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ETF Comparison

ONEQ vs QQQM: The Whole Exchange or Just Its Giants?

A head-to-head comparison of the Fidelity Nasdaq Composite ETF and Invesco Nasdaq 100 ETF covering index breadth, small-cap tail, concentration, and cost.

Data updated August 19, 2026

Best for

  • ONEQInvestors who want the broader Nasdaq Composite, including mid- and small-cap companies.
  • QQQMInvestors who want focused exposure to the 100 largest non-financial Nasdaq companies.

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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

ONEQ has lagged QQQM over the trailing twelve months, posting a 22.43% total return against 24.99%. The lead holds up over 5 years too: QQQM has compounded at 15.19% a year, against 13.50% for ONEQ. 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.
SymbolYTD1Y3Y5YSince Oct 2020Volatility Sharpe Sortino Max drawdown
ONEQ13.68%22.43%26.44%13.50%15.61%20.3%0.941.35-24.1%
QQQM17.33%24.99%26.88%15.19%17.21%20.3%0.961.38-22.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 18, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2020” measures every fund from October 13, 2020 — the youngest fund's first trading day — 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.
MetricONEQQQQM
Full nameFidelity Nasdaq Composite Index ETFInvesco NASDAQ 100 ETF
IssuerFidelity InvestmentsInvesco
Last Close$103.58 as of August 19, 2026$295.45 as of August 19, 2026
Distribution yield0.55%0.48%
Distribution Safety Score™ 10096
Expense ratio0.21%0.15%
AUM$10.9B$106B
Distribution frequencyQuarterlyQuarterly
Underlying indexNasdaq Composite IndexNASDAQ-100 Index
ObjectiveTrack the Nasdaq Composite Index, providing broad exposure to all Nasdaq-listed stocks including large, mid, and small cap companies.Track the NASDAQ-100 Index with a lower expense ratio alternative to QQQ.
Asset classEquityEquity
Inception date09/25/200310/13/2020
Beta1.31.18
Last dividend$0.1430$0.3520
Ex-dividend date06/18/202606/22/2026

Bottom lineChoose ONEQ if you want the broader Nasdaq Composite, including mid- and small-cap companies. Choose QQQM if you want focused exposure to the 100 largest non-financial Nasdaq companies.

ONEQ vs QQQM: breadth or mega-cap concentration?

The decisive difference is the index, not the nearly identical income profile. ONEQ samples the full Nasdaq Composite and adds smaller companies; QQQM limits the portfolio to the Nasdaq-100's largest non-financial companies at a lower fee.

ONEQQQQM
IndexNasdaq Composite IndexNASDAQ-100 Index
CoverageFull Nasdaq Composite, including mid and small caps100 largest non-financial Nasdaq companies
Portfolio trade-offBroader market-cap exposureMore mega-cap concentration
Expense ratio0.21%0.15%
Distribution yield0.55%0.48%
Best fitInvestors seeking the broader Nasdaq universeInvestors seeking focused Nasdaq-100 growth exposure
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Income calculator

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

Fidelity Investments
ETFs82
Total AUM$202B

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

Fidelity Investments is a major player in the ETF space, known for offering a comprehensive range of funds across diverse investment strategies and asset classes. Their lineup of 67 ETFs spans allocation, bond, dividend, equity, factor-based, income, index, international, and sector-focused strategies, with notable offerings including their Fidelity Factor and Fidelity Yield Enhanced families designed to capture specific market premiums and enhance income generation. The issuer serves both broad market investors and those seeking specialized exposure, with popular tickers like FBTC (their Bitcoin ETF) and various dividend and income-focused funds catering to different investor objectives and risk profiles.

See our curated list of related YouTube videos on ONEQ.

See all Fidelity Investments ETFs
Invesco
ETFs247
Total AUM$1008B

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.

See our curated list of related YouTube videos on QQQM.

See all Invesco ETFs

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Quick verdict

ONEQ (Fidelity Nasdaq Composite Index ETF) and QQQM (Invesco NASDAQ 100 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

ONEQ offers the higher yield at 0.55% vs 0.48% for QQQM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QQQM is cheaper with an expense ratio of 0.15% compared to 0.21%.

They track different benchmarks: ONEQ is linked to Nasdaq Composite Index while QQQM tracks NASDAQ-100 Index, which means their performance drivers differ.

QQQM is the larger fund by assets ($106B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose ONEQ

Fidelity Nasdaq Composite Index ETF

  • Want the broader Nasdaq Composite, including mid- and small caps.
  • Want a growth tilt and can accept larger swings for more upside.

Choose QQQM

Invesco NASDAQ 100 ETF

  • Want focused Nasdaq-100 exposure to the exchange's largest non-financial companies.
  • Want a growth tilt and can accept larger swings for more upside.
  • Want to keep costs low — a 0.15% expense ratio vs 0.21% for ONEQ.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, ONEQ would generate roughly $4.58/month, while QQQM would produce $4.00/month, at current distribution rates. Both pay quarterly distributions.

ONEQ yield0.55%
QQQM yield0.48%
Monthly diff on $10K$0.58

Cost & efficiency

Over 10 years on $10,000, ONEQ would cost approximately $210 in fees vs $150 for QQQM (simplified, not compounded). The $60.00 difference may be offset by yield or performance.

