Invesco QQQ converted from a unit investment trust to an open-end fund on Dec. 222025. Investors approved the change on Dec. 19which also lowers the annual fee to 0.18% from 0.20%. Restructuring the exchange-traded fund from a trust confers marginal benefits for fundholders: open-end funds can lend securities and reinvest cash to more tightly track an index. Both are common practices that may marginally improve the total return that an investor receives. The underlying Nasdaq-100 Index and the ETF’s replication method did not changeand Morningstar’s opinion of the strategy remains the same.
Morningstar’s Analysis QQQ
Will QQQ outperform in the future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
The People Pillar is our evaluation of the QQQ management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of QQQ’s parent organization’s priorities and whether they’re in line with investors’ interests.
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 48.7
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Top 10 Holdings
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% Portfolio Weight
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Market Value USD
|
Sector
|
|---|---|---|---|
NVIDIA Corp | 8.78 | 36B | Technology |
Apple Inc | 7.51 | 31B | Technology |
Microsoft Corp | 6.93 | 29B | Technology |
Amazon.com Inc | 5.15 | 21B | Consumer Cyclical |
Tesla Inc | 3.88 | 16B | Consumer Cyclical |
Alphabet Inc Class A | 3.77 | 16B | Communication Services |
Meta Platforms Inc Class A | 3.68 | 15B | Communication Services |
Alphabet Inc Class C | 3.51 | 15B | Communication Services |
Broadcom Inc | 3.25 | 13B | Technology |
Costco Wholesale Corp | 2.25 | 9B | Consumer Defensive |
United States