CHW vs QQQ
Calamos Global Dynamic Income Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. CHW delivered stronger 1-year returns. CHW offers more diversification with 499 holdings.
Side-by-Side Comparison
| Metric | CHW | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 2.27% | 0.18% | |
| AUM | $861M | $455.8B | |
| Dividend Yield | 5.92% | 0.41% | |
| Holdings | 775 | 108 | |
| YTD Return | +20.77% | +19.68% | |
| 1Y Return | +28.32% | +26.75% | |
| 3Y Return (annualized) | +22.95% | +26.25% | |
| 5Y Return (annualized) | +4.77% | +15.39% | |
| Volatility (annualized) | 23.1% | 30.6% | |
| Max Drawdown | -73.0% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jun 27, 2007 | Mar 10, 1999 |
CHW vs QQQ Performance
Calamos Global Dynamic Income Fund (CHW) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CHW returned +28.32% while QQQ returned +26.75%. Year to date, CHW is up 20.77% versus a gain of 19.68% for QQQ.
Over three years, CHW compounded at +22.95% per year against +26.25% for QQQ; over five years the annualized figures are +4.77% and +15.39% respectively. Across the full 19-year window we track, QQQ has the edge at +13.15% annualized vs -0.24%. 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 23.1% for CHW. 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 -73.0% for CHW 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CHW charges 2.27% per year while QQQ charges 0.18%. On a $10,000 position that is $227 vs $18 annually, a gap of $209 per year that compounds over a long holding period. On income, CHW currently yields 5.92% against 0.41% for QQQ.
Holdings Overlap
CHW and QQQ share 17 holdings out of 585 unique holdings combined, representing a 13.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CHW or QQQ?
CHW has an expense ratio of 2.27% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $209 per year of difference.
Which performed better, CHW or QQQ?
Over the past year CHW returned +28.32% vs +26.75% for QQQ, so CHW leads on 1-year performance. Over the longest common window we track (19 years), CHW annualized -0.24% vs +13.15% for QQQ. Past performance does not guarantee future results.
Which is riskier, CHW or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 23.1% for CHW. Worst drawdown: CHW -73.0% vs QQQ -83.0%.
Should I hold both CHW and QQQ?
CHW and QQQ have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CHW and QQQ?
CHW and QQQ share 17 common holdings with a 13.3% weight overlap. Combined, they hold 585 unique securities.
Which pays a higher dividend, CHW or QQQ?
CHW yields 5.92% while QQQ yields 0.41%, so CHW currently pays the higher dividend yield.
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