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Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that seeks to track the performance of the NASDAQ-100 Index, which consists of the largest non-financial companies listed on the Nasdaq stock exchange. The ETF is managed by Invesco and trades under the ticker QQQM.
Classified as a U.S. large-cap equity ETF, QQQM aims to reflect, before fees and expenses, the aggregate performance of the stocks that comprise its benchmark index. To achieve this objective, the fund employs a passive management strategy, maintaining a portfolio that seeks to replicate the composition and weighting of the NASDAQ-100.
The benchmark index is weighted by float-adjusted market capitalization, with periodic reviews to include eligible companies and to rebalance in line with index changes.
Diversification and sector exposure
QQQM provides concentrated exposure to large-cap U.S. companies, with a strong presence in technology and innovation sectors, including:
Information technology.
Communication services.
Consumer discretionary.
Health care.
Industrials.
This composition reflects the NASDAQ-100 profile, known for its high growth orientation and significant technology exposure.
Structure and costs
Shares of QQQM are traded on the secondary market, while creation and redemption of shares are carried out by authorized participants, a mechanism that helps keep the ETF’s market price close to its net asset value (NAV).
The fund has a low and competitive expense ratio and does not charge a performance fee. QQQM may make periodic income distributions, derived from dividends paid by the companies held in its portfolio. The ETF has a single share class and trades exclusively under the ticker QQQM.
History and evolution of the ETF
The Invesco NASDAQ 100 ETF (QQQM) was launched in 2020, amid growing investor demand for cost-efficient exposure to the NASDAQ-100 Index designed for both retail and institutional investors.
Since its inception, QQQM has been used as a lower-cost alternative to the Invesco QQQ Trust (QQQ), providing broader access to technology and growth-oriented companies listed on NASDAQ.
Between 2020 and 2024, the ETF reflected fluctuations in the U.S. equity market, particularly in the technology and innovation sectors, tracking periods of accelerated growth, volatility, and sector realignments in major global markets.
