NEW YORK, August 31, 2026, 16:32 EDT
- QQQM ended the session at $295.08, a gain of 0.03%, before rising to $295.27 by 16:10 EDT.
- Chipmakers account for 19.55% of the latest portfolio, amplifying the impact of varied moves in AI-related stocks.
- The portfolio’s top 10 holdings comprise 45.63%, and it has a price-to-earnings ratio of 35.61.
The Invesco NASDAQ 100 ETF NASDAQ:QQQM closed Monday at $295.08, rising 0.03%. Strength in chip stocks balanced out losses among two of its biggest components market data.
Concentration turns a flat close into an AI split
Regular close: August 31, 2026, 16:00 EDT. After-hours quote: 16:10 EDT. Holdings source date: August 12, 2026. Performance through June 30, 2026.
Concentration gauge
Nvidia, Micron, AMD and Broadcom. A 5% parallel move implies roughly ±0.98 percentage point before all other effects.
Largest exposures · August 12 holdings
Session crosscurrents
Moves at Aug. 31 regular close, 16:00 EDT.
Trading activity
Aug. 31, 2026 regular session. Activity was lighter than the displayed average.
Structure and income
Fund snapshot checked Aug. 31, 2026.
Return comparison · through June 30, 2026
| Series | YTD | 1 year | 3 years annualized |
|---|---|---|---|
| QQQM NAV | 20.22% | 34.17% | 26.66% |
| Nasdaq-100 | 20.31% | 34.38% | 26.83% |
| S&P 500 | 10.21% | 22.32% | 20.61% |
| Russell 1000 Growth | 5.33% | 17.71% | 22.58% |
Invesco/FactSet total-return data. Past performance is not a forecast.
Analyst read-through from major holdings
S&P Global consensus and average-target upside. These are stock calls, not a QQQM recommendation.
What moves it next
Broadcom, a 3.11% holding, reports fiscal third-quarter results. Its AI revenue and outlook can test the chip-led side of QQQM’s return.
Risk lens
Nearly one-fifth of assets sits in four chipmakers. A valuation reset or synchronized semiconductor decline can outweigh gains elsewhere.
Nvidia NASDAQ:NVDA climbed 1.54%, with Micron Technology NASDAQ:MU up 2.64%. Apple NASDAQ:AAPL slipped 0.89%, and Microsoft NASDAQ:MSFT declined 1.22%.
The split is significant as those four stocks account for 25.76% of QQQM. With the stocks moving in opposite directions, the fund remained almost flat even with a substantial divergence within its holdings.
| QQQM session snapshot | August 31, 2026 | Investor read |
|---|---|---|
| Regular close | $295.08; +0.03% | Headline was steady despite wide moves |
| After-hours | $295.27; +0.06% at 16:10 EDT | Minimal moves after market |
| Day range | $293.63–$295.40 | Intraday movement reached 0.60% |
| Volume | 2.31 million shares | Roughly 73% of 3.17 million average |
| 52-week range | $228.75–$308.21 | Closed 4.3% beneath the high |
QQQM manages $105.14 billion in assets and has an annual fee of 0.15%. With a price-to-earnings ratio of 35.61, there is less tolerance for weaker profits.
| Fund or benchmark | YTD return | One-year return | Three-year annualized |
|---|---|---|---|
| QQQM NAV | 20.22% | 34.17% | 26.66% |
| QQQM market price | 20.11% | 34.10% | 26.64% |
| Nasdaq-100 Index | 20.31% | 34.38% | 26.83% |
| S&P 500 Index | 10.21% | 22.32% | 20.61% |
| Russell 1000 Growth Index | 5.33% | 17.71% | 22.58% |
June data indicates QQQM outperformed the broader stock market by about 10 points in 2026. The outperformance coincided with increased weighting toward high-priced growth stocks.
The leading 10 holdings currently account for 45.63% of assets, with four semiconductor companies making up 19.55%—Nvidia alone represents 8.54%.
| Key QQQM holding | Portfolio weight | August 31 move | Approx. weighted effect |
|---|---|---|---|
| Nvidia NASDAQ:NVDA | 8.54% | +1.54% | +0.13 percentage point |
| Apple NASDAQ:AAPL | 6.99% | -0.89% | -0.06 percentage point |
| Microsoft NASDAQ:MSFT | 5.76% | -1.22% | -0.07 percentage point |
| Micron Technology NASDAQ:MU | 4.47% | +2.64% | +0.12 percentage point |
Nasdaq research indicated that investors in AI are prioritizing firms delivering short-term returns. According to the findings, 10 stocks accounted for 52% of the index’s weighting in 2025 Nasdaq Index Insights.
QQQM provides wide-ranging exposure with concentrated performance leadership. This balance has advantages and drawbacks.
Analysts are maintaining a positive outlook on several major holdings, though their projections for upside potential differ significantly, notably between Apple and leading chipmakers.
| Analyst recommendations for top QQQM components | Consensus | Analysts | Average target | Implied upside | Source date |
|---|---|---|---|---|---|
| Nvidia | Strong Buy | 60 | $325.99 | 47.58% | Aug. 30 |
| Apple | Buy | 44 | $324.45 | 2.40% | Aug. 20 |
| Microsoft | Strong Buy | 55 | $569.45 | 12.25% | Aug. 17 |
| Micron | Strong Buy | 47 | $1,515 | 58.23% | Aug. 25 |
Broadcom NASDAQ:AVGO, accounting for 3.11% of the portfolio, is the next confirmed catalyst. The company is set to issue its quarterly earnings after Wednesday’s market close company announcement.
Risks: If semiconductors retreat, almost 20% of the fund could be affected. Steep valuations, concentrated index weights, and a beta of 1.23 may increase downside risk.
Related articles: NASDAQ:NVDA
