NPV vs QQQ
Nuveen Virginia 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 | NPV | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.18% | |
| AUM | - | $455.8B | |
| Dividend Yield | 6.86% | 0.41% | |
| Holdings | 187 | 108 | |
| YTD Return | +3.43% | +19.68% | |
| 1Y Return | +7.08% | +26.75% | |
| 3Y Return (annualized) | +7.36% | +26.25% | |
| 5Y Return (annualized) | -3.08% | +15.39% | |
| Volatility (annualized) | 13.6% | 30.6% | |
| Max Drawdown | -52.7% | -83.0% | |
| Fund Family | Nuveen | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Mar 18, 1993 | Mar 10, 1999 |
NPV vs QQQ Performance
Nuveen Virginia Quality Municipal Income Fund (NPV) is a ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NPV returned +7.08% while QQQ returned +26.75%. Year to date, NPV is up 3.43% versus a gain of 19.68% for QQQ.
Over three years, NPV compounded at +7.36% per year against +26.25% for QQQ; over five years the annualized figures are -3.08% and +15.39% respectively. Across the full 27-year window we track, QQQ has the edge at +13.15% annualized vs +0.29%. 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 13.6% for NPV. 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 -52.7% for NPV 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 0.10. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
NPV and QQQ share 0 holdings out of 163 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, NPV or QQQ?
Over the past year NPV returned +7.08% vs +26.75% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (27 years), NPV annualized +0.29% vs +13.15% for QQQ. Past performance does not guarantee future results.
Which is riskier, NPV or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.6% for NPV. Worst drawdown: NPV -52.7% vs QQQ -83.0%.
Should I hold both NPV and QQQ?
NPV and QQQ have a monthly-return correlation of 0.10, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NPV and QQQ?
NPV and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 163 unique securities.
Which pays a higher dividend, NPV or QQQ?
NPV yields 6.86% while QQQ yields 0.41%, so NPV currently pays the higher dividend yield.
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