# QQQM is QQQ for a lower fee, and Micron is the holding the crowd talks about most
> QQQM is Invesco's Nasdaq-100 ETF: the same index as QQQ at a 0.15% expense ratio against 0.18%. The QQQM stock price, QQQ vs QQQM, top holdings, VOO vs QQQ, TQQQ's daily reset, and which holdings the accounts we track talk about.
By Maya Koeva ยท 2026-10-24
QQQM is Invesco's Nasdaq-100 ETF: the same stocks as QQQ, for a 0.15% expense ratio instead of
0.18%. Its share price is lower too, $290.06 at the October 23, 2026 close against $704.40 for QQQ.
Its holdings don't get equal airtime. Micron is 4.36% of the fund and drew 1,079 mentions in the
last 30 days across the accounts we track. Apple, Microsoft and Amazon are 18.5% of the fund
between them and drew 662. The accounts with a graded track record were already backing Micron
from January to April, while it was still a quiet name, and it more than tripled by June 30.
## What is QQQM?
QQQM is the Invesco NASDAQ 100 ETF. It tracks the Nasdaq-100, the index of 100 of the largest
non-financial companies listed on the Nasdaq, and holds the same stocks at the same weights as
QQQ. Invesco launched it on October 13, 2020, as a lower-fee sibling to QQQ, which has tracked the
same index since 1999.
| | |
|---|---|
| Full name | Invesco NASDAQ 100 ETF |
| Ticker | QQQM, on the Nasdaq |
| Index | Nasdaq-100 |
| Launched | October 13, 2020 |
| Expense ratio | 0.15% |
| Fund size | $107.32 billion (October 23, 2026) |
| Dividends | Paid quarterly, 0.44% over the past 12 months (October 21, 2026) |
Fund figures are from Invesco's QQQM page. Nasdaq rebalances the index every quarter and
reconstitutes it once a year, and the fund follows.
## QQQM stock price
QQQM closed at **$290.06 on Friday, October 23, 2026**. Your broker shows the price as it moves
during [market hours](/learn/stock-market-hours). Quote sites often write it as NASDAQ: QQQM,
the exchange followed by the ticker.
| Period | QQQM price change |
|---|---:|
| 2026 so far (from the December 31, 2025 close) | +14.7% |
| One year (from October 23, 2025) | +15.4% |
| Five years (from October 22, 2021) | +88.6% |
| Since its first close on October 13, 2020 ($121.05) | +139.6% |
These are price changes only, from Yahoo Finance closing prices through October 23. With the
quarterly dividends added back, each figure is a little higher.
## QQQ vs QQQM
QQQ and QQQM own the same stocks and track the same index, so their returns before fees are the
same. In 2026 so far, both rose 14.7%. Over five years, QQQM rose 88.6% and QQQ 88.3%. The
differences are in cost, share price and how much trades each day.
| | QQQ | QQQM |
|---|---|---|
| Expense ratio | 0.18% | 0.15% |
| Yearly cost on $10,000 | $18 | $15 |
| Price, October 23 close | $704.40 | $290.06 |
| Fund size, October 23 | $475.86 billion | $107.32 billion |
| Launched | March 10, 1999 | October 13, 2020 |
| Average traded per day, last 30 sessions | About $26.7 billion | About $0.87 billion |
| Options | Among the most heavily traded | Listed, thinly traded |
QQQ cut its fee from 0.20% to 0.18% on December 22, 2025, when shareholders approved turning it
from a unit investment trust into a standard ETF. That narrowed the gap with QQQM from 0.05
points to 0.03, or $3 a year on every $10,000.
**For a long-term holder**, the fee is the one difference that compounds, and QQQM's is lower.
The lower share price also makes whole shares easier to buy in small amounts, which matters if
your broker doesn't offer fractional shares. On ETFs this large, the daily volume gap doesn't
change much for someone buying a few times a year.
**For an active trader**, QQQ's volume is the point. About 30 times more money changes hands in
QQQ each day, and its options are among the most traded in the US. QQQM's options exist,
but few contracts trade.
One thing to know if you already own QQQ in a taxable account: moving to QQQM means selling QQQ
first, and the sale can bring a capital gains tax bill. Set that against a 0.03-point fee gap
before you switch.
## QQQM expense ratio
**QQQM's expense ratio is 0.15%**, per Invesco: a 0.15% management fee, with the total and net
expense ratios also at 0.15%. That works out to $1.50 a year for every $1,000 invested. You are
never billed for it. The fund deducts it from its assets a little each day, and the price you see
is already net of it.
| Fund | What it tracks | Expense ratio |
|---|---|---:|
| QQQM | Nasdaq-100 | 0.15% |
| QQQ | Nasdaq-100 | 0.18% |
| VOO | S&P 500 | 0.03% |
| SPY | S&P 500 | 0.09% |
| TQQQ | 3x the Nasdaq-100's daily move | 0.78% net, 0.94% gross |
## QQQM top holdings
These are QQQM's ten largest positions on October 23, 2026, from Invesco's holdings file. QQQ's
weights are the same.
