QQQ vs RMMZ
Invesco QQQ Trust, Series 1 vs RiverNorth Managed Duration Municipal Income Fund II, Inc
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | QQQ | RMMZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 6.81% | |
| AUM | $496.3B | $135M | |
| Dividend Yield | 0.44% | 5.75% | |
| Holdings | 108 | 100 | |
| YTD Return | +16.30% | +6.51% | |
| 1Y Return | +24.83% | +6.43% | |
| 3Y Return (annualized) | +25.48% | +6.12% | |
| 5Y Return (annualized) | +14.50% | - | |
| Volatility (annualized) | 30.6% | 16.8% | |
| Max Drawdown | -83.0% | -27.1% | |
| Fund Family | Invesco (US) | RiverNorth | |
| Category | Equity | Tax Preferred | |
| Inception | Mar 10, 1999 | Feb 10, 2022 |
QQQ vs RMMZ Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and RiverNorth Managed Duration Municipal Income Fund II, Inc (RMMZ) is a ETF from RiverNorth. Over the past year QQQ returned +24.83% while RMMZ returned +6.43%. Year to date, QQQ is up 16.30% versus a gain of 6.51% for RMMZ.
Over three years, QQQ compounded at +25.48% per year against +6.12% for RMMZ. Across the full 5-year window we track, QQQ has the edge at +13.01% annualized vs +1.94%. 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 16.8% for RMMZ. 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 -83.0% for QQQ and -27.1% for RMMZ. 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 0.61. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QQQ charges 0.18% per year while RMMZ charges 6.81%. On a $10,000 position that is $18 vs $681 annually, a gap of $663 per year that compounds over a long holding period. On income, QQQ currently yields 0.44% against 5.75% for RMMZ.
Holdings Overlap
QQQ and RMMZ share 0 holdings out of 154 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, QQQ or RMMZ?
QQQ has an expense ratio of 0.18% while RMMZ charges 6.81%. QQQ is the cheaper option. On a $10,000 investment, that is $663 per year of difference.
Which performed better, QQQ or RMMZ?
Over the past year QQQ returned +24.83% vs +6.43% for RMMZ, so QQQ leads on 1-year performance. Over the longest common window we track (5 years), QQQ annualized +13.01% vs +1.94% for RMMZ. Past performance does not guarantee future results.
Which is riskier, QQQ or RMMZ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.8% for RMMZ. Worst drawdown: QQQ -83.0% vs RMMZ -27.1%.
Should I hold both QQQ and RMMZ?
QQQ and RMMZ have a monthly-return correlation of 0.61, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QQQ and RMMZ?
QQQ and RMMZ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 154 unique securities.
Which pays a higher dividend, QQQ or RMMZ?
QQQ yields 0.44% while RMMZ yields 5.75%, so RMMZ currently pays the higher dividend yield.
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