PIPE vs QQQ
Invesco SteelPath MLP & Energy Infrastructure ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. PIPE delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | PIPE | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.18% | |
| AUM | $65M | $455.8B | |
| Dividend Yield | 3.75% | 0.41% | |
| Holdings | 28 | 108 | |
| YTD Return | +23.66% | +17.85% | |
| 1Y Return | +27.93% | +26.45% | |
| 3Y Return (annualized) | - | +26.07% | |
| 5Y Return (annualized) | - | +15.16% | |
| Volatility (annualized) | 14.5% | 30.6% | |
| Max Drawdown | -15.7% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Feb 20, 2025 | Mar 10, 1999 |
PIPE vs QQQ Performance
Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PIPE returned +27.93% while QQQ returned +26.45%. Year to date, PIPE is up 23.66% versus a gain of 17.85% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 14.5% for PIPE. 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 -15.7% for PIPE 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 -0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIPE 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, PIPE currently yields 3.75% against 0.41% for QQQ.
Holdings Overlap
PIPE and QQQ share 0 holdings out of 129 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, PIPE or QQQ?
PIPE 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, PIPE or QQQ?
Over the past year PIPE returned +27.93% vs +26.45% for QQQ, so PIPE leads on 1-year performance. Over the longest common window we track (2 years), PIPE annualized +16.11% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, PIPE or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 14.5% for PIPE. Worst drawdown: PIPE -15.7% vs QQQ -83.0%.
Should I hold both PIPE and QQQ?
PIPE and QQQ have a monthly-return correlation of -0.30, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIPE and QQQ?
PIPE and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 129 unique securities.
Which pays a higher dividend, PIPE or QQQ?
PIPE yields 3.75% while QQQ yields 0.41%, so PIPE currently pays the higher dividend yield.
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