CCEF vs QQQ
Calamos CEF Income & Arbitrage ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | CCEF | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 3.19% | 0.18% | |
| AUM | $35M | $496.3B | |
| Dividend Yield | 8.03% | 0.44% | |
| Holdings | 55 | 108 | |
| YTD Return | +9.16% | +17.07% | |
| 1Y Return | +13.81% | +26.39% | |
| 3Y Return (annualized) | - | +26.08% | |
| 5Y Return (annualized) | - | +15.18% | |
| Volatility (annualized) | 9.5% | 30.6% | |
| Max Drawdown | -14.1% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 16, 2024 | Mar 10, 1999 |
CCEF vs QQQ Performance
Calamos CEF Income & Arbitrage ETF (CCEF) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CCEF returned +13.81% while QQQ returned +26.39%. Year to date, CCEF is up 9.16% versus a gain of 17.07% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 9.5% for CCEF. 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 -14.1% for CCEF 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CCEF charges 3.19% per year while QQQ charges 0.18%. On a $10,000 position that is $319 vs $18 annually, a gap of $301 per year that compounds over a long holding period. On income, CCEF currently yields 8.03% against 0.44% for QQQ.
Holdings Overlap
CCEF and QQQ share 0 holdings out of 158 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, CCEF or QQQ?
CCEF has an expense ratio of 3.19% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $301 per year of difference.
Which performed better, CCEF or QQQ?
Over the past year CCEF returned +13.81% vs +26.39% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (3 years), CCEF annualized +15.47% vs +13.05% for QQQ. Past performance does not guarantee future results.
Which is riskier, CCEF or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 9.5% for CCEF. Worst drawdown: CCEF -14.1% vs QQQ -83.0%.
Should I hold both CCEF and QQQ?
CCEF and QQQ have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CCEF and QQQ?
CCEF and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 158 unique securities.
Which pays a higher dividend, CCEF or QQQ?
CCEF yields 8.03% while QQQ yields 0.44%, so CCEF currently pays the higher dividend yield.
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