MAIN vs. QQQX

Last updated Jul 21, 2026

MAIN (Main Street Capital Corporation) is a stock, while QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) is Derivative Income fund actively managed by Nuveen. Over the past 10 years, MAIN returned 13.39%/yr vs 12.86%/yr for QQQX. At a 0.37 correlation, their price movements are largely independent.

Performance

MAIN vs. QQQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Main Street Capital Corporation (MAIN) 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, MAIN achieves a -5.54% return, which is significantly lower than QQQX's 8.69% return. Both investments have delivered pretty close results over the past 10 years, with MAIN having a 13.39% annualized return and QQQX not far behind at 12.86%.

MAIN

• 1D: -1.41%
• 1M: 8.28%
• 6M: -11.20%
• YTD: -5.54%
• 1Y: -8.71%
• 3Y*: 18.72%
• 5Y*: 14.18%
• 10Y*: 13.39%
• ALL TIME*: 16.56%

QQQX

• 1D: -0.05%
• 1M: -1.35%
• 6M: 9.69%
• YTD: 8.69%
• 1Y: 22.25%
• 3Y*: 15.25%
• 5Y*: 8.37%
• 10Y*: 12.86%
• ALL TIME*: 10.91%

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

MAIN vs. QQQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MAIN Main Street Capital Corporation	-5.54%	10.74%	47.30%	28.22%	-11.37%	48.31%	-19.54%	36.88%	-8.27%	16.62%
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	8.69%	14.87%	25.61%	21.68%	-27.39%	25.32%	15.75%	28.83%	-11.68%	39.19%

Correlation

The correlation between MAIN and QQQX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 9, 2007	0.37

Fundamentals

Market Cap MAIN : $5.08B QQQX : $1.39B
EPS MAIN : $5.21 QQQX : $7.57
PE Ratio MAIN : 10.48 QQQX : 3.75
PEG Ratio MAIN : 1.19 QQQX : 0.43
PS Ratio MAIN : 6.97 QQQX : 8.63
PB Ratio MAIN : 1.60 QQQX : 1.01
Total Revenue (TTM) MAIN : $704.17M QQQX : $160.60M
Gross Profit (TTM) MAIN : $499.08M QQQX : $152.14M
EBITDA (TTM) MAIN : $396.90M QQQX : $369.75M

Return for Risk

MAIN vs. QQQX — Risk / Return Rank

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

MAIN

MAIN Risk / Return Rank: 29
MAIN Sharpe Ratio Rank: 30
MAIN Sortino Ratio Rank: 27
MAIN Omega Ratio Rank: 27
MAIN Calmar Ratio Rank: 32
MAIN Martin Ratio Rank: 32

QQQX

QQQX Risk / Return Rank: 47
QQQX Sharpe Ratio Rank: 37
QQQX Sortino Ratio Rank: 39
QQQX Omega Ratio Rank: 38
QQQX Calmar Ratio Rank: 62
QQQX Martin Ratio Rank: 59

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.

MAIN vs. QQQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Main Street Capital Corporation (MAIN) 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.

	MAIN	QQQX	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	1.40	-1.75
Sortino ratio: Return per unit of downside risk	-0.32	2.04	-2.36
Omega ratio: Gain probability vs. loss probability	0.96	1.26	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.39	2.45	-2.84
Martin ratio: Return relative to average drawdown	-0.70	9.31	-10.01

MAIN vs. QQQX - Sharpe Ratio Comparison

The current MAIN Sharpe Ratio is -0.35, which is lower than the QQQX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of MAIN 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

MAIN vs. QQQX - Drawdown Comparison

The maximum MAIN drawdown since its inception was -64.53%, which is greater than QQQX's maximum drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for MAIN and QQQX.

Drawdown Indicators

	MAIN	QQQX	Difference
Max Drawdown Largest peak-to-trough decline	-64.53%	-57.25%	-7.28%
Max Drawdown (1Y) Largest decline over 1 year	-22.43%	-9.11%	-13.32%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-22.80%	+0.37%
Max Drawdown (5Y) Largest decline over 5 years	-27.06%	-29.33%	+2.27%
Max Drawdown (10Y) Largest decline over 10 years	-64.53%	-35.96%	-28.57%
Current Drawdown Current decline from peak	-13.30%	-4.51%	-8.79%
Average Drawdown Average peak-to-trough decline	-7.36%	-7.99%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.47%	2.39%	+10.08%

Volatility

MAIN vs. QQQX - Volatility Comparison

The current volatility for Main Street Capital Corporation (MAIN) is 5.94%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 6.34%. This indicates that MAIN 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

	MAIN	QQQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	6.34%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	19.81%	13.52%	+6.29%
Volatility (1Y) Calculated over the trailing 1-year period	25.32%	15.97%	+9.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.60%	20.07%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	21.15%	+6.21%

Dividends

MAIN vs. QQQX - Dividend Comparison

MAIN's dividend yield for the trailing twelve months is around 7.88%, less than QQQX's 8.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAIN Main Street Capital Corporation	7.88%	7.00%	7.02%	8.55%	7.97%	5.74%	6.99%	6.76%	8.43%	7.49%	7.42%	9.15%
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	8.36%	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 MAIN and QQQX in my portfolio?

MAIN and QQQX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAIN or QQQX?

QQQX has higher volatility (6.34%) compared to MAIN (5.94%). In terms of maximum drawdown, MAIN dropped -64.53% vs QQQX's -57.25%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (1.40 vs -0.35), 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.