NCA vs QQQ
Nuveen California Municipal Value Fund Inc. vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | NCA | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.18% | |
| AUM | - | $455.8B | |
| Dividend Yield | 3.79% | 0.41% | |
| Holdings | 136 | 108 | |
| YTD Return | +4.17% | +17.46% | |
| 1Y Return | +10.70% | +26.02% | |
| 3Y Return (annualized) | +6.77% | +25.51% | |
| 5Y Return (annualized) | +0.39% | +15.12% | |
| Volatility (annualized) | 10.0% | 30.6% | |
| Max Drawdown | -32.5% | -83.0% | |
| Fund Family | Nuveen | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 7, 1987 | Mar 10, 1999 |
NCA vs QQQ Performance
Nuveen California Municipal Value Fund Inc. (NCA) is a ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NCA returned +10.70% while QQQ returned +26.02%. Year to date, NCA is up 4.17% versus a gain of 17.46% for QQQ.
Over three years, NCA compounded at +6.77% per year against +25.51% for QQQ; over five years the annualized figures are +0.39% and +15.12% respectively. Across the full 27-year window we track, QQQ has the edge at +13.08% annualized vs +0.26%. 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 10.0% for NCA. 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 -32.5% for NCA 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 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NCA and QQQ share 0 holdings out of 176 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, NCA or QQQ?
Over the past year NCA returned +10.70% vs +26.02% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (27 years), NCA annualized +0.26% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, NCA or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 10.0% for NCA. Worst drawdown: NCA -32.5% vs QQQ -83.0%.
Should I hold both NCA and QQQ?
NCA and QQQ have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NCA and QQQ?
NCA and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 176 unique securities.
Which pays a higher dividend, NCA or QQQ?
NCA yields 3.79% while QQQ yields 0.41%, so NCA currently pays the higher dividend yield.
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