NCZ vs QQQ
Virtus Convertible & Income Fund II vs Invesco QQQ Trust, Series 1
Which is better, NCZ or QQQ?
Convertibles against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
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 | NCZ | QQQ |
|---|---|---|
| Expense Ratio | 1.44% | 0.18%Best |
| AUM | $305M | $483.5B |
| Dividend Yield | 8.91% | 0.44% |
| Holdings | 220 | 107 |
| YTD Return | +14.75% | +17.95%Best |
| 1Y Return | +17.54% | +21.77%Best |
| 3Y Return (annualized) | +23.19% | +25.63%Best |
| 5Y Return (annualized) | +4.80% | +15.24%Best |
| Volatility (annualized) | 25.6% | 18.2%Best |
| Max Drawdown | -85.6% | -53.5%Best |
| $10,000 over 5 years | $12,642 | $20,324Best |
| Fund Family | Virtus Investment Partners | Invesco (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Growth |
| Inception | Jul 31, 2003 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jul 29, 2003 to Sep 18, 2026 (23.1 years).
NCZ 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.
NCZ vs QQQ Performance
Virtus Convertible & Income Fund II (NCZ) is an ETF from Virtus Investment Partners and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year NCZ returned +17.54% while QQQ returned +21.77%. Year to date, NCZ is up 14.75% versus a gain of 17.95% for QQQ.
Over three years, NCZ compounded at +23.19% per year against +25.63% for QQQ; over five years the annualized figures are +4.80% and +15.24% respectively. Across the full 23-year window we track, QQQ has the edge at +14.63% annualized vs -3.21%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NCZ has been the more volatile fund, with annualized monthly volatility of 25.6% compared with 18.2% for QQQ. 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 -85.6% for NCZ 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 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NCZ charges 1.44% per year while QQQ charges 0.18%. On a $10,000 position that is $144 vs $18 annually, a gap of $126 per year that compounds over a long holding period. On income, NCZ currently yields 8.91% against 0.44% for QQQ.
Holdings Overlap
At least 6.5% of QQQ's money is in holdings NCZ also owns.
Stated as a floor: for NCZ, our book for it covers 62.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
QQQ and NCZ share little of their money.
The two holdings books were reported 159 days apart, NCZ as of Feb 27, 2026 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
8 positions in common, counted across the 98 positions we hold weights for in NCZ and 102 in QQQ, against full books of 220 and 107.
Top Shared Holdings
| Stock | Weight in NCZ | Weight in QQQ | Difference |
|---|---|---|---|
| LITELumentum Holdings Inc | 3.94% | 0.28% | 3.66% |
| AMDAdvanced Micro Devices Inc | 0.41% | 3.45% | 3.04% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 2.73% | 0.79% | 1.94% |
| STXSeagate Technology Holdings Plc | 0.76% | 0.83% | 0.07% |
| DDOGDatadog Inc | 0.76% | 0.41% | 0.35% |
| MSTRMicrostrategy Inc | 0.86% | 0.14% | 0.72% |
| MCHPMicrochip Technology Inc. | 0.79% | 0.19% | 0.60% |
| DASHDoordash Inc - A | 0.35% | 0.37% | 0.02% |
You are not choosing between two funds in isolation.
Whichever of NCZ and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NCZ or QQQ?
NCZ has an expense ratio of 1.44% while QQQ charges 0.18%. QQQ is the cheaper option, by $126 a year on a $10,000 investment.
Which performed better, NCZ or QQQ?
Over the past year NCZ returned +17.54% vs +21.77% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (23 years), NCZ annualized -3.21% vs +14.63% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NCZ or QQQ?
NCZ has been the more volatile fund at 25.6% annualized versus 18.2% for QQQ. Worst drawdown: NCZ -85.6% vs QQQ -53.5%.
Should I hold both NCZ and QQQ?
NCZ and QQQ have a monthly-return correlation of 0.67, 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 NCZ and QQQ?
At least 6.5% of QQQ's money is in holdings NCZ also owns. Our book for NCZ is partial, so the real figure is this or higher. They hold 8 positions in common, counted across the 98 positions we hold weights for in NCZ and 102 in QQQ.
Which pays a higher dividend, NCZ or QQQ?
NCZ yields 8.91% while QQQ yields 0.44%, so NCZ currently pays the higher dividend yield.
Is QQQ better than NCZ?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.