PIE vs QQQ
Invesco Dorsey Wright Emerging Markets Momentum ETF vs Invesco QQQ Trust, Series 1
Which is better, PIE or QQQ?
Each has led over a different period.
QQQ has a lower expense ratio. PIE led over 1Y, QQQ over 3Y, 5Y and the full window. PIE is less concentrated, with 24.8% 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 | PIE | QQQ |
|---|---|---|
| Expense Ratio | 0.90% | 0.18%Best |
| AUM | $254M | $486.1B |
| Dividend Yield | 1.94% | 0.44% |
| Holdings | 115 | 107 |
| YTD Return | +41.94%Best | +17.44% |
| 1Y Return | +42.44%Best | +24.69% |
| 3Y Return (annualized) | +24.21% | +24.76%Best |
| 5Y Return (annualized) | +8.53% | +14.22%Best |
| Volatility (annualized) | 22.9% | 19.0%Best |
| Max Drawdown | -73.1% | -50.7%Best |
| $10,000 over 5 years | $15,057 | $19,441Best |
| Top 10 Weight | 24.8%Best | 46.5% |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Dec 28, 2007 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Dec 28, 2007 to Sep 8, 2026 (18.7 years).
PIE 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.
PIE vs QQQ Performance
Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is an ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year PIE returned +42.44% while QQQ returned +24.69%. Year to date, PIE is up 41.94% versus a gain of 17.44% for QQQ.
Over three years, PIE compounded at +24.21% per year against +24.76% for QQQ; over five years the annualized figures are +8.53% and +14.22% respectively. Across the full 19-year window we track, QQQ has the edge at +15.29% annualized vs +2.27%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIE has been the more volatile fund, with annualized monthly volatility of 22.9% compared with 19.0% 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 -73.1% for PIE and -50.7% 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
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 1.94% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 100 holdings in PIE and 102 in QQQ, totalling 99.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 100 positions we hold weights for in PIE and 102 in QQQ, against full books of 115 and 107.
What only one of them owns
Our book lists 94 positions for QQQ that do not appear in our book for PIE (96.8% of the fund), and 1 for PIE that do not appear in QQQ (0.6%).
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 PIE 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, PIE or QQQ?
PIE has an expense ratio of 0.90% while QQQ charges 0.18%. QQQ is the cheaper option, by $72 a year on a $10,000 investment.
Which performed better, PIE or QQQ?
Over the past year PIE returned +42.44% vs +24.69% for QQQ, so PIE leads on 1-year performance. Over the longest common window we track (19 years), PIE annualized +2.27% vs +15.29% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PIE or QQQ?
PIE has been the more volatile fund at 22.9% annualized versus 19.0% for QQQ. Worst drawdown: PIE -73.1% vs QQQ -50.7%.
Should I hold both PIE and QQQ?
PIE 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.
Which pays a higher dividend, PIE or QQQ?
PIE yields 1.94% while QQQ yields 0.44%, so PIE currently pays the higher dividend yield.
Is QQQ better than PIE?
QQQ has a lower expense ratio. PIE led over 1Y, QQQ over 3Y, 5Y and the full window. PIE is less concentrated, with 24.8% 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.