ONEQ alternatives and similar ETFs

The ETFs most like ONEQ are QQQM, QQQ and QQEW. QQQM, QQQ and QQEW hold the 100 biggest companies on the Nasdaq outside finance, many of them in technology, like ONEQ. QQQM costs less: 0.15% a year against 0.21%.

Written by the Tactfolio research team. Fund facts checked October 17, 2026. Prices through October 16, 2026.

Key points

  • 8 funds can stand in for ONEQ: 3 of the same kind and 5 related funds.
  • ONEQ charges 0.21% a year (about $21 on $10,000). The cheapest alternative here, VUG, charges 0.03%.
  • QQQM moved most like ONEQ: a daily correlation of 0.99 over about the last five years.
  • Returns and drops for each pair use the same dates for both funds.

ONEQ alternatives at a glance#

Each fund below can stand in for ONEQ, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

ETFHow closeYearly feeFee on $10,000Tracks
ONEQThis fund0.21%$21Nasdaq Composite Index
QQQMSame kind of fund0.15%$15Nasdaq-100 Index
QQQSame kind of fund0.18%$18Nasdaq-100 Index
QQEWSame kind of fund0.55%$55Nasdaq-100 Select Equal Weight Index
VUGRelated fund0.03%$3Morningstar US Large Cap Growth Index
IYWRelated fund0.37%$37Russell 1000 Technology RIC 22.5/45 Capped Index
FTECRelated fund0.084%$8.40MSCI USA IMI Information Technology 25/50 Index
VGTRelated fund0.09%$9MSCI US Investable Market Information Technology 25/50 Index
XLKRelated fund0.08%$8Technology Select Sector Index

Fees come from each fund company, checked on the dates shown on each fund’s page.

How ONEQ and its alternatives did over the same dates#

$10k$20k202120222023202420252026
ONEQQQQMQQQQQEWGrowth of $10,000, log scale, with dividends reinvested. Past results do not tell you what happens next.

Each row measures the alternative and ONEQ on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

ETFMoves with ONEQPer yearONEQ per yearWorst dropONEQ worst dropSince
QQQM0.9916.5%15.1%−35.0%−35.2%October 2020
QQQ0.9915.1%13.2%−53.4%−55.1%October 2003
QQEW0.9311.2%13.6%−58.2%−55.1%May 2006
VUG0.9912.1%12.8%−50.7%−55.1%January 2004
IYW0.9815.3%13.2%−54.9%−55.1%October 2003
FTEC0.9721.7%16.8%−34.9%−35.2%October 2013
VGT0.9714.8%12.8%−54.6%−55.1%January 2004
XLK0.9515.3%13.2%−53.0%−55.1%October 2003

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each ONEQ alternative, compared#

QQQM: Invesco NASDAQ 100 ETF#

QQQM also holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology. It tracks the Nasdaq-100 Index, while ONEQ tracks the Nasdaq Composite Index.

It charges 0.15% a year, about $15 on $10,000, against $21 for ONEQ.

From October 2020 to October 2026, QQQM returned about 16.5% a year and ONEQ returned about 15.1% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the QQQM fund page for its returns by year and worst drop.

QQQ: Invesco QQQ Trust, Series 1#

QQQ also holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology. It tracks the Nasdaq-100 Index, while ONEQ tracks the Nasdaq Composite Index.

It charges 0.18% a year, about $18 on $10,000, against $21 for ONEQ.

From October 2003 to October 2026, QQQ returned about 15.1% a year and ONEQ returned about 13.2% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the QQQ fund page for its returns by year and worst drop.

QQEW: First Trust Nasdaq-100 Select Equal Weight ETF#

QQEW also holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology. It tracks the Nasdaq-100 Select Equal Weight Index, while ONEQ tracks the Nasdaq Composite Index.

It charges 0.55% a year, about $55 on $10,000, against $21 for ONEQ. It held 50 stocks, against 1,032 for ONEQ.

From May 2006 to October 2026, QQEW returned about 11.2% a year and ONEQ returned about 13.6% a year. Over about the last five years they moved together on most days (correlation 0.93).

Read the QQEW fund page for its returns by year and worst drop.

VUG: Vanguard Morningstar Growth ETF#

VUG is a looser match. It holds large US companies whose sales and profits are growing fast, while ONEQ holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology.

It charges 0.03% a year, about $3 on $10,000, against $21 for ONEQ. It held 135 stocks, against 1,032 for ONEQ.

