Key Highlights

  • NDQ (ASX:NDQ) is the unhedged Nasdaq 100 ETF, with fund size of $9.11 billion.
  • HNDQ (ASX:HNDQ) holds the same index with the US dollar hedged to AUD, at fees of 0.51%.
  • QMAX (ASX:QMAX) writes calls over Nasdaq 100 exposure, with fees of 0.68%.

Three ASX-listed funds give different forms of Nasdaq 100 stock exposure. NDQ (ASX:NDQ) traded at $59.62 during the trading session on 30 October 2026, down 2.00%. HNDQ (ASX:HNDQ) traded at $55.43, down 2.29%, and QMAX (ASX:QMAX) traded at $29.40, down 1.54%. The three share a stock universe, but they differ in currency and income treatment.

NDQ: Unhedged and Large

NDQ holds 101 companies, led by Nvidia at 8.35%, Apple at 7.38% and Microsoft at 5.78%. Technology is 60.23% of the portfolio. Fund size is $9.11 billion, the largest of the three by far, and fees are 0.48%. The fund is unhedged, so US dollar moves reach the Australian dollar return.

HNDQ: The Hedged Version

HNDQ holds the same 101 companies and the same leading weights, with the currency hedged. Fund size is $937.54 million and fees are 0.51%. Turnover is 8.19%, reflecting periodic adjustments to the index.

QMAX: The Call-Writing Version

QMAX holds two underlying Nasdaq 100 ETFs, the Invesco NASDAQ 100 ETF at 72.04% and the Betashares Nasdaq 100 ETF at 27.95%, and writes call options over the exposure. Technology is 59.97%. Fund size is $45.22 million and fees are 0.68%. No annual yield is quoted for this fund.

Comparing the Nasdaq Exposure

NDQ and HNDQ hold the same stocks, so their gap is the currency and their size differs. QMAX owns the stocks through other ETFs and adds an options overlay, which gives up part of the upside to produce income.

Which Nasdaq Exposure Fits

NDQ gives unhedged Nasdaq 100 exposure at scale, HNDQ the same stocks in Australian dollars and QMAX a version that trades some upside for option income. The three share a technology-led portfolio, and the choice comes down to currency and income preferences.