QQQ alternatives and similar ETFs

QQQ alternatives at a glance#

Each fund below can stand in for QQQ, closest first. “Same index” funds hold the same stocks as QQQ. “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.

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

How QQQ and its alternatives did over the same dates#

Each row measures the alternative and QQQ 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.

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 QQQ alternative, compared#

QQQM: Invesco NASDAQ 100 ETF#

QQQM tracks the same Nasdaq-100 Index as QQQ, so the two hold the same stocks. The main differences are the fee and the fund company.

It charges 0.15% a year, about $15 on $10,000, against $18 for QQQ.

From October 2020 to October 2026, QQQM returned about 16.5% a year and QQQ returned about 16.4% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read QQQ vs QQQM for the full side-by-side, or the QQQM fund page.

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 QQQ tracks the Nasdaq-100 Index.

It charges 0.21% a year, about $21 on $10,000, against $18 for QQQ.

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

Read the ONEQ 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 QQQ tracks the Nasdaq-100 Index.

It charges 0.55% a year, about $55 on $10,000, against $18 for QQQ.

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

Read the QQEW 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 QQQ 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 $18 for QQQ.

From May 2000 to October 2026, IYW returned about 9.4% a year and QQQ returned about 9.2% 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.

VUG: Vanguard Morningstar Growth ETF#

VUG is a looser match. It holds large US companies whose sales and profits are growing fast, while QQQ 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 $18 for QQQ.

From January 2004 to October 2026, VUG returned about 12.1% a year and QQQ returned about 14.8% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the VUG 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 QQQ 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 $18 for QQQ.

From March 1999 to October 2026, XLK returned about 10.0% a year and QQQ returned about 10.7% a year. Over about the last five years they moved almost exactly together (correlation 0.97).

Read the XLK 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 QQQ 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 $18 for QQQ.

From October 2013 to October 2026, FTEC returned about 21.7% a year and QQQ returned about 19.0% 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 QQQ 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 $18 for QQQ.

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

Read QQQ vs VGT for the full side-by-side, or the VGT fund page.

QQQ versions from other fund companies#

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

• Fidelity: ONEQ, Fidelity Nasdaq Composite Index ETF (same kind of fund, 0.21% a year)
• First Trust: QQEW, First Trust Nasdaq-100 Select Equal Weight ETF (same kind of fund, 0.55% a year)
• iShares (BlackRock): IYW, iShares U.S. Technology ETF (related fund, 0.37% a year)
• Vanguard: VUG, Vanguard Morningstar Growth ETF (related fund, 0.03% 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 QQQ 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, QQQ costs about $18 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 QQQ 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 ONEQ, QQEW or IYW, are less likely to.

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

Test QQQ 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 QQQ 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 QQQ. 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 QQQ 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 QQQ only on days both traded. Read what a backtest simulates for more on these measures.