NMS vs QQQ
Nuveen Minnesota Quality Municipal Income Fund 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 | NMS | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.18% | |
| AUM | - | $455.8B | |
| Dividend Yield | 6.79% | 0.41% | |
| Holdings | 145 | 108 | |
| YTD Return | +2.36% | +18.31% | |
| 1Y Return | +9.13% | +25.37% | |
| 3Y Return (annualized) | +9.00% | +25.79% | |
| 5Y Return (annualized) | -0.83% | +15.20% | |
| Volatility (annualized) | 13.3% | 30.6% | |
| Max Drawdown | -41.8% | -83.0% | |
| Fund Family | Nuveen | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 25, 1993 | Mar 10, 1999 |
NMS vs QQQ Performance
Nuveen Minnesota Quality Municipal Income Fund (NMS) is a ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NMS returned +9.13% while QQQ returned +25.37%. Year to date, NMS is up 2.36% versus a gain of 18.31% for QQQ.
Over three years, NMS compounded at +9.00% per year against +25.79% for QQQ; over five years the annualized figures are -0.83% and +15.20% respectively. Across the full 12-year window we track, QQQ has the edge at +13.10% annualized vs +0.25%. 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 13.3% for NMS. 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 -41.8% for NMS 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 0.31. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NMS and QQQ share 0 holdings out of 118 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, NMS or QQQ?
Over the past year NMS returned +9.13% vs +25.37% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (12 years), NMS annualized +0.25% vs +13.10% for QQQ. Past performance does not guarantee future results.
Which is riskier, NMS or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.3% for NMS. Worst drawdown: NMS -41.8% vs QQQ -83.0%.
Should I hold both NMS and QQQ?
NMS and QQQ have a monthly-return correlation of 0.31, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NMS and QQQ?
NMS and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 118 unique securities.
Which pays a higher dividend, NMS or QQQ?
NMS yields 6.79% while QQQ yields 0.41%, so NMS currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.