CBLS vs QQQ
Clough Hedged Equity ETF vs Invesco QQQ Trust, Series 1
Which is better, CBLS or QQQ?
All Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. CBLS is less concentrated, with 29.0% of the fund in its ten largest positions against 47.2%.
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 | CBLS | QQQ |
|---|---|---|
| Expense Ratio | 1.89% | 0.18%Best |
| AUM | $56M | $498.6B |
| Dividend Yield | 0.81% | 0.42% |
| Holdings | 79 | 321 |
| Volatility (annualized) | 17.2%Best | 19.9% |
| Max Drawdown | -32.8%Best | -35.1% |
| $10,000 over 4.2 years | $13,962 | $18,443Best |
| Top 10 Weight | 29.0%Best | 47.2% |
| Fund Family | Changebridge Capital | Invesco (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Growth |
| Inception | Nov 13, 2020 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 622 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. CBLS has data through Jan 17, 2025 and QQQ through Oct 1, 2026.
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Nov 13, 2020 to Jan 17, 2025 (4.2 years).
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 17.2% for CBLS. 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 -32.8% for CBLS and -35.1% 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 0.41. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CBLS charges 1.89% per year while QQQ charges 0.18%. On a $10,000 position that is $189 vs $18 annually, a gap of $171 per year that compounds over a long holding period. On income, CBLS currently yields 0.81% against 0.42% for QQQ.
Holdings Overlap
26.2% of CBLS's money is in holdings QQQ also owns. 24.3% of QQQ's money is in holdings CBLS also owns.
CBLS and QQQ share little of their money.
17 positions in common, counted across the 78 positions we hold weights for in CBLS and 102 in QQQ, against full books of 79 and 321.
What only one of them owns
Our book lists 80 positions for QQQ that do not appear in our book for CBLS (74.2% of the fund), and 26 for CBLS that do not appear in QQQ (63.4%).
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 CBLS | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 3.09% | 8.45% | 5.36% |
| METAMeta Platforms Inc | 2.39% | 3.07% | 0.68% |
| GOOGAlphabet Inc. C | 2.39% | 2.93% | 0.54% |
| MRVLMarvell Technology Group Ltd. | 2.84% | 0.91% | 1.93% |
| CRWDCrowdstrike Holdings Inc | 2.77% | 0.93% | 1.84% |
| CEGConstellation Energy Corporation Com | 3.02% | 0.45% | 2.57% |
| PANWPalo Alto Networks, Inc | 2.22% | 1.19% | 1.03% |
| BKRBaker Hughes Co | 2.89% | 0.26% | 2.63% |
| ASML:ASASML HOLDING NV | 2.29% | 0.69% | 1.60% |
| ABNBAirbnb Inc | 2.27% | 0.31% | 1.96% |
26.2% of CBLS 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, CBLS or QQQ?
CBLS has an expense ratio of 1.89% while QQQ charges 0.18%. QQQ is the cheaper option, by $171 a year on a $10,000 investment.
Which is riskier, CBLS or QQQ?
QQQ has been the more volatile fund at 19.9% annualized versus 17.2% for CBLS. Worst drawdown: CBLS -32.8% vs QQQ -35.1%.
Should I hold both CBLS and QQQ?
CBLS and QQQ have a monthly-return correlation of 0.41, 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 CBLS and QQQ?
26.2% of CBLS's money is in holdings QQQ also owns. 24.3% of QQQ's is in holdings CBLS also owns. They hold 17 positions in common, counted across the 78 positions we hold weights for in CBLS and 102 in QQQ.
Which pays a higher dividend, CBLS or QQQ?
CBLS yields 0.81% while QQQ yields 0.42%, so CBLS currently pays the higher dividend yield.
Is QQQ better than CBLS?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. CBLS is less concentrated, with 29.0% of the fund in its ten largest positions against 47.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.