Data as of Sep 4, 2026. Both funds on the fields they both publish, from the same sources.
KWEB vs QQQ
KraneShares CSI China Internet ETF and Invesco QQQ Trust.
What they hold in common
By the books each fund has filed, KWEB and QQQ hold 0% of their money in the same securities at the same weight.
| Holding | KWEB | QQQ |
|---|---|---|
| PDD Holdings Inc. | 7.94% | 0.25% |
| Only in KWEB | Only in QQQ |
|---|---|
| Tencent Holdings Limited 10.47% | NVIDIA Corp. 8.16% |
| Alibaba Group Holding Limited 7.72% | Apple Inc. 7.29% |
| NETEASE, INC. 6.99% | Microsoft Corp. 5.32% |
| MEITUAN 6.84% | Micron Technology, Inc. 4.80% |
| BAIDU, INC. 4.20% | Amazon.com, Inc. 4.62% |
| Full Truck Alliance Co Ltd 4.17% | Advanced Micro Devices, Inc. 3.70% |
| KUAISHOU TECHNOLOGY 4.09% | Alphabet Inc. 3.52% |
| KE Holdings Inc. 3.90% | Tesla, Inc. 3.46% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Jun 30, 2026 and May 31, 2026.
| KWEB KraneShares CSI China Internet ETF | QQQ Invesco QQQ Trust | |
|---|---|---|
| Where it sits | Themes desk | Core fund |
| Issuer | KraneShares | Invesco |
| What it is | Internet and e-commerce | Nasdaq-100, book from QQQM |
| Total return, 1 year | −27.2% | +25.6% |
| S&P 500 over the same days | +20.0% | +20.0% |
| Gap to the S&P 500 | −47.2 pts | +5.6 pts |
| Expense ratio | 0.69% | 0.18% |
| Already in the S&P 500 | 0.0% | 96.7% |
| Holdings | 33 | 101 |
KWEB in plain words
By weight, 0% of KWEB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 60% of the fund across 33 positions, as filed for Jun 30, 2026. Over the year to Sep 4, 2026 the fund returned −27.2% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 47.2 pts. It sits 69.8% below its all-time high of Feb 17, 2021.
QQQ in plain words
QQQ is a index equity fund tracking Nasdaq-100, book from QQQM. Over the year to Sep 4, 2026 it returned +25.6% with distributions reinvested, against +20.0% for the S&P 500 and +25.6% for the Nasdaq-100. The prospectus expense ratio is 0.18% a year. By its holdings filed for May 31, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 101 positions, with the top ten at 47.5%. It sat 3.5% below its high of Jun 2, 2026 on Sep 4, 2026.
Questions people ask
- Which returned more over the last year, KWEB or QQQ?
- In the year to Sep 4, 2026, with distributions reinvested, KWEB returned −27.2% and QQQ returned +25.6%, so QQQ returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, KWEB or QQQ?
- KWEB charges 0.69% a year and QQQ charges 0.18%, so QQQ is cheaper. Fees come from each fund's prospectus.
- How much do KWEB and QQQ overlap with the S&P 500?
- By their latest filed holdings, 0% of KWEB and 97% of QQQ by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
- Are KWEB and QQQ the same kind of fund?
- No. KWEB is a thematic ETF and QQQ is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.
Other comparisons
Where to next
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, KWEB against QQQ, data as of Sep 4, 2026. https://etfiq.com/compare/any/KWEB-QQQ.html Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources