# QQEW alternatives: 8 similar ETFs compared

> ETFs similar to QQEW, closest first, with each fund's fee, what it tracks, and returns and worst drops on the same dates as QQEW. Updated daily.

The ETFs most like QQEW are QQQM, QQQ and ONEQ. QQQM, QQQ and ONEQ hold the 100 biggest companies on the Nasdaq outside finance, many of them in technology, like QQEW. QQQM costs less: 0.15% a year against 0.55%.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026.

## Key points

- 8 funds can stand in for QQEW: 3 of the same kind and 5 related funds.
- QQEW charges 0.55% a year (about $55 on $10,000). The cheapest alternative here, VUG, charges 0.03%.
- QQQM moved most like QQEW: a daily correlation of 0.94 over about the last five years.
- Returns and drops for each pair use the same dates for both funds.

## QQEW alternatives at a glance

Each fund below can stand in for QQEW, 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.

| ETF | How close | Yearly fee | Fee on $10,000 | Tracks |
| --- | --- | --- | --- | --- |
| **QQEW** | This fund | 0.55% | $55 | Nasdaq-100 Select Equal Weight Index |
| [QQQM](https://tactfolio.com/etf/qqqm.md) | Same kind of fund | 0.15% | $15 | Nasdaq-100 Index |
| [QQQ](https://tactfolio.com/etf/qqq.md) | Same kind of fund | 0.18% | $18 | Nasdaq-100 Index |
| [ONEQ](https://tactfolio.com/etf/oneq.md) | Same kind of fund | 0.21% | $21 | Nasdaq Composite Index |
| [VUG](https://tactfolio.com/etf/vug.md) | Related fund | 0.03% | $3 | Morningstar US Large Cap Growth Index |
| [FTEC](https://tactfolio.com/etf/ftec.md) | Related fund | 0.084% | $8.40 | MSCI USA IMI Information Technology 25/50 Index |
| [VGT](https://tactfolio.com/etf/vgt.md) | Related fund | 0.09% | $9 | MSCI US Investable Market Information Technology 25/50 Index |
| [IYW](https://tactfolio.com/etf/iyw.md) | Related fund | 0.37% | $37 | Russell 1000 Technology RIC 22.5/45 Capped Index |
| [XLK](https://tactfolio.com/etf/xlk.md) | Related fund | 0.08% | $8 | Technology Select Sector Index |

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

## How QQEW and its alternatives did over the same dates

Each row measures the alternative and QQEW 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.

| ETF | Moves with QQEW | Per year | QQEW per year | Worst drop | QQEW worst drop | Since |
| --- | --- | --- | --- | --- | --- | --- |
| [QQQM](https://tactfolio.com/etf/qqqm.md) | 0.94 | 16.5% | 9.6% | −35.0% | −32.1% | October 2020 |
| [QQQ](https://tactfolio.com/etf/qqq.md) | 0.94 | 15.8% | 11.2% | −53.4% | −58.2% | May 2006 |
| [ONEQ](https://tactfolio.com/etf/oneq.md) | 0.93 | 13.6% | 11.2% | −55.1% | −58.2% | May 2006 |
| [VUG](https://tactfolio.com/etf/vug.md) | 0.93 | 12.8% | 11.2% | −50.7% | −58.2% | May 2006 |
| [FTEC](https://tactfolio.com/etf/ftec.md) | 0.91 | 21.7% | 12.9% | −34.9% | −32.1% | October 2013 |
| [VGT](https://tactfolio.com/etf/vgt.md) | 0.91 | 16.4% | 11.2% | −54.6% | −58.2% | May 2006 |
| [IYW](https://tactfolio.com/etf/iyw.md) | 0.91 | 16.4% | 11.2% | −54.9% | −58.2% | May 2006 |
| [XLK](https://tactfolio.com/etf/xlk.md) | 0.90 | 16.3% | 11.2% | −53.0% | −58.2% | May 2006 |

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 QQEW 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 QQEW tracks the Nasdaq-100 Select Equal Weight Index.

It charges 0.15% a year, about $15 on $10,000, against $55 for QQEW.

From October 2020 to October 2026, QQQM returned about 16.5% a year and QQEW returned about 9.6% a year. Over about the last five years they moved together on most days (correlation 0.94).

Read the [QQQM fund page](https://tactfolio.com/etf/qqqm.md) 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 QQEW tracks the Nasdaq-100 Select Equal Weight Index.

It charges 0.18% a year, about $18 on $10,000, against $55 for QQEW.

From May 2006 to October 2026, QQQ returned about 15.8% a year and QQEW returned about 11.2% a year. Over about the last five years they moved together on most days (correlation 0.94).

Read the [QQQ fund page](https://tactfolio.com/etf/qqq.md) for its returns by year and worst drop.

### ONEQ: Fidelity Nasdaq Composite Index ETF

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

It charges 0.21% a year, about $21 on $10,000, against $55 for QQEW. It held 1,032 stocks, against 50 for QQEW.

