EOT vs QQQ
Eaton Vance National Municipal Opportunities Trust vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. EOT offers more diversification with 181 holdings.
Side-by-Side Comparison
| Metric | EOT | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.18% | |
| AUM | $281M | $496.3B | |
| Dividend Yield | 4.58% | 0.44% | |
| Holdings | 181 | 108 | |
| YTD Return | +5.94% | +16.23% | |
| 1Y Return | +13.41% | +26.23% | |
| 3Y Return (annualized) | +6.60% | +25.75% | |
| 5Y Return (annualized) | -1.28% | +14.78% | |
| Volatility (annualized) | 11.9% | 30.6% | |
| Max Drawdown | -33.9% | -83.0% | |
| Fund Family | Eaton Vance | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | May 27, 2009 | Mar 10, 1999 |
EOT vs QQQ Performance
Eaton Vance National Municipal Opportunities Trust (EOT) is a ETF from Eaton Vance and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year EOT returned +13.41% while QQQ returned +26.23%. Year to date, EOT is up 5.94% versus a gain of 16.23% for QQQ.
Over three years, EOT compounded at +6.60% per year against +25.75% for QQQ; over five years the annualized figures are -1.28% and +14.78% respectively. Across the full 17-year window we track, QQQ has the edge at +13.02% annualized vs +0.62%. 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 11.9% for EOT. 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 -33.9% for EOT 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 0.23. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EOT charges 0.79% per year while QQQ charges 0.18%. On a $10,000 position that is $79 vs $18 annually, a gap of $61 per year that compounds over a long holding period. On income, EOT currently yields 4.58% against 0.44% for QQQ.
Holdings Overlap
EOT and QQQ share 0 holdings out of 187 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, EOT or QQQ?
EOT has an expense ratio of 0.79% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, EOT or QQQ?
Over the past year EOT returned +13.41% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), EOT annualized +0.62% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, EOT or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 11.9% for EOT. Worst drawdown: EOT -33.9% vs QQQ -83.0%.
Should I hold both EOT and QQQ?
EOT and QQQ have a monthly-return correlation of 0.23, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EOT and QQQ?
EOT and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 187 unique securities.
Which pays a higher dividend, EOT or QQQ?
EOT yields 4.58% while QQQ yields 0.44%, so EOT currently pays the higher dividend yield.
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