| Holding | Ticker | Weight |
|---|---|---:|
| Nvidia (NVDA) | NVDA | 8.10% |
| Apple (AAPL) | AAPL | 8.08% |
| Microsoft (MSFT) | MSFT | 6.20% |
| Micron (MU) | MU | 4.36% |
| Amazon (AMZN) | AMZN | 4.26% |
| AMD (AMD) | AMD | 3.71% |
| Tesla (TSLA) | TSLA | 3.11% |
| Meta (META) | META | 3.04% |
| Alphabet, class A (GOOGL) | GOOGL | 2.99% |
| Alphabet, class C (GOOG) | GOOG | 2.79% |
The top ten lines add up to 46.64% of the fund. Alphabet appears twice because the index holds
both of its share classes; together they are 5.78%, which makes Alphabet the fourth-largest
company in the fund. All nine companies are [megacaps](/learn/what-is-a-megacap), and three of
them make chips: Nvidia, Micron and AMD. Nasdaq changed how the index sets and maintains its weights on May 1, 2026, per Invesco's fund page.
## What the accounts we track say about QQQM's holdings
Owning QQQM means owning these companies at these weights, whatever anyone says about them. The
conversation around them is lopsided. This is the last 30 days, September 24 to October 23, 2026,
across the accounts we track. Graded calls are the bullish and bearish calls from accounts with a
[graded track record](/learn/how-a-track-record-is-graded), and the score is the 7-day reading in
Quantral on the morning of October 24.
| Holding | Fund weight | Mentions, 30 days | Graded calls, bull : bear | Score |
|---|---:|---|---:|---:|
| Nvidia (NVDA) | 8.10% | 772 (bull 71% / bear 20%) | 96 : 11 | 78 |
| Apple (AAPL) | 8.08% | 236 (bull 57% / bear 36%) | 14 : 11 | 77 |
| Microsoft (MSFT) | 6.20% | 181 (bull 63% / bear 29%) | 12 : 3 | 65 |
| Alphabet (GOOGL, GOOG) | 5.78% | 396 (bull 67% / bear 25%) | 41 : 7 | 72 |
| Micron (MU) | 4.36% | 1,079 (bull 62% / bear 25%) | 147 : 24 | 75 |
| Amazon (AMZN) | 4.26% | 245 (bull 64% / bear 27%) | 33 : 3 | 74 |
| AMD (AMD) | 3.71% | 306 (bull 69% / bear 21%) | 26 : 8 | 74 |
| Tesla (TSLA) | 3.11% | 595 (bull 39% / bear 51%) | 33 : 10 | 68 |
| Meta (META) | 3.04% | 680 (bull 61% / bear 28%) | 81 : 15 | 72 |
These nine companies drew 4,490 mentions. Micron took 24% of them while making up 4.36% of the
fund. Nvidia and Meta came next. Apple and Microsoft, 14.28% of QQQM between them, drew 9% of
the mentions.
Tesla shows the widest split between the whole crowd and the accounts with a track record. Most of
Tesla's mentions were bearish, 51% to 39%, while its graded calls ran 33 bullish to 10 bearish.
### Micron: the graded accounts were there first
Micron is QQQM's fifth-largest company today, at 4.36%. At the start of the year it was a quiet
name.
From January through April 2026, it drew 242 mentions in total across the accounts we track,
less than a quarter of what it drew in the last 30 days alone.
The graded accounts in that quiet stretch made 121 directional calls on Micron: **111 bullish and
10 bearish**, with 28 different graded accounts on the bullish side. Micron closed 2025 at
$285.41. The crowd arrived in May, with 1,119 mentions in that one month, and by June 30 Micron
closed at $1,154.29, up 304% on the year. It has come back from that high since and closed at
$877.55 on October 23, still 207% above where it ended 2025. The longer story is in
**[our Micron signal autopsy](/blog/signal-autopsy-micron)** and on the
[Micron stock page](/stocks/MU).
### What this tells a QQQM holder
Talk about a holding doesn't change what you own:
Apple and Microsoft are 14% of your fund whether or not anyone is discussing them, and a 30-day
burst on Micron doesn't make it more than 4.36%.
The index weights companies by market value, so a holding gains weight as its price rises.
Micron's place near the top of QQQM came after its run, and the accounts with a graded record were
bullish on it for four months before most of the crowd noticed. For a
[long-term holder](/learn/long-term-investing-and-market-sentiment), that early call from
accounts with a record is the part of the crowd worth reading.
## VOO vs QQQ
VOO tracks the S&P 500, 500 large US companies across every sector, banks and insurers included,
for a 0.03% expense ratio. QQQ tracks the Nasdaq-100, 100 non-financial Nasdaq companies weighted
toward technology, for 0.18%. QQQ has risen more over the last five years and fell harder in 2022.
