QQQM vs XLK ETF comparison
QQQM vs XLK
QQQM follows the Nasdaq-100 and holds 102 stocks, with the 100 or so largest non-financial companies on the Nasdaq. XLK holds 76 stocks and follows a different index, so the two share many of the same giant technology names but weight them differently. Costs differ: QQQM charges 0.15% and XLK charges 0.08%.
QQQM vs XLK, the short answer
QQQM and XLK differ mainly in what they hold and what they charge. Expense ratios are 0.15% and 0.08%. NAV returns, annualized (both to Sep 30, 2026): 1 year 23.79% vs 39.47%; 3 years 28.11% vs 34.49%; 5 years 16.40% vs 22.14%. Neither is better for everyone; the choice turns on cost, how concentrated in technology you want to be, and what you already own.
QQQM vs XLK overlap, if you own both
QQQM · ten largest holdings
As of Sep 30, 2026- 1NVIDIA NVDA8.36%Both
- 2Apple AAPL7.38%Both
- 3Alphabet (all classes) GOOGL5.93%Only here
- 4Microsoft MSFT5.78%Both
- 5Micron Technology MU5.04%Both
- 6Advanced Micro Devices AMD4.19%Both
- 7Amazon AMZN4.08%Only here
- 8Meta Platforms META3.27%Only here
- 9Tesla TSLA2.83%Only here
- 10Space Exploration Technologies —2.71%Only here
Ten largest total 49.6%
XLK · ten largest holdings
As of Sep 30, 2026- 1NVIDIA NVDA15.47%Both
- 2Apple AAPL13.61%Both
- 3Microsoft MSFT10.66%Both
- 4Advanced Micro Devices AMD5.06%Both
- 5Broadcom AVGO4.68%Only here
- 6Micron Technology MU4.47%Both
- 7Intel INTC3.39%Only here
- 8Palantir Technologies PLTR2.44%Only here
- 9Cisco Systems CSCO2.40%Only here
- 10Lam Research LRCX2.33%Only here
Ten largest total 64.5%
Shared by both · 5 companies
| Company | QQQM weight | XLK weight | Gap |
|---|---|---|---|
| NVIDIA NVDA | 8.36% | 15.47% | -7.11 pts |
| Apple AAPL | 7.38% | 13.61% | -6.23 pts |
| Microsoft MSFT | 5.78% | 10.66% | -4.88 pts |
| Micron Technology MU | 5.04% | 4.47% | +0.57 pts |
| Advanced Micro Devices AMD | 4.19% | 5.06% | -0.87 pts |
Only in QQQM’s top ten: Alphabet (all classes), Amazon, Meta Platforms, Tesla, Space Exploration Technologies. Only in XLK’s top ten: Broadcom, Intel, Palantir Technologies, Cisco Systems, Lam Research.
The twist
5 of the same stocks sit in both top-ten lists, and the sector mixes overlap by about 68.0% by this page’s arithmetic. Holding both adds little: the biggest positions are the same companies, so you are mostly repeating the same exposure.
QQQM vs XLK, one goal, which fund?
QQQM vs XLK, where the money goes
QQQM · Invesco, Sep 30, 2026
XLK · State Street, Sep 30, 2026
QQQM vs XLK returns, different periods, different winners
Calendar-year returns: NAV total return (Invesco) for QQQM; total return (third-party, ChartRow) for XLK.
QQQM vs XLK, what each fund costs a year
The data room
Every figure behind the QQQM vs XLK cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
QQQM vs XLK key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | QQQM | XLK | Grade and source |
|---|
Portfolio characteristics
| Metric | QQQM | XLK | Grade and source |
|---|
Net assets are issuer figures on different dates (QQQM $101.7B Nov 9, third-party; XLK $109.6B Nov 6), so they are not matched. Figures that were not available are left out rather than estimated.
