ETF Evaluator:
Invesco QQQ Equal Weight ETF (QEW)
Follow This ETF
(as of Aug 06)
Best Performing in Large Growth Over the Last Year
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ETF Details
Invesco QQQ Equal Weight ETF Overview
Invesco QQQ Equal Weight ETF (QEW) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Invesco launched the ETF in 2026.
The investment seeks to track the investment results (before fees and expenses) of the Nasdaq-100 Equal Weighted Index (the “underlying index”).
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The Nasdaq-100® is designed to include securities of 100 of the largest domestic and international non-financial companies listed on U.S. Nasdaq-affiliated listing exchanges based on market capitalization. The fund is non-diversified.
About Invesco QQQ Equal Weight ETF (QEW)
There are 3 members of the management team with an average tenure of 0.38 years: Peter Hubbard (2026), Michael Jeanette (2026) and Pratik Doshi (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: NASDAQ-100 Equal Weighted TR USD index with a weighting of 100%. Invesco QQQ Equal Weight ETF has 105 securities in its portfolio. The top 10 holdings constitute 12.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco QQQ Equal Weight ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco QQQ Equal Weight ETF has 7.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.1% There is 7.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco QQQ Equal Weight ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $20 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
QEW Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco QQQ Equal Weight ETF expense ratio is below average compared to funds in the Large Growth category. Invesco QQQ Equal Weight ETF has an expense ratio of 0.25%, which is 49% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco QQQ Equal Weight ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of July 2026, Invesco QQQ Equal Weight ETF returned -4.1%, which earned it a grade of C, as the Large Growth category had an average return of -3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco QQQ Equal Weight ETF has a trailing yield of 0.00%, which is below the 0.53% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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QEW Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| QEW Return (NAV) | -4.1% | 7.1% | na | na | na | na |
| QEW Return (Price) | -4.1% | 7.2% | na | na | na | na |
| NAV +/- Price Return | 0.006% | -0.113% | na | na | na | na |
| Large Growth Avg | -3.8% | 2.7% | 13.0% | 19.6% | 9.9% | 15.8% |
| QEW Grade (NAV) | C | A | na | na | na | na |
| +/- Category (NAV) | -0.3% | 4.4% | na | na | na | na |
| QEW Tax-Cost Ratio | na | na | na | na | na | na |
QEW Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QEW Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| QEW Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Large Growth Avg | 6.2% | 16.9% | 30.5% | 38.6% | -30.7% | 21.6% | 37.2% | 33.0% | -2.1% | 28.4% | 5.0% |
| QEW Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 20 Mil |
| Share Class Assets: | $ 20 Mil |
| Turnover: | na |
| Expense Ratio: | 0.25% |
| Index Fund: | Yes |
| Index Tracked: | NASDAQ-100 Equal Weighted TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.4 years | |||
| Average Tenure: 0.4 years | |||
| Managers (Year): Hubbard Peter (2026), Jeanette Michael (2026), Doshi Pratik (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 105 |
| % in Top 10 Holdings: | 12.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 7.6% |
Portfolio Allocation |
|
| Domestic Stock: | 92.1% |
| Foreign Stock: | 7.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | March 16, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.49% |
