QQQM Fees and Costs — Invesco NASDAQ 100 ETF
Data updated: 2026-07-30
The net expense ratio is 0.15%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $280K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 6%.
QQQM Fees and Expenses
Annual operating expenses and sales charges of QQQM. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
QQQM Costs Over Time
On $10,000 invested in QQQM, assuming 5% a year before costs, total costs come to $96 over 5 years, cutting the return by 0.16% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $96 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
QQQM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0006%
- Total broker commissions: $280K
- Bought from dealers (principal trades, not a cost): $36.2B
- Portfolio turnover (prospectus): 6%
- Securities on loan, average value: $425.5M
- Net income from securities lending: $564K (0.001% of average net assets)
QQQM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $173K | 62.00% |
| UBS SECURITIES LLC | $37K | 13.29% |
| MORGAN STANLEY & CO. LLC | $30K | 10.65% |
| CITIGROUP GLOBAL MARKETS INC. | $25K | 8.87% |
| INVESCO CAPITAL MARKETS, INC. | $5K | 1.90% |
| BARCLAYS CAPITAL INC. | $5K | 1.65% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4K | 1.48% |
| WILLIAMS CAPITAL GROUP, L.P. (THE) | $181 | 0.06% |
| SANFORD C. BERNSTEIN & CO., LLC | $162 | 0.06% |
| STATE STREET GLOBAL MARKETS, LLC | $118 | 0.04% |
QQQM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN, SACHS & CO. | $10.2B | 28.58% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $7.9B | 22.15% |
| JANE STREET CAPITAL, LLC | $5.1B | 14.27% |
| MORGAN STANLEY & CO. LLC | $4.7B | 13.09% |
| RBC CAPITAL MARKETS, LLC | $2.5B | 7.06% |
| CITADEL SECURITIES LLC | $2.3B | 6.47% |
| BNY MELLON CAPITAL MARKETS, LLC | $985.4M | 2.75% |
| VIRTU AMERICAS LLC | $888.6M | 2.48% |
| HRT FINANCIAL LLC | $887.0M | 2.48% |
| CITIGROUP GLOBAL MARKETS INC. | $235.9M | 0.66% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.