PIE vs QQQ
Invesco Dorsey Wright Emerging Markets Momentum ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. PIE delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | PIE | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.18% | |
| AUM | $237M | $455.8B | |
| Dividend Yield | 1.71% | 0.41% | |
| Holdings | 113 | 108 | |
| YTD Return | +36.59% | +17.46% | |
| 1Y Return | +48.70% | +26.02% | |
| 3Y Return (annualized) | +22.47% | +25.51% | |
| 5Y Return (annualized) | +7.58% | +15.12% | |
| Volatility (annualized) | 22.8% | 30.6% | |
| Max Drawdown | -73.1% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2007 | Mar 10, 1999 |
PIE vs QQQ Performance
Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PIE returned +48.70% while QQQ returned +26.02%. Year to date, PIE is up 36.59% versus a gain of 17.46% for QQQ.
Over three years, PIE compounded at +22.47% per year against +25.51% for QQQ; over five years the annualized figures are +7.58% and +15.12% respectively. Across the full 19-year window we track, QQQ has the edge at +13.08% annualized vs +2.07%. 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 22.8% for PIE. 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 -73.1% for PIE 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PIE charges 0.90% per year while QQQ charges 0.18%. On a $10,000 position that is $90 vs $18 annually, a gap of $72 per year that compounds over a long holding period. On income, PIE currently yields 1.71% against 0.41% for QQQ.
Holdings Overlap
PIE and QQQ share 0 holdings out of 205 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, PIE or QQQ?
PIE has an expense ratio of 0.90% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $72 per year of difference.
Which performed better, PIE or QQQ?
Over the past year PIE returned +48.70% vs +26.02% for QQQ, so PIE leads on 1-year performance. Over the longest common window we track (19 years), PIE annualized +2.07% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, PIE or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 22.8% for PIE. Worst drawdown: PIE -73.1% vs QQQ -83.0%.
Should I hold both PIE and QQQ?
PIE and QQQ have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIE and QQQ?
PIE and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 205 unique securities.
Which pays a higher dividend, PIE or QQQ?
PIE yields 1.71% while QQQ yields 0.41%, so PIE currently pays the higher dividend yield.
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