QQQX vs. JCE
QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) and JCE (Nuveen Core Equity Alpha Fund) are both mutual funds - QQQX is a Derivative Income fund actively managed by Nuveen, while JCE is a Large Cap Growth Equities fund actively managed by Nuveen. Both are actively managed. Over the past 10 years, QQQX returned 13.04%/yr vs 12.40%/yr for JCE. Their 0.63 correlation means they have sometimes moved together and sometimes differently. QQQX charges 0.89%/yr vs 1.00%/yr for JCE.
Performance
QQQX vs. JCE - Performance Comparison
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Returns By Period
In the year-to-date period, QQQX achieves a 12.49% return, which is significantly higher than JCE's 11.25% return. Both investments have delivered pretty close results over the past 10 years, with QQQX having a 13.04% annualized return and JCE not far behind at 12.40%.
QQQX
- 1D
- 1.90%
- 1M
- 1.83%
- 6M
- 15.57%
- YTD
- 12.49%
- 1Y
- 25.62%
- 3Y*
- 17.82%
- 5Y*
- 9.00%
- 10Y*
- 13.04%
- ALL TIME*
- 11.09%
JCE
- 1D
- 1.50%
- 1M
- 3.92%
- 6M
- 11.39%
- YTD
- 11.25%
- 1Y
- 20.02%
- 3Y*
- 19.89%
- 5Y*
- 11.86%
- 10Y*
- 12.40%
- ALL TIME*
- 10.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $702.25K | $613.78K | $689.94K | |
| $2.45M | $3.62M | $3.37M |
QQQX vs. JCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 12.49% | 14.87% | 25.61% | 21.68% | -27.39% | 25.32% | 15.75% | 28.83% | -11.68% | 39.19% |
JCE Nuveen Core Equity Alpha Fund | 11.25% | 9.06% | 27.90% | 10.67% | -14.29% | 47.67% | 3.59% | 30.50% | -11.11% | 31.98% |
Correlation
The correlation between QQQX and JCE is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2007 | 0.63 |
The correlation between QQQX and JCE shifts across timeframes, from 0.63 (10 years) to 0.79 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
QQQX vs. JCE — Risk / Return Rank
QQQX
JCE
QQQX vs. JCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) and Nuveen Core Equity Alpha Fund (JCE). 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 | JCE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.85 | +0.97 |
| Martin ratioReturn relative to average drawdown | 9.98 | 8.48 | +1.50 |
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Drawdowns
QQQX vs. JCE - Drawdown Comparison
The maximum QQQX drawdown since its inception was -57.25%, roughly equal to the maximum JCE drawdown of -57.63%. Use the drawdown chart below to compare losses from any high point for QQQX and JCE.
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Drawdown Indicators
| QQQX | JCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.25% | -57.63% | +0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -10.86% | +1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -22.80% | -19.00% | -3.80% |
Max Drawdown (5Y)Largest decline over 5 years | -29.33% | -30.24% | +0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -35.96% | -43.56% | +7.60% |
Current DrawdownCurrent decline from peak | -1.17% | 0.00% | -1.17% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -9.19% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.37% | +0.20% |
Volatility
QQQX vs. JCE - Volatility Comparison
Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) has a higher volatility of 5.56% compared to Nuveen Core Equity Alpha Fund (JCE) at 4.96%. This indicates that QQQX's price experiences larger fluctuations and is considered to be riskier than JCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QQQX | JCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 4.96% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.01% | 11.54% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.44% | 14.40% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.16% | 23.07% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 22.55% | -1.36% |
QQQX vs. JCE - Expense Ratio Comparison
QQQX has a 0.89% expense ratio, which is lower than JCE's 1.00% expense ratio.
Dividends
QQQX vs. JCE - Dividend Comparison
QQQX's dividend yield for the trailing twelve months is around 8.07%, more than JCE's 7.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JCE Nuveen Core Equity Alpha Fund | 7.93% | 8.03% | 8.05% | 9.45% | 17.22% | 9.89% | 6.57% | 6.84% | 9.23% | 17.33% | 8.68% | 19.27% |
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund | 8.07% | 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 JCE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQX has higher volatility (5.56%) compared to JCE (4.96%). In terms of maximum drawdown, QQQX dropped -57.25% vs JCE's -57.63%.
QQQX currently has the higher Sharpe Ratio (1.57 vs 1.40), 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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