QQQM vs XLK holdings and top ten
Click a tile · QQQM: Invesco, Sep 30, 2026 · XLK: State Street, Sep 30, 2026Tile area is proportional to weight.
| # | Holding | Weight |
|---|
| # | Holding | Weight |
|---|
Top ten sums: QQQM 49.6% · XLK 64.5%. 5 shared top-ten stocks. Weights change.
QQQM vs XLK sector exposure
QQQM: Sep 30, 2026 · XLK: Sep 30, 2026The sector mirror
Same funds, different lenses
Company size
Both hold large companies. QQQM holds 102 stocks and XLK holds 76.
What you actually own
QQQM vs XLK performance
Issuer figures, both to Sep 30, 2026Average annual returns from issuer pages and fact sheets (both to Sep 30, 2026). “Since inception” starts in different years for each fund (QQQM 2020, XLK 1998), so those columns are not like for like. Past performance does not guarantee future results.
Growth of a hypothetical $10,000 · NAV total return, both to Sep 30, 2026
Both funds derived from the issuers’ annualized NAV returns (compounded). Distributions reinvested, fund expenses deducted. Illustration, not a forecast.
QQQM vs XLK dividends and dividend growth
Latest eight payouts each| QQQM ex-date | Payable | $ / share | XLK ex-date | Payable | $ / share |
|---|
Quarterly payouts per share, newest first
| Quarter | QQQM vs same quarter a year earlier | XLK vs same quarter a year earlier |
|---|
Single payouts are noisy; a four-quarter comparison is steadier. Computed from the distribution tables above.
| Measure | QQQM | XLK |
|---|---|---|
| 30-day SEC yield | 0.43% (Sep 30) | 0.49% (Nov 6) |
| Trailing 12-month | 0.47% (Nov 9) | 0.51% fund distribution yield (Nov 6) |
| Last four payouts | $1.316 per share | $0.835 per share |
| Frequency | Quarterly | Quarterly |
Per-share payouts differ because share prices differ, so compare yields rather than dollars. Payouts shown: QQQM 8, XLK 8. See what is dividend yield and yield vs total return.
QQQM vs XLK concentration and overlap
Ten largest positions · shared holdingsRank by rank, the ten largest positions of each fund. Top five: QQQM 32.5%, XLK 49.5%. Top ten: QQQM 49.6%, XLK 64.5%.
QQQM vs XLK trading and liquidity
Issuer and fund pages · Sep 30 to Nov 6, 2026Large funds like these usually trade with small spreads, but check the live spread before you trade. A spread of 0.01% is about $10 between the buy and sell price on $100,000. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.
QQQM vs XLK fees in dollars
As stated by each issuer| Balance | QQQM (0.15%) | XLK (0.08%) | Gap per year |
|---|---|---|---|
| $10,000 | $15 | $8 | $7 |
| $50,000 | $75 | $40 | $35 |
| $100,000 | $150 | $80 | $70 |
Expense ratio is taken from fund assets, not billed. It excludes the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes. XLK’s 0.08% is the gross ratio shown on the State Street fact sheet.
QQQM vs XLK, how each fund picks its stocks
Index approach, in plain languageQQQM · Nasdaq-100 Index
QQQM tracks the Nasdaq-100 Index. QQQM holds about 102 stocks and was launched in 2020; the ten largest positions total 49.6%. Index rules and rebalance dates are in the fund’s prospectus.
XLK · Technology Select Sector Index
XLK tracks the Technology Select Sector Index. XLK holds about 76 stocks and was launched in 1998; the ten largest positions total 64.5%. Index rules and rebalance dates are in the fund’s prospectus.
Exact eligibility rules, caps and rebalance dates sit in each prospectus and index methodology; read them before relying on this summary.
QQQM vs XLK, why yield and returns differ
Sector mix explains much of the gapQQQM follows the Nasdaq-100, an index of about one hundred of the largest non-financial companies on the Nasdaq. XLK follows a different index, so it holds a different mix of companies and weights them differently. The largest names overlap, but the Nasdaq-100 usually carries a larger share in a few technology and internet leaders, while a broader growth fund spreads weight across more sectors. Over any window the results can diverge in either direction, and the gap comes mostly from what each fund holds, not from fees.
