NUW vs QQQ
Nuveen AMT-Free Municipal Value Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. NUW offers more diversification with 225 holdings.
Side-by-Side Comparison
| Metric | NUW | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.18% | |
| AUM | - | $496.3B | |
| Dividend Yield | 3.94% | 0.44% | |
| Holdings | 225 | 108 | |
| YTD Return | +1.32% | +17.07% | |
| 1Y Return | +8.73% | +26.39% | |
| 3Y Return (annualized) | +5.32% | +26.08% | |
| 5Y Return (annualized) | -0.14% | +15.18% | |
| Volatility (annualized) | 9.7% | 30.6% | |
| Max Drawdown | -32.9% | -83.0% | |
| Fund Family | Nuveen | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Feb 25, 2009 | Mar 10, 1999 |
NUW vs QQQ Performance
Nuveen AMT-Free Municipal Value Fund (NUW) is a ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NUW returned +8.73% while QQQ returned +26.39%. Year to date, NUW is up 1.32% versus a gain of 17.07% for QQQ.
Over three years, NUW compounded at +5.32% per year against +26.08% for QQQ; over five years the annualized figures are -0.14% and +15.18% respectively. Across the full 18-year window we track, QQQ has the edge at +13.05% annualized vs +0.87%. 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 9.7% for NUW. 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 -32.9% for NUW 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 0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NUW charges 0.68% per year while QQQ charges 0.18%. On a $10,000 position that is $68 vs $18 annually, a gap of $50 per year that compounds over a long holding period. On income, NUW currently yields 3.94% against 0.44% for QQQ.
Holdings Overlap
NUW and QQQ share 0 holdings out of 199 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, NUW or QQQ?
NUW has an expense ratio of 0.68% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, NUW or QQQ?
Over the past year NUW returned +8.73% vs +26.39% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (18 years), NUW annualized +0.87% vs +13.05% for QQQ. Past performance does not guarantee future results.
Which is riskier, NUW or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 9.7% for NUW. Worst drawdown: NUW -32.9% vs QQQ -83.0%.
Should I hold both NUW and QQQ?
NUW and QQQ have a monthly-return correlation of 0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NUW and QQQ?
NUW and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 199 unique securities.
Which pays a higher dividend, NUW or QQQ?
NUW yields 3.94% while QQQ yields 0.44%, so NUW 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.