QQQM is concentrated by design, not by accident. It tracks the Nasdaq-100, a modified market-capitalization-weighted index of the largest non-financial companies listed on Nasdaq. That gives NVIDIA and other mega-cap companies meaningful influence over returns. Index caps and quarterly rebalancing limit any single issuer, but they do not remove the shared exposure to technology, cloud computing, semiconductors, digital advertising and artificial-intelligence spending.
Whether that concentration is “too much” depends on the job QQQM performs. It can be a deliberate growth satellite for an investor who accepts technology-driven volatility. It is a weaker choice as the only equity fund for someone seeking broad company, sector and investment-style diversification.
As an Amazon Associate I earn from qualifying purchases.
What QQQM owns and why its weights become concentrated
Invesco says QQQM invests at least 90% of its assets in securities of the Nasdaq-100. The fund held 103 securities and reported a 0.15% total expense ratio as of June 30, 2026, according to Invesco’s Q2 2026 fact sheet.
Quick wins for a faster PC:
Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →The Nasdaq-100 selects the largest eligible domestic and international non-financial companies listed on Nasdaq. Financial companies are excluded, so the starting universe is already narrower than a total-market index. The index is reconstituted annually and rebalanced quarterly.
#1 Best Overall
- Compact & Portable Design: This Small Excel, Word, PowerPoint, & Windows Cheat Sheet Mouse Pad measures 11.8" x 9.8", offering a portable mouse pad. Its compact size fits in bags or laptop cases, suitable for professionals, students, or travelers.
- Multi-Software Shortcut Guide: Featuring essential shortcut keys for Excel, Word, PowerPoint, & Windows, this small mouse pad provides a quick reference for frequently used shortcuts, offering a reference designed to support workflow efficiency
- Smooth & Precise Surface: The finely-textured surface ensures precise mouse control, allowing for smooth and accurate movement during work or gaming sessions.
- Durable & Non-Slip Design: This Multi-Software Shortcut Mouse Pad features stitched edges to reduce fraying. The non-slip rubber base helps keep it securely in place, and the water-resistant fabric allows for easier maintenance.
- Clear Print Quality: Displays high-resolution printing intended to remain legible through regular use and cleaning
Weights are based on market value, with modifications intended to prevent a few companies from becoming completely dominant. A company that grows faster than the rest of the index normally becomes a larger position. The quarterly process can reduce an excessive weight, but it does not make the holdings equal-sized or eliminate their common economic drivers.
The caps limit one company, not one theme
The Securities and Exchange Commission’s April 30, 2026 supplement describes two relevant limits. At the annual adjustment, no security may exceed 15% of the index. At the quarterly adjustment, no issuer may exceed 24%. Because an issuer can have more than one listed share class, the issuer limit matters in addition to the individual-security limit.
These rules are guardrails rather than diversification guarantees. Several companies can each have substantial weights while responding to the same cycle in enterprise software, data centers, chips, online advertising or AI capital spending. A portfolio can therefore be concentrated by economic driver even when no single stock is near a formal cap.
How much influence do NVIDIA and the largest holdings have?
The SEC report for the six months ended March 31, 2026 provides a dated illustration from QQQ, another fund tracking the Nasdaq-100. It is not a same-day QQQM holdings table, and QQQM’s weights can differ slightly as prices and fund portfolios change. The figures nevertheless show the scale of the shared index exposure.
Rank #2
- [MULTIFUNCTIONAL]You'll get 2 pieces computer monitor memo boards that you can stick on the left and right edges of your monitor, and they're the perfect office desk organizers and accessories. Computer monitor side panels desktop organizer are suitable for home work or office,bringing convenience. Desktop memo is used to organize meeting memos, important messages, business cards, planning notes.Paste on the message board to keep track of important things and to-do items to prevent forgetting.
- [🌟HIGHLY QUALITY] The material of computer screen side note holder is transparent acrylic. Durable, simple, stylish, light weight, easy to use, not easy to fall off or break. This cute office supplies for women desk can be used for a long time. This computer desk accessories is waterproof and dirt resistance, and look simple and stylish. The transparent acrylic sticky note holder as cubicle accessories is easy to notice the context of your sticky notes.
