OriginaveQQQ vs QQQM: which ETF won each year?
Yearly returns side by side, one winner per year — dividends included, priced as you'd actually buy them.
QQQ
SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
VOOVanguard S&P 500 ETFtracks the S&P 500 Index
IVViShares Core S&P 500 ETFtracks the S&P 500 Index- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
QQQM
- SPYSPDR S&P 500 ETF Trusttracks the S&P 500 Index
- VOOVanguard S&P 500 ETFtracks the S&P 500 Index
- IVViShares Core S&P 500 ETFtracks the S&P 500 Index
- VTIVanguard Total Stock Market ETFtracks the CRSP US Total Market Index
- QQQInvesco QQQ Trusttracks the Nasdaq-100 Index
- QQQMInvesco NASDAQ 100 ETFtracks the Nasdaq-100 Index
- VGTVanguard Information Technology ETFtracks the MSCI US IMI Information Technology 25/50 Index
- ACWIiShares MSCI ACWI ETFtracks the MSCI ACWI Index
- VTVanguard Total World Stock ETFtracks the FTSE Global All Cap Index
- URTHiShares MSCI World ETFtracks the MSCI World Index
- SCHGSchwab U.S. Large-Cap Growth ETFtracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index
- SCHDSchwab U.S. Dividend Equity ETFtracks the Dow Jones U.S. Dividend 100 Index
- VTVVanguard Value ETFtracks the CRSP US Large Cap Value Index
- VUGVanguard Growth ETFtracks the CRSP US Large Cap Growth Index
- MTUMiShares MSCI USA Momentum Factor ETFtracks the MSCI USA Momentum SR Variant Index
- SPMOInvesco S&P 500 Momentum ETFtracks the S&P 500 Momentum Index
- SPHQInvesco S&P 500 Quality ETFtracks the S&P 500 Quality Index
QQQ tracks the Nasdaq-100 IndexQQQM tracks the Nasdaq-100 Index
What did the last 5 years do to $10,000?
You invest $10,000 at the start of the window and touch nothing — dividends reinvested, the running year not counted. Both funds are measured over the same 5 full years (2021–2025) — the longest stretch both were trading.
QQQ vs QQQM, year by year
Calendar-year total returns (dividends included) side by side, and who took the crown each year. A dash means the fund did not exist yet.
| Year | QQQ | QQQM | Winner |
|---|---|---|---|
| 2026 (so far) | +20.83% | +20.88% | QQQM |
| 2025 | +20.77% | +20.85% | QQQM |
| 2024 | +25.58% | +25.68% | QQQM |
| 2023 | +54.86% | +55.01% | QQQM |
| 2022 | -32.58% | -32.52% | QQQM |
| 2021 | +27.42% | +27.45% | QQQM |
| 2020 | +48.41% | +6.67% | QQQ |
| 2019 | +38.96% | — | — |
| 2018 | -0.13% | — | — |
| 2017 | +32.66% | — | — |
| 2016 | +7.10% | — | — |
| 2015 | +9.44% | — | — |
| 2014 | +19.18% | — | — |
| 2013 | +36.63% | — | — |
| 2012 | +18.11% | — | — |
| 2011 | +3.48% | — | — |
| 2010 | +20.14% | — | — |
| 2009 | +54.68% | — | — |
| 2008 | -41.73% | — | — |
| 2007 | +19.03% | — | — |
| 2006 | +7.14% | — | — |
| 2005 | +1.57% | — | — |
| 2004 | +10.54% | — | — |
| 2003 | +49.67% | — | — |
| 2002 | -37.37% | — | — |
| 2001 | -33.34% | — | — |
| 2000 | -36.11% | — | — |
| 1999 | +78.95% | — | — |
QQQ vs QQQM in plain words
QQQ and QQQM both track the Nasdaq-100 Index, so their returns are nearly identical — the real differences are costs and fund structure. QQQ charges 0.18% a year in running costs and QQQM charges 0.15% — QQQM is the cheaper fund to hold.
Both funds distribute: dividends land in your account as cash instead of being reinvested automatically. Across the 7 calendar years both funds were trading, QQQ finished the year ahead 1 times and QQQM 6 times. $10,000 invested at the start of 2021 was worth $20,177 in QQQ versus $20,250 in QQQM by the end of 2025, dividends reinvested.
Fund facts: QQQ vs QQQM
| Fact | QQQ | QQQM |
|---|---|---|
| Fund | Invesco QQQ Trust | Invesco NASDAQ 100 ETF |
| Tracks | Nasdaq-100 Index | Nasdaq-100 Index |
| Yearly cost (TER) | 0.18% | 0.15% |
| Dividends | Distributing — dividends paid out | Distributing — dividends paid out |
| Launched | 10 Mar 1999 | 13 Oct 2020 |
| $10,000 invested | What $10,000 in QQQ became | What $10,000 in QQQM became |
How bumpy the ride was: QQQ vs QQQM
These head-to-head figures use only the 1,502 trading days both funds were listed: 13 Oct 2020 to 6 Oct 2026, roughly 6.0 years.
