Correlation
The correlation between CDAZX and QQQ is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
CDAZX vs. QQQ
Compare and contrast key facts about Multi-Manager Directional Alternative Strategies Fund (CDAZX) and Invesco QQQ (QQQ).
CDAZX is managed by Columbia. It was launched on Jan 2, 2017. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CDAZX or QQQ.
Performance
CDAZX vs. QQQ - Performance Comparison
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Key characteristics
CDAZX:
1.37
QQQ:
0.62
CDAZX:
1.89
QQQ:
0.92
CDAZX:
1.24
QQQ:
1.13
CDAZX:
1.63
QQQ:
0.60
CDAZX:
4.67
QQQ:
1.94
CDAZX:
2.98%
QQQ:
7.02%
CDAZX:
10.68%
QQQ:
25.59%
CDAZX:
-30.93%
QQQ:
-82.98%
CDAZX:
-2.33%
QQQ:
-3.64%
Returns By Period
In the year-to-date period, CDAZX achieves a 2.44% return, which is significantly higher than QQQ's 1.69% return.
CDAZX
2.44%
3.57%
0.06%
14.56%
7.49%
11.13%
N/A
QQQ
1.69%
9.18%
2.15%
15.66%
19.78%
18.08%
17.69%
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CDAZX vs. QQQ - Expense Ratio Comparison
CDAZX has a 1.84% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
CDAZX vs. QQQ — Risk-Adjusted Performance Rank
CDAZX
QQQ
CDAZX vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Multi-Manager Directional Alternative Strategies Fund (CDAZX) and Invesco QQQ (QQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Dividends
CDAZX vs. QQQ - Dividend Comparison
CDAZX's dividend yield for the trailing twelve months is around 9.97%, more than QQQ's 0.58% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDAZX Multi-Manager Directional Alternative Strategies Fund | 9.97% | 10.22% | 1.58% | 11.48% | 7.39% | 0.00% | 0.78% | 50.34% | 5.53% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.58% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% |
Drawdowns
CDAZX vs. QQQ - Drawdown Comparison
The maximum CDAZX drawdown since its inception was -30.93%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for CDAZX and QQQ.
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Volatility
CDAZX vs. QQQ - Volatility Comparison
The current volatility for Multi-Manager Directional Alternative Strategies Fund (CDAZX) is 1.89%, while Invesco QQQ (QQQ) has a volatility of 5.62%. This indicates that CDAZX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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