CGO vs QQQ
Calamos Global Total Return Fund vs Invesco QQQ Trust, Series 1
Which is better, CGO or QQQ?
Allocation/Balanced against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
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 | CGO | QQQ |
|---|---|---|
| Expense Ratio | 2.30% | 0.18%Best |
| AUM | $204M | $483.5B |
| Dividend Yield | 5.70% | 0.44% |
| Holdings | 714 | 107 |
| YTD Return | +19.93%Best | +17.11% |
| 1Y Return | +19.40% | +23.99%Best |
| 3Y Return (annualized) | +22.44% | +24.62%Best |
| 5Y Return (annualized) | +4.03% | +14.23%Best |
| Volatility (annualized) | 20.8% | 18.5%Best |
| Max Drawdown | -67.0% | -53.5%Best |
| $10,000 over 5 years | $12,184 | $19,449Best |
| Fund Family | Calamos Investments | Invesco (US) |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Growth |
| Inception | Oct 27, 2005 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 27, 2005 to Sep 9, 2026 (20.9 years).
CGO vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
CGO vs QQQ Performance
Calamos Global Total Return Fund (CGO) is an ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year CGO returned +19.40% while QQQ returned +23.99%. Year to date, CGO is up 19.93% versus a gain of 17.11% for QQQ.
Over three years, CGO compounded at +22.44% per year against +24.62% for QQQ; over five years the annualized figures are +4.03% and +14.23% respectively. Across the full 21-year window we track, QQQ has the edge at +15.28% annualized vs +1.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGO has been the more volatile fund, with annualized monthly volatility of 20.8% compared with 18.5% for QQQ. 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 -67.0% for CGO and -53.5% 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CGO charges 2.30% per year while QQQ charges 0.18%. On a $10,000 position that is $230 vs $18 annually, a gap of $212 per year that compounds over a long holding period. On income, CGO currently yields 5.70% against 0.44% for QQQ.
Holdings Overlap
At least 41.7% of QQQ's money is in holdings CGO also owns.
Stated as a floor: for CGO, our book for it covers 88.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 186 days apart, CGO as of Jan 31, 2026 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
16 positions in common, counted across the 493 positions we hold weights for in CGO and 102 in QQQ, against full books of 714 and 107.
Top Shared Holdings
| Stock | Weight in CGO | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 3.27% | 8.44% | 5.17% |
| MSFTMicrosoft Corp | 0.94% | 5.76% | 4.82% |
| GOOGLAlphabet Inc,class A | 2.64% | 3.36% | 0.72% |
| AMZNAmazon.Com Inc | 1.16% | 4.67% | 3.51% |
| AVGOBroadcom Inc | 0.73% | 3.16% | 2.43% |
| AMDAdvanced Micro Devices Inc | 0.31% | 3.45% | 3.14% |
| TSLATesla Motors Inc | 1.00% | 2.56% | 1.56% |
| METAMeta Platform Inc | 0.50% | 2.78% | 2.28% |
| INTCIntel Corporation | 0.47% | 2.23% | 1.76% |
| PLTRPalantir Technologies Inc | 0.45% | 1.60% | 1.15% |
41.7% of QQQ is already inside CGO.
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, CGO or QQQ?
CGO has an expense ratio of 2.30% while QQQ charges 0.18%. QQQ is the cheaper option, by $212 a year on a $10,000 investment.
Which performed better, CGO or QQQ?
Over the past year CGO returned +19.40% vs +23.99% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (21 years), CGO annualized +1.76% vs +15.28% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGO or QQQ?
CGO has been the more volatile fund at 20.8% annualized versus 18.5% for QQQ. Worst drawdown: CGO -67.0% vs QQQ -53.5%.
Should I hold both CGO and QQQ?
CGO and QQQ have a monthly-return correlation of 0.78, 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 CGO and QQQ?
At least 41.7% of QQQ's money is in holdings CGO also owns. Our book for CGO is partial, so the real figure is this or higher. They hold 16 positions in common, counted across the 493 positions we hold weights for in CGO and 102 in QQQ.
Which pays a higher dividend, CGO or QQQ?
CGO yields 5.70% while QQQ yields 0.44%, so CGO currently pays the higher dividend yield.
Is QQQ better than CGO?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.