ETF COMPARISON

QQQ vs QQQM: Same Nasdaq-100, Different Structure

QQQ and QQQM both track the Nasdaq-100 Index. The main differences are fund structure, operating history, trading profile and expense ratio.

Data verified September 29, 2026 · Educational comparison

Side-by-Side

FeatureQQQQQQM
IndexNasdaq-100Nasdaq-100
Expense ratio0.18%0.15%
InceptionMarch 10, 1999October 13, 2020
RebalancingQuarterlyQuarterly
Index reconstitutionAnnualAnnual

What They Have in Common

Both funds are designed around the Nasdaq-100 Index, so the underlying economic exposure is very similar. Both exclude financial companies by index design and carry significant exposure to large technology and growth-oriented businesses.

Expense Ratio

QQQM currently reports a 0.15% expense ratio, compared with 0.18% for QQQ. Over long periods, lower fund expenses can modestly improve net returns when two strategies otherwise deliver similar gross performance.

Trading Profile

QQQ has a much longer operating history and is widely used by active traders and institutions. QQQM was launched later with a structure and fee profile that can appeal to investors focused on long-term Nasdaq-100 exposure.

Risk

Because both track the same index, their core market risks are similar: concentration in large growth companies, valuation sensitivity and potentially greater volatility than a broader U.S. equity benchmark.

QQQ Distinctions

  • Longer history
  • Very large asset base
  • Widely used in active trading
  • 0.18% expense ratio

QQQM Distinctions

  • Launched in 2020
  • Lower 0.15% expense ratio
  • Same core Nasdaq-100 benchmark
  • Designed as a straightforward ETF structure