- [📋Easy to use] Office must haves cool office gadgets for desk ready to tear, easy to install and remove, not easy to leave traces. You only need to peel off the protective film on the surface of the computer side board memo, wipe off the dust on the edge of the computer monitor, and then stick the desk essentials for women office on the right or left side of the tape, and you're done. A perfect gift for your colleagues, friends or classmates and family members or relatives
- [🏢MULTI-SCENE USE] This desk supplies computer memo board can be applied to home and office, clear your office decor for women, suitable for most computer monitors, screens and cabinets, you can put it where you think, this cute office decor serve as a reminder. Stick on the computer side. It’s a good office gadgets can remind work improve office productivity. Pasted cabinets, dressers, refrigerators, walls, etc as cubicle accessories. To make life more orderly.
- [💌NOTE] The adhesive force of the computer sticky note holder is very strong. It can not be directly pasted on the computer screen. It should pasted on the black edge of the screen. Narrow edge not recommended!!! If you are not satisfied with your purchase, or if the product is damaged or broken in transit, please let us know immediately. We will promptly solve your problem.
| Company | Weight in QQQ net assets (March 31, 2026 report) |
|---|---|
| NVIDIA | 8.68% |
| Apple | 7.63% |
| Microsoft | 5.63% |
| Amazon | 4.58% |
| Tesla | 3.80% |
| Meta | 3.46% |
| Walmart | 3.44% |
| Alphabet Class A | 3.43% |
| Alphabet Class C | 3.19% |
| Broadcom | 3.00% |
Those ten listed positions add up to about 46.84% of QQQ’s net assets in that report. Alphabet’s two share classes are separate securities in the table but represent one corporate issuer economically. The total should be treated as a historical illustration of the index, not as a live October 2026 QQQM figure.
NVIDIA’s 8.68% example shows why investors notice it. If a position of that size fell 50% while every other holding stayed unchanged, the direct arithmetic effect on the fund would be a decline of roughly 4.34 percentage points before any secondary market reaction. The actual result could be larger or smaller because other semiconductor, cloud and software companies may move at the same time, and index weights change as prices move.
Is QQQM a technology fund?
QQQM is legally an index fund rather than a pure technology-sector fund. The Nasdaq-100 includes companies classified in areas such as consumer discretionary, communication services, health care and industrials, as well as information technology. The list above includes a retailer and several internet and consumer businesses.
Recommended Free Tools
Economic exposure is more important than the label, however. The largest companies often sell technology infrastructure, rely on digital advertising, depend on cloud investment or benefit from AI-related demand. Their share prices can respond to the same interest-rate, valuation and corporate-spending assumptions. This overlap can make QQQM behave more like a mega-cap growth portfolio than like a balanced cross-section of the economy.
Rank #3
- Stay Organized with Ease: Our To Do List Notepad provides multiple sections with plenty of space to jot down all of your important tasks.A versatile office supply perfect for daily task management, helping you keep track of everything that needs to be done and prioritize effectively.
- Achieve Your Productivity Goals: Begin each day on a positive note, reminding you of your potential, strength, and the significance of staying focused on your goals. Our Daily Checklist Notepad is the ultimate tool to streamline your daily planning and elevate your productivity. With a clear and concise overview of your tasks, you can effortlessly prioritize what truly matters and make consistent strides towards achieving your goals.
- Reliable and Stylish: Our to do list planner combines functionality with durability. With a transparent PP cover, the inner pages are well-protected from dirt and wear. Additionally, the back cover is crafted with thick paperboard, offering a stable surface for your writing needs. Each notepad includes 52 pages of high-quality, 100gsm paper, which is thick and non-bleeding, resulting in a smooth and enjoyable writing experience.
- Versatile Use: This daily checklist notepad, suitable for teacher supplies and a wide range of applications, proves invaluable in various settings including work, school, and home. Whether you need to organize your daily tasks, plan a project, or create a grocery list, this notepad serves as the ideal tool. Its compact size ensures easy portability, allowing you to conveniently carry it with you throughout your day.
