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ETF Comparison

QNDX vs QQQM: Does the New Lower Fee Beat an Established Fund?

A same-index comparison focused on expense ratio, trading liquidity, fund size, track record, and the practical cost of switching.

Data updated August 10, 2026

Best for

  • QNDXInvestors who want a growth tilt and can accept bigger swings for higher upside.
  • QQQMInvestors who want higher current income (0.47% while QNDX makes no distribution).

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricQNDXQQQM
Full nameState Street SPDR Portfolio Nasdaq 100 ETFInvesco NASDAQ 100 ETF
IssuerState StreetInvesco
Last Close$24.49 as of August 10, 2026$297.70 as of August 10, 2026
Distribution yield—0.47%
Distribution Safety Score™ —96
Expense ratio0.10%0.15%
AUM$24.9M$97.1B
Distribution frequencyQuarterlyQuarterly
Underlying indexNasdaq-100 IndexNASDAQ-100 Index
ObjectiveTrack the Nasdaq-100 Index at a low expense ratio for core large-cap growth equity exposure.Track the NASDAQ-100 Index with a lower expense ratio alternative to QQQ.
Asset classEquityEquity
Inception date06/24/202610/13/2020
Beta—1.18
Last dividend—$0.3520
Ex-dividend date—06/22/2026

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

Bottom lineChoose QNDX if you want a growth tilt and can accept bigger swings for higher upside. Choose QQQM if you want higher current income (0.47% while QNDX makes no distribution).

Same index: compare the wrapper, not the holdings

Because both ETFs track the Nasdaq-100, neither offers meaningful diversification from the other. Fee, liquidity, tracking, and the tax consequences of switching are the differences investors can actually act on.

QNDXQQQM
IndexNasdaq-100 IndexNASDAQ-100 Index
Expense ratio0.10%0.15%
Fund size$24.9M$97.1B
Track recordNewer fund; less live historyLonger live history
Before switchingCheck spread and tax costCheck spread and tax cost
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Income calculator

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State Street
ETFs181
Total AUM$2127B

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
Invesco
ETFs251
Total AUM$982B

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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Visual comparison

Key metrics

Projected income on $10K

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

Total returns

QNDX has lagged QQQM over the year to date, posting a 1.56% total return against 17.89%. 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.
SymbolYTDSince Jun 2026
QNDX1.56%1.56%
QQQM17.89%1.44%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 10, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jun 2026” measures every fund from June 24, 2026 — the youngest fund's first trading day — so all funds share one comparison window.

Quick verdict

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

QQQM currently shows a 0.47% distribution yield. QNDX has not yet established a full distribution history, so a comparable yield figure is not available.

QNDX is cheaper with an expense ratio of 0.10% compared to 0.15%.

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

QQQM has $97.1B in assets vs $24.9M for QNDX, but QNDX only launched June 2026 — AUM comparisons will become more meaningful as it builds a track record.

Who should choose each?

Choose QNDX

State Street SPDR Portfolio Nasdaq 100 ETF

  • Want a growth tilt and can accept larger swings for more upside.
  • Want to keep costs low — a 0.10% expense ratio vs 0.15% for QQQM.

Choose QQQM

Invesco NASDAQ 100 ETF

  • Want higher current income — QQQM yields 0.47% while QNDX makes no distribution.
  • Want a growth tilt and can accept larger swings for more upside.
  • Prefer an established track record — QNDX only launched June 2026.

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, QNDX has no reported distribution yield yet, so a monthly income estimate is not available, while QQQM would produce $3.92/month, at current distribution rates. Both pay quarterly distributions.

QNDX yield—
QQQM yield0.47%

Cost & efficiency

Over 10 years on $10,000, QNDX would cost approximately $100 in fees vs $150 for QQQM (simplified, not compounded). The $50.00 difference may be offset by yield or performance.

QNDX ER0.10%
QQQM ER0.15%

Strategy & risk

Both QNDX and QQQM wrap Nasdaq-100 Index with similar strategies (large cap and growth). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic.

QNDX beta—
QQQM beta1.18

Fund details

QNDX is managed by State Street (launched 06/24/2026) with $24.9M in assets. QQQM is managed by Invesco (launched 10/13/2020) with $97.1B in assets.

QNDX AUM$24.9M
QQQM AUM$97.1B
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Frequently asked questions

If QNDX and QQQM track the same index, what actually differs?

