QQQX vs. ENHNX
QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) and ENHNX (Cullen Enhanced Equity Income Fund) are both Derivative Income funds. Over the past 10 years, QQQX returned 13.17%/yr vs 7.25%/yr for ENHNX. At a 0.46 correlation, their price movements are largely independent. QQQX charges 0.89%/yr vs 0.75%/yr for ENHNX.
Performance
QQQX vs. ENHNX - Performance Comparison
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Returns By Period
In the year-to-date period, QQQX achieves a 5.00% return, which is significantly lower than ENHNX's 8.56% return. Over the past 10 years, QQQX has outperformed ENHNX with an annualized return of 13.17%, while ENHNX has yielded a comparatively lower 7.25% annualized return.
QQQX
- 1D
- -2.26%
- 1M
- -4.41%
- YTD
- 5.00%
- 6M
- 5.02%
- 1Y
- 21.69%
- 3Y*
- 13.96%
- 5Y*
- 7.89%
- 10Y*
- 13.17%
ENHNX
- 1D
- 0.81%
- 1M
- -0.18%
- YTD
- 8.56%
- 6M
- 7.84%
- 1Y
- 12.55%
- 3Y*
- 8.49%
- 5Y*
- 4.93%
- 10Y*
- 7.25%
QQQX vs. ENHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 5.00% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
ENHNX Cullen Enhanced Equity Income Fund | 8.56% | 6.20% | 6.89% | 0.99% | -1.98% | 21.67% | 1.52% | 18.16% | -5.10% | 10.69% |
Correlation
The correlation between QQQX and ENHNX 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 | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.46 |
Over the past year, the correlation between QQQX and ENHNX has dropped to 0.20 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
QQQX vs. ENHNX — Risk / Return Rank
QQQX
ENHNX
QQQX vs. ENHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) and Cullen Enhanced Equity Income Fund (ENHNX). 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 | ENHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.04 | +0.35 |
| Martin ratioReturn relative to average drawdown | 10.00 | 5.06 | +4.94 |
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Drawdowns
QQQX vs. ENHNX - Drawdown Comparison
The maximum QQQX drawdown since its inception was -57.25%, which is greater than ENHNX's maximum drawdown of -35.59%. Use the drawdown chart below to compare losses from any high point for QQQX and ENHNX.
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Drawdown Indicators
| QQQX | ENHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.25% | -35.59% | -21.66% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -6.34% | -2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -22.80% | -13.60% | -9.20% |
Max Drawdown (5Y)Largest decline over 5 years | -29.33% | -18.30% | -11.03% |
Max Drawdown (10Y)Largest decline over 10 years | -35.96% | -35.59% | -0.37% |
Current DrawdownCurrent decline from peak | -7.75% | -1.42% | -6.33% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -4.05% | -3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.55% | -0.37% |
Volatility
QQQX vs. ENHNX - Volatility Comparison
Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a higher volatility of 6.42% compared to Cullen Enhanced Equity Income Fund (ENHNX) at 3.08%. This indicates that QQQX's price experiences larger fluctuations and is considered to be riskier than ENHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQX | ENHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 3.08% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 7.12% | +5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.32% | 10.15% | +5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.97% | 12.82% | +7.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 15.44% | +5.68% |
QQQX vs. ENHNX - Expense Ratio Comparison
QQQX has a 0.89% expense ratio, which is higher than ENHNX's 0.75% expense ratio.
Dividends
QQQX vs. ENHNX - Dividend Comparison
QQQX's dividend yield for the trailing twelve months is around 8.65%, more than ENHNX's 5.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENHNX Cullen Enhanced Equity Income Fund | 5.67% | 4.38% | 5.99% | 6.22% | 3.82% | 7.77% | 5.86% | 5.69% | 6.45% | 6.82% | 7.67% | 0.00% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.65% | 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
QQQX and ENHNX 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.
QQQX has higher volatility (6.42%) compared to ENHNX (3.08%). In terms of maximum drawdown, QQQX dropped -57.25% vs ENHNX's -35.59%.
QQQX currently has the higher Sharpe Ratio (1.43 vs 1.28), 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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