XQQQX vs. QQQX

Last updated Jul 11, 2026

XQQQX (Nuveen NASDAQ 100 Dynamic Overwrite Fund) and QQQX (Nuveen Nasdaq 100 Dynamic Overwrite Fund) are both mutual funds - XQQQX is a Large Cap Growth Equities fund tracking the Nasdaq 100 Index, while QQQX is a Derivative Income fund actively managed by Nuveen. XQQQX is passively managed, while QQQX is actively managed. Over the past 10 years, XQQQX returned 10.29%/yr vs 13.29%/yr for QQQX. A 0.73 correlation means they provide meaningful diversification when combined. XQQQX charges 0.92%/yr vs 0.89%/yr for QQQX.

Performance

XQQQX vs. QQQX - Performance Comparison

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

Returns By Period

In the year-to-date period, XQQQX achieves a 2.72% return, which is significantly lower than QQQX's 11.94% return. Over the past 10 years, XQQQX has underperformed QQQX with an annualized return of 10.29%, while QQQX has yielded a comparatively higher 13.29% annualized return.

XQQQX

• 1D: 1.37%
• 1M: -1.27%
• 6M: 2.25%
• YTD: 2.72%
• 1Y: 12.27%
• 3Y*: 14.98%
• 5Y*: 8.11%
• 10Y*: 10.29%

QQQX

• 1D: 0.59%
• 1M: 0.95%
• 6M: 11.71%
• YTD: 11.94%
• 1Y: 26.72%
• 3Y*: 16.32%
• 5Y*: 9.01%
• 10Y*: 13.29%

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

XQQQX vs. QQQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XQQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	2.72%	9.55%	27.22%	35.21%	-27.72%	19.87%	16.62%	25.33%	-9.38%	16.84%
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	11.94%	14.87%	25.61%	21.68%	-27.39%	25.32%	15.75%	28.83%	-11.68%	39.19%

Correlation

The correlation between XQQQX and QQQX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.73

The correlation between XQQQX and QQQX shifts across timeframes, from 0.68 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

XQQQX vs. QQQX — Risk / Return Rank

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

XQQQX

XQQQX Risk / Return Rank: 21
XQQQX Sharpe Ratio Rank: 20
XQQQX Sortino Ratio Rank: 19
XQQQX Omega Ratio Rank: 21
XQQQX Calmar Ratio Rank: 19
XQQQX Martin Ratio Rank: 24

QQQX

QQQX Risk / Return Rank: 68
QQQX Sharpe Ratio Rank: 59
QQQX Sortino Ratio Rank: 61
QQQX Omega Ratio Rank: 59
QQQX Calmar Ratio Rank: 80
QQQX Martin Ratio Rank: 81

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.

XQQQX vs. QQQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen NASDAQ 100 Dynamic Overwrite Fund (XQQQX) 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.

	XQQQX	QQQX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.70	-0.76
Sortino ratio: Return per unit of downside risk	1.37	2.45	-1.08
Omega ratio: Gain probability vs. loss probability	1.18	1.32	-0.14
Calmar ratio: Return relative to maximum drawdown	1.15	2.93	-1.78
Martin ratio: Return relative to average drawdown	4.38	11.37	-6.98

XQQQX vs. QQQX - Sharpe Ratio Comparison

The current XQQQX Sharpe Ratio is 0.94, which is lower than the QQQX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of XQQQX and QQQX, 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

XQQQX vs. QQQX - Drawdown Comparison

The maximum XQQQX drawdown since its inception was -55.29%, roughly equal to the maximum QQQX drawdown of -57.25%. Use the drawdown chart below to compare losses from any high point for XQQQX and QQQX.

Drawdown Indicators

	XQQQX	QQQX	Difference
Max Drawdown Largest peak-to-trough decline	-55.29%	-57.25%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.18%	-9.11%	-3.07%
Max Drawdown (3Y) Largest decline over 3 years	-21.59%	-22.80%	+1.21%
Max Drawdown (5Y) Largest decline over 5 years	-30.26%	-29.33%	-0.93%
Max Drawdown (10Y) Largest decline over 10 years	-30.26%	-35.96%	+5.70%
Current Drawdown Current decline from peak	-4.71%	-1.65%	-3.06%
Average Drawdown Average peak-to-trough decline	-14.85%	-8.00%	-6.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.35%	+0.67%

Volatility

XQQQX vs. QQQX - Volatility Comparison

Nuveen NASDAQ 100 Dynamic Overwrite Fund (XQQQX) and Nuveen Nasdaq 100 Dynamic Overwrite Fund (QQQX) have volatilities of 6.54% and 6.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XQQQX	QQQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	6.73%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	13.24%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	14.91%	15.70%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.13%	20.04%	-0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	21.13%	-1.87%

XQQQX vs. QQQX - Expense Ratio Comparison

XQQQX has a 0.92% expense ratio, which is higher than QQQX's 0.89% expense ratio.

Dividends

XQQQX vs. QQQX - Dividend Comparison

XQQQX has not paid dividends to shareholders, while QQQX's dividend yield for the trailing twelve months is around 8.11%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQX Nuveen Nasdaq 100 Dynamic Overwrite Fund	8.11%	7.85%	6.73%	7.26%	9.66%	5.85%	6.00%	6.49%	8.40%	5.95%	7.54%	7.23%
XQQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	0.00%	3.62%	6.19%	6.81%	10.06%	6.05%	5.93%	4.93%	2.29%	0.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XQQQX and QQQX in my portfolio?

XQQQX and QQQX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XQQQX or QQQX?

QQQX has higher volatility (6.73%) compared to XQQQX (6.54%). In terms of maximum drawdown, XQQQX dropped -55.29% vs QQQX's -57.25%.

Which has better risk-adjusted returns?

QQQX currently has the higher Sharpe Ratio (1.70 vs 0.94), 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.