QQQ and QQQM swung about equally: annualised volatility of 22.3% for QQQ against 22.2% for QQQM, with QQQ moving 1% or more on 40.0% of trading days and QQQM on 40.3%. Both had their worst day on 4 Apr 2025: QQQ closed -6.21% and QQQM -6.11%.
Both funds suffered a drawdown of about the same depth: QQQ fell -35.12% from its peak on 27 Dec 2021 to a low on 3 Nov 2022, then closed back above the old peak on 13 Dec 2023, 13 months after the low; QQQM fell -35.04% from its peak on 19 Nov 2021 to a low on 3 Nov 2022, then closed back above the old peak on 12 Dec 2023, 13 months after the low.
Day to day the two move almost in lockstep: the correlation of their daily returns is 1.00, and they closed in opposite directions on 0.7% of the 1,501 days measured. The widest single-day gap came on 4 Nov 2020, when QQQ moved +4.46% and QQQM +3.84%.
| Measure | QQQ | QQQM |
|---|---|---|
| Annualised volatility | 22.3% | 22.2% |
| Worst day | -6.21% on 4 Apr 2025 | -6.11% on 4 Apr 2025 |
| Best day | +12.00% on 9 Apr 2025 | +11.74% on 9 Apr 2025 |
| Days moving 1% or more | 40.0% of days | 40.3% of days |
| Deepest drawdown | -35.12% | -35.04% |
| Peak to trough | 27 Dec 2021 → 3 Nov 2022 | 19 Nov 2021 → 3 Nov 2022 |
| Back above the old peak | 13 Dec 2023 · 13 months | 12 Dec 2023 · 13 months |
Years QQQ and QQQM parted ways
In 1 of the 6 completed calendar years both funds were trading, the two returns ended more than 5 points apart. The widest split was 2020: QQQ returned +48.41% and QQQM +6.67%, a gap of 41.7 points. They rose together in 5 years and fell together in 1 year.
| Year | QQQ | QQQM | Gap (QQQ − QQQM) |
|---|---|---|---|
| 2020 | +48.41% | +6.67% | +41.7 pts |
How often QQQ beat QQQM over any 12 months
Across the 60 rolling 12-month windows since October 2020, measured month-end to month-end, QQQ finished ahead in 21.7% of them (13) and QQQM in 78.3% (47).
$200 a month into each, 2021–2025
Putting $200 into each fund at the start of every month from January 2021 to December 2025 (60 payments, $12,000 in total) would have grown to $19,663 in QQQ and $19,699 in QQQM, leaving QQQM $37 ahead.
| Outcome | QQQ | QQQM |
|---|---|---|
| Paid in | $12,000 | $12,000 |
| Value at the end of 2025 | $19,663 | $19,699 |
| Gain on the money paid in | +$7,663 | +$7,699 |
| Gain in % | +63.85% | +64.16% |
Each payment rides the return of the month it lands in, dividends reinvested. Only calendar years with all twelve months of data for both funds count, so the plan may start later than the shared history.
Frequently asked
Is QQQ or QQQM better?
Across the 7 calendar years both funds were trading, QQQ finished the year ahead 1 times and QQQM 6 times. $10,000 invested at the start of 2021 was worth $20,177 in QQQ versus $20,250 in QQQM by the end of 2025, dividends reinvested. Past returns don't promise future ones — but this is what actually happened.
What is the difference between QQQ and QQQM?
QQQ and QQQM both track the Nasdaq-100 Index, so their returns are nearly identical — the real differences are costs and fund structure. QQQ charges 0.18% a year in running costs and QQQM charges 0.15% — QQQM is the cheaper fund to hold. Both funds distribute: dividends land in your account as cash instead of being reinvested automatically.
Which is more volatile, QQQ or QQQM?
QQQ and QQQM swung about equally: annualised volatility of 22.3% for QQQ against 22.2% for QQQM, with QQQ moving 1% or more on 40.0% of trading days and QQQM on 40.3%. Both had their worst day on 4 Apr 2025: QQQ closed -6.21% and QQQM -6.11%.
Which had the deeper drawdown, QQQ or QQQM?
Both funds suffered a drawdown of about the same depth: QQQ fell -35.12% from its peak on 27 Dec 2021 to a low on 3 Nov 2022, then closed back above the old peak on 13 Dec 2023, 13 months after the low; QQQM fell -35.04% from its peak on 19 Nov 2021 to a low on 3 Nov 2022, then closed back above the old peak on 12 Dec 2023, 13 months after the low.
How often did QQQ beat QQQM over a 12-month period?
Across the 60 rolling 12-month windows since October 2020, measured month-end to month-end, QQQ finished ahead in 21.7% of them (13) and QQQM in 78.3% (47).
What would $10,000 in QQQ have become?
$10,000 invested in QQQ at the start of 2021 grew to $20,177 by the end of 2025, with dividends reinvested — an average of 15.1% per year.
Source: Yahoo Finance daily adjusted closes for the US primary listings, dividends reinvested. Prices through · refreshed 7 Oct 2026, 08:49 UTC. How every number is calculated.