- Perfect Present for Anyone: Our Daily To-Do List Notepad is the perfect present for those who value organization and productivity. With its stylish design and versatility, this office desk accessory is also a practical addition to school supplies. Suitable for students, professionals, and homemakers alike, it helps keep tasks and priorities in check effortlessly.
Invesco expressly warns that investments focused in a particular industry or sector, such as Information Technology, face greater risk and can be more affected by market volatility than more diversified investments. Invesco also describes QQQM as non-diversified, meaning it may be more volatile than a diversified investment.
What happens to QQQM if NVIDIA falls?
A decline in NVIDIA affects QQQM through its direct index weight first. The effect is mechanical: a stock’s percentage weight multiplied by its return contributes to the fund’s return, before the other holdings’ moves are considered.
- Direct effect: use the fund’s current NVIDIA weight and multiply it by NVIDIA’s move. The 8.68% QQQ example and a 50% fall imply approximately a 4.34-point direct drag.
- Peer effect: chip suppliers, cloud providers and equipment companies may fall if investors interpret NVIDIA’s decline as weaker AI demand or lower data-center spending.
- Valuation effect: a broad reduction in enthusiasm for high-growth companies can pressure many Nasdaq-100 constituents simultaneously, even when their own earnings are unchanged.
- Rebalancing effect: quarterly reweighting can reduce a stock’s index weight, but it does not prevent losses between rebalancing dates or diversify away the underlying business cycle.
The reverse is also true. When NVIDIA and other large constituents outperform, their rising market values can pull QQQM’s return above that of a broad-market portfolio. Concentration is the source of both the upside tilt and the downside sensitivity.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
QQQM versus a broad-market core
A broad-market equity fund generally spreads assets across more sectors, company sizes and investment styles. QQQM deliberately gives up some of that breadth in exchange for exposure to the Nasdaq-100’s large, innovative, growth-oriented companies. The choice is therefore about portfolio role, not simply which fund has more holdings.
Rank #4
- 【Adjustable & Ergonomic】：This laptop stand can be adjusted to a comfortable height and angle according to your actual needs, letting you fix posture and reduce your neck fatigue, back pain and eye strain. Very comfortable for working in home, office and outdoor.
- 【Sturdy & Protective】 ：Made of sturdy metal, it can support up to 17.6 lbs (8kg) weight on top; With 2 rubber mats on the hook and anti-skid silicone pads on top & bottom, it can secure your laptop in place and maximum protect your device from scratches and sliding. Moreover, smooth edges will never hurt your hands.
- 【Heat Dissipation】 ：The top of the laptop stand is designed with multiple ventilation holes. The open design offers greater ventilation and more airflow to cool your laptop during operation other than it just lays flat on the table.
- 【Portable & Foldable】：The foldable design allows you to easily slip it in your backpack. Ideal for people who travel for business a lot.
- 【Broad Compatibility】：Our desktop book stand is compatible with all laptops from 10-15.6 inches, such as MacBook Air/ Pro, Google Pixelbook, Dell XPS, HP, ASUS, Lenovo ThinkPad, Acer, Chromebook and Microsoft Surface, etc.Be your ideal companion in Home, Office & Outdoor.
| Decision factor | QQQM | Broad-market core approach |
|---|---|---|
| Company weighting | Modified market-cap weighting; large companies dominate | Usually broader coverage across company sizes and sectors; exact method depends on the index |
| Sector and factor exposure | Strong growth and momentum tendencies, with substantial technology and communication-services exposure | More balanced sector and style exposure when the underlying index covers the full market |
| Concentration controls | 15% security cap at annual adjustment and 24% issuer cap at quarterly adjustment | Depends on the selected broad-market index |
| Portfolio role | Growth tilt or satellite holding | Potential foundation for diversified equity exposure |
| Expense ratio | 0.15% total expense ratio as of June 30, 2026 | Varies by fund and is not established by the QQQM fact sheet |
Pairing QQQM with a total-market fund can make sense when the broad-market holding is the core and QQQM is an intentional tilt. It does not create a completely independent return stream: the total-market fund already owns many of the same mega-cap companies. The incremental question is how much additional exposure you want to those names, not whether the overlap exists.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.A practical test for whether your portfolio is too concentrated
Look at your entire portfolio rather than QQQM in isolation. A position that appears moderate inside one account can become large after adding workplace retirement plans, taxable accounts and individual-stock holdings.
