Why QQQM Is Riskier Than Its Low-Cost, Set-It-and-Forget-It Reputation Suggests

bopav / iStock via Getty Images · bopav / iStock via Getty Images Quick Read Invesco NASDAQ 100 ETF (QQQM) has returned 94% over five years with a 0.15% expense ratio, but its top 10 holdings account for 47% of the portfolio, with Nvidia alone representing 8.7%, Apple 7.4%, Microsoft 5.8%, and Alphabet 6.8%, creating severe concentration risk where a 20% decline in Nvidia would meaningfully impact fund NAV. The semiconductor subsector—spanning Nvidia, Broadcom (AVGO), Micron (MU), AMD (AMD), Lam Researc ...