CHW vs QQQ
Calamos Global Dynamic Income Fund vs Invesco QQQ Trust, Series 1
Which is better, CHW 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 | CHW | QQQ |
|---|---|---|
| Expense Ratio | 2.27% | 0.18%Best |
| AUM | $868M | $483.5B |
| Dividend Yield | 2.68% | 0.44% |
| Holdings | 775 | 107 |
| YTD Return | +15.01% | +17.21%Best |
| 1Y Return | +17.66% | +22.10%Best |
| 3Y Return (annualized) | +22.40% | +25.27%Best |
| 5Y Return (annualized) | +4.85% | +14.60%Best |
| Volatility (annualized) | 23.0% | 18.9%Best |
| Max Drawdown | -73.0% | -53.5%Best |
| $10,000 over 5 years | $12,672 | $19,766Best |
| Fund Family | Calamos Investments | Invesco (US) |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Growth |
| Inception | Jun 27, 2007 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 27, 2007 to Sep 17, 2026 (19.2 years).
CHW 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.
CHW vs QQQ Performance
Calamos Global Dynamic Income Fund (CHW) is an ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year CHW returned +17.66% while QQQ returned +22.10%. Year to date, CHW is up 15.01% versus a gain of 17.21% for QQQ.
Over three years, CHW compounded at +22.40% per year against +25.27% for QQQ; over five years the annualized figures are +4.85% and +14.60% respectively. Across the full 19-year window we track, QQQ has the edge at +15.35% annualized vs -0.49%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHW has been the more volatile fund, with annualized monthly volatility of 23.0% compared with 18.9% 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 -73.0% for CHW 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 0.82. 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 2.68% against 0.44% for QQQ.
Holdings Overlap
At least 40.8% of QQQ's money is in holdings CHW also owns.
Stated as a floor: for CHW, 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, CHW 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.
15 positions in common, counted across the 499 positions we hold weights for in CHW and 102 in QQQ, against full books of 775 and 107.
Top Shared Holdings
| Stock | Weight in CHW | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 3.26% | 8.44% | 5.18% |
| MSFTMicrosoft Corp | 0.95% | 5.76% | 4.81% |
| GOOGLAlphabet Inc,class A | 2.64% | 3.36% | 0.72% |
| AMZNAmazon.Com Inc | 1.17% | 4.67% | 3.50% |
| AVGOBroadcom Inc | 0.73% | 3.16% | 2.43% |
| AMDAdvanced Micro Devices Inc | 0.31% | 3.45% | 3.14% |
| TSLATesla Inc | 0.97% | 2.56% | 1.59% |
| METAMeta Platforms Inc | 0.50% | 2.78% | 2.28% |
| INTCIntel Corporation | 0.47% | 2.23% | 1.76% |
| PLTRPalantir Technologies Inc | 0.43% | 1.60% | 1.17% |
40.8% of QQQ is already inside CHW.
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, CHW or QQQ?
CHW has an expense ratio of 2.27% while QQQ charges 0.18%. QQQ is the cheaper option, by $209 a year on a $10,000 investment.
Which performed better, CHW or QQQ?
Over the past year CHW returned +17.66% vs +22.10% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), CHW annualized -0.49% vs +15.35% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CHW or QQQ?
CHW has been the more volatile fund at 23.0% annualized versus 18.9% for QQQ. Worst drawdown: CHW -73.0% vs QQQ -53.5%.
Should I hold both CHW and QQQ?
CHW and QQQ have a monthly-return correlation of 0.82, 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 CHW and QQQ?
At least 40.8% of QQQ's money is in holdings CHW also owns. Our book for CHW is partial, so the real figure is this or higher. They hold 15 positions in common, counted across the 499 positions we hold weights for in CHW and 102 in QQQ.
Which pays a higher dividend, CHW or QQQ?
CHW yields 2.68% while QQQ yields 0.44%, so CHW currently pays the higher dividend yield.
Is QQQ better than CHW?
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.