JCAL vs QQQ
JPMorgan California Tax Free Bond ETF 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 108 holdings.
Side-by-Side Comparison
| Metric | JCAL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.34% | 0.18% | |
| AUM | $505M | $496.3B | |
| Dividend Yield | 0.28% | 0.44% | |
| Holdings | 8 | 108 | |
| YTD Return | -1.17% | +16.23% | |
| 1Y Return | - | +26.23% | |
| 3Y Return (annualized) | - | +25.75% | |
| 5Y Return (annualized) | - | +14.78% | |
| Volatility (annualized) | - | 30.6% | |
| Max Drawdown | -2.0% | -83.0% | |
| Fund Family | J.P. Morgan Asset Management | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 12, 2026 | Mar 10, 1999 |
JCAL vs QQQ Performance
JPMorgan California Tax Free Bond ETF (JCAL) is a ETF from J.P. Morgan Asset Management and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Year to date, JCAL is down 1.17% versus a gain of 16.23% for QQQ.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -2.0% for JCAL and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
JCAL charges 0.34% per year while QQQ charges 0.18%. On a $10,000 position that is $34 vs $18 annually, a gap of $16 per year that compounds over a long holding period. On income, JCAL currently yields 0.28% against 0.44% for QQQ.
Holdings Overlap
JCAL and QQQ share 0 holdings out of 110 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, JCAL or QQQ?
JCAL has an expense ratio of 0.34% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
What is the holdings overlap between JCAL and QQQ?
JCAL and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 110 unique securities.
Which pays a higher dividend, JCAL or QQQ?
JCAL yields 0.28% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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