How to decide between QQQM and XLK
A step-by-step frameworkStart with what separates them: Cost separates them: QQQM charges 0.15% and XLK charges 0.08%. Then check what you already own: 5 top-ten stocks are shared, so holding both adds little.
- Step 1 · Cost: QQQM 0.15% vs XLK 0.08%.
- Step 2 · Concentration: ten largest positions 49.6% vs 64.5%.
- Step 3 · Sector: technology is 68.0% of QQQM and 100.0% of XLK.
- Step 4 · Overlap: use the Diversification Calculator against what you own.
Most investors would pick one rather than both. For a comparison with the S&P 500, see VOO vs QQQ. Size the position against your whole portfolio.
QQQM vs XLK for Canadian investors
Currency, withholding tax and account typeQQQM and XLK are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on both entry and exit. Currency moves also change your return in Canadian dollars even if the funds are flat in U.S. dollars.
U.S. dividends paid to Canadian residents can be subject to U.S. withholding tax, generally 15% under the Canada-U.S. tax treaty. An RRSP is generally exempt from that withholding on U.S. dividends, while a TFSA is not; in a taxable account the withheld amount may be claimable through the foreign tax credit. Both funds have low yields, so the withholding in dollar terms is small on a given balance.
Confirm the rules for your account with a tax professional. This is general education, not tax advice.
Risks of QQQM and XLK
What can go wrongShared risks
- Both hold U.S. stocks and can fall with the market. In 2022, the calendar-year NAV return was QQQM -32.5%, XLK -27.7% (issuer figures where captured).
- Both are heavily weighted to a handful of technology and internet companies, so a decline in those names moves both funds.
- Neither holds bonds or international stocks, so neither diversifies across asset classes or countries.
- Growth and technology stocks can fall further than the broad market when interest rates or expectations change.
Fund-specific risks
- QQQM: ten largest positions total 49.6%; technology 68.0% (Sep 30, 2026).
- XLK: ten largest positions total 64.5%; technology 100.0% (Sep 30, 2026).
- Both: exchange-traded structure; see each prospectus for legal form.
- Both: a low yield means little income cushion in a falling market.
QQQM vs XLK taxes and account placement
General education, not tax adviceBoth funds invest in U.S. stocks. Their yields are low, so most of the return is price change, which is taxed when you sell in a taxable account. Check the tax documents of each fund for its capital gains distribution history. U.S. taxpayers may see some dividends taxed at lower qualified rates if holding-period rules are met.
For Canadian account types and withholding tax, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio.
Other ETFs people compare
For context, not recommendationsInvestors comparing QQQM and XLK often also look at the other growth and technology funds in this group: QQQ, QQQM, VUG, SCHG, VGT and XLK. See QQQ vs QQQM, VOO vs QQQ and the other Growth and Tech ETFs comparisons.
QQQM vs XLK drawdown arithmetic
What a decline means in dollarsRecovery gain = decline ÷ (1 − decline). 2022 calendar-year NAV total returns from the issuer figures captured: QQQM -32.5%, XLK -27.7%. Used as a rough guide to a bad year, not a worst-case figure. See the Position Size Calculator.
Tools to compare QQQM vs XLK
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
QQQM vs XLK, which fits which job
Characteristics, not recommendationsQQQM may suit investors who want…
Nasdaq-100 growth with a heavy technology tilt.
Strengths
- More holdings: 102 against 76
- Flatter top ten: 49.6% against 64.5%
- Pays distributions
- Exchange-traded and priced all day
Watch points
- Higher fee: 0.15% against 0.08%
- Led in only 0 of 3 return windows (both to Sep 30, 2026)
- Not a complete portfolio
- Heavy exposure to technology
XLK may suit investors who want…
A pure technology sector exposure.
