PIZ vs QQQ
Invesco Dorsey Wright Developed Markets Momentum ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. PIZ offers more diversification with 116 holdings.
Side-by-Side Comparison
| Metric | PIZ | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.18% | |
| AUM | $734M | $496.3B | |
| Dividend Yield | 1.63% | 0.44% | |
| Holdings | 116 | 108 | |
| YTD Return | +9.40% | +16.64% | |
| 1Y Return | +19.09% | +27.27% | |
| 3Y Return (annualized) | +23.37% | +25.96% | |
| 5Y Return (annualized) | +7.67% | +14.54% | |
| Volatility (annualized) | 20.4% | 30.6% | |
| Max Drawdown | -61.1% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2007 | Mar 10, 1999 |
PIZ vs QQQ Performance
Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PIZ returned +19.09% while QQQ returned +27.27%. Year to date, PIZ is up 9.40% versus a gain of 16.64% for QQQ.
Over three years, PIZ compounded at +23.37% per year against +25.96% for QQQ; over five years the annualized figures are +7.67% and +14.54% respectively. Across the full 19-year window we track, QQQ has the edge at +13.03% annualized vs +4.65%. 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 20.4% for PIZ. 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 -61.1% for PIZ 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PIZ charges 0.80% per year while QQQ charges 0.18%. On a $10,000 position that is $80 vs $18 annually, a gap of $62 per year that compounds over a long holding period. On income, PIZ currently yields 1.63% against 0.44% for QQQ.
Holdings Overlap
PIZ and QQQ share 1 holdings out of 201 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PIZ | Weight in QQQ | Difference |
|---|---|---|---|
| FER:AS | 0.69% | 0.21% | 0.48% |
Frequently Asked Questions
Which is cheaper, PIZ or QQQ?
PIZ has an expense ratio of 0.80% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, PIZ or QQQ?
Over the past year PIZ returned +19.09% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), PIZ annualized +4.65% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, PIZ or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 20.4% for PIZ. Worst drawdown: PIZ -61.1% vs QQQ -83.0%.
Should I hold both PIZ and QQQ?
PIZ and QQQ have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIZ and QQQ?
PIZ and QQQ share 1 common holdings with a 0.2% weight overlap. Combined, they hold 201 unique securities.
Which pays a higher dividend, PIZ or QQQ?
PIZ yields 1.63% while QQQ yields 0.44%, so PIZ currently pays the higher dividend yield.
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