Updated Reviewed quarterly
QQQ ETF: Nasdaq-100 Index
TER0.20%·Yield (TTM)0.7%·DistributionQuarterly·NZ taxFIF (US-domiciled, > NZ$50K cost-basis)
Track the 100 largest non-financial companies on Nasdaq, heavily weighted toward technology leaders like Apple, Microsoft, NVIDIA, Amazon, and Meta.
QQQ Key Stats (2026)
What is QQQ ETF?
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.
Top 10 Holdings
Apple, Microsoft, NVIDIA, Amazon, Meta, Alphabet (Google), Tesla, Broadcom, Costco, Netflix — these top 10 holdings make up over 50% of the fund.
QQQ vs VGT: Which Tech ETF?
| 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.
How to Buy QQQ from New Zealand
Choose a Platform
QQQ is US-listed, so use Hatch, Stake, Sharesies, or Interactive Brokers. Interactive Brokers has the lowest fees on larger amounts.
Fund Your Account
Deposit NZD and convert to USD. Watch the FX spread — it's often the biggest hidden cost for Kiwi investors.
Search for QQQ
Search "QQQ" or "Invesco QQQ Trust". Current price is around US$520 per share (Jan 2026).
Place Your Order
Buy whole shares or fractional shares (platform dependent). Consider dollar-cost averaging for volatile tech exposure.
Tax Implications for NZ Investors
FIF Rules Apply
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.
US Withholding Tax
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: Pros & Cons for Kiwi Investors
Pros
- Exposure to large-cap US technology and consumer-discretionary companies
- Strong historical returns (outperformed S&P 500)
- Highly liquid with tight spreads
- Includes Amazon, Tesla (not in pure tech ETFs)
Cons
- ✕ Higher volatility than broad market ETFs
- ✕ Concentrated in few mega-cap stocks
- ✕ Higher expense ratio than VOO/VTI (0.20% vs 0.03%)
- ✕ No exposure to financials, energy, utilities
QQQ FAQs
Is QQQ a good long-term investment for NZ investors?
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.
What's the minimum investment for QQQ?
One share costs around US$520 (Jan 2026). However, Sharesies and Stake offer fractional shares, so you can start with as little as $1.
Should I buy QQQ or individual tech stocks?
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.
Related to QQQ
VGT — pure tech alternative
300+ US IT-sector stocks, 0.10% TER vs QQQ 0.20%.
QQQ vs VGT comparison
Nasdaq-100 vs pure tech, side-by-side.
SPY — broader US equity
S&P 500 large-cap (less tech-concentrated).
How to buy US ETFs from NZ
Hatch, Stake, Sharesies, IB.
FIF tax explained
When the FIF regime kicks in (NZ$50K threshold) + how it lands on your IR3.
NZ-listed ETFs (no FIF)
PIE-tax alternatives via Smartshares + Kernel.
FAQ
Common questions about QQQ
What is the QQQ ETF?⌄
QQQ is the Invesco QQQ Trust — an ETF tracking the Nasdaq-100 index, the 100 largest non-financial companies listed on Nasdaq. Heavily weighted toward technology (~50%+), with major positions in Apple, Microsoft, NVIDIA, Amazon, and Alphabet. ~US$280B AUM, 0.20% TER.
QQQ vs VGT — which captures US tech better?⌄
QQQ tracks the Nasdaq-100 (~50% tech, plus Tesla, Amazon, healthcare names). VGT tracks the MSCI US Investable Market Information Technology 25/50 index — a more concentrated pure-tech-sector ETF. QQQ is broader and more liquid; VGT is cheaper (0.10% vs 0.20% TER) and more tech-pure. See our QQQ vs VGT comparison.
Can NZ residents buy QQQ?⌄
Yes — via Hatch, Stake, Sharesies (US market), and Interactive Brokers. As a US-listed ETF, QQQ is subject to NZ FIF rules above NZ$50,000 cost base. Dividends carry 15% US withholding with a W-8BEN. There is no NZX-listed equivalent of the Nasdaq-100 currently — Smartshares does not run a comparable wrapper.
Is QQQ riskier than SPY?⌄
QQQ is more concentrated than SPY — about 50% in technology vs SPY's 28%. Historically that has meant higher returns in tech-led bull markets and larger drawdowns in tech-led corrections (e.g. 2000-2002, 2022). Past performance is not indicative of future results; concentration risk should be considered against your overall portfolio mix.
