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ETF Comparison

QQQI vs QQQM: Sell Nasdaq Upside for Cash, or Keep the Index?

A head-to-head of NEOS Nasdaq-100 High Income and Invesco Nasdaq 100 covering the overlay, cost, and what you give up for the payout.

Data updated September 18, 2026

Best for

  • QQQIInvestors who want to maximize current income — roughly 13.99%, generated by selling options premium.
  • QQQMInvestors who want a growth tilt and can accept bigger swings for higher upside.

Jump to the side-by-side numbers

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.

QQQI has lagged QQQM over the trailing twelve months, posting a 17.07% total return against 22.86%. Measured from Jan 2024 — the start of shared available history — QQQM has compounded at 22.89% a year versus 19.42% for QQQI. 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.
SymbolYTD1YSince Jan 2024Volatility Sharpe Sortino Max drawdown
QQQI12.47%17.07%19.42%16.6%0.680.96-9.6%
QQQM17.91%22.86%22.89%19.6%0.821.18-12.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Jan 2024” measures every fund from January 30, 2024 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. 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 past year) — 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.
MetricQQQIQQQM
Full nameNEOS Nasdaq-100 High Income ETFInvesco NASDAQ 100 ETF
IssuerNEOSInvesco
Last Close$54.39 as of September 18, 2026$296.91 as of September 18, 2026
Distribution rate13.99%0.47%
Distribution Safety Score™ 8497
Safety-Adjusted Yield 11.75%0.46%
Expense ratio0.68%0.15%
AUM$14.5B$105B
Distribution frequencyMonthlyQuarterly
Underlying indexNasdaq-100NASDAQ-100 Index
ObjectiveSeeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.Track the NASDAQ-100 Index with a lower expense ratio alternative to QQQ.
Asset classEquityEquity
Inception date01/29/202410/13/2020
Beta1.05531.18
Last dividend$0.6339 payable today$0.352
Ex-dividend date09/16/202606/22/2026

Bottom lineChoose QQQI if you want to maximize current income — roughly 13.99%, generated by selling options premium. Choose QQQM if you want a growth tilt and can accept bigger swings for higher upside. There's no free lunch: QQQI's payout comes from selling options, which caps upside and can erode the share price over time, while QQQM keeps full price exposure.

QQQI vs QQQM: sold upside or the full Nasdaq-100?

Same index. QQQI sells calls so it can pay a large monthly distribution. QQQM keeps the index move and pays a small dividend. The yield gap is the overlay, not a better Nasdaq.

QQQIQQQM
What it ownsNasdaq-100 exposure plus a call overlayThe Nasdaq-100, no overlay
Where returns come fromOption premium paid out, with capped upsidePrice movement plus a small dividend
Expense ratio0.68%0.15%
Distribution yield13.99%0.47%
Typical roleNasdaq-100 income overlayCore Nasdaq-100 growth holding

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. QQQI generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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.

NEOS
ETFs19
Total AUM$33.6B

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

NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.

See our curated list of related YouTube videos on QQQI.

See all NEOS ETFs
Invesco
ETFs246
Total AUM$980B

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

Want to go deeper?

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Quick verdict

QQQI (NEOS Nasdaq-100 High Income ETF) and QQQM (Invesco NASDAQ 100 ETF) are both dividend ETFs, but they take different approaches.

QQQI offers the higher yield at 13.99% vs 0.47% 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 0.68%.

They have different reference exposures: QQQI is linked to Nasdaq-100 while QQQM is linked to NASDAQ-100 Index, which means their performance drivers differ.

QQQM is the larger fund by assets ($105B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose QQQI

NEOS Nasdaq-100 High Income ETF

  • Want to maximize current income — QQQI distributes roughly 13.99% from selling options premium, vs 0.47% for QQQM.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose QQQM

Invesco NASDAQ 100 ETF

  • Want a growth tilt and can accept larger swings for more upside.
  • Want to keep costs low — a 0.15% expense ratio vs 0.68% for QQQI.

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, QQQI would generate roughly $116.58/month, while QQQM would produce $3.92/month, at current distribution rates.

QQQI yield13.99%
QQQM yield0.47%
Monthly diff on $10K$112.67

Cost & efficiency

Over 10 years on $10,000, QQQI would cost approximately $680 in fees vs $150 for QQQM (simplified, not compounded). The $530.00 difference may be offset by yield or performance.

