MFQTX vs. QQQX
MFQTX (AMG Veritas Global Focus Fund) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both mutual funds - MFQTX is a Large Cap Growth Equities fund managed by AMG, while QQQX is a Derivative Income fund actively managed by Nuveen. Over the past 10 years, MFQTX returned 8.64%/yr vs 13.19%/yr for QQQX. A 0.69 correlation means they provide meaningful diversification when combined. MFQTX charges 0.88%/yr vs 0.89%/yr for QQQX.
Performance
MFQTX vs. QQQX - Performance Comparison
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Returns By Period
In the year-to-date period, MFQTX achieves a -1.74% return, which is significantly lower than QQQX's 11.14% return. Over the past 10 years, MFQTX has underperformed QQQX with an annualized return of 8.64%, while QQQX has yielded a comparatively higher 13.19% annualized return.
MFQTX
- 1D
- 0.12%
- 1M
- 2.37%
- 6M
- -4.48%
- YTD
- -1.74%
- 1Y
- -10.08%
- 3Y*
- 8.19%
- 5Y*
- 3.42%
- 10Y*
- 8.64%
QQQX
- 1D
- -0.72%
- 1M
- 0.23%
- 6M
- 11.06%
- YTD
- 11.14%
- 1Y
- 25.81%
- 3Y*
- 15.57%
- 5Y*
- 8.69%
- 10Y*
- 13.19%
MFQTX vs. QQQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFQTX AMG Veritas Global Focus Fund | -1.74% | -1.59% | 23.14% | 22.81% | -21.08% | 17.63% | 8.44% | 28.37% | -3.66% | 18.28% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 11.14% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
Correlation
The correlation between MFQTX and QQQX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.69 |
Over the past year, the correlation between MFQTX and QQQX has dropped to 0.47 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
MFQTX vs. QQQX — Risk / Return Rank
MFQTX
QQQX
MFQTX vs. QQQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG Veritas Global Focus Fund (MFQTX) 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.
| MFQTX | QQQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.30 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 2.84 | -3.30 |
| Martin ratioReturn relative to average drawdown | -0.93 | 10.99 | -11.92 |
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Drawdowns
MFQTX vs. QQQX - Drawdown Comparison
The maximum MFQTX drawdown since its inception was -57.67%, roughly equal to the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for MFQTX and QQQX.
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Drawdown Indicators
| MFQTX | QQQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.67% | -57.25% | -0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -23.00% | -9.11% | -13.89% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -22.80% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -27.69% | -29.33% | +1.64% |
Max Drawdown (10Y)Largest decline over 10 years | -37.58% | -35.96% | -1.62% |
Current DrawdownCurrent decline from peak | -13.49% | -2.36% | -11.13% |
Average DrawdownAverage peak-to-trough decline | -10.33% | -8.00% | -2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.36% | 2.35% | +9.01% |
Volatility
MFQTX vs. QQQX - Volatility Comparison
The current volatility for AMG Veritas Global Focus Fund (MFQTX) is 4.34%, while Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a volatility of 6.75%. This indicates that MFQTX 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
| MFQTX | QQQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 6.75% | -2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 10.84% | 13.26% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.08% | 15.75% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.52% | 20.05% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 21.14% | -2.18% |
MFQTX vs. QQQX - Expense Ratio Comparison
MFQTX has a 0.88% expense ratio, which is lower than QQQX's 0.89% expense ratio.
Dividends
MFQTX vs. QQQX - Dividend Comparison
MFQTX has not paid dividends to shareholders, while QQQX's dividend yield for the trailing twelve months is around 8.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFQTX AMG Veritas Global Focus Fund | 0.00% | 0.00% | 18.87% | 2.45% | 5.59% | 139.81% | 1.67% | 0.72% | 1.95% | 0.47% | 1.19% | 0.57% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.17% | 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
MFQTX and QQQX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQX has higher volatility (6.75%) compared to MFQTX (4.34%). In terms of maximum drawdown, MFQTX dropped -57.67% vs QQQX's -57.25%.
QQQX currently has the higher Sharpe Ratio (1.65 vs -0.62), 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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