Data as of Oct 28, 2026.
PPA vs QQQM: Differences, Returns & Fees
Over the year to Oct 28, 2026, PPA returned −0.2% to QQQM's +15.2%, and QQQM charges 0.15% to PPA's 0.58%.
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Net assets on Oct 27, 2026: $7.4bn for Invesco Aerospace & Defense ETF and $110.4bn for Invesco NASDAQ 100 ETF.
Pair scorecard
QQQM costs 0.43 points a year less; their one-year returns differ by 15.4 points; QQQM is 14.9 times larger.
| Measure | PPA | QQQM |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.2% | +15.2% |
| Drawdown | ||
| Below its all-time high | 14.5%, high on Mar 2, 2026 | |
| Below its high | 4.5%, high on Oct 6, 2026 | |
| Against its benchmark | ||
| What it tracks | Defense | Nasdaq-100 Index |
| Against the S&P 500, 1 year | behind by 13.9 pts | |
| Against its benchmark, 1 year | behind by 13.9 pts | |
| Cost and size | ||
| Expense ratio | 0.58% | 0.15% |
| Net assets, as of Oct 27, 2026 | $7.4bn | $110.4bn |
| Holdings | ||
| Holdings in common | 3% | |
| Top ten holdings, share of the fund | 61% | 46.7% |
Holdings in common uses holdings dated Oct 27, 2026. Method
What they share
By the books each fund has filed, PPA and QQQM hold 3% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
3% in common
Only in one fund ↓
Side by side
PPA and QQQM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PPA
By weight, 77% of PPA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 61% of the fund across 70 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 14.5% below its all-time high of Mar 2, 2026.
QQQM
QQQM tracks the Nasdaq-100. Over the year to Oct 28, 2026 it returned +15.2% with distributions reinvested, against +15.2% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 105 positions, with the top ten at 46.7%. It sat 4.5% below its high of Oct 6, 2026 on Oct 28, 2026.
Questions people ask
- Are PPA and QQQM in the same category?
- PPA is a thematic ETF and QQQM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, PPA or QQQM?
- In the year to Oct 28, 2026, with distributions reinvested, PPA returned −0.2% and QQQM +15.2%.
- Which is cheaper, PPA or QQQM?
- QQQM is cheaper, by 0.43 percentage points a year. That is about $43 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, PPA against QQQM, data as of Oct 28, 2026. https://etfiq.com/compare/any/ppa-vs-qqqm
ETFIQ. (Oct 28, 2026). PPA against QQQM. Retrieved from https://etfiq.com/compare/any/ppa-vs-qqqm
[PPA against QQQM (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ppa-vs-qqqm)
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