BCV vs QQQ
Bancroft Fund Ltd vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. BCV delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | BCV | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.11% | 0.18% | |
| AUM | $177M | $455.8B | |
| Dividend Yield | 3.46% | 0.41% | |
| Holdings | 86 | 108 | |
| YTD Return | +14.95% | +17.85% | |
| 1Y Return | +30.43% | +26.45% | |
| 3Y Return (annualized) | +20.36% | +26.07% | |
| 5Y Return (annualized) | +3.33% | +15.16% | |
| Volatility (annualized) | 16.7% | 30.6% | |
| Max Drawdown | -99.4% | -83.0% | |
| Fund Family | Gabelli Funds | Invesco (US) | |
| Category | Convertible | Equity | |
| Inception | Oct 4, 1971 | Mar 10, 1999 |
BCV vs QQQ Performance
Bancroft Fund Ltd (BCV) is a ETF from Gabelli Funds and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year BCV returned +30.43% while QQQ returned +26.45%. Year to date, BCV is up 14.95% versus a gain of 17.85% for QQQ.
Over three years, BCV compounded at +20.36% per year against +26.07% for QQQ; over five years the annualized figures are +3.33% and +15.16% respectively. Across the full 26-year window we track, QQQ has the edge at +13.09% annualized vs +2.66%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 16.7% for BCV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -99.4% for BCV and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BCV charges 1.11% per year while QQQ charges 0.18%. On a $10,000 position that is $111 vs $18 annually, a gap of $93 per year that compounds over a long holding period. On income, BCV currently yields 3.46% against 0.41% for QQQ.
Holdings Overlap
BCV and QQQ share 1 holdings out of 133 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in BCV | Weight in QQQ | Difference |
|---|---|---|---|
| MCHP | 2.54% | 0.20% | 2.34% |
Frequently Asked Questions
Which is cheaper, BCV or QQQ?
BCV has an expense ratio of 1.11% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $93 per year of difference.
Which performed better, BCV or QQQ?
Over the past year BCV returned +30.43% vs +26.45% for QQQ, so BCV leads on 1-year performance. Over the longest common window we track (26 years), BCV annualized +2.66% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, BCV or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.7% for BCV. Worst drawdown: BCV -99.4% vs QQQ -83.0%.
Should I hold both BCV and QQQ?
BCV and QQQ have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BCV and QQQ?
BCV and QQQ share 1 common holdings with a 0.2% weight overlap. Combined, they hold 133 unique securities.
Which pays a higher dividend, BCV or QQQ?
BCV yields 3.46% while QQQ yields 0.41%, so BCV currently pays the higher dividend yield.
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