Betashares Nasdaq 100 Yield Maximiser ETF (QMAX) Review & Analysis

MER · #380 of 514AUM · #348 of 5081Y Return · Top 50%3Y Return · Top 50%
What's new this monthData to 30 September 2026
  • +5.5% in September (total return), ahead of the median international shares ETF at +0.0%.
  • Investors added a net $4.3m (10.2% of the fund).
  • The unit price closed the month at $30.74, 2% below its 12-month high (range $26.65 to $31.26).

About QMAX

QMAX is an international shares ETF from Betashares, listed on the ASX since October 2022. With $47m under management it is number 171 of 254 international shares ETFs by size. The management fee is 0.68% a year, about $68 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.

Its largest holdings are NVIDIA CORP, APPLE INC and MICROSOFT CORP, and the top 10 make up 47% of the fund. By sector it leans towards information technology (53%) and communication services (16%).

Over the past year it returned +11.3%, against +10.4% for the median international shares ETF. With its focus on technology, dividends & income, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

QMAX distributions and dividend dates

QMAX pays distributions monthly, with payment about 15 days after the ex-date.

The latest distribution was $0.1518 per unit (0% franked), ex-distribution on 2 November 2026 and paid on 17 November 2026. To receive it you need to own QMAX before the ex-date.

Its distribution yield over the past 12 months is about 7.5%. Distributions vary and past payments are not a guide to future ones.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare QMAXCheck overlapBetashares website ↗

Compare QMAX with

QMAXvsNDQ
Betashares Nasdaq 100 ETF
Fee0.68%0.48%
1 year+11.3%+16.6%
5 yrs p.a.–+15.3%
Size$47m$9.5bn
Same holdingsNo holdings data
Full comparison →
QMAXvsHNDQ
Betashares Nasdaq 100 Currency Hedged ETF
Fee0.68%0.51%
1 year+11.3%+22.3%
5 yrs p.a.–+13.1%
Size$47m$961m
Same holdingsNo holdings data
Full comparison →
QMAXvsUMAX
Betashares S&P 500 Yield Maximiser ETF
Fee0.68%0.79%
1 year+11.3%+8.9%
5 yrs p.a.–+9.4%
Size$47m$331m
Same holdingsNo holdings data
Full comparison →
QMAXvsLNAS
Global X Ultra Long Nasdaq 100 Complex ETF
Fee0.68%1.00%
1 year+11.3%+37.4%
5 yrs p.a.–+12.6%
Size$47m$83m
Same holdingsNo holdings data
Full comparison →

QMAX price by TradingView

Stock CodeQMAX
Fund ManagerBetashares
Asset ClassInternational shares
AUM$47m
MER (%)0.68%
Net flows (Sep)+$4.3m
Last Price$30.74
52-Week Range$26.65 – $31.26
Bid/Ask Spread0.17%
Listing Date07/10/2022
ExchangeASX
Index trackedNasdaq-100 Index
Issuer websiteBetashares ↗

Performance (% return)

0%19%39%58%1M5.5%1Y11.3%3Y57.8%5Yn/a
1 month+5.5%
1 year+11.3%
3 years p.a.+16.4%
5 years p.a.–

$10,000 invested…

1 year ago$11,1263 years ago$15,782

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

QMAX at a glance: strengths and things to watch

👍 Strengths

  • Ahead of its peers. +16.4% a year over 3 years, against +15.4% for the median international shares ETF.

⚠️ Things to watch

  • Small fund. With $47m under management, it is more at risk of being closed or merged than larger funds, and trading can be thinner.
  • Income comes with a trade-off. Selling options boosts income but caps how much it can rise in strong markets.

Worked out from QMAX's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

Joshua StegaetfadviserTrend check
Base since 23 Oct 2026

QMAX is in a base. Here's why that matters.