QQQI ER0.68%
QQQM ER0.15%

Strategy & risk

QQQI is actively managed around Nasdaq-100 exposure with an active approach, while QQQM tracks NASDAQ-100 Index with a growth approach. Beta is 1.0553 for QQQI and 1.18 for QQQM, making QQQI the less volatile of the two by this measure.

QQQI beta1.0553
QQQM beta1.18

Fund details

QQQI is managed by NEOS (launched 01/29/2024) with $14.5B in assets. QQQM is managed by Invesco (launched 10/13/2020) with $105B in assets.

QQQI AUM$14.5B
QQQM AUM$105B
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Frequently asked questions

What is the difference between QQQI and QQQM?

QQQM simply tracks NASDAQ-100 Index and keeps the full index move. QQQI starts with the same Nasdaq-100 exposure and sells call options to pay monthly cash, so it distributes 13.99% against 0.47% for QQQM. That extra cash is sold upside, not a higher-quality index. Cost is 0.68% versus 0.15%. Compare total return and drawdown with the payout — a larger distribution is not automatically more wealth. Figures as of September 2026.

What is the current distribution rate for QQQI and QQQM?

QQQI currently distributes 13.99% and QQQM 0.47%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is QQQI or QQQM better for dividend income?

It depends on your goals. QQQI 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 QQQI 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 QQQI 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 — QQQM scores 97, QQQI scores 84, so QQQM'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, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, QQQI or QQQM?

QQQI has an expense ratio of 0.68% 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 QQQI vs QQQM generate?

At current rates, $10,000 in QQQI would generate roughly $116.58 per month ($1,399.00 annually). The same in QQQM would produce about $3.92 per month ($47.00 annually).

Which has performed better historically, QQQI or QQQM?

QQQI has lagged QQQM over the trailing twelve months, posting a 17.07% total return against 22.86%. Measured from Jan 2024 — the start of shared available history — QQQM has compounded at 22.89% a year versus 19.42% for QQQI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

QQQI vs QQQM — at a glance

Generated September 19, 2026.

Overview

QQQI and QQQM both track the NASDAQ-100—a 100-stock index heavy in tech and high-growth names—but deploy fundamentally different strategies. QQQM is a straightforward index ETF that aims to match the index with minimal friction. QQQI, by contrast, uses a covered-call overlay to generate monthly income from the same underlying stocks, sacrificing upside capture to fund a 13.99% distribution rate.

How they differ

The core difference is strategy: QQQI actively sells call options against its NASDAQ-100 holdings to generate premium, while QQQM simply holds the index. This choice cascades through everything else. On cost, QQQM is half the price to own at 0.15% versus 0.68%. In size, QQQM dominates with $105B in assets against QQQI's $14.5B, and QQQM has been running since 10/13/2020, while QQQI launched just 2 years ago. Both carry similar market sensitivity—QQQI's beta is 1.0553 and QQQM's is 1.18—though the covered-call mechanics will dampen QQQI's price appreciation in rallies.

Who each is best for

QQQI: Fits investors seeking regular monthly cash flow from a concentrated tech-heavy portfolio and willing to cap upside in exchange for higher current income. Works for those already comfortable with the tax and risk profile of NASDAQ-100 exposure and who view option-generated yield as a meaningful income source rather than a return-of-capital drain.

QQQM: Designed for buy-and-hold investors who want efficient, long-term NASDAQ-100 exposure without active management or high distribution churn. Suits those prioritizing compound growth and low friction cost, and who view dividends as a secondary benefit rather than the primary return driver.

Key risks to know

  • NAV erosion at elevated yields. QQQI's 13.99% distribution rate significantly exceeds the underlying NASDAQ-100 dividend yield, indicating heavy reliance on option premium and return-of-capital treatment. This pattern typically erodes net asset value over time as capital is recycled as distributions rather than reinvested for growth.
  • Capped upside in bull markets. QQQI's covered-call structure caps gains when call strikes are breached. In a sharp rally, QQQI will lag QQQM materially. This is a structural feature, not a bug, but it means participation in strong equity advances is sacrificed to fund the income target.
  • Concentration in large tech. Both funds hold the NASDAQ-100, which is skewed toward mega-cap tech (Apple, Microsoft, Nvidia, Tesla). Sector weakness or a rotation out of large-cap growth will hit both, though QQQI's option overlay won't protect downside—it only clips upside. If the covered-call strategy underperforms or expense ratios become uncompetitive, the fund could face redemption pressure and widening bid-ask spreads. The real question is whether QQQI's 13.99% yield is sustainable or whether you're trading future principal for today's cash. Past performance does not guarantee 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.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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