CVIE vs QQQ
Calvert International Responsible Index ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
CVIE delivered stronger 1-year returns. CVIE offers more diversification with 755 holdings.
Side-by-Side Comparison
| Metric | CVIE | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.18% | |
| AUM | $477M | $496.3B | |
| Dividend Yield | 2.42% | 0.44% | |
| Holdings | 755 | 108 | |
| YTD Return | +19.72% | +16.64% | |
| 1Y Return | +33.06% | +27.27% | |
| 3Y Return (annualized) | +23.30% | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 13.8% | 30.6% | |
| Max Drawdown | -13.5% | -83.0% | |
| Fund Family | Calvert | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2023 | Mar 10, 1999 |
CVIE vs QQQ Performance
Calvert International Responsible Index ETF (CVIE) is a ETF from Calvert and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CVIE returned +33.06% while QQQ returned +27.27%. Year to date, CVIE is up 19.72% versus a gain of 16.64% for QQQ.
Over three years, CVIE compounded at +23.30% per year against +25.96% for QQQ. Across the full 4-year window we track, CVIE has the edge at +18.88% annualized vs +13.03%. 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 13.8% for CVIE. 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 -13.5% for CVIE 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CVIE charges 0.18% per year while QQQ charges 0.18%. On a $10,000 position that is $18 vs $18 annually. On income, CVIE currently yields 2.42% against 0.44% for QQQ.
Holdings Overlap
CVIE and QQQ share 5 holdings out of 814 unique holdings combined, representing a 1.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVIE or QQQ?
CVIE has an expense ratio of 0.18% while QQQ charges 0.18%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, CVIE or QQQ?
Over the past year CVIE returned +33.06% vs +27.27% for QQQ, so CVIE leads on 1-year performance. Over the longest common window we track (4 years), CVIE annualized +18.88% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, CVIE or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.8% for CVIE. Worst drawdown: CVIE -13.5% vs QQQ -83.0%.
Should I hold both CVIE and QQQ?
CVIE and QQQ have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVIE and QQQ?
CVIE and QQQ share 5 common holdings with a 1.2% weight overlap. Combined, they hold 814 unique securities.
Which pays a higher dividend, CVIE or QQQ?
CVIE yields 2.42% while QQQ yields 0.44%, so CVIE currently pays the higher dividend yield.
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