CEF vs QQQ
Sprott Physical Gold and Silver Trust vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. CEF delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | CEF | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.46% | 0.18% | |
| AUM | $7.4B | $455.8B | |
| Dividend Yield | 0.00% | 0.41% | |
| Holdings | 4 | 108 | |
| YTD Return | -2.73% | +17.85% | |
| 1Y Return | +45.01% | +26.45% | |
| 3Y Return (annualized) | +36.06% | +26.07% | |
| 5Y Return (annualized) | +20.91% | +15.16% | |
| Volatility (annualized) | 23.0% | 30.6% | |
| Max Drawdown | -62.3% | -83.0% | |
| Fund Family | Sprott Asset Management LP | Invesco (US) | |
| Category | Commodity | Equity | |
| Inception | Jan 16, 2018 | Mar 10, 1999 |
CEF vs QQQ Performance
Sprott Physical Gold and Silver Trust (CEF) is a ETF from Sprott Asset Management LP and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CEF returned +45.01% while QQQ returned +26.45%. Year to date, CEF is down 2.73% versus a gain of 17.85% for QQQ.
Over three years, CEF compounded at +36.06% per year against +26.07% for QQQ; over five years the annualized figures are +20.91% and +15.16% respectively. Across the full 27-year window we track, QQQ has the edge at +13.09% annualized vs +7.81%. 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 23.0% for CEF. 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 -62.3% for CEF 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 0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CEF charges 0.46% per year while QQQ charges 0.18%. On a $10,000 position that is $46 vs $18 annually, a gap of $28 per year that compounds over a long holding period. On income, CEF currently yields 0.00% against 0.41% for QQQ.
Frequently Asked Questions
Which is cheaper, CEF or QQQ?
CEF has an expense ratio of 0.46% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $28 per year of difference.
Which performed better, CEF or QQQ?
Over the past year CEF returned +45.01% vs +26.45% for QQQ, so CEF leads on 1-year performance. Over the longest common window we track (27 years), CEF annualized +7.81% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, CEF or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 23.0% for CEF. Worst drawdown: CEF -62.3% vs QQQ -83.0%.
Should I hold both CEF and QQQ?
CEF and QQQ have a monthly-return correlation of 0.03, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CEF or QQQ?
CEF yields 0.00% while QQQ yields 0.41%, so QQQ currently pays the higher dividend yield.
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