NVG vs QQQ
Nuveen AMT-Free Municipal Credit Income Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. NVG offers more diversification with 1,103 holdings.
Side-by-Side Comparison
| Metric | NVG | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 3.64% | 0.18% | |
| AUM | - | $496.3B | |
| Dividend Yield | 7.75% | 0.44% | |
| Holdings | 1,103 | 108 | |
| YTD Return | +1.34% | +16.64% | |
| 1Y Return | +14.02% | +27.27% | |
| 3Y Return (annualized) | +10.72% | +25.96% | |
| 5Y Return (annualized) | -1.52% | +14.54% | |
| Volatility (annualized) | 12.5% | 30.6% | |
| Max Drawdown | -47.8% | -83.0% | |
| Fund Family | Nuveen | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Mar 25, 2002 | Mar 10, 1999 |
NVG vs QQQ Performance
Nuveen AMT-Free Municipal Credit Income Fund (NVG) is a ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year NVG returned +14.02% while QQQ returned +27.27%. Year to date, NVG is up 1.34% versus a gain of 16.64% for QQQ.
Over three years, NVG compounded at +10.72% per year against +25.96% for QQQ; over five years the annualized figures are -1.52% and +14.54% respectively. Across the full 24-year window we track, QQQ has the edge at +13.03% annualized vs +0.54%. 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 12.5% for NVG. 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 -47.8% for NVG 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 0.27. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NVG charges 3.64% per year while QQQ charges 0.18%. On a $10,000 position that is $364 vs $18 annually, a gap of $346 per year that compounds over a long holding period. On income, NVG currently yields 7.75% against 0.44% for QQQ.
Holdings Overlap
NVG and QQQ share 0 holdings out of 456 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, NVG or QQQ?
NVG has an expense ratio of 3.64% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $346 per year of difference.
Which performed better, NVG or QQQ?
Over the past year NVG returned +14.02% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (24 years), NVG annualized +0.54% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, NVG or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 12.5% for NVG. Worst drawdown: NVG -47.8% vs QQQ -83.0%.
Should I hold both NVG and QQQ?
NVG and QQQ have a monthly-return correlation of 0.27, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NVG and QQQ?
NVG and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 456 unique securities.
Which pays a higher dividend, NVG or QQQ?
NVG yields 7.75% while QQQ yields 0.44%, so NVG currently pays the higher dividend yield.
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