QQQX vs. ARCC

Last updated Jul 21, 2026

QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) is Derivative Income fund actively managed by Nuveen, while ARCC (Ares Capital Corporation) is a stock. Over the past 10 years, QQQX returned 12.86%/yr vs 12.48%/yr for ARCC. At a 0.45 correlation, their price movements are largely independent.

Performance

QQQX vs. ARCC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) and Ares Capital Corporation (ARCC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQX achieves a 8.69% return, which is significantly higher than ARCC's -1.16% return. Both investments have delivered pretty close results over the past 10 years, with QQQX having a 12.86% annualized return and ARCC not far behind at 12.48%.

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%

ARCC

• 1D: -0.99%
• 1M: 5.27%
• 6M: -4.32%
• YTD: -1.16%
• 1Y: -9.88%
• 3Y*: 8.83%
• 5Y*: 8.74%
• 10Y*: 12.48%
• ALL TIME*: 12.05%

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

QQQX vs. ARCC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
ARCC Ares Capital Corporation	-1.16%	1.07%	19.78%	20.03%	-3.84%	36.14%	0.86%	31.30%	8.81%	4.50%

Correlation

The correlation between QQQX and ARCC is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.45

Fundamentals

Market Cap QQQX : $1.39B ARCC : $13.63B
EPS QQQX : $7.57 ARCC : $1.62
PE Ratio QQQX : 3.75 ARCC : 11.70
PEG Ratio QQQX : 0.43 ARCC : 1.75
PS Ratio QQQX : 8.63 ARCC : 5.11
PB Ratio QQQX : 1.01 ARCC : 0.97
Total Revenue (TTM) QQQX : $160.60M ARCC : $2.63B
Gross Profit (TTM) QQQX : $152.14M ARCC : $1.86B
EBITDA (TTM) QQQX : $369.75M ARCC : $2.05B

Return for Risk

QQQX vs. ARCC — Risk / Return Rank

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

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

ARCC

ARCC Risk / Return Rank: 23
ARCC Sharpe Ratio Rank: 21
ARCC Sortino Ratio Rank: 20
ARCC Omega Ratio Rank: 21
ARCC Calmar Ratio Rank: 26
ARCC Martin Ratio Rank: 26

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.

QQQX vs. ARCC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) and Ares Capital Corporation (ARCC). 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.

	QQQX	ARCC	Difference
Sharpe ratio: Return per unit of total volatility	1.40	-0.53	+1.93
Sortino ratio: Return per unit of downside risk	2.04	-0.62	+2.66
Omega ratio: Gain probability vs. loss probability	1.26	0.93	+0.33
Calmar ratio: Return relative to maximum drawdown	2.45	-0.53	+2.98
Martin ratio: Return relative to average drawdown	9.31	-0.91	+10.22

QQQX vs. ARCC - Sharpe Ratio Comparison

The current QQQX Sharpe Ratio is 1.40, which is higher than the ARCC Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of QQQX and ARCC, 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

QQQX vs. ARCC - Drawdown Comparison

The maximum QQQX drawdown since its inception was -57.25%, smaller than the maximum ARCC drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for QQQX and ARCC.

Drawdown Indicators

	QQQX	ARCC	Difference
Max Drawdown Largest peak-to-trough decline	-57.25%	-79.36%	+22.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-18.86%	+9.75%
Max Drawdown (3Y) Largest decline over 3 years	-22.80%	-19.35%	-3.45%
Max Drawdown (5Y) Largest decline over 5 years	-29.33%	-21.76%	-7.57%
Max Drawdown (10Y) Largest decline over 10 years	-35.96%	-56.77%	+20.81%
Current Drawdown Current decline from peak	-4.51%	-10.03%	+5.52%
Average Drawdown Average peak-to-trough decline	-7.99%	-9.12%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	11.21%	-8.82%

Volatility

QQQX vs. ARCC - Volatility Comparison

Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a higher volatility of 6.34% compared to Ares Capital Corporation (ARCC) at 4.12%. This indicates that QQQX's price experiences larger fluctuations and is considered to be riskier than ARCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQX	ARCC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.34%	4.12%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	13.52%	14.85%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	18.90%	-2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.07%	19.99%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	25.58%	-4.43%

Dividends

QQQX vs. ARCC - Dividend Comparison

QQQX's dividend yield for the trailing twelve months is around 8.36%, less than ARCC's 10.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARCC Ares Capital Corporation	10.12%	9.49%	8.77%	9.59%	10.12%	7.65%	9.47%	9.01%	9.88%	9.67%	9.22%	11.02%
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 QQQX and ARCC in my portfolio?

QQQX and ARCC have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQX or ARCC?

QQQX has higher volatility (6.34%) compared to ARCC (4.12%). In terms of maximum drawdown, QQQX dropped -57.25% vs ARCC's -79.36%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (1.40 vs -0.53), 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.