CSQ vs QQQ
Calamos Strategic Total Return Fund vs Invesco QQQ Trust, Series 1
Which is better, CSQ or QQQ?
Equity-oriented 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 | CSQ | QQQ |
|---|---|---|
| Expense Ratio | 2.03% | 0.18%Best |
| AUM | $5.2B | $486.1B |
| Dividend Yield | 5.64% | 0.44% |
| Holdings | 816 | 107 |
| YTD Return | +15.15% | +17.54%Best |
| 1Y Return | +21.19% | +25.59%Best |
| 3Y Return (annualized) | +21.06% | +24.63%Best |
| 5Y Return (annualized) | +10.50% | +14.18%Best |
| Volatility (annualized) | 20.3% | 18.3%Best |
| Max Drawdown | -72.7% | -53.5%Best |
| $10,000 over 5 years | $16,474 | $19,407Best |
| Fund Family | Calamos Investments | Invesco (US) |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Growth |
| Inception | Mar 26, 2004 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 29, 2004 to Sep 4, 2026 (22.4 years).
CSQ 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.
CSQ vs QQQ Performance
Calamos Strategic Total Return Fund (CSQ) is an ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year CSQ returned +21.19% while QQQ returned +25.59%. Year to date, CSQ is up 15.15% versus a gain of 17.54% for QQQ.
Over three years, CSQ compounded at +21.06% per year against +24.63% for QQQ; over five years the annualized figures are +10.50% and +14.18% respectively. Across the full 22-year window we track, QQQ has the edge at +14.47% annualized vs +3.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSQ has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 18.3% 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 -72.7% for CSQ 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CSQ charges 2.03% per year while QQQ charges 0.18%. On a $10,000 position that is $203 vs $18 annually, a gap of $185 per year that compounds over a long holding period. On income, CSQ currently yields 5.64% against 0.44% for QQQ.
Holdings Overlap
At least 62.1% of QQQ's money is in holdings CSQ also owns.
Stated as a floor: for CSQ, our book for it covers 93.6% 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, CSQ 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.
33 positions in common, counted across the 452 positions we hold weights for in CSQ and 102 in QQQ, against full books of 816 and 107.
Top Shared Holdings
| Stock | Weight in CSQ | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 5.26% | 8.44% | 3.18% |
| AAPLApple Inc Ord | 4.77% | 7.27% | 2.50% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.08% | 5.76% | 1.68% |
| AMZNAmazon.Com Inc | 3.31% | 4.67% | 1.36% |
| GOOGL Alphabet Inc. Class A | 4.49% | 3.36% | 1.13% |
| MUMicron Technology, Inc. | 0.89% | 4.43% | 3.54% |
| AVGOBroadcom Inc | 2.12% | 3.16% | 1.04% |
| METAMeta Platform Inc | 2.18% | 2.78% | 0.60% |
| TSLATesla Motors Inc | 1.68% | 2.56% | 0.88% |
| WMTWalmart, Inc. | 0.75% | 2.41% | 1.66% |
62.1% of QQQ is already inside CSQ.
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, CSQ or QQQ?
CSQ has an expense ratio of 2.03% while QQQ charges 0.18%. QQQ is the cheaper option, by $185 a year on a $10,000 investment.
Which performed better, CSQ or QQQ?
Over the past year CSQ returned +21.19% vs +25.59% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (22 years), CSQ annualized +3.47% vs +14.47% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CSQ or QQQ?
CSQ has been the more volatile fund at 20.3% annualized versus 18.3% for QQQ. Worst drawdown: CSQ -72.7% vs QQQ -53.5%.
Should I hold both CSQ and QQQ?
CSQ and QQQ have a monthly-return correlation of 0.81, 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 CSQ and QQQ?
At least 62.1% of QQQ's money is in holdings CSQ also owns. Our book for CSQ is partial, so the real figure is this or higher. They hold 33 positions in common, counted across the 452 positions we hold weights for in CSQ and 102 in QQQ.
Which pays a higher dividend, CSQ or QQQ?
CSQ yields 5.64% while QQQ yields 0.44%, so CSQ currently pays the higher dividend yield.
Is QQQ better than CSQ?
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.