Data as of .
FMQQ vs PNQI: which is really different?
FMQQ and PNQI hold 5% of their weight in the same names, and PNQI 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
5% 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 PNQI hold 5% of their money in the same securities at the same weight.
| Holding | FMQQ | PNQI |
|---|---|---|
| MercadoLibre, Inc. | 8.13% | 2.56% |
| COUPANG, INC. | 2.73% | 0.66% |
| Only in FMQQ | Only in PNQI |
|---|---|
| BAJAJ FINANCE LIMITED 8.21% | Microsoft Corp 8.53% |
| RELIANCE INDUSTRIES LIMITED 7.90% | Apple Inc 8.38% |
| Eternal Ltd 7.83% | Meta Platforms Inc 8.19% |
| Nu Holdings Ltd. 7.49% | Amazon.com Inc 7.29% |
| SEA LIMITED 6.47% | Alphabet Inc 7.11% |
| Joint Stock Company Kaspi.kz 6.43% | Salesforce Inc 4.85% |
| GRAB HOLDINGS LIMITED 3.96% | Shopify Inc 4.21% |
| JIO FINANCIAL SERVICES LIMITED 3.79% | Walt Disney Co/The 3.92% |
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 and Sep 19, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FMQQ | PNQI | FMQQ | PNQI | FMQQ | PNQI | |
| 3 months | +5.7% | +10.1% | +3.4 pts | +7.9 pts | +8.2 pts | +12.6 pts |
| 6 months | +11.2% | +12.0% | −6.8 pts | −6.0 pts | −13.0 pts | −12.2 pts |
| 1 year | −21.2% | −10.8% | −37.8 pts | −27.4 pts | −43.0 pts | −32.6 pts |
| 3 years | +16.0% | +59.2% | −62.4 pts | −19.2 pts | −82.2 pts | −39.0 pts |
| Since launch | −50.2% | +865.0% | −138.0 pts | +61.5 pts | −156.5 pts | −825.2 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 | PNQI Invesco NASDAQ Internet ETF Holds 79 stocks in internet and e-commerce, 75% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | EMQQ Global | Invesco |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 0.0% | 75.2% |
| Active share vs the S&P 500 | 100.0% | 78.8% |
| In the Nasdaq-100 | 8.1% | 63.9% |
| Holdings | 38 | 79 |
| Top ten, share of the fund | 63.7% | 60.0% |
| Expense ratio | 0.86% | 0.60% |
| Fee for the differing part | 0.86% | 0.76% |
| Total return, 1 year | −21.2% | −10.8% |
| vs the S&P 500 | −37.8 pts | −27.4 pts |
| vs the Nasdaq-100 | −43.0 pts | −32.6 pts |
| Below its high | −51.8% | −11.4% |
| Net assets | $20m | $524m |
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.
PNQI in plain words
By weight, 75% of PNQI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 79%. The top ten holdings are 60% of the fund across 79 positions, as published by its issuer for Sep 19, 2026. Over the year to Sep 18, 2026 the fund returned −10.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 27.4 pts. It sits 11.4% below its all-time high of Sep 19, 2025.
Questions people ask
- Do FMQQ and PNQI hold the same stocks?
- By their latest filings, 5% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, FMQQ or PNQI?
- FMQQ has 0% of its weight in S&P 500 names and PNQI has 75%, so FMQQ differs more from the index.
- Which is cheaper, FMQQ or PNQI?
- FMQQ charges 0.86% a year and PNQI charges 0.60%, so PNQI 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 PNQI, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fmqq-vs-pnqi Free to use with attribution; the underlying files are at Open data.