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ETF Comparison

ONEQ vs QQQM: Which Is the Better Pick in 2026?

A head-to-head comparison of Fidelity Nasdaq Composite Index ETF and Invesco NASDAQ 100 ETF covering yield, cost, risk, and income potential.

Data updated July 21, 2026

Fidelity Investments
ETFs82
Total AUM$195B

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
ETFs254
Total AUM$964B

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

Side-by-side snapshot

ONEQQQQM
Full nameFidelity Nasdaq Composite Index ETFInvesco NASDAQ 100 ETF
IssuerFidelity InvestmentsInvesco
Last Close$100.55 as of July 21, 2026$286.58 as of July 21, 2026
Distribution yield0.57%0.49%
Distribution Safety Score™ 9296
Expense ratio0.21%0.15%
AUM$10.4B$97.5B
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
Beta1.291.18
Last dividend$0.1430$0.3520
Ex-dividend date06/18/202606/22/2026

Bottom lineONEQ and QQQM are nearly interchangeable — both offer very similar large cap growth exposure with very similar cost and risk. The clearest tie-breaker is cost: QQQM is cheaper at 0.15% vs 0.21%.

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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 22.55% total return against 24.03%. The lead holds up over 5 years too: QQQM has compounded at 15.19% a year, against 13.45% for ONEQ. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5YSince Oct 2020Volatility Sharpe Sortino Max drawdown
ONEQ10.35%22.55%22.90%13.45%15.25%20.2%0.811.15-24.1%
QQQM13.81%24.03%23.49%15.19%16.84%20.1%0.831.19-22.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 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.

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 0.57% vs 0.49% 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 ($97.5B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, ONEQ would generate roughly $4.75/month, while QQQM would produce $4.08/month, at current distribution rates. Both pay quarterly distributions.

ONEQ yield0.57%
QQQM yield0.49%
Monthly diff on $10K$0.67

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 1.29 for ONEQ and 1.18 for QQQM, indicating QQQM is less volatile relative to the market.

ONEQ beta1.29
QQQM beta1.18

Fund details

ONEQ is managed by Fidelity Investments (launched 09/25/2003) with $10.4B in assets. QQQM is managed by Invesco (launched 10/13/2020) with $97.5B in assets.

ONEQ AUM$10.4B
QQQM AUM$97.5B
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Frequently asked questions

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.

What is the difference between ONEQ and QQQM?

ONEQ (Fidelity Nasdaq Composite Index ETF) tracks Nasdaq Composite Index with a large cap approach, while QQQM (Invesco NASDAQ 100 ETF) tracks NASDAQ-100 Index with a growth approach. They are issued by Fidelity Investments and Invesco respectively.

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.

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 $4.75 per month ($57.00 annually). The same in QQQM would produce about $4.08 per month ($49.00 annually).

Which has performed better historically, ONEQ or QQQM?

ONEQ has lagged QQQM over the trailing twelve months, posting a 22.55% total return against 24.03%. The lead holds up over 5 years too: QQQM has compounded at 15.19% a year, against 13.45% 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 July 2026 from current fund data.

Overview

ONEQ and QQQM are both growth-tilted Nasdaq index ETFs, but they track different universes. ONEQ follows the full Nasdaq Composite—roughly 3,500 stocks spanning large, mid, and small cap—while QQQM tracks only the Nasdaq-100, a much tighter index of 100 large-cap tech and growth names. That structural difference drives everything else: concentration, volatility, and yield.

How they differ

The biggest difference is scope. ONEQ gives you the entire Nasdaq ecosystem; QQQM isolates the Nasdaq-100's megacap and large-cap core. Because of that, QQQM is far more concentrated in mega-tech names (Apple, Microsoft, Nvidia, Tesla, Amazon) and carries a beta of 1.18 versus ONEQ's 1.29—meaning ONEQ actually amplifies market swings more despite its broader holding base.

Cost favors QQQM slightly: 0.15% expense ratio versus ONEQ's 0.21%. The yield difference is marginal—0.47% for QQQM versus 0.55% for ONEQ—but QQQM's $96.8B in AUM dwarfs ONEQ's $10.4B, translating to tighter bid-ask spreads and more consistent trading in and out.

ONEQ launched in 2003; QQQM is new (October 2020), positioned as a lower-cost alternative to QQQ (which costs 0.20% and carries a similar Nasdaq-100 exposure). Both pay quarterly dividends.

Who each is best for

  • ONEQ: Fits investors seeking exposure to the full breadth of Nasdaq-listed companies and willing to accept smaller-cap and mid-cap holdings alongside mega-cap tech. Appeals to those who want to avoid concentration in the largest 100 names.
  • QQQM: Designed for investors comfortable with heavy concentration in mega-cap growth and tech, valuing lower fees and a simpler large-cap-only mandate. Works well for those building a satellite position in the Nasdaq-100's core moat stocks.

Key risks to know

  • Concentration in mega-cap tech: QQQM's Nasdaq-100 focus means roughly 40–50% of the portfolio is often in just five to seven names (Apple, Microsoft, Nvidia, Tesla, Amazon). A downturn in big tech hits much harder than it would in ONEQ.
  • Higher volatility from ONEQ's beta: Despite its broader diversification, ONEQ's 1.29 beta suggests it amplifies downturns more than QQQM's 1.18 beta. This likely reflects smaller-cap and mid-cap cyclicality embedded in the full Composite.
  • Liquidity differences: QQQM's $96.8B AUM means tighter spreads and deeper order books; ONEQ's $10.4B is a meaningful gap for large block traders or frequent rebalancers.
  • Small-cap and mid-cap sensitivity in ONEQ: The Nasdaq Composite includes thousands of smaller firms whose earnings can be choppy in recessions. QQQM avoids this by design.

Bottom line

If you want true diversification across the Nasdaq's full range—large, mid, and small cap—ONEQ offers that, though you'll pay slightly more and accept higher beta. If you're focused on mega-cap and large-cap growth and prioritize a leaner fee and a proven institutional size, QQQM's concentration and lower cost stand out. Past performance of either index does not guarantee future results.

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

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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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