Rankings / QQA
Invesco Nasdaq-100 Income Advantage ETF
8.0
Overall Score
QQA is an actively managed Invesco fund of funds that holds stocks and ETFs to mirror the Nasdaq-100, 121 positions. It earns option income through equity-linked notes (ELNs), which Invesco describes as giving upside participation and downside protection. About 20% of assets sit in an Invesco government money market fund. It pays monthly and charges 0.29%.
The fund holds Nasdaq-100 stocks (passively managed) and layers an active option income overlay on top. The overlay is assembled through equity-linked notes that layer covered calls on top of cash and equity positions. The strategy adjusts to market conditions, potentially providing some downside protection. Premium collected is distributed monthly. The strategy does not eliminate market declines: the fund still participates in downturns, though historically at a lower rate than the Nasdaq-100.
Down capture of 63% against 76% up capture is the best ratio of the Nasdaq income funds, over a record of only 26 months.
Cumulative total return of QQA against QQQ, distributions reinvested.
Cumulative total return, rebased to 0% at the start of each period. Distributions reinvested. Data through end of previous month.
Calendar-year total return, distributions reinvested.
| Year | QQA | QQQ |
|---|---|---|
| 2026 YTD | +16.43% | +20.83% |
| 2025 | +17.19% | +20.77% |
| 2024 * | +9.17% | +8.85% |
Historical years are frozen. YTD is refreshed monthly. * Partial year: return from fund inception to December 31.
Composite score from six weighted criteria, measured since inception.
Performance since inception against the benchmark.
How much of the benchmark drawdown the fund absorbed.
How much of the benchmark rally the fund kept.
Frequency of distribution cuts below 85% of the previous payment.
Inversely proportional to the annual management fee.
Assets under management on a log scale.
Sector and geographic composition of QQA underlying holdings.
| # | Symbol | Name | Weight |
|---|---|---|---|
| 1 | NVDA | NVIDIA | 6.46% |
| 2 | AAPL | Apple | 5.54% |
| 3 | MSFT | Microsoft | 4.44% |
| 4 | MU | Micron Technology | 3.83% |
| 5 | AMD | Advanced Micro Devices | 3.29% |
| 6 | AMZN | Amazon.com | 3.16% |
| 7 | META | Meta Platforms | 2.42% |
| 8 | GOOGL | Alphabet | 2.32% |
| 9 | SPCX | Space Exploration Technologies | 2.24% |
| 10 | TSLA | Tesla | 2.24% |
Holdings data from fund disclosures, updated periodically. Percentages may not sum to 100% due to cash, options, and other positions not shown.
The same six criteria, applied to different trailing periods. Pro subscribers see the full breakdown.
Since inception
8.0
3 years
8.0
1 year
8.3
3 months
8.0
How has QQA ranked across inception, 3 years, 1 year, and 3 months? Pro subscribers can compare a fund's trajectory over every window, across all 28 funds.
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Expense Ratio
0.390%
Inception Date
July 1, 2024
Benchmark
QQQ
Category
Covered Call - Nasdaq 100
Distribution Frequency
Monthly
Maturity Rating
4/5 stars
Scores calculated using CoveredRank methodology. Every formula is published and reproducible.
See full methodology→Disclaimer: CoveredRank provides independent educational content only. This is not financial advice. Please consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results.