Track the 100 largest non-financial companies on Nasdaq, heavily weighted toward technology leaders like Apple, Microsoft, NVIDIA, Amazon, and Meta.
The Invesco QQQ Trust (QQQ) tracks the Nasdaq-100 Index, which includes 100 of the largest non-financial companies listed on the Nasdaq stock exchange. This makes QQQ one of the most technology-focused ETFs available.
Unlike the S&P 500 (which SPY and VOO track), the Nasdaq-100 excludes financial companies and has a much heavier concentration in technology, consumer discretionary, and communication services sectors.
Apple, Microsoft, NVIDIA, Amazon, Meta, Alphabet (Google), Tesla, Broadcom, Costco, Netflix — these top 10 holdings make up over 50% of the fund.
| Feature | QQQ | VGT |
|---|---|---|
| Expense Ratio | 0.20% | 0.10% |
| Focus | Nasdaq-100 (tech-heavy) | Pure tech sector |
| Holdings | 100 | 300+ |
| Includes Amazon? | Yes | No (consumer sector) |
| Includes Tesla? | Yes | No (auto sector) |
Bottom line: QQQ offers broader exposure to innovative companies across sectors, while VGT is a pure-play technology sector fund with lower fees.
QQQ is US-listed, so use Hatch, Stake, Sharesies, or Interactive Brokers. Interactive Brokers has the lowest fees on larger amounts.
Deposit NZD and convert to USD. Watch the FX spread — it's often the biggest hidden cost for Kiwi investors.
Search "QQQ" or "Invesco QQQ Trust". Current price is around US$520 per share (Jan 2026).
Buy whole shares or fractional shares (platform dependent). Consider dollar-cost averaging for volatile tech exposure.
QQQ is a Foreign Investment Fund. If your total FIF holdings exceed $50,000 NZD, you'll need to calculate taxable income using FDR (5% of opening market value) or CV method.
QQQ dividends (though small at ~0.5%) are subject to 15% US withholding tax under the NZ-US tax treaty. Complete a W-8BEN form to get this reduced rate.
QQQ can be excellent for long-term growth, but it's more volatile than broad market ETFs. Many Kiwi investors use it as a growth "tilt" alongside a core holding like VTI or VOO, rather than their only investment.
One share costs around US$520 (Jan 2026). However, Sharesies and Stake offer fractional shares, so you can start with as little as $1.
QQQ gives you instant diversification across 100 companies. Picking individual stocks requires more research and carries higher risk if one company underperforms. For most investors, QQQ is the simpler choice.