IQQ has not established a distribution history yet, so a cash estimate is not available. QNDX has not established a distribution history yet, so a cash estimate is not available.

Which has performed better historically, IQQ or QNDX?

IQQ has lagged QNDX over the shared window since Jul 2026, posting a 2.38% total return against 2.44%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

IQQ vs QNDX — at a glance

Generated September 26, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

IQQ and QNDX are both ETFs tracking the Nasdaq-100 Index, giving them identical underlying exposure to 100 of the largest non-financial companies on the Nasdaq exchange. Both charge 0.10% and distribute quarterly. The funds are functionally interchangeable core equity holdings, with negligible differences in structure, cost, and asset base. Both track the same index at the same cost, so performance and holdings will track nearly identically. IQQ has $592M in assets; QNDX has $434M, a difference of roughly $11 million that carries no practical significance for most investors. Both distribute quarterly and impose no meaningful tax or structural advantage over the other.

Who each is best for

IQQ: Investors already using iShares products who want broad Nasdaq-100 exposure in a single low-cost holding without switching fund families.

QNDX: Investors holding other State Street SPDR funds who prefer consolidated reporting and wish to avoid multi-issuer account complexity.

Key risks to know

  • Index concentration in technology and mega-cap growth. The Nasdaq-100 tilts heavily toward information technology and a handful of ultra-large companies. A sharp correction in mega-cap tech stocks, or a prolonged period of weakness in high-growth valuations, will significantly impact both funds' NAV.
  • Equivalent tracking risk. Both funds track the same index with identical expense ratios, meaning tracking error will stem from identical sources — cash drag, lending revenue, and minor implementation variance. Neither offers a cost or efficiency advantage that would warrant choosing one over the other based on tracking performance.

Bottom line

IQQ and QNDX offer identical economic exposure, identical cost, and identical structure. The choice between them hinges entirely on operational convenience — fund family alignment and account consolidation — rather than performance, risk, or expense. Past performance does not predict future results; focus your decision on administrative fit rather than seeking differentiation where none exists.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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These comparisons follow the Dividend Vision methodology.