PBW vs QQQ
Invesco WilderHill Clean Energy ETF vs Invesco QQQ Trust, Series 1
Which is better, PBW or QQQ?
Small Cap Growth against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. PBW is less concentrated, with 21.6% of the fund in its ten largest positions against 46.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PBW | QQQ |
|---|---|---|
| Expense Ratio | 0.64% | 0.18%Best |
| AUM | $380M | $483.5B |
| Dividend Yield | 1.49% | 0.44% |
| Holdings | 70 | 107 |
| YTD Return | -5.20% | +21.18%Best |
| 1Y Return | +8.21% | +24.36%Best |
| 3Y Return (annualized) | +0.17% | +27.99%Best |
| 5Y Return (annualized) | -15.79% | +15.39%Best |
| Volatility (annualized) | 35.4% | 18.4%Best |
| Max Drawdown | -89.7% | -53.5%Best |
| $10,000 over 5 years | $4,235 | $20,457Best |
| Top 10 Weight | 21.6%Best | 46.5% |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Small Cap Growth | Large Cap Growth |
| Inception | Mar 3, 2005 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Mar 3, 2005 to Sep 23, 2026 (21.6 years).
PBW vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
PBW vs QQQ Performance
Invesco WilderHill Clean Energy ETF (PBW) is an ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year PBW returned +8.21% while QQQ returned +24.36%. Year to date, PBW is down 5.20% versus a gain of 21.18% for QQQ.
Over three years, PBW compounded at +0.17% per year against +27.99% for QQQ; over five years the annualized figures are -15.79% and +15.39% respectively. Across the full 22-year window we track, QQQ has the edge at +15.05% annualized vs -3.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBW has been the more volatile fund, with annualized monthly volatility of 35.4% compared with 18.4% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -89.7% for PBW and -53.5% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBW charges 0.64% per year while QQQ charges 0.18%. On a $10,000 position that is $64 vs $18 annually, a gap of $46 per year that compounds over a long holding period. On income, PBW currently yields 1.49% against 0.44% for QQQ.
Holdings Overlap
3.2% of PBW's money is in holdings QQQ also owns. 2.9% of QQQ's money is in holdings PBW also owns.
PBW and QQQ share little of their money.
2 positions in common, counted across the 71 positions we hold weights for in PBW and 102 in QQQ, against full books of 70 and 107.
What only one of them owns
Our book lists 94 positions for QQQ that do not appear in our book for PBW (94.7% of the fund), and 58 for PBW that do not appear in QQQ (80.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of PBW and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PBW or QQQ?
PBW has an expense ratio of 0.64% while QQQ charges 0.18%. QQQ is the cheaper option, by $46 a year on a $10,000 investment.
Which performed better, PBW or QQQ?
Over the past year PBW returned +8.21% vs +24.36% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (22 years), PBW annualized -3.77% vs +15.05% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBW or QQQ?
PBW has been the more volatile fund at 35.4% annualized versus 18.4% for QQQ. Worst drawdown: PBW -89.7% vs QQQ -53.5%.
Should I hold both PBW and QQQ?
PBW and QQQ have a monthly-return correlation of 0.71, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PBW and QQQ?
3.2% of PBW's money is in holdings QQQ also owns. 2.9% of QQQ's is in holdings PBW also owns. They hold 2 positions in common, counted across the 71 positions we hold weights for in PBW and 102 in QQQ.
Which pays a higher dividend, PBW or QQQ?
PBW yields 1.49% while QQQ yields 0.44%, so PBW currently pays the higher dividend yield.
Is QQQ better than PBW?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. PBW is less concentrated, with 21.6% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.