OPP vs QQQ
OPP vs QQQ
RiverNorth/DoubleLine Strategic Opportunity Fund Inc. vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | OPP | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 5.40% | 0.18% | |
| AUM | $206M | $455.8B | |
| Dividend Yield | 13.33% | 0.41% | |
| Holdings | 10,170 | 108 | |
| YTD Return | +4.19% | +18.34% | |
| 1Y Return | -0.93% | +28.94% | |
| 3Y Return (annualized) | +9.13% | +25.28% | |
| 5Y Return (annualized) | -1.28% | +15.22% | |
| Volatility (annualized) | 13.1% | 30.6% | |
| Max Drawdown | -45.9% | -83.0% | |
| Fund Family | RiverNorth | Invesco (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Sep 27, 2016 | Mar 10, 1999 |
OPP vs QQQ Performance
RiverNorth/DoubleLine Strategic Opportunity Fund Inc. (OPP) is a ETF from RiverNorth and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year OPP returned -0.93% while QQQ returned +28.94%. Year to date, OPP is up 4.19% versus a gain of 18.34% for QQQ.
Over three years, OPP compounded at +9.13% per year against +25.28% for QQQ; over five years the annualized figures are -1.28% and +15.22% respectively. Across the full 10-year window we track, QQQ has the edge at +13.12% annualized vs -2.20%. 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 13.1% for OPP. 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 -45.9% for OPP 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OPP charges 5.40% per year while QQQ charges 0.18%. On a $10,000 position that is $540 vs $18 annually, a gap of $522 per year that compounds over a long holding period. On income, OPP currently yields 13.33% against 0.41% for QQQ.
Holdings Overlap
OPP and QQQ share 0 holdings out of 168 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, OPP or QQQ?
OPP has an expense ratio of 5.40% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $522 per year of difference.
Which performed better, OPP or QQQ?
Over the past year OPP returned -0.93% vs +28.94% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (10 years), OPP annualized -2.20% vs +13.12% for QQQ. Past performance does not guarantee future results.
Which is riskier, OPP or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.1% for OPP. Worst drawdown: OPP -45.9% vs QQQ -83.0%.
Should I hold both OPP and QQQ?
OPP and QQQ have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OPP and QQQ?
OPP and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 168 unique securities.
Which pays a higher dividend, OPP or QQQ?
OPP yields 13.33% while QQQ yields 0.41%, so OPP currently pays the higher dividend yield.
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