NWLG vs QQQ
Nuveen Winslow Large-Cap Growth ESG ETF vs Invesco QQQ Trust, Series 1
Which is better, NWLG or QQQ?
QQQ has been ahead.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 60.4%.
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 | NWLG | QQQ |
|---|---|---|
| Expense Ratio | 0.65% | 0.18%Best |
| AUM | $9M | $483.5B |
| Dividend Yield | 0.00% | 0.44% |
| Holdings | 42 | 107 |
| Volatility (annualized) | 21.3% | 19.9%Best |
| Max Drawdown | -39.9% | -35.1%Best |
| $10,000 over 4.7 years | $11,691 | $16,442Best |
| Top 10 Weight | 60.4% | 46.5%Best |
| Fund Family | Nuveen | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Aug 4, 2021 | Mar 10, 1999 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 158 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. NWLG has data through Apr 6, 2026 and QQQ through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 4.7 years row, are measured over the window both funds cover: Aug 5, 2021 to Apr 6, 2026 (4.7 years).
Risk: Volatility and Drawdowns
NWLG has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 19.9% 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 -39.9% for NWLG and -35.1% 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NWLG charges 0.65% per year while QQQ charges 0.18%. On a $10,000 position that is $65 vs $18 annually, a gap of $47 per year that compounds over a long holding period. On income, NWLG currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
70.8% of NWLG's money is in holdings QQQ also owns. 47.5% of QQQ's money is in holdings NWLG also owns.
Most of NWLG is already inside QQQ. Owning both mostly buys the same companies twice.
The two holdings books were reported 217 days apart, NWLG as of Dec 31, 2025 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.
20 positions in common, counted across the 39 positions we hold weights for in NWLG and 102 in QQQ, against full books of 42 and 107.
What only one of them owns
Our book lists 77 positions for QQQ that do not appear in our book for NWLG (50.9% of the fund), and 19 for NWLG that do not appear in QQQ (28.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in NWLG | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 12.49% | 8.44% | 4.05% |
| MSFTMicrosoft Corp | 11.29% | 5.76% | 5.53% |
| AAPLApple, Inc | 8.76% | 7.27% | 1.49% |
| AMZNAmazon.Com Inc | 5.22% | 4.67% | 0.55% |
| GOOGAlphabet Inc | 6.20% | 3.13% | 3.07% |
| AVGOBroadcom Inc | 5.58% | 3.16% | 2.42% |
| METAMeta Platforms Inc | 3.44% | 2.78% | 0.66% |
| TSLATesla Inc | 2.20% | 2.56% | 0.36% |
| AMDAdvanced Micro Devices Inc | 0.58% | 3.45% | 2.87% |
| ISRGIntuitive Surgical Inc. | 2.30% | 0.58% | 1.72% |
70.8% of NWLG is already inside QQQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NWLG or QQQ?
NWLG has an expense ratio of 0.65% while QQQ charges 0.18%. QQQ is the cheaper option, by $47 a year on a $10,000 investment.
Which is riskier, NWLG or QQQ?
NWLG has been the more volatile fund at 21.3% annualized versus 19.9% for QQQ. Worst drawdown: NWLG -39.9% vs QQQ -35.1%.
Should I hold both NWLG and QQQ?
NWLG and QQQ have a monthly-return correlation of 0.78, 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 NWLG and QQQ?
70.8% of NWLG's money is in holdings QQQ also owns. 47.5% of QQQ's is in holdings NWLG also owns. They hold 20 positions in common, counted across the 39 positions we hold weights for in NWLG and 102 in QQQ.
Which pays a higher dividend, NWLG or QQQ?
NWLG yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Is QQQ better than NWLG?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 60.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.