ONEQ ER0.21%
QQQM ER0.15%

Strategy & risk

ONEQ tracks Nasdaq Composite Index with a large cap approach, while QQQM tracks NASDAQ-100 Index with a growth approach. Beta is 1.3 for ONEQ and 1.18 for QQQM, making QQQM the less volatile of the two by this measure.

ONEQ beta1.3
QQQM beta1.18

Fund details

ONEQ is managed by Fidelity Investments (launched 09/25/2003) with $10.9B in assets. QQQM is managed by Invesco (launched 10/13/2020) with $106B in assets.

ONEQ AUM$10.9B
QQQM AUM$106B
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Frequently asked questions

Does ONEQ hold more stocks than QQQM?

Yes — by a wide margin. Choose ONEQ if you want the broader Nasdaq Composite, including its mid- and small-cap tail; choose QQQM if you want a cheaper, more concentrated portfolio of Nasdaq's largest growth companies. ONEQ tracks Nasdaq Composite Index, which covers every common stock listed on the Nasdaq — thousands of companies, including small and mid caps, which the fund follows by sampling rather than holding all of them. QQQM tracks NASDAQ-100 Index: the 100 largest non-financial companies on that same exchange. So they share their biggest holdings and most of their return, but ONEQ adds a long tail the other one has no exposure to. Yields sit close together (0.55% against 0.48%) and the fee gap is 0.21% against 0.15%, as of August 2026.

What is the current distribution yield for ONEQ and QQQM?

ONEQ currently distributes 0.55% and QQQM 0.48%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is ONEQ or QQQM better for dividend income?

It depends on your goals. ONEQ 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 ONEQ and QQQM?

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 ONEQ or QQQM safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — ONEQ scores 100, QQQM scores 96, so ONEQ's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, ONEQ or QQQM?

ONEQ has an expense ratio of 0.21% while QQQM charges 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in ONEQ vs QQQM generate?

At current rates, $10,000 in ONEQ would generate roughly $4.58 per month ($55.00 annually). The same in QQQM would produce about $4.00 per month ($48.00 annually).

Which has performed better historically, ONEQ or QQQM?

ONEQ has lagged QQQM over the trailing twelve months, posting a 22.43% total return against 24.99%. The lead holds up over 5 years too: QQQM has compounded at 15.19% a year, against 13.50% for ONEQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

ONEQ vs QQQM — at a glance

Generated August 15, 2026.

Overview

ONEQ and QQQM are both Nasdaq-focused ETFs tracking tech-heavy indexes, but they pursue different breadth strategies. ONEQ holds the entire Nasdaq Composite—roughly 3,000+ stocks across all sizes—while QQQM tracks the Nasdaq-100, a narrower basket of the 100 largest nonfinancial Nasdaq companies. That distinction makes QQQM more concentrated in mega-cap tech and growth, while ONEQ offers exposure to the full Nasdaq ecosystem including mid and small caps.

How they differ

The biggest difference is scope: ONEQ's Nasdaq Composite mandate captures thousands of smaller listings alongside mega caps, while QQQM's Nasdaq-100 focus concentrates on the largest names. QQQM's narrower universe means heavier exposure to the "Magnificent Seven" and similar mega-cap tech dominators that have driven Nasdaq returns in recent years.

Second, QQQM carries a lower expense ratio at 0.15% versus ONEQ's 0.21%, and it's far larger with $104B in AUM versus ONEQ's $10.8B. That scale and fee advantage have made QQQM the preferred vehicle for Nasdaq-100 exposure since its 2020 inception.

Third, yield differences are modest—ONEQ at 0.54% versus QQQM at 0.47%—but the beta gap is material: ONEQ's 1.3 beta suggests it amplifies market moves more than QQQM's 1.18. This reflects ONEQ's exposure to smaller, more volatile Nasdaq listings alongside the large caps both funds hold.

Who each is best for

ONEQ: Fits investors seeking true Nasdaq-wide diversification across market caps, not just the index's largest constituents. The broader holdings appeal to those who want exposure to mid and small-cap tech and growth stories beyond mega-cap dominance.

QQQM: Designed for investors who want concentrated exposure to Nasdaq-100 mega caps—chiefly large-cap technology—with a lower fee structure and the liquidity of a $104B fund. Works well for those comfortable with heavy concentration in the largest growth names.

Key risks to know

  • Concentration in mega-cap technology: QQQM's narrower index naturally overweights the largest tech and growth names; if those companies underperform, the fund's returns suffer disproportionately. ONEQ spreads that risk across thousands of listings but still maintains significant Nasdaq tech bias.
  • Beta and volatility amplification: Both funds carry beta above 1.0, meaning they'll swing harder than the broader market. ONEQ's 1.3 beta amplifies that effect, magnifying downside moves in growth-focused markets.
  • Small-cap and mid-cap concentration within ONEQ: Smaller Nasdaq listings carry higher idiosyncratic risk and lower liquidity; ONEQ's exposure to thousands of these names adds volatility that QQQM avoids by focusing on the 100 largest.
  • Sector concentration: Both are heavily weighted toward technology and growth; neither provides meaningful diversification outside those sectors, making them sensitive to shifts in growth narratives and interest-rate expectations.

Bottom line

If you want the full Nasdaq landscape including smaller growth and mid-cap names, ONEQ's broader index offers that; if you prioritize the 100 largest Nasdaq constituents with a lower fee and larger fund, QQQM's mega-cap focus and $104B scale stand out. Both carry significant tech and growth concentration, so they're best viewed as core growth holdings rather than diversifiers. Past performance doesn't predict future results.

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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