QQQ vs QQQM
Invesco runs two funds on the same Nasdaq-100 index. QQQ is the original, hugely traded version; QQQM is a newer, lower-cost twin aimed at long-term investors. They hold the same companies, so this page is really about cost and use, not performance.
QQQ and QQQM track the identical Nasdaq-100 index; QQQM is the newer, cheaper version built for long-term holders, while QQQ stays popular with active traders.
These track the same index
QQQ and QQQM track the identical Nasdaq-100 index, so their returns are expected to differ only slightly, mostly by the fee gap. The meaningful differences are cost and how you use the fund: long-term holding versus heavy trading.
Pick two investments, choose a time range, and we will show how each performed with real data.
Price return counts only the change in market price. Dividends are ignored.
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We could not find enough real, overlapping price data for Invesco QQQ Trust and Invesco Nasdaq-100 ETF over this range. Try a different range, or a different pair. We do not fill gaps with estimated data.
For education only. Money Masters does not give investment advice or recommendations, and nothing here is a suggestion to buy or sell any asset. Figures use real historical prices; total return uses real dividend data where it is available and is otherwise shown as price return. Fees and taxes are not included. Past performance does not guarantee future results.
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Cost and what each tracks
Over long holding periods, a small fee difference compounds. Here is the cost and the index behind each fund.
Expense ratios as of 2026, from each fund’s provider. Verify the current figure on the fund’s page before investing. See our guide on why fees matter and run the impact in the compound interest calculator.
Which investor is each designed for?
These are educational profiles, not advice. The right fit depends on your own goals, timeline, and comfort with risk.
A long-term holder who wants Nasdaq-100 exposure at the lower fee, where 0.05% a year compounds over decades.
An active trader or options user who values QQQ being one of the most liquid funds in the world, with the deepest options market.
Frequently asked questions
What is the difference between QQQ and QQQM?
They track the same Nasdaq-100 index and hold the same companies. QQQM charges 0.15% a year versus QQQ at 0.20%, and QQQ trades far more heavily. Long-term investors often prefer QQQM for the lower fee; active traders often prefer QQQ for its liquidity.
Is QQQM just a cheaper QQQ?
Essentially yes. Invesco launched QQQM in 2020 specifically for buy-and-hold investors who wanted the same Nasdaq-100 exposure at a lower cost. The main trade-off is that QQQM is less heavily traded than QQQ.
Should a beginner pick QQQ or QQQM?
For a beginner planning to hold long term, the lower-cost QQQM is often the more natural pick. Either way, the Nasdaq-100 is concentrated in large technology names, so it is less diversified than a broad S&P 500 or total-market fund.
Still unsure?
Keep learning. These pick up exactly where this comparison leaves off.