Data as of Oct 28, 2026.
QQQM vs XBI: Differences, Returns & Fees
Over the year to Oct 28, 2026, QQQM returned +15.2% to XBI's +41.2%, and QQQM charges 0.15% to XBI's 0.35%.
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Net assets on Oct 27, 2026: $110.4bn for Invesco NASDAQ 100 ETF and $10.3bn for State Street SPDR S&P Biotech ETF.
Pair scorecard
QQQM costs 0.20 points a year less; their one-year returns differ by 26.0 points; QQQM is 10.7 times larger.
| Measure | QQQM | XBI |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.2% | +41.2% |
| Drawdown | ||
| Below its high | 4.5%, high on Oct 6, 2026 | |
| Below its all-time high | 8.9%, high on Feb 8, 2021 | |
| Benchmark | ||
| What it tracks | Nasdaq-100 Index | Biotech |
| Cost and size | ||
| Expense ratio | 0.15% | 0.35% |
| Net assets, as of Oct 27, 2026 | $110.4bn | $10.3bn |
| Active share vs the S&P 500 | 98% | |
| Holdings | ||
| Holdings in common | 3% | |
| Top ten holdings, share of the fund | 46.7% | 18% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Oct 23, 2020 to Oct 23, 2026 · 313 weekly returnsQQQM returned more: +157.2% to +28.1%. QQQM swung less: 21.0% to 29.6%. QQQM fell less at its worst: −35.0% to −61.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | QQQM | XBI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +157.2% | +28.1% | QQQM | Price change plus distributions, reinvested. |
| Annualized | +17.0% | +4.2% | QQQM | Total return as a yearly rate. |
| Price return | +147.9% | +27.1% | QQQM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 21.0% | 29.6% | QQQM | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.6% | 20.2% | QQQM | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −35.0% | −61.5% | QQQM | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.70 | 0.18 | QQQM | Return above Treasury bills per unit of volatility. |
| Sortino | 1.07 | 0.26 | QQQM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.49 | 0.07 | QQQM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 313 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, QQQM and XBI 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
QQQM and XBI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
QQQM and XBI do different jobs. What does each one do in a portfolio?
- What each follows. QQQM follows Nasdaq-100 Index and XBI follows Biotech.
- Holdings in common. 3% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 QQQM returned +15.2% and XBI +41.2% with distributions reinvested, a gap of 26.0 points.
Data as of Oct 28, 2026.
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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.
XBI
By weight, 13% of XBI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 18% of the fund across 165 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +41.2% with distributions reinvested. It sits 8.9% below its all-time high of Feb 8, 2021.
Questions people ask
- Are QQQM and XBI in the same category?
- QQQM is a stock ETF and XBI is a thematic ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, QQQM or XBI?
- In the year to Oct 28, 2026, with distributions reinvested, QQQM returned +15.2% and XBI +41.2%.
- Which is cheaper, QQQM or XBI?
- QQQM is cheaper, by 0.20 percentage points a year. That is about $20 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, QQQM against XBI, data as of Oct 28, 2026. https://etfiq.com/compare/any/qqqm-vs-xbi
ETFIQ. (Oct 28, 2026). QQQM against XBI. Retrieved from https://etfiq.com/compare/any/qqqm-vs-xbi
[QQQM against XBI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/qqqm-vs-xbi)
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