# QQQ ETF: fees, returns, drawdowns and holdings

> What QQQ holds, its 0.18% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

Invesco QQQ Trust, Series 1 (QQQ) is an exchange-traded fund (ETF) run by Invesco. This fund owns the stocks in the Nasdaq-100, which is 100 of the largest companies listed on the Nasdaq that are not banks or other financial firms. It charges 0.18% a year. From March 1999 to October 2026 it returned about 10.7% a year, and its worst drop was −83.0%.

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

## Key points

- Expense ratio: 0.18% a year (about $18 on $10,000).
- Started trading on March 10, 1999.
- Last close: $709.80 on October 16, 2026.
- Return over the last year: 18.9%.
- Worst drop since 1999: −83.0%.
- 9 Tactfolio classic strategies hold it.

## How has QQQ done since 1999?

From March 1999 to October 2026, QQQ returned about 10.7% a year. The S&P 500 returned about 8.5% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $165,138 at the end, with every dividend reinvested.

| Period | QQQ | S&P 500 (SPY) |
| --- | --- | --- |
| 1 month | 0.8% | 1.5% |
| 3 months | 0.7% | 1.9% |
| 6 months | 11.1% | 9.3% |
| Year to date | 15.9% | 12.8% |
| 1 year | 18.9% | 16.8% |
| 3 years, per year | 25.0% | 22.0% |
| 5 years, per year | 14.7% | 12.8% |
| 10 years, per year | 20.5% | 15.4% |
| Since 1999, per year | 10.7% | 8.5% |

Periods longer than a year show the return per year (CAGR). 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.

## QQQ returns by month and year

QQQ rose in 198 of its 332 months (60%). Its best month was December 1999, at 24.3%. Its worst was February 2001, at −26.2%.

| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Full year |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (part) | 1.2% | −2.3% | −4.8% | 15.7% | 10.6% | −0.1% | −6.6% | 4.2% | 3.3% | −4.0% |  |  | 15.9% |
| 2025 | 2.2% | −2.7% | −7.6% | 1.4% | 9.2% | 6.4% | 2.4% | 0.9% | 5.4% | 4.8% | −1.6% | −0.7% | 20.8% |
| 2024 | 1.8% | 5.3% | 1.3% | −4.4% | 6.2% | 6.5% | −1.7% | 1.1% | 2.6% | −0.9% | 5.3% | 0.4% | 25.6% |
| 2023 | 10.6% | −0.4% | 9.5% | 0.5% | 7.9% | 6.3% | 3.9% | −1.5% | −5.1% | −2.1% | 10.8% | 5.6% | 54.9% |
| 2022 | −8.8% | −4.5% | 4.7% | −13.6% | −1.6% | −8.9% | 12.6% | −5.1% | −10.5% | 4.0% | 5.5% | −9.0% | −32.6% |
| 2021 | 0.3% | −0.1% | 1.7% | 5.9% | −1.2% | 6.3% | 2.9% | 4.2% | −5.7% | 7.9% | 2.0% | 1.1% | 27.4% |
| 2020 | 3.0% | −6.1% | −7.3% | 15.0% | 6.6% | 6.3% | 7.3% | 10.9% | −5.8% | −3.0% | 11.2% | 4.9% | 48.4% |
| 2019 | 9.0% | 3.0% | 3.9% | 5.5% | −8.2% | 7.6% | 2.3% | −1.9% | 0.9% | 4.4% | 4.1% | 3.9% | 39.0% |
| 2018 | 8.8% | −1.3% | −4.1% | 0.5% | 5.7% | 1.1% | 2.8% | 5.8% | −0.3% | −8.6% | −0.3% | −8.7% | −0.1% |
| 2017 | 5.1% | 4.4% | 2.0% | 2.7% | 3.9% | −2.3% | 4.1% | 2.1% | −0.3% | 4.6% | 2.0% | 0.6% | 32.7% |
| 2016 | −6.9% | −1.6% | 6.9% | −3.2% | 4.4% | −2.3% | 7.1% | 1.1% | 2.2% | −1.5% | 0.4% | 1.1% | 7.1% |
| 2015 | −2.1% | 7.2% | −2.4% | 1.9% | 2.3% | −2.5% | 4.6% | −6.8% | −2.2% | 11.4% | 0.6% | −1.6% | 9.4% |
| 2014 | −1.9% | 5.1% | −2.7% | −0.3% | 4.5% | 3.1% | 1.2% | 5.0% | −0.8% | 2.6% | 4.5% | −2.2% | 19.2% |
| 2013 | 2.7% | 0.3% | 3.0% | 2.5% | 3.6% | −2.4% | 6.3% | −0.4% | 4.8% | 5.0% | 3.5% | 2.9% | 36.6% |
| 2012 | 8.4% | 6.4% | 5.1% | −1.2% | −7.0% | 3.6% | 1.0% | 5.2% | 0.9% | −5.3% | 1.3% | −0.5% | 18.1% |
| 2011 | 2.8% | 3.2% | −0.4% | 2.9% | −1.2% | −2.0% | 1.7% | −5.1% | −4.5% | 10.4% | −2.7% | −0.6% | 3.5% |
| 2010 | −6.5% | 4.6% | 7.7% | 2.2% | −7.4% | −6.0% | 7.3% | −5.1% | 13.2% | 6.3% | −0.2% | 4.8% | 20.1% |
| 2009 | −2.3% | −5.3% | 10.3% | 13.1% | 3.2% | 2.9% | 8.4% | 1.5% | 5.7% | −3.0% | 6.3% | 5.2% | 54.7% |
| 2008 | −11.9% | −4.8% | 1.9% | 8.0% | 5.9% | −9.6% | 0.6% | 1.5% | −15.6% | −15.5% | −11.5% | 2.3% | −41.7% |
| 2007 | 2.1% | −1.7% | 0.5% | 5.6% | 3.1% | 0.5% | −0.1% | 2.8% | 5.3% | 7.0% | −6.8% | −0.1% | 19.0% |
| 2006 | 3.9% | −2.1% | 2.1% | −0.2% | −7.2% | −0.1% | −4.3% | 4.8% | 4.6% | 4.8% | 3.4% | −1.9% | 7.1% |
| 2005 | −6.3% | −0.5% | −1.8% | −4.3% | 8.9% | −3.3% | 7.6% | −1.5% | 1.2% | −1.5% | 6.1% | −1.8% | 1.6% |
| 2004 | 1.7% | −1.4% | −2.0% | −3.0% | 5.1% | 3.3% | −7.5% | −2.5% | 3.3% | 5.0% | 6.0% | 3.0% | 10.5% |
| 2003 | 0.3% | 2.9% | 0.4% | 8.7% | 8.5% | 0.5% | 6.2% | 5.0% | −2.9% | 8.5% | 0.6% | 3.1% | 49.7% |
| 2002 | −1.0% | −12.3% | 6.8% | −12.0% | −5.3% | −13.1% | −8.6% | −1.5% | −11.8% | 18.5% | 12.9% | −12.1% | −37.4% |
| 2001 | 10.2% | −26.2% | −17.5% | 17.9% | −3.1% | 2.2% | −8.6% | −12.3% | −20.9% | 17.0% | 17.0% | −1.9% | −33.3% |
| 2000 | −1.8% | 19.0% | 2.6% | −13.5% | −12.3% | 12.4% | −4.3% | 13.6% | −12.7% | −7.9% | −22.9% | −7.3% | −36.1% |
| 1999 (part) |  |  | 2.8% | 2.4% | −3.1% | 10.8% | −1.8% | 5.5% | 0.8% | 9.2% | 11.8% | 24.3% | 79.0% |

Each month runs from the last close of the month before. The first month counts from the first close.

## How risky is QQQ compared with the S&P 500?

Measured from October 2021 to October 2026, on the days both traded.

- **Beta 1.27.** When the S&P 500 moved 1% in a day, QQQ tended to move about 1.27%.
- **Correlation 0.95.** QQQ mostly moved with the S&P 500.
- **Up and down months.** In months the S&P 500 rose, QQQ rose 113% as much on average. In months it fell, QQQ fell 109% as much.

| Measure | QQQ | S&P 500 (SPY) |
| --- | --- | --- |
| Return per year | 14.4% | 12.8% |
| Volatility | 23.0% | 17.1% |
| Worst drop | −35.1% | −24.5% |
| Sharpe ratio | 0.70 | 0.79 |
| Sortino ratio | 1.02 | 1.15 |
| Calmar ratio | 0.41 | 0.52 |

Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.

## Is QQQ above its 200-day average?

QQQ closed 5.4% above its 200-day average on October 16, 2026. A rule that holds QQQ only above that average would hold it today.

- Its 50-day average is 7.8% above its 200-day average.
- It closed 6.6% below its highest close of the last 52 weeks.

A moving average is the average close over the last so many days. Trend rules such as [the 10-month moving average strategy](https://tactfolio.com/strategies/faber-10-month-moving-average.md) hold a fund only while it is above one. You can [build that rule for QQQ](https://tactfolio.com/builder) and backtest it in a minute.

## What was QQQ's worst drop?

A drawdown is how far a fund falls from its last high point. QQQ's worst fall was −83.0%, from March 27, 2000 to October 9, 2002. It got back to that high on February 20, 2015. On October 16, 2026 it was 6.6% below its highest close.

| Drop | Started | Bottom | Back to the high | Fall took | Recovery took |
| --- | --- | --- | --- | --- | --- |
| −83.0% | Mar 27, 2000 | Oct 9, 2002 | Feb 20, 2015 | 2.5 years | 12.4 years |
| −35.1% | Dec 27, 2021 | Nov 3, 2022 | Dec 13, 2023 | 10 months | 13 months |
| −28.6% | Feb 19, 2020 | Mar 16, 2020 | Jun 3, 2020 | 26 days | 3 months |
| −22.8% | Aug 29, 2018 | Dec 24, 2018 | Apr 12, 2019 | 4 months | 4 months |
| −22.8% | Feb 19, 2025 | Apr 8, 2025 | Jun 24, 2025 | 2 months | 3 months |

Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## What does QQQ hold?

This fund owns the stocks in the Nasdaq-100, which is 100 of the largest companies listed on the Nasdaq that are not banks or other financial firms. Many of them are big technology companies. Its value goes up and down with those stocks.

It tracks the Nasdaq-100 Index.

| Fact | QQQ |
| --- | --- |
| Full name | Invesco QQQ Trust, Series 1 |
| Issuer | Invesco |
| Expense ratio | 0.18% a year |
| Started trading | March 10, 1999 |
| Tracks | Nasdaq-100 Index |
| Type | US stocks, ETF |
| Facts checked | October 16, 2026 on the [Invesco fund page](https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&ticker=QQQ) |

## What is the QQQ expense ratio?

QQQ charges 0.18% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.18% fee comes to about $18 a year. Of the 162 ETFs on Tactfolio, 34% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## Which Tactfolio strategies hold QQQ?

9 classic strategies hold QQQ at least some of the time. Each is a set of written rules you can open, test and copy.

