PICB vs QQQ
Invesco International Corporate Bond ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. PICB offers more diversification with 599 holdings.
Side-by-Side Comparison
| Metric | PICB | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.18% | |
| AUM | $356M | $455.8B | |
| Dividend Yield | 3.39% | 0.41% | |
| Holdings | 599 | 108 | |
| YTD Return | -0.48% | +19.68% | |
| 1Y Return | +0.33% | +26.75% | |
| 3Y Return (annualized) | +5.72% | +26.25% | |
| 5Y Return (annualized) | -2.12% | +15.39% | |
| Volatility (annualized) | 10.0% | 30.6% | |
| Max Drawdown | -38.1% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 3, 2010 | Mar 10, 1999 |
PICB vs QQQ Performance
Invesco International Corporate Bond ETF (PICB) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PICB returned +0.33% while QQQ returned +26.75%. Year to date, PICB is down 0.48% versus a gain of 19.68% for QQQ.
Over three years, PICB compounded at +5.72% per year against +26.25% for QQQ; over five years the annualized figures are -2.12% and +15.39% respectively. Across the full 16-year window we track, QQQ has the edge at +13.15% annualized vs +0.36%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 10.0% for PICB. 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 -38.1% for PICB and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PICB charges 0.50% per year while QQQ charges 0.18%. On a $10,000 position that is $50 vs $18 annually, a gap of $32 per year that compounds over a long holding period. On income, PICB currently yields 3.39% against 0.41% for QQQ.
Holdings Overlap
PICB and QQQ share 0 holdings out of 498 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PICB or QQQ?
PICB has an expense ratio of 0.50% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, PICB or QQQ?
Over the past year PICB returned +0.33% vs +26.75% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (16 years), PICB annualized +0.36% vs +13.15% for QQQ. Past performance does not guarantee future results.
Which is riskier, PICB or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 10.0% for PICB. Worst drawdown: PICB -38.1% vs QQQ -83.0%.
Should I hold both PICB and QQQ?
PICB and QQQ have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PICB and QQQ?
PICB and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 498 unique securities.
Which pays a higher dividend, PICB or QQQ?
PICB yields 3.39% while QQQ yields 0.41%, so PICB currently pays the higher dividend yield.
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