CARY vs QQQ
Angel Oak Income ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. CARY offers more diversification with 795 holdings.
Side-by-Side Comparison
| Metric | CARY | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.18% | |
| AUM | $1.4B | $496.3B | |
| Dividend Yield | 5.95% | 0.44% | |
| Holdings | 795 | 108 | |
| YTD Return | +2.48% | +16.64% | |
| 1Y Return | +5.13% | +27.27% | |
| 3Y Return (annualized) | +7.34% | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 2.7% | 30.6% | |
| Max Drawdown | -1.7% | -83.0% | |
| Fund Family | Angel Oak Capital Advisors | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Nov 7, 2022 | Mar 10, 1999 |
CARY vs QQQ Performance
Angel Oak Income ETF (CARY) is a ETF from Angel Oak Capital Advisors and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CARY returned +5.13% while QQQ returned +27.27%. Year to date, CARY is up 2.48% versus a gain of 16.64% for QQQ.
Over three years, CARY compounded at +7.34% per year against +25.96% for QQQ. Across the full 4-year window we track, QQQ has the edge at +13.03% annualized vs +7.13%. 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 2.7% for CARY. 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 -1.7% for CARY 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CARY charges 0.80% per year while QQQ charges 0.18%. On a $10,000 position that is $80 vs $18 annually, a gap of $62 per year that compounds over a long holding period. On income, CARY currently yields 5.95% against 0.44% for QQQ.
Holdings Overlap
CARY and QQQ share 0 holdings out of 365 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CARY or QQQ?
CARY has an expense ratio of 0.80% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, CARY or QQQ?
Over the past year CARY returned +5.13% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (4 years), CARY annualized +7.13% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, CARY or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 2.7% for CARY. Worst drawdown: CARY -1.7% vs QQQ -83.0%.
Should I hold both CARY and QQQ?
CARY and QQQ have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CARY and QQQ?
CARY and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 365 unique securities.
Which pays a higher dividend, CARY or QQQ?
CARY yields 5.95% while QQQ yields 0.44%, so CARY currently pays the higher dividend yield.
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