$QQQM vs $VOO: Weighing Nasdaq-100 Concentration Against Broad S&P 500 Diversification Key Takeaways Invesco NASDAQ 100 ETF (QQQM) tracks the Nasdaq-100 Index, offering concentrated exposure to 100 large non-financial companies with a heavy tilt toward technology and growth sectors, while Vanguard S&P 500 ETF (VOO) tracks the broader S&P 500 Index with approximately 500 holdings across all major sectors. QQQM carries a higher expense ratio of 0.15% compared to VOO’s 0.03%, reflecting its specialized focus versus VOO’s cost-efficient broad-market approach.