CDEI vs QQQ
Calvert US Large-Cap Diversity, Equity and Inclusion Index ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
CDEI has a lower expense ratio. QQQ delivered stronger 1-year returns. CDEI offers more diversification with 271 holdings.
Side-by-Side Comparison
| Metric | CDEI | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.14% | 0.18% | |
| AUM | $18M | $496.3B | |
| Dividend Yield | 0.98% | 0.44% | |
| Holdings | 271 | 108 | |
| YTD Return | +15.62% | +19.52% | |
| 1Y Return | +24.96% | +26.68% | |
| 3Y Return (annualized) | +20.51% | +26.64% | |
| 5Y Return (annualized) | - | +15.36% | |
| Volatility (annualized) | 12.5% | 30.6% | |
| Max Drawdown | -19.5% | -83.0% | |
| Fund Family | Calvert | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2023 | Mar 10, 1999 |
CDEI vs QQQ Performance
Calvert US Large-Cap Diversity, Equity and Inclusion Index ETF (CDEI) is a ETF from Calvert and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CDEI returned +24.96% while QQQ returned +26.68%. Year to date, CDEI is up 15.62% versus a gain of 19.52% for QQQ.
Over three years, CDEI compounded at +20.51% per year against +26.64% for QQQ. Across the full 4-year window we track, CDEI has the edge at +20.36% annualized vs +13.14%. 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 12.5% for CDEI. 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 -19.5% for CDEI 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CDEI charges 0.14% per year while QQQ charges 0.18%. On a $10,000 position that is $14 vs $18 annually, a gap of $4 per year that compounds over a long holding period. On income, CDEI currently yields 0.98% against 0.44% for QQQ.
Holdings Overlap
CDEI and QQQ share 40 holdings out of 295 unique holdings combined, representing a 45.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CDEI or QQQ?
CDEI has an expense ratio of 0.14% while QQQ charges 0.18%. CDEI is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, CDEI or QQQ?
Over the past year CDEI returned +24.96% vs +26.68% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (4 years), CDEI annualized +20.36% vs +13.14% for QQQ. Past performance does not guarantee future results.
Which is riskier, CDEI or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 12.5% for CDEI. Worst drawdown: CDEI -19.5% vs QQQ -83.0%.
Should I hold both CDEI and QQQ?
CDEI and QQQ have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between CDEI and QQQ?
CDEI and QQQ share 40 common holdings with a 45.4% weight overlap. Combined, they hold 295 unique securities.
Which pays a higher dividend, CDEI or QQQ?
CDEI yields 0.98% while QQQ yields 0.44%, so CDEI currently pays the higher dividend yield.
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