CPRY vs QQQ
Calamos Russell 2000 Structured Alt Protection ETF - January vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | CPRY | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.18% | |
| AUM | $37M | $455.8B | |
| Dividend Yield | 0.00% | 0.41% | |
| Holdings | 5 | 108 | |
| YTD Return | +4.45% | +19.68% | |
| 1Y Return | +10.38% | +26.75% | |
| 3Y Return (annualized) | - | +26.25% | |
| 5Y Return (annualized) | - | +15.39% | |
| Volatility (annualized) | 3.0% | 30.6% | |
| Max Drawdown | -3.2% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 2, 2025 | Mar 10, 1999 |
CPRY vs QQQ Performance
Calamos Russell 2000 Structured Alt Protection ETF - January (CPRY) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CPRY returned +10.38% while QQQ returned +26.75%. Year to date, CPRY is up 4.45% versus a gain of 19.68% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 3.0% for CPRY. 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 -3.2% for CPRY 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPRY charges 0.69% per year while QQQ charges 0.18%. On a $10,000 position that is $69 vs $18 annually, a gap of $51 per year that compounds over a long holding period. On income, CPRY currently yields 0.00% against 0.41% for QQQ.
Frequently Asked Questions
Which is cheaper, CPRY or QQQ?
CPRY has an expense ratio of 0.69% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, CPRY or QQQ?
Over the past year CPRY returned +10.38% vs +26.75% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), CPRY annualized +8.27% vs +13.15% for QQQ. Past performance does not guarantee future results.
Which is riskier, CPRY or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 3.0% for CPRY. Worst drawdown: CPRY -3.2% vs QQQ -83.0%.
Should I hold both CPRY and QQQ?
CPRY and QQQ have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CPRY or QQQ?
CPRY yields 0.00% while QQQ yields 0.41%, so QQQ currently pays the higher dividend yield.
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