- [Bold Asset Allocation (BAA)](https://tactfolio.com/strategies/bold-asset-allocation.md), by Wouter Keller, 2022
- [Defensive Asset Allocation (DAA)](https://tactfolio.com/strategies/defensive-asset-allocation.md), by Wouter Keller and JW Keuning, 2018
- [Protective Asset Allocation (PAA)](https://tactfolio.com/strategies/protective-asset-allocation.md), by Wouter Keller and JW Keuning, 2016
- [Vigilant Asset Allocation G12 (VAA-G12)](https://tactfolio.com/strategies/vigilant-asset-allocation-g12.md), by Wouter Keller and JW Keuning, 2017
- [Bold Asset Allocation G4 (BAA aggressive)](https://tactfolio.com/strategies/bold-asset-allocation-g4.md), by Wouter Keller, 2022
- [Quint Switching Filtered (Lewis Glenn’s QSF)](https://tactfolio.com/strategies/quint-switching-filtered.md), by Lewis A. Glenn, 2018
- [Lethargic Asset Allocation (Keller’s LAA)](https://tactfolio.com/strategies/lethargic-asset-allocation.md), by Wouter J. Keller, 2019
- [Resilient Asset Allocation (Keller’s RAA)](https://tactfolio.com/strategies/resilient-asset-allocation.md), by Wouter J. Keller, 2020
- [Pragmatic Asset Allocation (Quantpedia’s PAA)](https://tactfolio.com/strategies/pragmatic-asset-allocation.md), by Radovan Vojtko and Juliána Javorská (Quantpedia), 2024

## How does QQQ compare with similar ETFs?

Side-by-side pages measure both funds over the same dates:

- [QQQ vs VOO](https://tactfolio.com/etf-comparisons/QQQ-vs-VOO.md): the Nasdaq-100 against the S&P 500.
- [QQQ vs SPY](https://tactfolio.com/etf-comparisons/QQQ-vs-SPY.md): the Nasdaq-100 against the S&P 500, from the two oldest big index ETFs.
- [QQQ vs QQQM](https://tactfolio.com/etf-comparisons/QQQ-vs-QQQM.md): the same Nasdaq-100 index in two Invesco funds with different fees.
- [QQQ vs VGT](https://tactfolio.com/etf-comparisons/QQQ-vs-VGT.md): the Nasdaq-100 against a pure technology fund.
- [QQQ vs TQQQ](https://tactfolio.com/etf-comparisons/QQQ-vs-TQQQ.md): the Nasdaq-100 against a fund that aims for 3 times its daily move.

Funds that can stand in for QQQ:

- [QQQM](https://tactfolio.com/etf/QQQM.md): Invesco NASDAQ 100 ETF, 0.15% a year
- [ONEQ](https://tactfolio.com/etf/ONEQ.md): Fidelity Nasdaq Composite Index ETF, 0.21% a year
- [QQEW](https://tactfolio.com/etf/QQEW.md): First Trust Nasdaq-100 Select Equal Weight ETF, 0.55% a year
- [XLK](https://tactfolio.com/etf/XLK.md): State Street Technology Select Sector SPDR ETF, 0.08% a year

See [all 8 QQQ alternatives](https://tactfolio.com/alternatives/QQQ.md), compared on the same dates as QQQ.

## Test QQQ in your own rules

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 QQQ, and see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for QQQ and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from Invesco. We checked them on October 16, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.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 is the expense ratio of QQQ?

QQQ charges 0.18% a year, according to Invesco as of October 16, 2026. That is about $18 a year for every $10,000 you hold.

### When did QQQ start trading?

QQQ started trading on March 10, 1999. It is run by Invesco.

### What does QQQ track?

QQQ tracks the Nasdaq-100 Index. This fund owns the stocks in the Nasdaq-100, which is 100 of the largest companies listed on the Nasdaq that are not banks or other financial firms.

### How much has QQQ returned per year?

From March 1999 to October 2026, QQQ returned about 10.7% a year with dividends reinvested. Its worst drop was −83.0%. Past returns do not tell you what it will do next.

### Is QQQ above its 200-day moving average?

On October 16, 2026, QQQ closed 5.4% above its 200-day moving average. This page updates after each US market close.

### Which strategies use QQQ?

9 of Tactfolio's classic strategies hold QQQ, including Bold Asset Allocation (BAA), Defensive Asset Allocation (DAA), Protective Asset Allocation (PAA).

## Sources

- [Invesco: Invesco QQQ Trust, Series 1 fund page](https://www.invesco.com/us/financial-products/etfs/product-detail?audienceType=Investor&ticker=QQQ)

> 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.