Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
QQQ vs XME: how they differ
Over the year XME returned more, +32.5% against +23.0%, and QQQ charges 0.18% against 0.35%.
Invesco QQQ Trust and State Street(R) SPDR(R) S&P(R) Metals & Mining ETF.
What they hold in common
By the books each fund has filed, QQQ and XME hold 0% of their money in the same securities at the same weight.
| Only in QQQ | Only in XME |
|---|---|
| NVIDIA Corp. 8.16% | Uranium Energy Corp 4.76% |
| Apple Inc. 7.29% | Hecla Mining Co 4.62% |
| Microsoft Corp. 5.32% | Centrus Energy Corp 4.60% |
| Micron Technology, Inc. 4.80% | USA Rare Earth Inc 4.47% |
| Amazon.com, Inc. 4.62% | Coeur Mining Inc 4.46% |
| Advanced Micro Devices, Inc. 3.70% | MP Materials Corp 4.41% |
| Alphabet Inc. 3.52% | Freeport-McMoRan Inc 4.26% |
| Tesla, Inc. 3.46% | Royal Gold Inc 4.26% |
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 dated Jun 30, 2026 and May 31, 2026.
| QQQ Invesco QQQ Trust | XME State Street(R) SPDR(R) S&P(R) Metals & Mining ETF | |
|---|---|---|
| Where it sits | Core index fund | Thematic ETF |
| Issuer | Invesco | State Street |
| What it is | Nasdaq-100, book from QQQM | Miners and metals |
| Total return, 1 year | +23.0% | +32.5% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +5.5 pts | +15.0 pts |
| Expense ratio | 0.18% | 0.35% |
| Already in the S&P 500 | 96.7% | 17.3% |
| Holdings | 101 | 41 |
QQQ in plain words
QQQ is an index equity fund tracking the Nasdaq-100. Over the year to Sep 11, 2026 it returned +23.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% 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 4.1% below its high of Jun 2, 2026 on Sep 11, 2026.
XME in plain words
By weight, 17% of XME'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 47% of the fund across 41 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +32.5% with distributions reinvested against +17.5% for the S&P 500, so a holder was ahead by 15.0 pts. It sits 14.4% below its all-time high of Jun 2, 2026.
Questions people ask
- Which returned more over the last year, QQQ or XME?
- In the year to Sep 12, 2026, with distributions reinvested, QQQ returned +23.0% and XME returned +32.5%, so XME returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, QQQ or XME?
- QQQ charges 0.18% a year and XME charges 0.35%, so QQQ is cheaper. Fees come from each fund's prospectus.
- How much do QQQ and XME overlap with the S&P 500?
- By their latest filed holdings, 97% of QQQ and 17% of XME 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 QQQ and XME the same kind of fund?
- No. QQQ is an index ETF and XME is a thematic 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, QQQ against XME, data as of Sep 12, 2026. https://etfiq.com/compare/any/QQQ-XME Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources