Performance data is updated to 31 May 2026.
BetaShares Nasdaq 100 Equal Weight ETF (QNDQ) — Review & Analysis
QNDQ is the equal-weighted version of the Nasdaq 100 — holding the same 100 companies as NDQ but with each stock weighted near 1% instead of market-cap weighted. AUM is $19.80 million as at May 2026 with a 0.48% p.a. management fee — matching standard NDQ on fee. Compare QNDQ across the tech cohort on our tech ETF page or use the Compare ETFs tool to put QNDQ vs NDQ side-by-side.
Equal weighting fundamentally changes the Nasdaq 100 exposure. Standard NDQ is dominated by Apple, Microsoft, Nvidia, Amazon, Meta and Google — the top 10 typically make up 50%+ of the portfolio. QNDQ caps each holding near 1%, meaning smaller Nasdaq names like Marvell Technology, Costco, PepsiCo and Cisco get equal weight to the mega-caps. The result is more diversified exposure with less concentration risk on individual mega-cap performance.
The trade-off depends on which segment of the Nasdaq leads. In periods when mega-caps drive the index (like 2023-2024 with the Magnificent 7 dominance), QNDQ underperforms NDQ; in periods when mid-cap Nasdaq names lead (less common but periodically), QNDQ outperforms. The 0.48% fee matches NDQ, meaning the choice is purely on construction philosophy rather than cost.
QNDQ is unhedged. The fund offers a different shape of Nasdaq exposure that has appealed to investors concerned about mega-cap concentration risk inside standard market-cap-weighted indices. Our active vs passive ETFs guide covers how factor and weighting alternatives have performed against cap-weighted benchmarks.
Performance (% return)
Investment Focus
Themes
Exposure Regions
Portfolio Breakdown
| Company Name | % assets |
|---|---|
| MARVELL TECHNOLOGY INC | 3.00% |
| ARM HOLDINGS PLC | 2.40% |
| ADVANCED MICRO DEVICES INC | 2.10% |
| INTEL CORP | 2.10% |
| MICRON TECHNOLOGY INC | 1.90% |
| SEAGATE TECHNOLOGY HOLDINGS PL | 1.90% |
| WESTERN DIGITAL CORP | 1.60% |
| DATADOG INC | 1.60% |
| FORTINET INC | 1.50% |
| QUALCOMM INC | 1.50% |
| Sector | % assets |
|---|---|
| Information Technology | 39.7% |
| Industrials | 13.9% |
| Health Care | 11% |
| Consumer Discretionary | 11% |
| Communication Services | 9.2% |
| Consumer Staples | 7% |
| Utilities | 4% |
| Energy | 2.1% |
| Materials | 1% |
| Other | 1% |
Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| BEST | ETFS US Quality ETF | +15.75% |
Disclaimer
The information provided on ReviewETF.com.au is intended for general information and comparison purposes only. It is compiled and presented on a best-endeavours basis from publicly available sources, but we do not guarantee its accuracy, completeness, timeliness, or suitability for any particular purpose.
No content on this website constitutes financial advice, investment recommendation, solicitation, or an offer to buy or sell any securities. Past performance is not indicative of future results, and all investments carry risk, including the potential loss of capital.
The point of truth for any ETF is always the official product disclosure statement (PDS), website, and announcements from the ETF issuer/provider (e.g., Vanguard, BetaShares, iShares, VanEck, etc.). We link directly to these primary sources on each individual ETF page wherever possible—please verify all details there before making any decisions.
ReviewETF.com.au, its owner (Joshua), and any associated entities disclaim all liability for any loss or damage arising from the use of, or reliance on, information contained on this site. Users should seek independent professional financial advice tailored to their personal circumstances.
This website may contain links to third-party sites; we are not responsible for their content or privacy practices.
Last updated: January 2026
