BlackRock, State Street File for First ETFs to Challenge Invesco's QQQ -- WSJ

Dow Jones
04/07

By Jack Pitcher

Invesco's Nasdaq 100-tracking QQQ exchange-traded fund is finally getting some competition.

BlackRock filed paperwork with regulators for a rival ETF tracking the tech-heavy stock index on Monday, and State Street followed suit a day later. Issues related to licensing Nasdaq's namesake index prevented asset managers from launching competing funds sooner.

QQQ is among the most successful funds in history. It has posted a 10.1% annualized return since its 1999 launch, attracting some $370 billion in assets along the way, according to FactSet.

The success of BlackRock and State Street's funds will likely come down to fees, which they have not yet disclosed. QQQ has a 0.18% annual expense ratio, and Invesco's cheaper version aimed at individual investors charges 0.15%.

Invesco shares have dropped about 7% since BlackRock's filing on Monday.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 07, 2026 11:34 ET (15:34 GMT)

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