PIO vs QQQ
Invesco Global Water ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | PIO | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.18% | |
| AUM | $278M | $496.3B | |
| Dividend Yield | 0.90% | 0.44% | |
| Holdings | 48 | 108 | |
| YTD Return | +0.95% | +16.23% | |
| 1Y Return | -0.72% | +26.23% | |
| 3Y Return (annualized) | +9.66% | +25.75% | |
| 5Y Return (annualized) | +2.06% | +14.78% | |
| Volatility (annualized) | 19.6% | 30.6% | |
| Max Drawdown | -65.4% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jun 13, 2007 | Mar 10, 1999 |
PIO vs QQQ Performance
Invesco Global Water ETF (PIO) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PIO returned -0.72% while QQQ returned +26.23%. Year to date, PIO is up 0.95% versus a gain of 16.23% for QQQ.
Over three years, PIO compounded at +9.66% per year against +25.75% for QQQ; over five years the annualized figures are +2.06% and +14.78% respectively. Across the full 19-year window we track, QQQ has the edge at +13.02% annualized vs +3.44%. 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 19.6% for PIO. 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 -65.4% for PIO 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PIO charges 0.75% per year while QQQ charges 0.18%. On a $10,000 position that is $75 vs $18 annually, a gap of $57 per year that compounds over a long holding period. On income, PIO currently yields 0.90% against 0.44% for QQQ.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, PIO or QQQ?
PIO has an expense ratio of 0.75% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $57 per year of difference.
Which performed better, PIO or QQQ?
Over the past year PIO returned -0.72% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), PIO annualized +3.44% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, PIO or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 19.6% for PIO. Worst drawdown: PIO -65.4% vs QQQ -83.0%.
Should I hold both PIO and QQQ?
PIO and QQQ have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIO and QQQ?
PIO and QQQ share 2 common holdings with a 0.4% weight overlap. Combined, they hold 140 unique securities.
Which pays a higher dividend, PIO or QQQ?
PIO yields 0.90% while QQQ yields 0.44%, so PIO currently pays the higher dividend yield.
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