BlackRock launches iShares Nasdaq-100 ETF to rival QQQ

BlackRock launched the iShares Nasdaq 100 ETF (IQQ) on July 9. The ETF tracks the Nasdaq-100 index and will trade on the iShares platform. The fund’s net expense ratio is 12 basis points; BlackRock is temporarily waiving two basis points, marketing the ETF at 10 basis points.

The Nasdaq-100 has large weightings in technology, consumer discretionary, healthcare and industrials. IQQ provides concentrated exposure to large-cap companies in those sectors, including firms developing artificial intelligence products and services.

Elise Terry, U.S. Head of iShares at BlackRock, described IQQ as “IQQ enhances our ability to offer investors access to the Nasdaq-100 with iShares ETFs — providing complementary strategies that allow them to align their portfolios with their objectives.” She added the ETF would be “supported by the liquidity, market quality, and scale of the iShares platform.”

State Street launched the SPDR Portfolio Nasdaq 100 ETF (QNDX) in June. Invesco’s QQQ remains the largest Nasdaq-100 product; as of June 29, 2026, QQQ’s one-year cumulative return was 33.98%. In late 2025, QQQ converted from a unit investment trust into an open-ended ETF and trimmed its fee by two basis points.

IQQ’s fee places it in direct price competition with other Nasdaq-100 ETFs. Market participants and financial advisers will monitor fund flows, liquidity and tracking differences among IQQ, QNDX and QQQ in the coming weeks.