US-listed · NASDAQ · FIF-eligible (above NZ$50K)
Invesco QQQM Invesco Nasdaq-100 ETF
Tracks the Nasdaq-100 Index. Lower-cost sibling to QQQ, designed for buy-and-hold investors.
Updated Reviewed quarterly
About this fund
What is QQQM?
QQQM is the US-listed ticker for Invesco Nasdaq-100 ETF, issued by Invesco. Tracks the Nasdaq-100 Index. Lower-cost sibling to QQQ, designed for buy-and-hold investors. TER is 0.15% per year, with a trailing 12-month distribution yield of approximately 0.6%. Distributions are paid quarterly.
How to buy
Where can I buy QQQM from New Zealand?
Hatch NZ-built. US$3 flat per trade, ~0.5% FX.
Stake Commission-free US shares; ~0.7% FX.
Sharesies NZ + AU + US in one account; tiered subscription pricing.
Interactive Brokers Tiered commissions; FX margin ~0.002% (lowest published of platforms reviewed).
See the full platform comparison for fees, minimums, and supported markets across all 11 NZ-accessible brokers.
NZ tax
How is QQQM taxed for NZ investors?
QQQM is US-listed, so it sits in the Foreign Investment Fund (FIF) regime once your overseas-share holdings exceed NZ$50,000 cost basis. Below that threshold, the FIF regime does not apply and you pay tax on dividends only.
Above NZ$50K cost basis, most NZ retail investors use the Fair Dividend Rate (FDR) method — deemed income = 5% × opening market value × your marginal tax rate. FDR vs CV method →
US dividends carry 15% US withholding tax under the NZ–US tax treaty (file a W-8BEN with your broker; without it, the rate is 30%). The 15% can be claimed as a foreign tax credit on your IR3.
Tax outcomes depend on your portfolio size, marginal rate, and FDR-vs-CV election. See PIE vs FIF for the full comparison and consult a registered NZ tax adviser for personalised guidance.
FAQ
Common questions about QQQM
What is the QQQM ETF? ⌄
QQQM is the Invesco Nasdaq-100 ETF — it tracks the same Nasdaq-100 Index as QQQ but with a lower expense ratio. TER is 0.15% (vs QQQ at 0.20%), distributions paid quarterly. QQQM was launched in 2020 as a buy-and-hold-friendly version of QQQ; QQQ retains higher liquidity for trading.
QQQM vs QQQ — should I use the cheaper one? ⌄
Both track the Nasdaq-100 with identical holdings. QQQM charges 0.15% TER vs QQQ at 0.20% — over 30 years on a NZ$10,000 investment, that's a roughly NZ$1,500 difference (compounded). QQQ has tighter bid-ask spreads and higher trading volume — meaningful for active traders, irrelevant for long-term holders. For NZ buy-and-hold investors, QQQM is the clear cost choice.
Can NZ residents buy QQQM? ⌄
Yes. QQQM is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50K cost basis FIF rules apply — most NZ investors use the FDR method. File a W-8BEN to apply the 15% NZ–US treaty withholding rate to distributions.
QQQM vs VOO — Nasdaq-100 vs S&P 500? ⌄
QQQM (Nasdaq-100) holds ~100 large non-financial stocks listed on the Nasdaq, with ~50% concentration in tech mega-caps (Apple, Microsoft, Nvidia, Amazon, Meta). VOO (S&P 500) holds ~500 stocks across all sectors with ~28% in tech. QQQM is higher-growth, higher-concentration, more volatile; VOO is broader and more diversified. Many NZ investors hold both — they overlap but each adds something the other doesn't.
Related ETFs and resources
QQQ — Invesco Nasdaq-100 ETF
Higher-liquidity sibling. Same holdings; higher TER (0.20% vs 0.15%).
VOO — Vanguard S&P 500 ETF
Broader US equity exposure (500 stocks across all sectors). 0.03% TER.
JEPQ — JPMorgan Nasdaq Equity Premium
Same Nasdaq-100 baseline + covered-call income overlay.
VTI — Vanguard Total Stock Market
Even broader US equity (~3,500 stocks). 0.03% TER.
FIF tax explained
When FIF applies (NZ$50K threshold) and how to file.
Compare NZ platforms
Where to buy QQQM from NZ — fee comparison.