ETB vs QQQ
Eaton Vance Tax-Managed Buy-Write Income Fund vs Invesco QQQ Trust, Series 1
Which is better, ETB or QQQ?
Multi Alternative against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. ETB is less concentrated, with 39.1% of the fund in its ten largest positions against 46.5%.
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 | ETB | QQQ |
|---|---|---|
| Expense Ratio | 1.12% | 0.18%Best |
| AUM | $391M | $483.5B |
| Dividend Yield | 7.44% | 0.44% |
| Holdings | 156 | 107 |
| YTD Return | +7.27% | +15.94%Best |
| 1Y Return | +11.98% | +20.44%Best |
| 3Y Return (annualized) | +15.70% | +24.86%Best |
| 5Y Return (annualized) | +7.54% | +14.26%Best |
| Volatility (annualized) | 17.3%Best | 18.4% |
| Max Drawdown | -59.4% | -53.5%Best |
| $10,000 over 5 years | $14,383 | $19,475Best |
| Top 10 Weight | 39.1%Best | 46.5% |
| Fund Family | Eaton Vance | Invesco (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Growth |
| Inception | Apr 27, 2005 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Apr 27, 2005 to Sep 14, 2026 (21.4 years).
ETB 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.
ETB vs QQQ Performance
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is an ETF from Eaton Vance and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year ETB returned +11.98% while QQQ returned +20.44%. Year to date, ETB is up 7.27% versus a gain of 15.94% for QQQ.
Over three years, ETB compounded at +15.70% per year against +24.86% for QQQ; over five years the annualized figures are +7.54% and +14.26% respectively. Across the full 21-year window we track, QQQ has the edge at +15.27% annualized vs +1.02%.
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 17.3% for ETB. 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 -59.4% for ETB 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 0.65. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ETB charges 1.12% per year while QQQ charges 0.18%. On a $10,000 position that is $112 vs $18 annually, a gap of $94 per year that compounds over a long holding period. On income, ETB currently yields 7.44% against 0.44% for QQQ.
Holdings Overlap
56.4% of ETB's money is in holdings QQQ also owns. 74.8% of QQQ's money is in holdings ETB also owns.
Most of QQQ is already inside ETB. Owning both mostly buys the same companies twice.
39 positions in common, counted across the 131 positions we hold weights for in ETB and 102 in QQQ, against full books of 156 and 107.
What only one of them owns
Our book lists 57 positions for QQQ that do not appear in our book for ETB (22.7% of the fund), and 92 for ETB that do not appear in QQQ (43.4%).
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 ETB | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.77% | 8.44% | 0.67% |
| AAPLApple, Inc | 7.06% | 7.27% | 0.21% |
| MSFTMicrosoft Corp | 4.84% | 5.76% | 0.92% |
| AMZNAmazon.Com Inc | 4.04% | 4.67% | 0.63% |
| GOOGLAlphabet Inc,class A | 3.41% | 3.36% | 0.05% |
| AVGOBroadcom Inc | 3.19% | 3.16% | 0.03% |
| MUMicron Technology, Inc. | 1.89% | 4.43% | 2.54% |
| GOOGAlphabet Inc | 2.63% | 3.13% | 0.50% |
| AMDAdvanced Micro Devices Inc | 2.17% | 3.45% | 1.28% |
| METAMeta Platforms Inc | 2.07% | 2.78% | 0.71% |
74.8% of QQQ is already inside ETB.
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, ETB or QQQ?
ETB has an expense ratio of 1.12% while QQQ charges 0.18%. QQQ is the cheaper option, by $94 a year on a $10,000 investment.
Which performed better, ETB or QQQ?
Over the past year ETB returned +11.98% vs +20.44% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (21 years), ETB annualized +1.02% vs +15.27% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETB or QQQ?
QQQ has been the more volatile fund at 18.4% annualized versus 17.3% for ETB. Worst drawdown: ETB -59.4% vs QQQ -53.5%.
Should I hold both ETB and QQQ?
ETB and QQQ have a monthly-return correlation of 0.65, 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 ETB and QQQ?
74.8% of QQQ's money is in holdings ETB also owns. 74.8% of QQQ's is in holdings ETB also owns. They hold 39 positions in common, counted across the 131 positions we hold weights for in ETB and 102 in QQQ.
Which pays a higher dividend, ETB or QQQ?
ETB yields 7.44% while QQQ yields 0.44%, so ETB currently pays the higher dividend yield.
Is QQQ better than ETB?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. ETB is less concentrated, with 39.1% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.