Data as of .
FMQQ vs INQQ: which is really different?
FMQQ and INQQ hold 44% of their weight in the same names, and INQQ returned more over the year.
ETFIQ Off-Index Score: FMQQ scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
44% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FMQQ and INQQ hold 44% of their money in the same securities at the same weight.
| Holding | FMQQ | INQQ |
|---|---|---|
| RELIANCE INDUSTRIES LIMITED | 7.90% | 7.83% |
| BAJAJ FINANCE LIMITED | 8.21% | 7.63% |
| Eternal Ltd | 7.83% | 6.79% |
| JIO FINANCIAL SERVICES LIMITED | 3.79% | 5.89% |
| BILLIONBRAINS GARAGE VENTURES LIMITED | 3.43% | 7.44% |
| PB Fintech Ltd | 2.77% | 6.53% |
| ONE 97 COMMUNICATIONS LIMITED | 1.68% | 4.43% |
| INFO EDGE (INDIA) LIMITED | 1.67% | 3.91% |
| MakeMyTrip Limited | 1.58% | 4.04% |
| FSN E-COMMERCE VENTURES LIMITED | 1.40% | 5.01% |
| SWIGGY LIMITED | 1.31% | 3.56% |
| Lenskart Solutions Ltd | 1.22% | 6.67% |
| Only in FMQQ | Only in INQQ |
|---|---|
| MercadoLibre, Inc. 8.13% | Honasa Consumer Ltd 2.55% |
| Nu Holdings Ltd. 7.49% | URBAN COMPANY LIMITED 1.69% |
| SEA LIMITED 6.47% | Nazara Technologies Ltd 1.64% |
| Joint Stock Company Kaspi.kz 6.43% | Indiamart Intermesh Ltd 1.58% |
| GRAB HOLDINGS LIMITED 3.96% | Go Digit General Insurance Ltd 1.49% |
| NAVER Corporation 3.54% | Brainbees Solutions Ltd 1.28% |
| XP Inc. 2.99% | Blackbuck Ltd 1.20% |
| COUPANG, INC. 2.73% | Truecaller AB 0.87% |
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 May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FMQQ | INQQ | FMQQ | INQQ | FMQQ | INQQ | |
| 3 months | +5.7% | +7.8% | +3.4 pts | +5.5 pts | +8.2 pts | +10.3 pts |
| 6 months | +11.2% | +16.4% | −6.8 pts | −1.6 pts | −13.0 pts | −7.8 pts |
| 1 year | −21.2% | −13.8% | −37.8 pts | −30.4 pts | −43.0 pts | −35.6 pts |
| 3 years | +16.0% | +11.5% | −62.4 pts | −66.9 pts | −82.2 pts | −86.7 pts |
| Since launch | −50.2% | −11.7% | −138.0 pts | −92.9 pts | −156.5 pts | −121.4 pts |
| FMQQ FMQQ The Next Frontier Internet ETF Holds 38 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | INQQ INQQ The India Internet ETF Holds 28 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | EMQQ Global | EMQQ Global |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 0.0% | 0.0% |
| Active share vs the S&P 500 | 100.0% | 100.0% |
| In the Nasdaq-100 | 8.1% | 0.0% |
| Holdings | 38 | 28 |
| Top ten, share of the fund | 63.7% | 62.3% |
| Expense ratio | 0.86% | 0.86% |
| Fee for the differing part | 0.86% | 0.86% |
| Total return, 1 year | −21.2% | −13.8% |
| vs the S&P 500 | −37.8 pts | −30.4 pts |
| vs the Nasdaq-100 | −43.0 pts | −35.6 pts |
| Below its high | −51.8% | −18.2% |
| Net assets | $20m | $44m |
FMQQ in plain words
By weight, 0% of FMQQ'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 64% of the fund across 38 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −21.2% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 37.8 pts. It sits 51.8% below its all-time high of Oct 19, 2021.
INQQ in plain words
By weight, 0% of INQQ'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 62% of the fund across 28 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned −13.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 30.4 pts. It sits 18.2% below its all-time high of Dec 11, 2024.
Questions people ask
- Do FMQQ and INQQ hold the same stocks?
- By their latest filings, 44% of their books are the same securities at the same weight, which is a meaningful overlap. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FMQQ or INQQ?
- FMQQ has 0% of its weight in S&P 500 names and INQQ has 0%, so FMQQ differs more from the index.
- Which is cheaper, FMQQ or INQQ?
- FMQQ charges 0.86% a year and INQQ charges 0.86%, so FMQQ is cheaper. Fees come from each fund's prospectus.
Other comparisons
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, FMQQ against INQQ, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fmqq-vs-inqq Free to use with attribution; the underlying files are at Open data.