ECF vs QQQ
Ellsworth Growth and Income Fund Ltd. 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 | ECF | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.16% | 0.18% | |
| AUM | $218M | $455.8B | |
| Dividend Yield | 3.63% | 0.41% | |
| Holdings | 99 | 108 | |
| YTD Return | +8.35% | +17.85% | |
| 1Y Return | +21.36% | +26.45% | |
| 3Y Return (annualized) | +18.29% | +26.07% | |
| 5Y Return (annualized) | +3.40% | +15.16% | |
| Volatility (annualized) | 16.8% | 30.6% | |
| Max Drawdown | -83.1% | -83.0% | |
| Fund Family | Gabelli Funds | Invesco (US) | |
| Category | Convertible | Equity | |
| Inception | Jun 30, 1986 | Mar 10, 1999 |
ECF vs QQQ Performance
Ellsworth Growth and Income Fund Ltd. (ECF) is a ETF from Gabelli Funds and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year ECF returned +21.36% while QQQ returned +26.45%. Year to date, ECF is up 8.35% versus a gain of 17.85% for QQQ.
Over three years, ECF compounded at +18.29% per year against +26.07% for QQQ; over five years the annualized figures are +3.40% and +15.16% respectively. Across the full 26-year window we track, QQQ has the edge at +13.09% annualized vs +8.28%. 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 16.8% for ECF. 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 -83.1% for ECF 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ECF charges 1.16% per year while QQQ charges 0.18%. On a $10,000 position that is $116 vs $18 annually, a gap of $98 per year that compounds over a long holding period. On income, ECF currently yields 3.63% against 0.41% for QQQ.
Holdings Overlap
ECF and QQQ share 5 holdings out of 141 unique holdings combined, representing a 6.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ECF or QQQ?
ECF has an expense ratio of 1.16% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, ECF or QQQ?
Over the past year ECF returned +21.36% vs +26.45% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (26 years), ECF annualized +8.28% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, ECF or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.8% for ECF. Worst drawdown: ECF -83.1% vs QQQ -83.0%.
Should I hold both ECF and QQQ?
ECF and QQQ have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ECF and QQQ?
ECF and QQQ share 5 common holdings with a 6.7% weight overlap. Combined, they hold 141 unique securities.
Which pays a higher dividend, ECF or QQQ?
ECF yields 3.63% while QQQ yields 0.41%, so ECF currently pays the higher dividend yield.
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