CCD vs QQQ
CCD vs QQQ
Calamos Dynamic Convertible and Income Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. CCD delivered stronger 1-year returns. CCD offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CCD | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 2.10% | 0.18% | |
| AUM | $978M | $455.8B | |
| Dividend Yield | 8.97% | 0.41% | |
| Holdings | 612 | 108 | |
| YTD Return | +26.40% | +14.45% | |
| 1Y Return | +37.25% | +24.70% | |
| 3Y Return (annualized) | +18.94% | +24.19% | |
| 5Y Return (annualized) | +6.27% | +14.49% | |
| Volatility (annualized) | 21.1% | 30.6% | |
| Max Drawdown | -60.9% | -83.0% | |
| Fund Family | Calamos Investments | Invesco (US) | |
| Category | Convertible | Equity | |
| Inception | Mar 27, 2015 | Mar 10, 1999 |
CCD vs QQQ Performance
Calamos Dynamic Convertible and Income Fund (CCD) is a ETF from Calamos Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CCD returned +37.25% while QQQ returned +24.70%. Year to date, CCD is up 26.40% versus a gain of 14.45% for QQQ.
Over three years, CCD compounded at +18.94% per year against +24.19% for QQQ; over five years the annualized figures are +6.27% and +14.49% respectively. Across the full 11-year window we track, QQQ has the edge at +12.98% annualized vs +5.07%. 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 21.1% for CCD. 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 -60.9% for CCD 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CCD charges 2.10% per year while QQQ charges 0.18%. On a $10,000 position that is $210 vs $18 annually, a gap of $192 per year that compounds over a long holding period. On income, CCD currently yields 8.97% against 0.41% for QQQ.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, CCD or QQQ?
CCD has an expense ratio of 2.10% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $192 per year of difference.
Which performed better, CCD or QQQ?
Over the past year CCD returned +37.25% vs +24.70% for QQQ, so CCD leads on 1-year performance. Over the longest common window we track (11 years), CCD annualized +5.07% vs +12.98% for QQQ. Past performance does not guarantee future results.
Which is riskier, CCD or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 21.1% for CCD. Worst drawdown: CCD -60.9% vs QQQ -83.0%.
Should I hold both CCD and QQQ?
CCD and QQQ have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CCD and QQQ?
CCD and QQQ share 2 common holdings with a 0.2% weight overlap. Combined, they hold 604 unique securities.
Which pays a higher dividend, CCD or QQQ?
CCD yields 8.97% while QQQ yields 0.41%, so CCD currently pays the higher dividend yield.
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