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

Read the [ONEQ fund page](https://tactfolio.com/etf/oneq.md) 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 QQEW 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 $55 for QQEW. It held 135 stocks, against 50 for QQEW.

From May 2006 to October 2026, VUG returned about 12.8% a year and QQEW returned about 11.2% a year. Over about the last five years they moved together on most days (correlation 0.93).

Read the [VUG fund page](https://tactfolio.com/etf/vug.md) 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 QQEW 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 $55 for QQEW. It held 282 stocks, against 50 for QQEW.

From October 2013 to October 2026, FTEC returned about 21.7% a year and QQEW returned about 12.9% a year. Over about the last five years they moved together on most days (correlation 0.91).

Read the [FTEC fund page](https://tactfolio.com/etf/ftec.md) 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 QQEW 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 $55 for QQEW. It held 318 stocks, against 50 for QQEW.

From May 2006 to October 2026, VGT returned about 16.4% a year and QQEW returned about 11.2% a year. Over about the last five years they moved together on most days (correlation 0.91).

Read the [VGT fund page](https://tactfolio.com/etf/vgt.md) 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 QQEW 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 $55 for QQEW. It held 148 stocks, against 50 for QQEW.

From May 2006 to October 2026, IYW returned about 16.4% a year and QQEW returned about 11.2% a year. Over about the last five years they moved together on most days (correlation 0.91).

Read the [IYW fund page](https://tactfolio.com/etf/iyw.md) 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 QQEW 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 $55 for QQEW. It held 75 stocks, against 50 for QQEW.

From May 2006 to October 2026, XLK returned about 16.3% a year and QQEW returned about 11.2% a year. Over about the last five years they moved together on most days (correlation 0.90).

Read the [XLK fund page](https://tactfolio.com/etf/xlk.md) for its returns by year and worst drop.

## QQEW versions from other fund companies

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

- **Invesco:** [QQQM](https://tactfolio.com/etf/qqqm.md), Invesco NASDAQ 100 ETF (same kind of fund, 0.15% a year)
- **Fidelity:** [ONEQ](https://tactfolio.com/etf/oneq.md), Fidelity Nasdaq Composite Index ETF (same kind of fund, 0.21% a year)
- **Vanguard:** [VUG](https://tactfolio.com/etf/vug.md), Vanguard Morningstar Growth ETF (related fund, 0.03% a year)
- **iShares (BlackRock):** [IYW](https://tactfolio.com/etf/iyw.md), iShares U.S. Technology ETF (related fund, 0.37% a year)
- **SPDR (State Street):** [XLK](https://tactfolio.com/etf/xlk.md), 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 QQEW 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, QQEW costs about $55 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 QQEW 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 ONEQ, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in [Publication 550](https://www.irs.gov/publications/p550).

## Test QQEW 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](https://tactfolio.com/builder), add QQEW 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 QQEW. 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 QQEW 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 QQEW only on days both traded. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures.

## Research and test it

- [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before.
- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What ETF is most similar to QQEW?

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 QQEW tracks the Nasdaq-100 Select Equal Weight Index. Over about the last five years they moved together on most days.

### Is there a cheaper alternative to QQEW?

Yes. VUG charges 0.03% a year, XLK charges 0.08% a year and FTEC charges 0.084% a year, against 0.55% for QQEW. On $10,000 that is about $3 a year instead of $55.

### Is QQEW or QQQM better?

Neither is better for everyone. From October 2020 to October 2026, QQEW returned about 9.6% a year and QQQM returned about 16.5% a year. QQEW charges 0.55% a year and QQQM charges 0.15%. Past returns do not tell you what comes next.

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

It would have grown to about $36,363 by October 16, 2026, with dividends reinvested. That is about 13.8% a year. Past returns do not tell you what comes next.

## Sources

- [First Trust: First Trust Nasdaq-100 Select Equal Weight ETF fund page](https://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=QQEW)
- [Invesco: Invesco NASDAQ 100 ETF fund page](https://www.sec.gov/Archives/edgar/data/1378872/000119312525325643/d54028d497k.htm)
- [Invesco: Invesco QQQ Trust, Series 1 fund page](https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&ticker=QQQ)
- [Fidelity: Fidelity Nasdaq Composite Index ETF fund page](https://institutional.fidelity.com/app/proxy/content?literatureURL=%2F9871761.PDF)
- [Vanguard: Vanguard Morningstar Growth ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vug)
- [Fidelity: Fidelity MSCI Information Technology Index ETF fund page](https://www.sec.gov/Archives/edgar/data/945908/000094590825000729/filing10088.htm)
- [Vanguard: Vanguard Information Technology ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vgt)
- [iShares (BlackRock): iShares U.S. Technology ETF fund page](https://www.ishares.com/us/products/239522/ishares-u-s-technology-etf)
- [SPDR (State Street): State Street Technology Select Sector SPDR ETF fund page](https://www.ssga.com/us/en/intermediary/etfs/state-street-technology-select-sector-spdr-etf-xlk)
- [IRS Publication 550: wash sales](https://www.irs.gov/publications/p550)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.