From January 2004 to October 2026, VUG returned about 12.1% a year and ONEQ returned about 12.8% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

Read the VUG fund page for its returns by year and worst drop.

IYW: iShares U.S. Technology ETF#

IYW is a looser match. It holds US technology companies, such as makers of chips, software and computers, while ONEQ holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology.

It charges 0.37% a year, about $37 on $10,000, against $21 for ONEQ. It held 148 stocks, against 1,032 for ONEQ.

From October 2003 to October 2026, IYW returned about 15.3% a year and ONEQ returned about 13.2% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the IYW fund page for its returns by year and worst drop.

FTEC: Fidelity MSCI Information Technology Index ETF#

FTEC is a looser match. It holds US technology companies, such as makers of chips, software and computers, while ONEQ holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology.

It charges 0.084% a year, about $8.40 on $10,000, against $21 for ONEQ. It held 282 stocks, against 1,032 for ONEQ.

From October 2013 to October 2026, FTEC returned about 21.7% a year and ONEQ returned about 16.8% a year. Over about the last five years they moved almost exactly together (correlation 0.97).

Read the FTEC fund page for its returns by year and worst drop.

VGT: Vanguard Information Technology ETF#

VGT is a looser match. It holds US technology companies, such as makers of chips, software and computers, while ONEQ holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology.

It charges 0.09% a year, about $9 on $10,000, against $21 for ONEQ. It held 318 stocks, against 1,032 for ONEQ.

From January 2004 to October 2026, VGT returned about 14.8% a year and ONEQ returned about 12.8% a year. Over about the last five years they moved almost exactly together (correlation 0.97).

Read the VGT fund page for its returns by year and worst drop.

XLK: State Street Technology Select Sector SPDR ETF#

XLK is a looser match. It holds US technology companies, such as makers of chips, software and computers, while ONEQ holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology.

It charges 0.08% a year, about $8 on $10,000, against $21 for ONEQ. It held 75 stocks, against 1,032 for ONEQ.

From October 2003 to October 2026, XLK returned about 15.3% a year and ONEQ returned about 13.2% a year. Over about the last five years they moved almost exactly together (correlation 0.95).

Read the XLK fund page for its returns by year and worst drop.

ONEQ versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to ONEQ from each other company on this page:

  • Invesco: QQQM, Invesco NASDAQ 100 ETF (same kind of fund, 0.15% a year)
  • First Trust: QQEW, First Trust Nasdaq-100 Select Equal Weight ETF (same kind of fund, 0.55% a year)
  • Vanguard: VUG, Vanguard Morningstar Growth ETF (related fund, 0.03% a year)
  • iShares (BlackRock): IYW, iShares U.S. Technology ETF (related fund, 0.37% a year)
  • SPDR (State Street): XLK, State Street Technology Select Sector SPDR ETF (related fund, 0.08% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between ONEQ and its alternatives#

  • What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
  • The fee. The difference is often small. On $10,000, ONEQ costs about $21 a year. VUG costs about $3.
  • History. An older fund has been through more bad markets, so you can see how far it fell.
  • What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping ONEQ to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as QQQM, QQQ or QQEW, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test ONEQ and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add ONEQ and QQQM, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as ONEQ. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like ONEQ over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with ONEQ only on days both traded. Read what a backtest simulates for more on these measures.

Research and test it

Common questions#

What ETF is most similar to ONEQ?#

QQQM is the closest. QQQM also holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology. It tracks the Nasdaq-100 Index, while ONEQ tracks the Nasdaq Composite Index. Over about the last five years they moved almost exactly together.

Is there a cheaper alternative to ONEQ?#

Yes. VUG charges 0.03% a year, XLK charges 0.08% a year and FTEC charges 0.084% a year, against 0.21% for ONEQ. On $10,000 that is about $3 a year instead of $21.

Is ONEQ or QQQM better?#

Neither is better for everyone. From October 2020 to October 2026, ONEQ returned about 15.1% a year and QQQM returned about 16.5% a year. ONEQ charges 0.21% a year and QQQM charges 0.15%. Past returns do not tell you what comes next.

What if I had put $10,000 in ONEQ 10 years ago?#

It would have grown to about $54,969 by October 16, 2026, with dividends reinvested. That is about 18.6% a year. Past returns do not tell you what comes next.

Sources#