CVRT vs QQQ
Calamos Convertible Equity Alternative ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. CVRT delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | CVRT | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.18% | |
| AUM | $31M | $455.8B | |
| Dividend Yield | 1.05% | 0.41% | |
| Holdings | 92 | 108 | |
| YTD Return | +24.10% | +17.85% | |
| 1Y Return | +47.39% | +26.45% | |
| 3Y Return (annualized) | - | +26.07% | |
| 5Y Return (annualized) | - | +15.16% | |
| Volatility (annualized) | 19.0% | 30.6% | |
| Max Drawdown | -20.9% | -83.0% | |
| Fund Family | Calamos Asset Management | Invesco (US) | |
| Category | Convertible | Equity | |
| Inception | Oct 4, 2023 | Mar 10, 1999 |
CVRT vs QQQ Performance
Calamos Convertible Equity Alternative ETF (CVRT) is a ETF from Calamos Asset Management and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CVRT returned +47.39% while QQQ returned +26.45%. Year to date, CVRT is up 24.10% versus a gain of 17.85% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 19.0% for CVRT. 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 -20.9% for CVRT 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVRT 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, CVRT currently yields 1.05% against 0.41% for QQQ.
Holdings Overlap
CVRT and QQQ share 3 holdings out of 188 unique holdings combined, representing a 3.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVRT or QQQ?
CVRT 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, CVRT or QQQ?
Over the past year CVRT returned +47.39% vs +26.45% for QQQ, so CVRT leads on 1-year performance. Over the longest common window we track (3 years), CVRT annualized +28.97% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, CVRT or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 19.0% for CVRT. Worst drawdown: CVRT -20.9% vs QQQ -83.0%.
Should I hold both CVRT and QQQ?
CVRT and QQQ have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVRT and QQQ?
CVRT and QQQ share 3 common holdings with a 3.5% weight overlap. Combined, they hold 188 unique securities.
Which pays a higher dividend, CVRT or QQQ?
CVRT yields 1.05% while QQQ yields 0.41%, so CVRT currently pays the higher dividend yield.
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