- Identify overlap: list your existing exposure to NVIDIA, Apple, Microsoft, Amazon, Alphabet, Meta, Broadcom and other Nasdaq-100 constituents through every fund and account.
- Measure the intended role: decide whether QQQM is a satellite growth allocation or your primary equity holding.
- Stress-test a common drawdown: consider whether you could hold the position through a simultaneous decline in several technology and growth companies without selling in panic.
- Check sector balance: ask what would remain if technology-related businesses underperformed for several years while other sectors led the market.
- Set a rebalancing rule: choose a target range and a calendar or threshold for trimming, rather than making decisions solely after a sharp rally or sell-off.
There is no universal percentage at which QQQM becomes “too concentrated.” A financially secure investor with a diversified core, a long time horizon and tolerance for large swings may knowingly allocate more to it than an investor who needs stable, broad exposure for a near-term goal.
Who may find QQQM appropriate?
Investors seeking a deliberate growth tilt
QQQM may fit someone who specifically wants Nasdaq-100 mega-cap exposure, accepts that returns can be driven by a small group of companies and has the time and risk capacity to tolerate substantial drawdowns. The 0.15% expense ratio reported by Invesco is a relatively straightforward ongoing fund cost, but a low fee does not reduce concentration risk.
Best Value
- Twin-Ball Design : Hiacry gel pen features a double ball conical tip that reduces writing resistance and provides a stable and smooth writing experience. 0.7mm quick drying black ink ensures no jumping, leakage or seepage.
- Quick-Dry Long Lasting Ink：0.7mm black ink can slide effortlessly, dry immediately, & is not easily dirty. It has a high-capacity reservoir (up to 1300 meters), which is very suitable for left-handed & right-handed users.
- Sleek Design for Journaling & Planning: Engineered with a low center of gravity and precision tip for steady ink flow, these journaling pens excel at note-taking, sketching, planning, and more. They combine stylish pens with top-tier performance.
- Rolling Ball Design：The pocket clip with roll ball design can be easily attached to notebook pockets and binders, in addition, the fidget on the pen clip is also a small toy for your daily thinking to relieve stress.
- Comfortable Non-Slip Grip：The ergonomic pen barrel has a soft rubberized coating for a comfortable, non-slip grip, so you won't get fatigued even after long hours of writing.
Investors using it beside a diversified core
As a satellite, QQQM can express a view that large, innovative Nasdaq-listed companies will compound faster than the broader market. The investor must still account for the overlap with the core fund and size the position so that the combined exposure matches the intended risk.
Who should be cautious?
Investors looking for one-fund diversification
QQQM excludes financial companies and emphasizes the largest Nasdaq-listed non-financial businesses. That is not the same diversification as owning the full domestic market, international markets, smaller companies and a wider range of sectors.
Investors with short time horizons
Money needed soon is especially vulnerable to a concentrated equity sell-off. Quarterly rebalancing offers no protection against a rapid decline between adjustment dates, and the index caps do not prevent several large holdings from falling together.
Investors already heavy in mega-cap technology
If your retirement plan, broad-market funds and individual shares already contain substantial positions in the companies listed above, adding QQQM may increase duplication rather than improve diversification. In that situation, compare the combined company weights before buying more.
Questions to ask before buying
- What percentage of my total portfolio would QQQM represent after the purchase?
- How much exposure do I already have to the same companies through other funds?
- Would I still hold the position after a 30% to 50% decline in several growth stocks? This is a personal stress test, not a forecast.
- Am I seeking a targeted growth tilt or a broad equity foundation?
- Do the fund’s rebalancing rules and non-financial-company universe match my diversification needs?
Answering those questions turns “Is QQQM too concentrated?” into a portfolio-design decision. The fund is doing what its index is designed to do: place more weight on the largest Nasdaq-100 companies. The risk comes when an investor expects that design to behave like a broad-market core.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