QMAX's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 daysHow base and trend works →See every ETF's stage →Visit etfadviser.com.au →
Oct 25Jan 26Apr 26Jul 26Oct 26
UptrendBaseDowntrend

QMAX weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

Investment Focus

Exposure Regions

US

Themes & Sectors

TechnologyDividends & incomeActive ETFs

Portfolio Breakdown

Top 10 holdings (47.0% of the fund)

SymbolCompany% assets
8.40%
7.40%
5.80%
5.00%
4.20%
4.10%
3.30%
3.10%
2.90%
2.80%

Sector breakdown

  • Information Technology52.9%
  • Communication Services16.0%
  • Consumer Discretionary13.4%
  • Health Care5.4%
  • Consumer Staples4.6%
  • Industrials4.4%
  • Utilities1.4%
  • Materials1.1%
  • Other0.8%

Holdings from the issuer's published portfolio. Compare QMAX's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

CodeNameSame holdingsMERAUM1Y3Y p.a.5Y p.a.
NDQBetashares Nasdaq 100 ETF–0.48%$9.5bn+16.6%+23.8%+15.3%
HNDQBetashares Nasdaq 100 Currency Hedged ETF Currency hedged–0.51%$961m+22.3%+25.3%+13.1%
UMAXBetashares S&P 500 Yield Maximiser ETF Covered call–0.79%$331m+8.9%+13.4%+9.4%
LNASGlobal X Ultra Long Nasdaq 100 Complex ETF–1.00%$83m+37.4%+42.2%+12.6%
SNASGlobal X Ultra Short Nasdaq 100 Complex ETF–1.00%$67m−40.9%−43.3%−34.1%
QYLDGlobal X Nasdaq 100 Covered Call ETF Covered call–0.60%$30m+13.7%+10.5%–

Same holdings is the share of QMAX's money in companies the other ETF also holds, weighted by size. No other ETF shares much with QMAX, so these are ETFs in the same category. See every ETF like QMAX →

QMAX vs its closest alternatives

What actually differs between QMAX and the ETFs most like it. Data to 30 Sep 2026.

NDQ Betashares Nasdaq 100 ETF

  • NDQ is cheaper (0.48% vs 0.68%), worth about $13,047 on $100,000 over 20 years.
  • Over 3 years, a year: QMAX +16.4%, NDQ +23.8% (NDQ ahead by 7.3 percentage points).
  • NDQ is much larger ($9.5bn vs $47m), which usually means tighter trading spreads.
  • Different structure: QMAX is a covered call fund, NDQ is a standard fund.

Compare QMAX and NDQ side by side →

HNDQ Betashares Nasdaq 100 Currency Hedged ETF

  • HNDQ is cheaper (0.51% vs 0.68%), worth about $11,060 on $100,000 over 20 years.
  • Over 3 years, a year: QMAX +16.4%, HNDQ +25.3% (HNDQ ahead by 8.9 percentage points).
  • HNDQ is much larger ($961m vs $47m), which usually means tighter trading spreads.
  • Different structure: QMAX is a covered call fund, HNDQ is currency hedged.

Compare QMAX and HNDQ side by side →

UMAX Betashares S&P 500 Yield Maximiser ETF

  • QMAX is cheaper (0.68% vs 0.79%), worth about $6,980 on $100,000 over 20 years.
  • Over 3 years, a year: QMAX +16.4%, UMAX +13.4% (QMAX ahead by 3.0 percentage points).
  • UMAX is about 7 times larger ($331m vs $47m), which usually means tighter trading spreads.

Compare QMAX and UMAX side by side →

General information only. Past performance is not a reliable indicator of future performance.

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QMAX FAQs

What is the fee for QMAX?

QMAX charges a management fee (MER) of 0.68% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is QMAX?

QMAX had $47m in funds under management as at 30 September 2026.

How has QMAX performed?

QMAX returned +11.3% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +16.4% a year. Past performance is not a reliable indicator of future performance.

Who manages QMAX?

QMAX is managed by Betashares and has been listed since October 2022.

Does QMAX pay monthly distributions?

Yes. QMAX pays a distribution every month.

When is the next QMAX distribution?

Based on its usual schedule, QMAX's next distribution should go ex around the start of December, with payment about 15 days later. Dates can move, so check Betashares' announcements to confirm.

What is QMAX's dividend yield?

QMAX's distribution yield over the past 12 months was about 7.5%. Yields change with the unit price and each payment, and are not a forecast.

Is QMAX currency hedged?

No, QMAX is unhedged. Its returns move with the Australian dollar: a falling dollar adds to returns and a rising dollar reduces them.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Betashares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.