Strengths
- Lower fee: 0.08% against 0.15%
- Led in 3 of 3 return windows (both to Sep 30, 2026)
- Pays distributions
- Exchange-traded and priced all day
Watch points
- Fewer holdings: 76 against 102
- Heavier top ten: 64.5% against 49.6%
- Not a complete portfolio
- Heavy exposure to technology
QQQM vs XLK investor scenarios
Characteristics that fit, not recommendationsQQQM vs XLK key terms
Plain-language definitionsQQQM vs XLK, frequently asked questions
Answers use the figures and dates shown aboveIs QQQM or XLK better?
In the QQQM vs XLK question, neither is better for everyone. QQQM and XLK differ mainly in what they hold and what they charge. Expense ratios are 0.15% and 0.08%. NAV returns, annualized (both to Sep 30, 2026): 1 year 23.79% vs 39.47%; 3 years 28.11% vs 34.49%; 5 years 16.40% vs 22.14%. Neither is better for everyone; the choice turns on cost, how concentrated in technology you want to be, and what you already own.
QQQM vs XLK, what are the expense ratios?
QQQM charges 0.15% and XLK charges 0.08%, which is $15 and $8 a year per $10,000.
QQQM vs XLK, how much do the funds overlap?
5 stocks appear in both top-ten lists, and the sector mixes overlap by about 68.0% by this page’s own sum.
QQQM vs XLK, what does each ETF track?
QQQM tracks the Nasdaq-100 Index. XLK tracks the Technology Select Sector Index.
QQQM vs XLK, what are the top holdings?
QQQM (Sep 30, 2026): NVIDIA 8.36%, Apple 7.38%, Alphabet (all classes) 5.93%, Microsoft 5.78%, Micron Technology 5.04%. XLK (Sep 30, 2026): NVIDIA 15.47%, Apple 13.61%, Microsoft 10.66%, Advanced Micro Devices 5.06%, Broadcom 4.68%.
QQQM vs XLK, which has performed better?
NAV returns, annualized (both to Sep 30, 2026): 1 year 23.79% vs 39.47%; 3 years 28.11% vs 34.49%; 5 years 16.40% vs 22.14%. Returns depend on what each fund holds, and past performance does not guarantee future results.
QQQM vs XLK, can I own both?
On QQQM vs XLK, you can, but they overlap heavily. 5 top-ten stocks are shared and the sector mixes overlap by about 68.0%. Most investors choose one.
QQQM vs XLK, how often do the funds pay dividends?
On QQQM vs XLK, both funds distribute income, and their yields are low (30-day SEC yield 0.43% for QQQM and 0.49% for XLK). Check each issuer page for the payout schedule.
QQQM vs XLK, are they suitable for Canadian investors?
On QQQM vs XLK, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs and may face U.S. withholding tax on dividends. Treatment differs across TFSA, RRSP and taxable accounts. This is general education, not tax advice.
QQQM vs XLK, how do the funds differ by sector?
QQQM (Sep 30, 2026): information technology 68.0%, consumer discretionary 15.1%, communication 5.9%. XLK (Sep 30, 2026): information technology 100.0%.
QQQM vs XLK documents and sources
Open the issuer documents before relying on any figureQQQM · Invesco
XLK · State Street (SPDR)
Third-party sources
.
Methodology and limits
- QQQM figures come from Invesco fund pages and files; XLK figures come from State Street fund pages and files (see the issuer documents below). Dates are shown beside each figure.
- Some Vanguard figures (VUG and VGT) come from a third-party compilation of Vanguard data and are graded accordingly in the data room.
- Top-ten lists and sector tables are dated as shown; where the two dates differ the page says so.
- Sector overlap is this page’s sum of the smaller sector weight in each fund; sector taxonomies differ between providers, so cross-provider gaps are approximate. Technology funds are treated as 100% information technology.
- Figures that were unavailable are left out, and nothing was filled from memory or from another fund.
- Growth of $10,000 is derived from each issuer’s annualized NAV returns; dollar values are approximate.
Educational research, not personalized investment, tax or legal advice, and not a recommendation to buy or sell any fund. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Calculators are hypothetical illustrations. Fund data are provided as published by the sources named and may differ from current figures.