QNDX vs. QQQM

Last updated Aug 4, 2026

QNDX (SPDR Portfolio Nasdaq 100 ETF) and QQQM (Invesco NASDAQ 100 ETF) are both Nasdaq-100 funds - QNDX tracks the Nasdaq-100 Index while QQQM tracks the NASDAQ-100 Index. Both are passively managed. Their 1.00 correlation means they have historically moved very closely together. QNDX charges 0.10%/yr vs 0.15%/yr for QQQM.

Performance

QNDX vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Nasdaq 100 ETF (QNDX) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QNDX

• 1D: 1.76%
• 1M: -1.78%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QQQM

• 1D: 1.76%
• 1M: -1.76%
• 6M: 12.09%
• YTD: 14.26%
• 1Y: 27.06%
• 3Y*: 24.26%
• 5Y*: 14.53%
• 10Y*: —
• ALL TIME*: 16.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QNDX SPDR Portfolio Nasdaq 100 ETF	$12.14M	$13.95M	$12.24M
QQQM Invesco NASDAQ 100 ETF	$1.05B	$933.44M	$1.20B

QNDX vs. QQQM - Yearly Performance Comparison

	2026 (YTD)
QNDX SPDR Portfolio Nasdaq 100 ETF	-2.02%
QQQM Invesco NASDAQ 100 ETF	-1.91%

Correlation

The correlation between QNDX and QQQM is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	1.00

Return for Risk

QNDX vs. QQQM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QNDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QQQM

QQQM Risk / Return Rank: 59
QQQM Sharpe Ratio Rank: 59
QQQM Sortino Ratio Rank: 55
QQQM Omega Ratio Rank: 55
QQQM Calmar Ratio Rank: 64
QQQM Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QNDX vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Nasdaq 100 ETF (QNDX) and Invesco NASDAQ 100 ETF (QQQM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QNDX	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.42	—
Sortino ratio: Return per unit of downside risk	—	1.96	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	2.27	—
Martin ratio: Return relative to average drawdown	—	7.22	—

Drawdowns

QNDX vs. QQQM - Drawdown Comparison

The maximum QNDX drawdown since its inception was -10.10%, smaller than the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for QNDX and QQQM.

Drawdown Indicators

	QNDX	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-10.10%	-35.04%	+24.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.04%	—
Current Drawdown Current decline from peak	-4.93%	-6.06%	+1.13%
Average Drawdown Average peak-to-trough decline	-3.83%	-8.14%	+4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.76%	—

Volatility

Volatility by Period

	QNDX	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.59%	19.23%	+4.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.59%	22.76%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	22.33%	+1.26%

QNDX vs. QQQM - Expense Ratio Comparison

QNDX has a 0.10% expense ratio, which is lower than QQQM's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QNDX vs. QQQM - Dividend Comparison

QNDX has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.45%.

Position	TTM	2025	2024	2023	2022	2021	2020
QNDX SPDR Portfolio Nasdaq 100 ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.45%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QNDX and QQQM in my portfolio?

With a correlation of 1.00, QNDX and QQQM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QNDX or QQQM?

On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QNDX or QQQM?

QNDX is cheaper with a 0.10% expense ratio, compared with 0.15% for QQQM.

Which ETF pays a higher dividend yield, QNDX or QQQM?

QQQM has the higher dividend yield at 0.45%, compared with 0.00% for QNDX.

What is the main difference between QNDX and QQQM?

QNDX tracks Nasdaq-100 Index, while QQQM tracks NASDAQ-100 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.10% for QNDX and 0.15% for QQQM.