QQQ vs. MGK: How These Two Tech-Focused Growth ETFs Compare for Investors

Katie Brockman, The Motley Fool

November 17, 2025 5 min read

• Vanguard Mega Cap Growth ETF charges a lower expense ratio than Invesco QQQ Trust, Series 1, but QQQ is significantly larger and more liquid.

• QQQ holds more stocks and offers slightly higher sector exposure to communication services, while both funds are heavily tech-weighted.

• Recent performance and risk metrics for both ETFs are similar, with MGK showing a marginally higher five-year return and drawdown.

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Both the Vanguard Mega Cap Growth ETF (NYSEMKT:MGK) and Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) provide exposure to the largest U.S. growth companies, with a major tilt toward technology, specifically. This comparison looks at cost, returns, risk, portfolio makeup, and key practical differences to help clarify which fund may appeal to different investor needs.

Beta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

MGK offers a significantly lower expense ratio, which can be an advantage for investors who are fee-conscious. QQQ, in contrast, delivers a slightly higher dividend payout, which may appeal to those seeking more income from their growth allocation.

Launched in 1999, QQQ tracks the NASDAQ-100 Index and spans 101 holdings, with a sector mix of 54% technology, 17% communication services, and 13% consumer cyclical. Its largest positions are Nvidia, Microsoft, and Apple, each representing less than 10% of total assets. The fund’s immense scale and long track record make it one of the most traded ETFs in the world.

MGK, by contrast, focuses on the 66 largest U.S. growth stocks. It has similar sector allocations to QQQ, with 57% of the fund devoted to technology, 15% to communication services, and 13% to consumer cyclical. Its top holdings mirror QQQ’s, but with slightly larger allocations to each.

Neither fund includes notable quirks or nonstandard features, and both offer broad exposure to U.S. mega cap growth — though MGK’s smaller roster may result in more concentrated exposures.

For more guidance on ETF investing, check out the full guide at this link.

QQQ and MGK both target growth stocks with a specific focus on technology companies. More than half of both ETFs are dedicated to tech stocks, which can lead to above-average returns during tech rallies but also steeper drawdowns amid periods of volatility.