DFCA vs QQQ
Dimensional California Municipal Bond ETF vs Invesco QQQ Trust, Series 1
Which is better, DFCA or QQQ?
Municipal California against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y and the full window.
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 | DFCA | QQQ |
|---|---|---|
| Expense Ratio | 0.19% | 0.18%Best |
| AUM | $519M | $506.1B |
| Dividend Yield | 2.89% | 0.42% |
| Holdings | 486 | 321 |
| YTD Return | -2.37% | +19.30%Best |
| 1Y Return | -1.41% | +22.47%Best |
| 3Y Return (annualized) | +2.17% | +26.18%Best |
| 5Y Return (annualized) | - | +15.42% |
| Volatility (annualized) | 3.6%Best | 17.1% |
| Max Drawdown | -5.0%Best | -22.8% |
| $10,000 over 3.3 years | $10,476 | $20,413Best |
| Fund Family | Dimensional | Invesco (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal California | Large Cap Growth |
| Inception | Jun 26, 2023 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 27, 2023 to Oct 14, 2026 (3.3 years).
DFCA vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
DFCA vs QQQ Performance
Dimensional California Municipal Bond ETF (DFCA) is an ETF from Dimensional and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year DFCA returned -1.41% while QQQ returned +22.47%. Year to date, DFCA is down 2.37% versus a gain of 19.30% for QQQ.
Over three years, DFCA compounded at +2.17% per year against +26.18% for QQQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 3.6% for DFCA. 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 -5.0% for DFCA and -22.8% 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 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFCA charges 0.19% per year while QQQ charges 0.18%. On a $10,000 position that is $19 vs $18 annually, a gap of $1 per year that compounds over a long holding period. On income, DFCA currently yields 2.89% against 0.42% for QQQ.
Holdings Overlap
We hold position weights for 76 holdings in DFCA and 101 in QQQ, totalling 22.0% and 99.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 76 positions we hold weights for in DFCA and 101 in QQQ, against full books of 486 and 321.
You are not choosing between two funds in isolation.
Whichever of DFCA and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DFCA or QQQ?
DFCA has an expense ratio of 0.19% while QQQ charges 0.18%. QQQ is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, DFCA or QQQ?
Over the past year DFCA returned -1.41% vs +22.47% for QQQ, so QQQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFCA or QQQ?
QQQ has been the more volatile fund at 17.1% annualized versus 3.6% for DFCA. Worst drawdown: DFCA -5.0% vs QQQ -22.8%.
Should I hold both DFCA and QQQ?
DFCA and QQQ have a monthly-return correlation of 0.48, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DFCA or QQQ?
DFCA yields 2.89% while QQQ yields 0.42%, so DFCA currently pays the higher dividend yield.
Is QQQ better than DFCA?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.