CVMC vs QQQ
Calvert US Mid-Cap Core Responsible Index ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
CVMC has a lower expense ratio. QQQ delivered stronger 1-year returns. CVMC offers more diversification with 622 holdings.
Side-by-Side Comparison
| Metric | CVMC | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.18% | |
| AUM | $103M | $496.3B | |
| Dividend Yield | 1.18% | 0.44% | |
| Holdings | 622 | 108 | |
| YTD Return | +20.74% | +16.19% | |
| 1Y Return | +24.94% | +25.22% | |
| 3Y Return (annualized) | +17.70% | +25.47% | |
| 5Y Return (annualized) | - | +14.34% | |
| Volatility (annualized) | 15.6% | 30.6% | |
| Max Drawdown | -22.5% | -83.0% | |
| Fund Family | Calvert | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2023 | Mar 10, 1999 |
CVMC vs QQQ Performance
Calvert US Mid-Cap Core Responsible Index ETF (CVMC) is a ETF from Calvert and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CVMC returned +24.94% while QQQ returned +25.22%. Year to date, CVMC is up 20.74% versus a gain of 16.19% for QQQ.
Over three years, CVMC compounded at +17.70% per year against +25.47% for QQQ. Across the full 4-year window we track, CVMC has the edge at +13.49% annualized vs +13.01%. 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 15.6% for CVMC. 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 -22.5% for CVMC 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CVMC 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, CVMC currently yields 1.18% against 0.44% for QQQ.
Holdings Overlap
CVMC and QQQ share 22 holdings out of 672 unique holdings combined, representing a 4.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVMC or QQQ?
CVMC has an expense ratio of 0.15% while QQQ charges 0.18%. CVMC is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, CVMC or QQQ?
Over the past year CVMC returned +24.94% vs +25.22% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (4 years), CVMC annualized +13.49% vs +13.01% for QQQ. Past performance does not guarantee future results.
Which is riskier, CVMC or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 15.6% for CVMC. Worst drawdown: CVMC -22.5% vs QQQ -83.0%.
Should I hold both CVMC and QQQ?
CVMC and QQQ have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVMC and QQQ?
CVMC and QQQ share 22 common holdings with a 4.2% weight overlap. Combined, they hold 672 unique securities.
Which pays a higher dividend, CVMC or QQQ?
CVMC yields 1.18% while QQQ yields 0.44%, so CVMC currently pays the higher dividend yield.
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