EXG vs QQQ
Eaton Vance Tax-Managed Global Diversified Equity Income Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. EXG offers more diversification with 115 holdings.
Side-by-Side Comparison
| Metric | EXG | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.07% | 0.18% | |
| AUM | $2.5B | $496.3B | |
| Dividend Yield | 7.40% | 0.44% | |
| Holdings | 115 | 108 | |
| YTD Return | +11.24% | +19.52% | |
| 1Y Return | +23.27% | +26.68% | |
| 3Y Return (annualized) | +18.85% | +26.64% | |
| 5Y Return (annualized) | +7.73% | +15.36% | |
| Volatility (annualized) | 18.7% | 30.6% | |
| Max Drawdown | -76.1% | -83.0% | |
| Fund Family | Eaton Vance | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Feb 27, 2007 | Mar 10, 1999 |
EXG vs QQQ Performance
Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) is a ETF from Eaton Vance and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year EXG returned +23.27% while QQQ returned +26.68%. Year to date, EXG is up 11.24% versus a gain of 19.52% for QQQ.
Over three years, EXG compounded at +18.85% per year against +26.64% for QQQ; over five years the annualized figures are +7.73% and +15.36% respectively. Across the full 20-year window we track, QQQ has the edge at +13.14% annualized vs -1.05%. 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 18.7% for EXG. 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 -76.1% for EXG 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EXG charges 1.07% per year while QQQ charges 0.18%. On a $10,000 position that is $107 vs $18 annually, a gap of $89 per year that compounds over a long holding period. On income, EXG currently yields 7.40% against 0.44% for QQQ.
Holdings Overlap
EXG and QQQ share 12 holdings out of 184 unique holdings combined, representing a 21.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EXG or QQQ?
EXG has an expense ratio of 1.07% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, EXG or QQQ?
Over the past year EXG returned +23.27% vs +26.68% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (20 years), EXG annualized -1.05% vs +13.14% for QQQ. Past performance does not guarantee future results.
Which is riskier, EXG or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 18.7% for EXG. Worst drawdown: EXG -76.1% vs QQQ -83.0%.
Should I hold both EXG and QQQ?
EXG and QQQ have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EXG and QQQ?
EXG and QQQ share 12 common holdings with a 21.5% weight overlap. Combined, they hold 184 unique securities.
Which pays a higher dividend, EXG or QQQ?
EXG yields 7.40% while QQQ yields 0.44%, so EXG currently pays the higher dividend yield.
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