QQQX vs. SCHG

Last updated Jun 5, 2026

QQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both Large Cap Growth Equities funds - QQQX tracks the Nasdaq 100 Index while SCHG tracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, QQQX returned 13.33%/yr vs 18.74%/yr for SCHG. A 0.77 correlation means they provide meaningful diversification when combined. QQQX charges 0.92%/yr vs 0.04%/yr for SCHG.

Performance

QQQX vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQX achieves a 11.14% return, which is significantly higher than SCHG's 6.78% return. Over the past 10 years, QQQX has underperformed SCHG with an annualized return of 13.33%, while SCHG has yielded a comparatively higher 18.74% annualized return.

QQQX

• 1D: -0.61%
• 1M: 2.18%
• YTD: 11.14%
• 6M: 14.21%
• 1Y: 32.80%
• 3Y*: 15.49%
• 5Y*: 9.44%
• 10Y*: 13.33%

SCHG

• 1D: 0.35%
• 1M: 4.73%
• YTD: 6.78%
• 6M: 6.01%
• 1Y: 24.63%
• 3Y*: 25.14%
• 5Y*: 15.67%
• 10Y*: 18.74%

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

QQQX vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SCHG Schwab U.S. Large-Cap Growth ETF	6.78%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between QQQX and SCHG is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Dec 14, 2009	0.77

The correlation between QQQX and SCHG has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

Return for Risk

QQQX vs. SCHG — Risk / Return Rank

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

QQQX

QQQX Risk / Return Rank: 68
QQQX Sharpe Ratio Rank: 57
QQQX Sortino Ratio Rank: 60
QQQX Omega Ratio Rank: 57
QQQX Calmar Ratio Rank: 79
QQQX Martin Ratio Rank: 88

SCHG

SCHG Risk / Return Rank: 40
SCHG Sharpe Ratio Rank: 46
SCHG Sortino Ratio Rank: 44
SCHG Omega Ratio Rank: 45
SCHG Calmar Ratio Rank: 31
SCHG Martin Ratio Rank: 34

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. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	QQQX	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.60	+0.64
Sortino ratio: Return per unit of downside risk	3.25	2.18	+1.08
Omega ratio: Gain probability vs. loss probability	1.42	1.28	+0.14
Calmar ratio: Return relative to maximum drawdown	3.61	1.51	+2.11
Martin ratio: Return relative to average drawdown	16.87	5.04	+11.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQX vs. SCHG - Sharpe Ratio Comparison

The current QQQX Sharpe Ratio is 2.24, which is higher than the SCHG Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of QQQX and SCHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQX	SCHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	1.60	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.71	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.87	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.85	-0.37

Drawdowns

QQQX vs. SCHG - Drawdown Comparison

The maximum QQQX drawdown since its inception was -57.25%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for QQQX and SCHG.

Drawdown Indicators

	QQQX	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-57.25%	-34.59%	-22.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-16.41%	+7.30%
Max Drawdown (3Y) Largest decline over 3 years	-22.80%	-23.39%	+0.59%
Max Drawdown (5Y) Largest decline over 5 years	-29.33%	-34.59%	+5.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.96%	-34.59%	-1.37%
Current Drawdown Current decline from peak	-2.36%	-1.44%	-0.92%
Average Drawdown Average peak-to-trough decline	-8.02%	-5.20%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	4.90%	-2.95%

Volatility

QQQX vs. SCHG - Volatility Comparison

Nuveen NASDAQ 100 Dynamic Overwrite Fund (QQQX) has a higher volatility of 4.31% compared to Schwab U.S. Large-Cap Growth ETF (SCHG) at 3.61%. This indicates that QQQX's price experiences larger fluctuations and is considered to be riskier than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQX	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	3.61%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	11.62%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.71%	15.49%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.82%	22.26%	-2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.06%	21.55%	-0.49%

QQQX vs. SCHG - Expense Ratio Comparison

QQQX has a 0.92% expense ratio, which is higher than SCHG's 0.04% expense ratio.

Dividends

QQQX vs. SCHG - Dividend Comparison

QQQX's dividend yield for the trailing twelve months is around 7.40%, more than SCHG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	7.40%	7.85%	6.73%	7.26%	9.66%	5.85%	6.00%	6.49%	8.40%	5.95%	7.54%	7.23%
SCHG Schwab U.S. Large-Cap Growth ETF	0.36%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both QQQX and SCHG in my portfolio?

QQQX and SCHG have a correlation of 0.82, 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 SCHG?

QQQX has higher volatility (4.31%) compared to SCHG (3.61%). In terms of maximum drawdown, QQQX dropped -57.25% vs SCHG's -34.59%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (2.24 vs 1.60), 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.