EVHY vs QQQ
Eaton Vance High Yield ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. EVHY offers more diversification with 277 holdings.
Side-by-Side Comparison
| Metric | EVHY | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.18% | |
| AUM | $23M | $496.3B | |
| Dividend Yield | 7.17% | 0.44% | |
| Holdings | 277 | 108 | |
| YTD Return | +2.13% | +16.64% | |
| 1Y Return | +5.49% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 3.8% | 30.6% | |
| Max Drawdown | -3.7% | -83.0% | |
| Fund Family | Eaton Vance | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Oct 16, 2023 | Mar 10, 1999 |
EVHY vs QQQ Performance
Eaton Vance High Yield ETF (EVHY) is a ETF from Eaton Vance and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year EVHY returned +5.49% while QQQ returned +27.27%. Year to date, EVHY is up 2.13% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 3.8% for EVHY. 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 -3.7% for EVHY 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVHY charges 0.48% per year while QQQ charges 0.18%. On a $10,000 position that is $48 vs $18 annually, a gap of $30 per year that compounds over a long holding period. On income, EVHY currently yields 7.17% against 0.44% for QQQ.
Holdings Overlap
EVHY and QQQ share 0 holdings out of 295 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, EVHY or QQQ?
EVHY has an expense ratio of 0.48% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, EVHY or QQQ?
Over the past year EVHY returned +5.49% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (3 years), EVHY annualized +9.21% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, EVHY or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 3.8% for EVHY. Worst drawdown: EVHY -3.7% vs QQQ -83.0%.
Should I hold both EVHY and QQQ?
EVHY and QQQ have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVHY and QQQ?
EVHY and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 295 unique securities.
Which pays a higher dividend, EVHY or QQQ?
EVHY yields 7.17% while QQQ yields 0.44%, so EVHY currently pays the higher dividend yield.
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