HMXIX vs. QQQX
HMXIX (AlphaCentric Premium Opportunity Fund) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both mutual funds - HMXIX is a Options Trading fund managed by AlphaCentric Funds, while QQQX is a Derivative Income fund actively managed by Nuveen. Over the past 10 years, HMXIX returned 7.58%/yr vs 13.43%/yr for QQQX. A 0.51 correlation means they provide meaningful diversification when combined. HMXIX charges 1.99%/yr vs 0.89%/yr for QQQX.
Performance
HMXIX vs. QQQX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HMXIX having a 7.82% return and QQQX slightly lower at 7.43%. Over the past 10 years, HMXIX has underperformed QQQX with an annualized return of 7.58%, while QQQX has yielded a comparatively higher 13.43% annualized return.
HMXIX
- 1D
- -0.35%
- 1M
- 0.73%
- YTD
- 7.82%
- 6M
- 6.69%
- 1Y
- 20.43%
- 3Y*
- 10.25%
- 5Y*
- 6.06%
- 10Y*
- 7.58%
QQQX
- 1D
- -2.09%
- 1M
- -2.20%
- YTD
- 7.43%
- 6M
- 7.82%
- 1Y
- 25.88%
- 3Y*
- 14.83%
- 5Y*
- 8.34%
- 10Y*
- 13.43%
HMXIX vs. QQQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMXIX AlphaCentric Premium Opportunity Fund | 7.82% | 8.73% | 8.86% | 13.36% | -10.62% | 7.82% | 27.93% | 16.54% | -5.61% | 2.71% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 7.43% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
Correlation
The correlation between HMXIX and QQQX is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2012 | 0.51 |
Over the past year, HMXIX and QQQX have become more correlated (0.74) than their long-term average of 0.51, meaning their price movements have been converging.
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Return for Risk
HMXIX vs. QQQX — Risk / Return Rank
HMXIX
QQQX
HMXIX vs. QQQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AlphaCentric Premium Opportunity Fund (HMXIX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HMXIX | QQQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.85 | -0.35 |
| Martin ratioReturn relative to average drawdown | 8.52 | 12.24 | -3.71 |
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Drawdowns
HMXIX vs. QQQX - Drawdown Comparison
The maximum HMXIX drawdown since its inception was -15.80%, smaller than the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for HMXIX and QQQX.
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Drawdown Indicators
| HMXIX | QQQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.80% | -57.25% | +41.45% |
Max Drawdown (1Y)Largest decline over 1 year | -8.69% | -9.11% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.80% | -22.80% | +7.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.80% | -29.33% | +13.53% |
Max Drawdown (10Y)Largest decline over 10 years | -15.80% | -35.96% | +20.16% |
Current DrawdownCurrent decline from peak | -2.23% | -5.62% | +3.39% |
Average DrawdownAverage peak-to-trough decline | -3.45% | -8.01% | +4.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 2.12% | +0.42% |
Volatility
HMXIX vs. QQQX - Volatility Comparison
The current volatility for AlphaCentric Premium Opportunity Fund (HMXIX) is 5.11%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 6.07%. This indicates that HMXIX experiences smaller price fluctuations and is considered to be less risky than QQQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMXIX | QQQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 6.07% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 9.60% | 12.46% | -2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.92% | 15.14% | -2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.74% | 19.94% | -9.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.67% | 21.11% | -10.44% |
HMXIX vs. QQQX - Expense Ratio Comparison
HMXIX has a 1.99% expense ratio, which is higher than QQQX's 0.89% expense ratio.
Dividends
HMXIX vs. QQQX - Dividend Comparison
HMXIX's dividend yield for the trailing twelve months is around 5.69%, less than QQQX's 8.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMXIX AlphaCentric Premium Opportunity Fund | 5.69% | 6.13% | 2.17% | 0.00% | 0.00% | 4.78% | 2.26% | 0.00% | 0.00% | 0.47% | 0.16% | 0.00% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.45% | 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
HMXIX and QQQX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQX has higher volatility (6.07%) compared to HMXIX (5.11%). In terms of maximum drawdown, HMXIX dropped -15.80% vs QQQX's -57.25%.
QQQX currently has the higher Sharpe Ratio (1.72 vs 1.68), 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.
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