QNDX and QQQM both track the Nasdaq-100, so their underlying stock exposure should be very similar. The decision is mostly implementation: QNDX charges 0.10% and has $24.9M in assets, while QQQM charges 0.15% and has $97.1B. The larger, older fund may trade with more established liquidity; the lower fee matters gradually. Compare bid-ask spreads and any tax cost before switching an existing holding. Figures as of August 2026.

Which of QNDX or QQQM pays more dividend income?

QQQM currently reports a distribution yield, while QNDX 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 QNDX and QQQM?

Both QNDX (State Street SPDR Portfolio Nasdaq 100 ETF) and QQQM (Invesco NASDAQ 100 ETF) track Nasdaq-100 Index with similar approaches — the labels "large cap" and "growth" describe closely related mechanics. The real differences show up in yield target (— vs 0.47%), expense ratio (0.10% vs 0.15%), and issuer (State Street vs Invesco).

Can I hold both QNDX and QQQM?

You can, but expect significant overlap. Both funds use similar strategies on Nasdaq-100 Index, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Which has lower fees, QNDX or QQQM?

QNDX has an expense ratio of 0.10% 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 QNDX vs QQQM generate?

At current rates, QNDX has not established a distribution history yet, so a monthly income estimate is not available. The same in QQQM would produce about $3.92 per month ($47.00 annually).

Which has performed better historically, QNDX or QQQM?

QNDX has lagged QQQM over the year to date, posting a 1.56% total return against 17.89%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

QNDX vs QQQM — at a glance

Generated August 9, 2026 from current fund data.

Overview

QNDX and QQQM are both ETFs tracking the Nasdaq-100 Index, a large-cap growth index dominated by technology stocks. The key distinction is scale: QQQM is a mature, $97.1B fund from Invesco launched in 2020, while QNDX is a newer State Street entry with $24.9M in assets. Both charge minimal fees—0.10% (QNDX) and 0.15% (QQQM)—to deliver core exposure to the same 100 large-cap, non-financial Nasdaq stocks.

How they differ

The biggest difference is fund maturity and AUM. QQQM has been operating for over four years and holds nearly $100 billion in assets, while QNDX launched recently with less than $25 million. This AUM gap matters for trading liquidity and the likelihood the fund persists long-term.

Second, QQQM reports a distribution rate of 0.47%, while QNDX does not disclose one—typical for a brand-new fund that may not yet have established a dividend track record. Both distribute quarterly and track the identical index, so yield differences would narrow over time as QNDX matures.

Third, QQQM quotes a beta of 1.18 to the broader market, reflecting its exposure to growth volatility, while QNDX does not report beta. The expense ratio difference is tiny: 0.10% versus 0.15%, a 0.05% annual advantage for QNDX that amounts to $5 per $10,000 invested per year.

Who each is best for

QNDX: Fits investors building a core large-cap growth position who are willing to tolerate potential liquidity constraints and lack of a long operating history in exchange for the lowest possible expense ratio and access through State Street's ecosystem.

QQQM: Fits investors seeking straightforward, highly liquid Nasdaq-100 exposure with an established distribution history and the operational track record of a mature $97 billion fund, accepting a marginally higher expense ratio for stability and depth.

Key risks to know

  • Small fund risk (QNDX): Sub-$25M AUM raises questions about viability. A lack of investor inflows could trigger a fund closure or merger, forcing shareholders into a taxable liquidation event.
  • Concentration in mega-cap technology: Both funds are heavily weighted to the "Magnificent Seven" and similar mega-cap tech names; a sustained sector drawdown will hit both proportionally, and their overlapping holdings mean you aren't diversifying by choosing between them.
  • Growth volatility: QQQM's reported beta of 1.18 indicates these funds amplify broader market downturns. The Nasdaq-100 has historically outpaced the S&P 500 in rallies but also fallen harder in corrections.

Bottom line

If you value rock-bottom fees and State Street custody, QNDX's 0.10% expense ratio edges ahead—but only if you're comfortable with minimal fund size and no track record. If you want a liquid, established position with years of dividend history and institutional-scale assets, QQQM's 0.15% ratio is a negligible cost for the added stability. Either way, you're buying the same index and the same sector concentration, so the decision hinges on operational factors rather than fundamental exposure differences. 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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