Best Nasdaq ETF Australia (2026): NDQ vs HNDQ vs FANG
Nasdaq ETFs on the ASX compared: NDQ, HNDQ, QNDQ, JNDQ, FANG, QMAX and GNDQ on fees, size and returns, and how the Nasdaq 100 compares with the S&P 500.
The main Nasdaq ETF in Australia is BetaShares' NDQ: A$9.4 billion, 0.48% a year, tracking the Nasdaq 100 unhedged. HNDQ is the same index with the currency hedged, for 0.51%. Every other Nasdaq-themed fund on the ASX changes the recipe. QNDQ holds the 100 companies equally, JNDQ holds the next 100, QMAX sells options for income, GNDQ is geared and FANG holds just 10 stocks. For most people the choice is NDQ or HNDQ, and the bigger question is whether you want a Nasdaq fund at all rather than a broader S&P 500 one.
Nasdaq ETFs on the ASX
| ETF | What it holds | Fee (p.a.) | Net assets | 1 year | 3 years p.a. | 5 years p.a. |
|---|---|---|---|---|---|---|
| NDQ | Nasdaq 100, unhedged | 0.48% | A$9.4b | 17.45% | 24.40% | 16.74% |
| HNDQ | Nasdaq 100, currency hedged | 0.51% | A$948m | 22.38% | 25.99% | 13.68% |
| QNDQ | Nasdaq 100, equal weighted | 0.48% | A$20m | 12.99% | — | — |
| JNDQ | Nasdaq "Next Gen 100" (companies ranked 101–200) | 0.48% | A$14m | 17.20% | — | — |
| QMAX | Nasdaq 100 plus call options sold for income | 0.68% | A$46m | 13.02% | 18.51% | — |
| GNDQ | Nasdaq 100, geared (borrows to amplify) | 0.50% of gross assets | A$85m | 24.13% | — | — |
| FANG (Global X) | 10 large US tech companies, equal weighted | 0.35% | over A$1b | n/a | n/a | n/a |
Returns after fees to 30 September 2026 and net assets at 14 October 2026, from each issuer's fund page. "—" means the fund is too new. Past performance is not a reliable indicator of future performance.
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NDQ vs HNDQ: the currency question
NDQ and HNDQ hold the same 100 companies. The difference is the Australian dollar. NDQ's returns rise when the A$ falls against the US dollar and shrink when it rises. HNDQ removes most of that effect for an extra 0.03% a year.
To 30 September 2026, HNDQ was ahead over one and three years and NDQ was ahead over five, as the A$ moved. The same pattern shows up in S&P 500 funds (hedged vs unhedged S&P 500). Unhedged is the more common long-term holding, because the A$ tends to fall in global sell-offs, softening losses. Hedged suits investors who want the index's US-dollar return without the currency swings. Both NDQ and HNDQ distribute twice a year.
Nasdaq 100 vs S&P 500
The Nasdaq 100 is the 100 largest non-financial companies listed on the Nasdaq exchange (BetaShares). That makes it a technology fund in practice. At 30 September 2026, NDQ was 60.5% information technology, 14.7% communication services and 10.0% consumer discretionary, with just 0.2% in financials (BetaShares).
| NDQ (Nasdaq 100) | IVV (S&P 500) | |
|---|---|---|
| Companies | 100 | About 500 |
| Fee | 0.48% | 0.04% |
| Banks and financials | Almost none | Included |
| 1 year to 30 Sep 2026 | 17.45% | 10.09% |
| 5 years p.a. | 16.74% | 14.38% |
| 10 years p.a. | 21.57% | 16.16% |
NDQ from BetaShares; IVV from iShares.
The Nasdaq 100 has beaten the S&P 500 over the past decade because US tech led the market. That's the same reason it carries more risk: when tech sells off, a fund that's 60% technology falls harder than the broader index. The fee gap is real too. On $50,000, NDQ costs $240 a year against $20 for IVV.
