DLY vs QQQ
DoubleLine Yield Opportunities Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | DLY | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 3.38% | 0.18% | |
| AUM | $735M | $455.8B | |
| Dividend Yield | 9.24% | 0.41% | |
| Holdings | 490 | 108 | |
| YTD Return | +2.84% | +18.31% | |
| 1Y Return | +0.93% | +25.37% | |
| 3Y Return (annualized) | +7.28% | +25.79% | |
| 5Y Return (annualized) | +2.40% | +15.20% | |
| Volatility (annualized) | 13.3% | 30.6% | |
| Max Drawdown | -28.6% | -83.0% | |
| Fund Family | DoubleLine Funds | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 26, 2020 | Mar 10, 1999 |
DLY vs QQQ Performance
DoubleLine Yield Opportunities Fund (DLY) is a ETF from DoubleLine Funds and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year DLY returned +0.93% while QQQ returned +25.37%. Year to date, DLY is up 2.84% versus a gain of 18.31% for QQQ.
Over three years, DLY compounded at +7.28% per year against +25.79% for QQQ; over five years the annualized figures are +2.40% and +15.20% respectively. Across the full 7-year window we track, QQQ has the edge at +13.10% annualized vs +2.25%. 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 13.3% for DLY. 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 -28.6% for DLY 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 0.50. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DLY charges 3.38% per year while QQQ charges 0.18%. On a $10,000 position that is $338 vs $18 annually, a gap of $320 per year that compounds over a long holding period. On income, DLY currently yields 9.24% against 0.41% for QQQ.
Holdings Overlap
DLY and QQQ share 0 holdings out of 104 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DLY or QQQ?
DLY has an expense ratio of 3.38% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $320 per year of difference.
Which performed better, DLY or QQQ?
Over the past year DLY returned +0.93% vs +25.37% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (7 years), DLY annualized +2.25% vs +13.10% for QQQ. Past performance does not guarantee future results.
Which is riskier, DLY or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.3% for DLY. Worst drawdown: DLY -28.6% vs QQQ -83.0%.
Should I hold both DLY and QQQ?
DLY and QQQ have a monthly-return correlation of 0.50, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DLY and QQQ?
DLY and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, DLY or QQQ?
DLY yields 9.24% while QQQ yields 0.41%, so DLY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.