CBLS vs QQQ
Clough Hedged Equity ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. CBLS delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | CBLS | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.90% | 0.18% | |
| AUM | $57M | $496.3B | |
| Dividend Yield | 0.82% | 0.44% | |
| Holdings | 77 | 108 | |
| YTD Return | +6.30% | +17.07% | |
| 1Y Return | +38.20% | +26.39% | |
| 3Y Return (annualized) | +6.54% | +26.08% | |
| 5Y Return (annualized) | - | +15.18% | |
| Volatility (annualized) | 17.2% | 30.6% | |
| Max Drawdown | -32.8% | -83.0% | |
| Fund Family | Changebridge Capital | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Nov 13, 2020 | Mar 10, 1999 |
CBLS vs QQQ Performance
Clough Hedged Equity ETF (CBLS) is a ETF from Changebridge Capital and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CBLS returned +38.20% while QQQ returned +26.39%. Year to date, CBLS is up 6.30% versus a gain of 17.07% for QQQ.
Over three years, CBLS compounded at +6.54% per year against +26.08% for QQQ. Across the full 4-year window we track, QQQ has the edge at +13.05% annualized vs +8.27%. 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 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 -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
CBLS charges 1.90% per year while QQQ charges 0.18%. On a $10,000 position that is $190 vs $18 annually, a gap of $172 per year that compounds over a long holding period. On income, CBLS currently yields 0.82% against 0.44% for QQQ.
Holdings Overlap
CBLS and QQQ share 13 holdings out of 161 unique holdings combined, representing a 12.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CBLS or QQQ?
CBLS has an expense ratio of 1.90% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $172 per year of difference.
Which performed better, CBLS or QQQ?
Over the past year CBLS returned +38.20% vs +26.39% for QQQ, so CBLS leads on 1-year performance. Over the longest common window we track (4 years), CBLS annualized +8.27% vs +13.05% for QQQ. Past performance does not guarantee future results.
Which is riskier, CBLS or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 17.2% for CBLS. Worst drawdown: CBLS -32.8% vs QQQ -83.0%.
Should I hold both CBLS and QQQ?
CBLS 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 CBLS and QQQ?
CBLS and QQQ share 13 common holdings with a 12.8% weight overlap. Combined, they hold 161 unique securities.
Which pays a higher dividend, CBLS or QQQ?
CBLS yields 0.82% while QQQ yields 0.44%, so CBLS currently pays the higher dividend yield.
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