KNGLX vs. QQQX

Last updated Jun 23, 2026

KNGLX (CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both Derivative Income funds. KNGLX is passively managed, while QQQX is actively managed. Over the past 5 years, KNGLX returned 4.77%/yr vs 8.85%/yr for QQQX. At a 0.49 correlation, their price movements are largely independent. KNGLX charges 1.20%/yr vs 0.89%/yr for QQQX.

Performance

KNGLX vs. QQQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund (KNGLX) 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, KNGLX achieves a 4.79% return, which is significantly lower than QQQX's 9.72% return.

KNGLX

• 1D: -0.09%
• 1M: 1.62%
• YTD: 4.79%
• 6M: 3.96%
• 1Y: 11.48%
• 3Y*: 5.40%
• 5Y*: 4.77%
• 10Y*: —

QQQX

• 1D: -0.42%
• 1M: -0.11%
• YTD: 9.72%
• 6M: 10.69%
• 1Y: 29.13%
• 3Y*: 15.64%
• 5Y*: 8.85%
• 10Y*: 13.67%

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

KNGLX vs. QQQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KNGLX CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund	4.79%	6.43%	2.91%	6.46%	-7.29%	23.23%	7.08%	26.58%	-4.64%
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	9.72%	14.87%	25.61%	21.68%	-27.39%	25.32%	15.75%	28.83%	-11.68%

Correlation

The correlation between KNGLX and QQQX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 2, 2018	0.49

Over the past year, the correlation between KNGLX and QQQX has dropped to 0.20 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

Return for Risk

KNGLX vs. QQQX — Risk / Return Rank

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

KNGLX

KNGLX Risk / Return Rank: 15
KNGLX Sharpe Ratio Rank: 16
KNGLX Sortino Ratio Rank: 17
KNGLX Omega Ratio Rank: 14
KNGLX Calmar Ratio Rank: 15
KNGLX Martin Ratio Rank: 13

QQQX

QQQX Risk / Return Rank: 62
QQQX Sharpe Ratio Rank: 52
QQQX Sortino Ratio Rank: 51
QQQX Omega Ratio Rank: 51
QQQX Calmar Ratio Rank: 75
QQQX Martin Ratio Rank: 81

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.

KNGLX vs. QQQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund (KNGLX) 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.

	KNGLX	QQQX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.95	-0.89
Sortino ratio: Return per unit of downside risk	1.62	2.77	-1.15
Omega ratio: Gain probability vs. loss probability	1.18	1.36	-0.18
Calmar ratio: Return relative to maximum drawdown	1.29	3.21	-1.92
Martin ratio: Return relative to average drawdown	3.40	13.97	-10.57

KNGLX vs. QQQX - Sharpe Ratio Comparison

The current KNGLX Sharpe Ratio is 1.06, which is lower than the QQQX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of KNGLX 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.

Drawdowns

KNGLX vs. QQQX - Drawdown Comparison

The maximum KNGLX drawdown since its inception was -31.48%, smaller than the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for KNGLX and QQQX.

Drawdown Indicators

	KNGLX	QQQX	Difference
Max Drawdown Largest peak-to-trough decline	-31.48%	-57.25%	+25.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-9.11%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-14.79%	-22.80%	+8.01%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-29.33%	+11.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.96%	—
Current Drawdown Current decline from peak	-3.62%	-3.61%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.62%	-8.01%	+3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.09%	+1.27%

Volatility

KNGLX vs. QQQX - Volatility Comparison

The current volatility for CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund (KNGLX) is 3.15%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 5.70%. This indicates that KNGLX 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.

Volatility by Period

	KNGLX	QQQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	5.70%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	12.36%	-4.47%
Volatility (1Y) Calculated over the trailing 1-year period	10.84%	15.01%	-4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	19.92%	-5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	21.12%	-4.00%

KNGLX vs. QQQX - Expense Ratio Comparison

KNGLX has a 1.20% expense ratio, which is higher than QQQX's 0.89% expense ratio.

Dividends

KNGLX vs. QQQX - Dividend Comparison

KNGLX's dividend yield for the trailing twelve months is around 12.50%, more than QQQX's 8.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KNGLX CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund	12.50%	8.02%	9.60%	7.99%	4.54%	4.41%	3.53%	4.53%	4.74%	0.00%	0.00%	0.00%
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	8.28%	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 KNGLX and QQQX in my portfolio?

KNGLX and QQQX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNGLX or QQQX?

QQQX has higher volatility (5.70%) compared to KNGLX (3.15%). In terms of maximum drawdown, KNGLX dropped -31.48% vs QQQX's -57.25%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (1.95 vs 1.06), 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.