SPY tracks the same index as VOO for 0.09%, and the two moved within a tenth of a point of each
other over every period below.
| Price change | QQQ | VOO | SPY |
|---|---:|---:|---:|
| 2026 so far | +14.7% | +11.4% | +11.4% |
| One year | +15.4% | +13.1% | +13.1% |
| Five years | +88.3% | +67.7% | +67.7% |
| 2022 drop, peak to low | -35.6% | -25.4% | -25.4% |
| Expense ratio | 0.18% | 0.03% | 0.09% |
Closing prices from Yahoo Finance through October 23, 2026. The 2022 drop runs from each fund's
highest close to its lowest: QQQ from November 19, 2021 to December 28, 2022, VOO from January 3
to October 12, 2022, and SPY over the same dates as VOO. With dividends added back,
the five-year gap is smaller, 94.0% for QQQ against 79.9% for VOO, because the S&P 500 pays more in dividends.
The two overlap. Nvidia, Apple, Microsoft and most of QQQ's largest holdings are also among the
S&P 500's largest, so holding VOO and QQQ together doubles up on those names rather than adding
500 new ones. QQQ's extra return over five years came with a more concentrated fund and deeper
drops. Which fits depends on how much of your money you want riding on the biggest
[semiconductor](/blog/semiconductor-stocks) and software names.
## TQQQ: the 3x Nasdaq-100 ETF
TQQQ is the ProShares UltraPro QQQ. It aims for three times the Nasdaq-100's return for a single
day, then resets and does it again the next day. It launched on February 9, 2010, charges 0.78%
net (0.94% before ProShares' fee waiver), held about $34.2 billion, and closed at $66.29 on
October 23, 2026, per ProShares' fund page.
Because it resets daily, TQQQ does not return three times QQQ over a month or a year. When the
index swings up and down, each day's 3x move compounds on a different base, and the fund falls
behind. When the index climbs steadily, it can do better than 3x. ProShares says the same in its
own materials: over any period longer than a day, the return can differ a lot from the target.
| Price change | QQQ | 3x QQQ | TQQQ |
|---|---:|---:|---:|
| 2026 so far | +14.7% | +44.1% | +25.7% |
| Five years | +88.3% | +264.9% | +87.7% |
| 2022 drop, peak to low | -35.6% | | -81.8% |
Over five years, TQQQ ended up about where QQQ did, after an 81.8% drop along the way. A worked
example of how daily reset eats into a leveraged fund is in
**[how daily reset works](/blog/spacex-etf#how-daily-reset-works)**, from our SpaceX ETF guide.
## Common questions
### What is QQQM?
QQQM is the Invesco NASDAQ 100 ETF. It tracks the Nasdaq-100 index, the same index as QQQ, and
launched on October 13, 2020.
### What is the QQQM expense ratio?
0.15% a year, or $1.50 per $1,000 invested, per Invesco. QQQ charges 0.18%.
### QQQ vs QQQM: which is better?
They hold the same stocks. QQQM costs less each year and has a lower share price. QQQ trades far
more each day and has a much busier options market, which matters more to active traders than to
long-term holders.
### What is the QQQM stock price?
QQQM closed at $290.06 on October 23, 2026. For the current price, check your broker or any quote
site under the ticker QQQM.
### What are QQQM's top holdings?
As of October 23, 2026: Nvidia (8.10%), Apple (8.08%), Microsoft (6.20%), Micron (4.36%), Amazon
(4.26%), AMD (3.71%), Tesla (3.11%), Meta (3.04%) and Alphabet's two share classes (5.78%
together).
### Does QQQM pay a dividend?
Yes, quarterly. Its distribution rate over the past 12 months was 0.44% as of October 21, 2026.
### Is QQQM a good investment?
We don't give buy or sell advice. QQQM is a low-cost way to hold the Nasdaq-100, which is
concentrated in a few large technology companies. In the accounts we track, Micron, Nvidia and
Meta draw the most attention among its holdings.
### Is TQQQ the same as QQQ?
No. TQQQ aims for three times the Nasdaq-100's daily move and resets every day, so over longer
periods its return can be far from three times QQQ's. It also charges 0.78% a year.
### VOO vs QQQ: what is the difference?
VOO holds the 500 companies in the S&P 500 for 0.03% a year. QQQ holds the 100 companies in the
Nasdaq-100 for 0.18%. QQQ is more concentrated in technology, rose more over the last five years,
and fell further in 2022.
## Try it
Open any of QQQM's holdings in the app, on the web at [app.quantral.com](https://app.quantral.com),
on iOS or on Android, to see its score and every call behind it, with who made each one. Start
with a 7-day free trial on the yearly plan.
Fund facts and holdings are from Invesco's QQQM and QQQ pages and ProShares' TQQQ page, checked on
October 24, 2026. VOO's fee is from Vanguard, SPY's from Stock Analysis. Prices are closing prices
from the Yahoo chart API through October 23. Mentions cover September 24 to October 23, 2026,
New York time. Scores are the 7-day reading on the morning of October 24.
---
*Quantral surfaces signals and context from public sources to support your own research. Nothing
here is financial advice or a recommendation to buy or sell. Past signals are not indicative of
future results.*