CAPE vs QQQ
DoubleLine Shiller CAPE US Equities ETF vs Invesco QQQ Trust, Series 1
Which is better, CAPE or QQQ?
Large Cap Value against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y and the full window. CAPE is less concentrated, with 26.3% of the fund in its ten largest positions against 46.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAPE | QQQ |
|---|---|---|
| Expense Ratio | 0.65% | 0.18%Best |
| AUM | $241M | $483.5B |
| Dividend Yield | 1.37% | 0.44% |
| Holdings | 307 | 107 |
| YTD Return | -0.53% | +15.18%Best |
| 1Y Return | -1.39% | +19.65%Best |
| 3Y Return (annualized) | +10.07% | +24.60%Best |
| 5Y Return (annualized) | - | +13.94% |
| Volatility (annualized) | 16.6%Best | 19.9% |
| Max Drawdown | -22.1%Best | -27.6% |
| $10,000 over 4.4 years | $13,346 | $19,886Best |
| Top 10 Weight | 26.3%Best | 46.5% |
| Fund Family | DoubleLine Funds | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Growth |
| Inception | Mar 31, 2022 | Mar 10, 1999 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Apr 5, 2022 to Sep 15, 2026 (4.4 years).
CAPE vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.4 years both funds cover.
CAPE vs QQQ Performance
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an ETF from DoubleLine Funds and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year CAPE returned -1.39% while QQQ returned +19.65%. Year to date, CAPE is down 0.53% versus a gain of 15.18% for QQQ.
Over three years, CAPE compounded at +10.07% per year against +24.60% for QQQ. Across the full 4-year window we track, QQQ has the edge at +16.91% annualized vs +6.78%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 16.6% for CAPE. 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 -22.1% for CAPE and -27.6% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CAPE charges 0.65% per year while QQQ charges 0.18%. On a $10,000 position that is $65 vs $18 annually, a gap of $47 per year that compounds over a long holding period. On income, CAPE currently yields 1.37% against 0.44% for QQQ.
Holdings Overlap
25.1% of CAPE's money is in holdings QQQ also owns. 22.1% of QQQ's money is in holdings CAPE also owns.
CAPE and QQQ share little of their money.
23 positions in common, counted across the 181 positions we hold weights for in CAPE and 102 in QQQ, against full books of 307 and 107.
What only one of them owns
Our book lists 73 positions for QQQ that do not appear in our book for CAPE (75.4% of the fund), and 155 for CAPE that do not appear in QQQ (74.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CAPE | Weight in QQQ | Difference |
|---|---|---|---|
| METAMeta Platforms Inc | 3.15% | 2.78% | 0.37% |
| GOOGLAlphabet Inc,class A | 2.33% | 3.36% | 1.03% |
| WMTWalmart, Inc. | 2.64% | 2.41% | 0.23% |
| GOOGAlphabet Inc | 1.85% | 3.13% | 1.28% |
| COSTCostco Wholesale Corp. | 2.22% | 1.84% | 0.38% |
| NFLXNetflix, Inc. | 0.81% | 1.37% | 0.56% |
| AMGNAmgen Inc. | 0.89% | 0.97% | 0.08% |
| PEPPepsico Inc. | 0.99% | 0.83% | 0.16% |
| TMUST-Mobile Us Inc Com Usd0.00001 | 0.83% | 0.82% | 0.01% |
| TTWOTake-Two Interactive Software, Inc. | 1.37% | 0.19% | 1.18% |
25.1% of CAPE is already inside QQQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAPE or QQQ?
CAPE has an expense ratio of 0.65% while QQQ charges 0.18%. QQQ is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, CAPE or QQQ?
Over the past year CAPE returned -1.39% vs +19.65% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (4 years), CAPE annualized +6.78% vs +16.91% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAPE or QQQ?
QQQ has been the more volatile fund at 19.9% annualized versus 16.6% for CAPE. Worst drawdown: CAPE -22.1% vs QQQ -27.6%.
Should I hold both CAPE and QQQ?
CAPE and QQQ have a monthly-return correlation of 0.73, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CAPE and QQQ?
25.1% of CAPE's money is in holdings QQQ also owns. 22.1% of QQQ's is in holdings CAPE also owns. They hold 23 positions in common, counted across the 181 positions we hold weights for in CAPE and 102 in QQQ.
Which pays a higher dividend, CAPE or QQQ?
CAPE yields 1.37% while QQQ yields 0.44%, so CAPE currently pays the higher dividend yield.
Is QQQ better than CAPE?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y and the full window. CAPE is less concentrated, with 26.3% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.