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 4, 2026

Fidelity Investments

ETFs81

Total AUM$188B

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

ETFs255

Total AUM$971B

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

Invesco is a major player in the ETF space known for offering a broad, diversified lineup of 71 funds spanning multiple investment themes and strategies. Their portfolio spans income-focused funds, factor-based equity strategies, commodity exposure, digital assets, ESG investing, and the popular Invesco QQQ family tracking the Nasdaq-100, serving both income-seeking and growth-oriented investors. The issuer is particularly recognized for specialized offerings like BulletShares (laddered bond funds), sector rotation strategies, and thematic investing options, making it a comprehensive choice for investors seeking varied exposures beyond traditional index funds.

See our curated list of related YouTube videos on QQQM.

See all Invesco ETFs

Side-by-side snapshot

	ONEQ	QQQM
Full name	Fidelity Nasdaq Composite Index ETF	Invesco NASDAQ 100 ETF
Issuer	Fidelity Investments	Invesco
Last Close	$101.66 as of July 4, 2026	$293.42 as of July 4, 2026
Distribution yield	0.56%	0.48%
Distribution Safety Score	93	96
Expense ratio	0.21%	0.15%
AUM	$10.4B	$96.8B
Distribution frequency	Quarterly	Quarterly
Underlying index	Nasdaq Composite Index	NASDAQ-100 Index
Objective	Track 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 class	Equity	Equity
Inception date	09/25/2003	10/13/2020
Beta	1.26	1.18
Last dividend	$0.1430	$0.3520
Ex-dividend date	06/18/2026	06/22/2026

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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 28.59% total return against 30.85%. The lead holds up over 5 years too: QQQM has compounded at 15.72% a year, against 13.33% for ONEQ. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	3Y	5Y	Since Oct 2020	Volatility	Sharpe	Sortino	Max drawdown
ONEQ	11.57%	28.59%	24.14%	13.33%	15.61%	20.1%	0.85	1.22	-24.1%
QQQM	16.39%	30.85%	25.16%	15.72%	17.46%	20.0%	0.90	1.29	-22.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 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 0.56% 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 ($96.8B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, ONEQ would generate roughly $4.67/month, while QQQM would produce $4.00/month, at current distribution rates. Both pay quarterly distributions.

ONEQ yield0.56%

QQQM yield0.48%

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

ONEQ beta1.26

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 $96.8B in assets.

ONEQ AUM$10.4B

QQQM AUM$96.8B

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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. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

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 $4.67 per month ($56.00 annually). The same in QQQM would produce about $4.00 per month ($48.00 annually).

Which has performed better historically, ONEQ or QQQM?

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ONEQ vs QQQM — at a glance

Generated June 2026 from current fund data.

Overview

ONEQ and QQQM are both Nasdaq-focused equity ETFs, but they track different indexes with meaningfully different compositions. ONEQ tracks the full Nasdaq Composite—roughly 3,000 stocks spanning large, mid, and small caps—while QQQM tracks the narrower Nasdaq-100, which contains only the 100 largest non-financial Nasdaq stocks. The result is that QQQM is concentrated in mega-cap tech and growth names, whereas ONEQ offers broader market exposure across the entire Nasdaq ecosystem.

How they differ

The core difference is scope: ONEQ's Nasdaq Composite mandate includes thousands of smaller and mid-size companies that QQQM's Nasdaq-100 filter excludes entirely. This makes ONEQ significantly more diversified, but also means it carries more exposure to smaller, less liquid names. QQQM's tighter focus on the 100 largest Nasdaq names delivers higher concentration in the mega-cap tech stocks that have driven recent market gains, reflected in its lower beta of 1.18 versus ONEQ's 1.26.

On costs, QQQM wins modestly: a 0.15% expense ratio versus ONEQ's 0.21%. QQQM also yields slightly less (0.48% distribution rate) than ONEQ (0.57%), a reflection of its growth-stock tilt. AUM tells a story about investor preference—QQQM's $96.8B in assets dwarfs ONEQ's $10.4B, suggesting the market has gravitated toward the narrower, tech-heavy bet.

Who each is best for

ONEQ: Fits investors seeking true broad-market Nasdaq exposure rather than a concentrated bet on mega-cap tech. The Nasdaq Composite's inclusion of smaller and mid-size companies appeals to those comfortable with lower liquidity in exchange for diversification across the full exchange.

QQQM: Designed for growth-oriented investors who want pure mega-cap tech and Nasdaq-100 concentration with minimal fees. The lower expense ratio and larger asset base suit those building core growth positions in liquid, highly followed stocks.

Key risks to know

Concentration in mega-cap tech. QQQM's Nasdaq-100 mandate overweights the largest technology and growth stocks; a downturn in that sector hits harder than in ONEQ, which has ballast from smaller-cap names across industries.

ONEQ's small-cap liquidity drag. The inclusion of thousands of small Nasdaq stocks means wider bid-ask spreads and potential tracking error during market stress, a friction cost not explicit in the 0.21% expense ratio.

Growth-stock valuation risk. Both funds carry elevated beta and are sensitive to rising discount rates; neither offers defensive characteristics or income diversification. A rapid shift to value investing or rising rates could pressure both, though QQQM's concentration amplifies the move.

Beta divergence. QQQM's lower beta (1.18) implies less volatility than ONEQ (1.26), but that lower beta reflects its mega-cap tilt, not lower absolute drawdown risk in a growth-stock selloff.

Bottom line

If you want maximum diversification across the Nasdaq ecosystem and are comfortable with smaller-cap holdings, ONEQ's broader index offers that breadth; if you prefer concentrated exposure to the 100 largest Nasdaq stocks with a lower fee, QQQM's liquidity and cost advantage stand out. Past performance does not guarantee future results, and both funds' returns are tied to the performance of their underlying indexes.

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