EOI vs QQQ
Eaton Vance Enhanced Equity Income 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 | EOI | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.18% | |
| AUM | $613M | $455.8B | |
| Dividend Yield | 7.61% | 0.41% | |
| Holdings | 95 | 108 | |
| YTD Return | +3.41% | +18.31% | |
| 1Y Return | +2.82% | +25.37% | |
| 3Y Return (annualized) | +16.15% | +25.79% | |
| 5Y Return (annualized) | +9.07% | +15.20% | |
| Volatility (annualized) | 16.9% | 30.6% | |
| Max Drawdown | -61.7% | -83.0% | |
| Fund Family | Eaton Vance | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Oct 26, 2004 | Mar 10, 1999 |
EOI vs QQQ Performance
Eaton Vance Enhanced Equity Income Fund (EOI) is a ETF from Eaton Vance and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year EOI returned +2.82% while QQQ returned +25.37%. Year to date, EOI is up 3.41% versus a gain of 18.31% for QQQ.
Over three years, EOI compounded at +16.15% per year against +25.79% for QQQ; over five years the annualized figures are +9.07% and +15.20% respectively. Across the full 22-year window we track, QQQ has the edge at +13.10% annualized vs +2.01%. 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 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 -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 0.76. 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 7.61% against 0.41% for QQQ.
Holdings Overlap
EOI and QQQ share 15 holdings out of 138 unique holdings combined, representing a 40.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $92 per year of difference.
Which performed better, EOI or QQQ?
Over the past year EOI returned +2.82% vs +25.37% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (22 years), EOI annualized +2.01% vs +13.10% for QQQ. Past performance does not guarantee future results.
Which is riskier, EOI or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.9% for EOI. Worst drawdown: EOI -61.7% vs QQQ -83.0%.
Should I hold both EOI and QQQ?
EOI and QQQ have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EOI and QQQ?
EOI and QQQ share 15 common holdings with a 40.1% weight overlap. Combined, they hold 138 unique securities.
Which pays a higher dividend, EOI or QQQ?
EOI yields 7.61% while QQQ yields 0.41%, so EOI currently pays the higher dividend yield.
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