FIMPX vs. QQQX

Last updated Jun 6, 2026

FIMPX (Nuveen Small Cap Growth Opportunities Fund) and QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund) are both mutual funds - FIMPX is a Small Cap Growth Equities fund managed by Nuveen, while QQQX is a Large Cap Growth Equities fund tracking the Nasdaq 100 Index. Over the past 10 years, FIMPX returned 11.41%/yr vs 13.09%/yr for QQQX. A 0.67 correlation means they provide meaningful diversification when combined. FIMPX charges 0.96%/yr vs 0.92%/yr for QQQX.

Performance

FIMPX vs. QQQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Small Cap Growth Opportunities Fund (FIMPX) and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIMPX achieves a 10.18% return, which is significantly higher than QQQX's 8.16% return. Over the past 10 years, FIMPX has underperformed QQQX with an annualized return of 11.41%, while QQQX has yielded a comparatively higher 13.09% annualized return.

FIMPX

• 1D: 1.24%
• 1M: 2.80%
• YTD: 10.18%
• 6M: 7.04%
• 1Y: 26.97%
• 3Y*: 18.20%
• 5Y*: 3.26%
• 10Y*: 11.41%

QQQX

• 1D: -2.68%
• 1M: -1.31%
• YTD: 8.16%
• 6M: 10.10%
• 1Y: 30.63%
• 3Y*: 14.39%
• 5Y*: 8.85%
• 10Y*: 13.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FIMPX vs. QQQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIMPX Nuveen Small Cap Growth Opportunities Fund	10.18%	12.08%	17.53%	18.92%	-27.45%	0.22%	47.96%	29.90%	-5.61%	17.00%
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	8.16%	14.87%	25.61%	21.68%	-27.39%	25.32%	15.75%	28.83%	-11.68%	39.19%

Correlation

The correlation between FIMPX and QQQX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	0.67

The correlation between FIMPX and QQQX has been stable across timeframes, ranging from 0.59 to 0.67 - a consistent structural relationship.

Return for Risk

FIMPX vs. QQQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIMPX

FIMPX Risk / Return Rank: 25
FIMPX Sharpe Ratio Rank: 26
FIMPX Sortino Ratio Rank: 25
FIMPX Omega Ratio Rank: 23
FIMPX Calmar Ratio Rank: 23
FIMPX Martin Ratio Rank: 26

QQQX

QQQX Risk / Return Rank: 65
QQQX Sharpe Ratio Rank: 53
QQQX Sortino Ratio Rank: 54
QQQX Omega Ratio Rank: 53
QQQX Calmar Ratio Rank: 78
QQQX Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FIMPX vs. QQQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Small Cap Growth Opportunities Fund (FIMPX) and Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX). 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.

	FIMPX	QQQX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.06	-0.67
Sortino ratio: Return per unit of downside risk	2.01	2.97	-0.96
Omega ratio: Gain probability vs. loss probability	1.24	1.38	-0.15
Calmar ratio: Return relative to maximum drawdown	1.64	3.38	-1.73
Martin ratio: Return relative to average drawdown	5.90	15.56	-9.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIMPX vs. QQQX - Sharpe Ratio Comparison

The current FIMPX Sharpe Ratio is 1.39, which is lower than the QQQX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of FIMPX and QQQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIMPX	QQQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	2.06	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.45	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.62	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.47	+0.07

Drawdowns

FIMPX vs. QQQX - Drawdown Comparison

The maximum FIMPX drawdown since its inception was -58.32%, roughly equal to the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for FIMPX and QQQX.

Drawdown Indicators

	FIMPX	QQQX	Difference
Max Drawdown Largest peak-to-trough decline	-58.32%	-57.25%	-1.07%
Max Drawdown (1Y) Largest decline over 1 year	-16.72%	-9.11%	-7.61%
Max Drawdown (3Y) Largest decline over 3 years	-27.99%	-22.80%	-5.19%
Max Drawdown (5Y) Largest decline over 5 years	-46.29%	-29.33%	-16.96%
Max Drawdown (10Y) Largest decline over 10 years	-46.29%	-35.96%	-10.33%
Current Drawdown Current decline from peak	0.00%	-4.98%	+4.98%
Average Drawdown Average peak-to-trough decline	-14.21%	-8.02%	-6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.64%	1.97%	+2.67%

Volatility

FIMPX vs. QQQX - Volatility Comparison

Nuveen Small Cap Growth Opportunities Fund (FIMPX) has a higher volatility of 5.71% compared to Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) at 5.09%. This indicates that FIMPX's price experiences larger fluctuations and is considered to be riskier than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIMPX	QQQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	5.09%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	15.03%	11.92%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	19.72%	14.98%	+4.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.98%	19.85%	+4.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.86%	21.08%	+2.78%

FIMPX vs. QQQX - Expense Ratio Comparison

FIMPX has a 0.96% expense ratio, which is higher than QQQX's 0.92% expense ratio.

Dividends

FIMPX vs. QQQX - Dividend Comparison

FIMPX's dividend yield for the trailing twelve months is around 4.99%, less than QQQX's 7.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIMPX Nuveen Small Cap Growth Opportunities Fund	4.99%	5.50%	0.00%	0.00%	0.00%	7.33%	10.34%	0.00%	15.29%	11.52%	0.39%	9.04%
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	7.61%	7.85%	6.73%	7.26%	9.66%	5.85%	6.00%	6.49%	8.40%	5.95%	7.54%	7.23%

Frequently Asked Questions

Can I hold both FIMPX and QQQX in my portfolio?

FIMPX and QQQX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIMPX or QQQX?

FIMPX has higher volatility (5.71%) compared to QQQX (5.09%). In terms of maximum drawdown, FIMPX dropped -58.32% vs QQQX's -57.25%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (2.06 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.