NAC vs QQQ
Nuveen California Quality Municipal Income Fund vs Invesco QQQ Trust, Series 1
Which is better, NAC or QQQ?
Municipal California against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y 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 | NAC | QQQ |
|---|---|---|
| Expense Ratio | 3.79% | 0.18%Best |
| AUM | $1.8B | $506.1B |
| Dividend Yield | 8.45% | 0.42% |
| Holdings | 358 | 321 |
| YTD Return | -11.68% | +19.30%Best |
| 1Y Return | -8.56% | +22.47%Best |
| 3Y Return (annualized) | +7.98% | +26.18%Best |
| 5Y Return (annualized) | -2.96% | +15.42%Best |
| Volatility (annualized) | 13.1%Best | 30.6% |
| Max Drawdown | -53.7%Best | -83.0% |
| $10,000 over 5 years | $8,605 | $20,484Best |
| Fund Family | Nuveen | Invesco (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal California | Large Cap Growth |
| Inception | May 26, 1999 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 26, 1999 to Oct 14, 2026 (27.4 years).
NAC 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.
NAC vs QQQ Performance
Nuveen California Quality Municipal Income Fund (NAC) is an ETF from Nuveen and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year NAC returned -8.56% while QQQ returned +22.47%. Year to date, NAC is down 11.68% versus a gain of 19.30% for QQQ.
Over three years, NAC compounded at +7.98% per year against +26.18% for QQQ; over five years the annualized figures are -2.96% and +15.42% respectively. Across the full 27-year window we track, QQQ has the edge at +13.14% annualized vs -0.35%.
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 NAC. 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 -53.7% for NAC and -83.0% 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 0.19. They move largely independently of each other.
Fees and Cost Over Time
NAC charges 3.79% per year while QQQ charges 0.18%. On a $10,000 position that is $379 vs $18 annually, a gap of $361 per year that compounds over a long holding period. On income, NAC currently yields 8.45% against 0.42% for QQQ.
Holdings Overlap
We hold position weights for 137 holdings in NAC and 101 in QQQ, totalling 36.7% 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 137 positions we hold weights for in NAC and 101 in QQQ, against full books of 358 and 321.
You are not choosing between two funds in isolation.
Whichever of NAC 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, NAC or QQQ?
NAC has an expense ratio of 3.79% while QQQ charges 0.18%. QQQ is the cheaper option, by $361 a year on a $10,000 investment.
Which performed better, NAC or QQQ?
Over the past year NAC returned -8.56% vs +22.47% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (27 years), NAC annualized -0.35% vs +13.14% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NAC or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 13.1% for NAC. Worst drawdown: NAC -53.7% vs QQQ -83.0%.
Should I hold both NAC and QQQ?
NAC and QQQ have a monthly-return correlation of 0.19, 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, NAC or QQQ?
NAC yields 8.45% while QQQ yields 0.42%, so NAC currently pays the higher dividend yield.
Is QQQ better than NAC?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.