QQQM vs. QNDX

Last updated Jul 16, 2026

QQQM (Invesco NASDAQ 100 ETF) and QNDX (SPDR Portfolio Nasdaq 100 ETF) are both Nasdaq-100 funds - QQQM tracks the NASDAQ-100 Index while QNDX tracks the Nasdaq-100 Index. Both are passively managed. With a 1.00 correlation, they move nearly in lockstep. QQQM charges 0.15%/yr vs 0.10%/yr for QNDX.

Performance

QQQM vs. QNDX - Performance Comparison

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

Returns By Period

QQQM

• 1D: -0.25%
• 1M: -3.38%
• 6M: 16.15%
• YTD: 17.15%
• 1Y: 29.62%
• 3Y*: 24.51%
• 5Y*: 15.73%
• 10Y*: —

QNDX

• 1D: -0.33%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQM vs. QNDX - Yearly Performance Comparison

	2026 (YTD)
QQQM Invesco NASDAQ 100 ETF	0.58%
QNDX SPDR Portfolio Nasdaq 100 ETF	0.41%

Correlation

The correlation between QQQM and QNDX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

Return for Risk

QQQM vs. QNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQM

QQQM Risk / Return Rank: 60
QQQM Sharpe Ratio Rank: 60
QQQM Sortino Ratio Rank: 56
QQQM Omega Ratio Rank: 57
QQQM Calmar Ratio Rank: 62
QQQM Martin Ratio Rank: 62

QNDX

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QQQM vs. QNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and SPDR Portfolio Nasdaq 100 ETF (QNDX). 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.

	QQQM	QNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.17	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.49	—	—
Martin ratio: Return relative to average drawdown	8.86	—	—

Drawdowns

QQQM vs. QNDX - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, which is greater than QNDX's maximum drawdown of -3.65%. Use the drawdown chart below to compare losses from any high point for QQQM and QNDX.

Drawdown Indicators

	QQQM	QNDX	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-3.65%	-31.39%
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	-3.69%	-2.57%	-1.12%
Average Drawdown Average peak-to-trough decline	-8.15%	-1.77%	-6.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	—	—

Volatility

Volatility by Period

	QQQM	QNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.46%	22.20%	-3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.65%	22.20%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	22.20%	+0.10%

QQQM vs. QNDX - Expense Ratio Comparison

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

Dividends

QQQM vs. QNDX - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.44%, while QNDX has not paid dividends to shareholders.

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	0.44%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both QQQM and QNDX in my portfolio?

With a correlation of 1.00, QQQM and QNDX 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, QQQM or QNDX?

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, QQQM or QNDX?

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

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

QQQM has the higher dividend yield at 0.44%, compared with 0.00% for QNDX.

What is the main difference between QQQM and QNDX?

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