CVLC vs QQQ
Calvert US Large-Cap Core Responsible Index ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
CVLC has a lower expense ratio. QQQ delivered stronger 1-year returns. CVLC offers more diversification with 784 holdings.
Side-by-Side Comparison
| Metric | CVLC | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.18% | |
| AUM | $888M | $496.3B | |
| Dividend Yield | 0.93% | 0.44% | |
| Holdings | 784 | 108 | |
| YTD Return | +14.03% | +16.64% | |
| 1Y Return | +23.66% | +27.27% | |
| 3Y Return (annualized) | +22.10% | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 13.4% | 30.6% | |
| Max Drawdown | -19.9% | -83.0% | |
| Fund Family | Calvert | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2023 | Mar 10, 1999 |
CVLC vs QQQ Performance
Calvert US Large-Cap Core Responsible Index ETF (CVLC) is a ETF from Calvert and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CVLC returned +23.66% while QQQ returned +27.27%. Year to date, CVLC is up 14.03% versus a gain of 16.64% for QQQ.
Over three years, CVLC compounded at +22.10% per year against +25.96% for QQQ. Across the full 4-year window we track, CVLC has the edge at +20.43% 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 13.4% for CVLC. 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 -19.9% for CVLC 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVLC charges 0.15% per year while QQQ charges 0.18%. On a $10,000 position that is $15 vs $18 annually, a gap of $3 per year that compounds over a long holding period. On income, CVLC currently yields 0.93% against 0.44% for QQQ.
Holdings Overlap
CVLC and QQQ share 78 holdings out of 781 unique holdings combined, representing a 47.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVLC or QQQ?
CVLC has an expense ratio of 0.15% while QQQ charges 0.18%. CVLC is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, CVLC or QQQ?
Over the past year CVLC returned +23.66% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (4 years), CVLC annualized +20.43% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, CVLC or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.4% for CVLC. Worst drawdown: CVLC -19.9% vs QQQ -83.0%.
Should I hold both CVLC and QQQ?
CVLC and QQQ have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVLC and QQQ?
CVLC and QQQ share 78 common holdings with a 47.1% weight overlap. Combined, they hold 781 unique securities.
Which pays a higher dividend, CVLC or QQQ?
CVLC yields 0.93% while QQQ yields 0.44%, so CVLC currently pays the higher dividend yield.
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