There's also a lot of overlap. The S&P 500's biggest companies, Nvidia, Apple, Alphabet, Microsoft and Amazon, are also the Nasdaq 100's biggest. Holding both NDQ and IVV mostly doubles up on the same giants (how much ETF overlap is too much).
The variants: QNDQ, JNDQ, QMAX, GNDQ and FANG
- QNDQ holds each Nasdaq 100 company at an equal weight, so Nvidia counts the same as the 100th company. It reduces dependence on the giants. Its index returned 10.07% a year over five years against 17.16% for the standard Nasdaq 100 (BetaShares), because the giants led.
- JNDQ holds the 100 companies ranked just below the Nasdaq 100, the potential next generation. It's a different, smaller-company bet, not a substitute for NDQ.
- QMAX sells call options over the Nasdaq 100 and pays the premiums out monthly. That gives you more income but caps gains in strong rallies. It returned 13.02% over the year to September against NDQ's 17.45% (BetaShares). It's the same trade-off as Australian covered-call funds (dividend ETF comparison).
- GNDQ borrows to amplify the Nasdaq 100's moves. It returned 24.13% in a year the index returned 17.90%, but gearing magnifies falls just as much (geared ETFs explained).
- FANG holds 10 US tech companies at roughly 10% each: Palantir, Meta, Microsoft, Nvidia, Broadcom, Amazon, Alphabet, Micron, Apple and Netflix, as at 14 October 2026 (Global X). It's cheaper than NDQ at 0.35%, but far more concentrated. One stock's fall moves the fund by around a tenth of that fall.
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Which Nasdaq ETF should you choose?
- You want the Nasdaq 100 as a long-term growth tilt: NDQ, or HNDQ if you'd rather not carry the currency risk.
- You want US shares but not a tech bet: consider an S&P 500 ETF instead, at a fraction of the fee (best S&P 500 ETF).
- You want income from tech: QMAX, accepting lower growth.
- You want maximum concentration in the tech giants: FANG, sized as a small satellite position.
Most investors who use NDQ keep it as a minority satellite next to a broad core like DHHF, VGS or IVV, rather than as their whole portfolio (ETF vs shares: core and satellite).
Frequently asked questions
What is the best Nasdaq ETF in Australia?
NDQ is the largest and most widely held, with A$9.4 billion in net assets at 14 October 2026 and a 0.48% annual fee, tracking the Nasdaq 100 unhedged. HNDQ (0.51%) is the currency-hedged version. Other Nasdaq-themed ETFs, such as QNDQ, JNDQ, QMAX, GNDQ and FANG, change the weighting, add options or gearing, or hold far fewer stocks.
NDQ or IVV: which is better?
They do different jobs. NDQ holds 100 mostly tech companies for 0.48% a year; IVV holds about 500 US companies across all sectors for 0.04%. NDQ returned more over the ten years to 30 September 2026 (21.57% vs 16.16% a year), but it's far more concentrated in technology and falls harder in tech sell-offs.
Should I buy NDQ or HNDQ?
Same companies, different currency exposure. NDQ is unhedged, so its returns rise when the Australian dollar falls. HNDQ is hedged to remove most currency movement, for 0.03% more a year. To 30 September 2026, HNDQ led over one and three years and NDQ over five. Neither is reliably better.
Can I buy QQQ in Australia?
QQQ is US-listed and not quoted on the ASX. You can buy it through a broker with US market access, but it's US-domiciled, which means a W-8BEN form and potential US estate tax. NDQ tracks the same Nasdaq 100 index and is listed and domiciled in Australia.
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- Which ASX ETFs hold Nvidia, Tesla, AMD and Alphabet?
- How to invest in US shares from Australia
- Geared ETFs explained
- All ETF and broker comparisons
This article is for general information only and does not constitute financial, tax or legal advice. Individual circumstances vary. Consult a registered tax agent or licensed financial adviser before making decisions based on this information.
Written by
Mahi PatilSoftware engineer & personal finance enthusiast · Melbourne, Australia
Built Dolaro.com.au to create accurate, free Australian finance tools. Invests in Australian and global ETFs and writes about the topics researched firsthand. More about Mahi →