EOI vs QQQ
Eaton Vance Enhanced Equity Income Fund vs Invesco QQQ Trust, Series 1
Which is better, EOI or QQQ?
Multi Alternative against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 49.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EOI | QQQ |
|---|---|---|
| Expense Ratio | 1.10% | 0.18%Best |
| AUM | $613M | $486.1B |
| Dividend Yield | 7.62% | 0.44% |
| Holdings | 95 | 107 |
| YTD Return | +3.22% | +17.33%Best |
| 1Y Return | +1.56% | +26.50%Best |
| 3Y Return (annualized) | +15.44% | +24.58%Best |
| 5Y Return (annualized) | +9.14% | +14.15%Best |
| Volatility (annualized) | 16.9%Best | 18.4% |
| Max Drawdown | -61.7% | -53.5%Best |
| $10,000 over 5 years | $15,485 | $19,381Best |
| Top 10 Weight | 49.6% | 46.5%Best |
| Fund Family | Eaton Vance | Invesco (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Growth |
| Inception | Oct 26, 2004 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Oct 27, 2004 to Sep 3, 2026 (21.9 years).
EOI vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
EOI vs QQQ Performance
Eaton Vance Enhanced Equity Income Fund (EOI) is an ETF from Eaton Vance and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year EOI returned +1.56% while QQQ returned +26.50%. Year to date, EOI is up 3.22% versus a gain of 17.33% for QQQ.
Over three years, EOI compounded at +15.44% per year against +24.58% for QQQ; over five years the annualized figures are +9.14% and +14.15% respectively. Across the full 22-year window we track, QQQ has the edge at +14.74% annualized vs +2.00%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 16.9% for EOI. 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 -61.7% for EOI and -53.5% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EOI charges 1.10% per year while QQQ charges 0.18%. On a $10,000 position that is $110 vs $18 annually, a gap of $92 per year that compounds over a long holding period. On income, EOI currently yields 7.62% against 0.44% for QQQ.
Holdings Overlap
51.7% of EOI's money is in holdings QQQ also owns. 43.4% of QQQ's money is in holdings EOI also owns.
The two portfolios partly overlap.
The two holdings books were reported 159 days apart, EOI as of Feb 27, 2026 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
15 positions in common, counted across the 49 positions we hold weights for in EOI and 102 in QQQ, against full books of 95 and 107.
What only one of them owns
Our book lists 81 positions for QQQ that do not appear in our book for EOI (54.1% of the fund), and 30 for EOI that do not appear in QQQ (44.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EOI | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 9.07% | 8.44% | 0.63% |
| AAPLApple, Inc | 6.63% | 7.27% | 0.64% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 6.04% | 5.76% | 0.28% |
| GOOGAlphabet Inc. C | 6.84% | 3.13% | 3.71% |
| AMZNAmazon.Com Inc | 4.67% | 4.67% | 0.00% |
| AVGOBroadcom Inc | 4.01% | 3.16% | 0.85% |
| METAMeta Platform Inc | 3.86% | 2.78% | 1.08% |
| WMTWalmart, Inc. | 1.81% | 2.41% | 0.60% |
| LRCXLam Research Corp | 1.99% | 1.69% | 0.30% |
| ADIAnalog Devices, Inc. | 1.84% | 0.81% | 1.03% |
51.7% of EOI is already inside QQQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EOI or QQQ?
EOI has an expense ratio of 1.10% while QQQ charges 0.18%. QQQ is the cheaper option, by $92 a year on a $10,000 investment.
Which performed better, EOI or QQQ?
Over the past year EOI returned +1.56% vs +26.50% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (22 years), EOI annualized +2.00% vs +14.74% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EOI or QQQ?
QQQ has been the more volatile fund at 18.4% annualized versus 16.9% for EOI. Worst drawdown: EOI -61.7% vs QQQ -53.5%.
Should I hold both EOI and QQQ?
EOI and QQQ have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EOI and QQQ?
51.7% of EOI's money is in holdings QQQ also owns. 43.4% of QQQ's is in holdings EOI also owns. They hold 15 positions in common, counted across the 49 positions we hold weights for in EOI and 102 in QQQ.
Which pays a higher dividend, EOI or QQQ?
EOI yields 7.62% while QQQ yields 0.44%, so EOI currently pays the higher dividend yield.
Is QQQ better than EOI?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 49.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.