PML vs QQQ
PIMCO Municipal Income Fund II vs Invesco QQQ Trust, Series 1
Which is better, PML or QQQ?
Municipal Bond against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window.
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 | PML | QQQ |
|---|---|---|
| Expense Ratio | 4.81% | 0.18%Best |
| AUM | $1.0B | $483.5B |
| Dividend Yield | 6.15% | 0.44% |
| Holdings | 364 | 107 |
| YTD Return | -3.17% | +15.86%Best |
| 1Y Return | -0.39% | +22.63%Best |
| 3Y Return (annualized) | -0.12% | +24.15%Best |
| 5Y Return (annualized) | -8.86% | +14.16%Best |
| Volatility (annualized) | 15.5%Best | 18.9% |
| Max Drawdown | -67.4% | -53.5%Best |
| $10,000 over 5 years | $6,288 | $19,390Best |
| Fund Family | PIMCO (US) | Invesco (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Growth |
| Inception | Jun 28, 2002 | Mar 10, 1999 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 26, 2002 to Sep 10, 2026 (24.2 years).
PML 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.
PML vs QQQ Performance
PIMCO Municipal Income Fund II (PML) is an ETF from PIMCO (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year PML returned -0.39% while QQQ returned +22.63%. Year to date, PML is down 3.17% versus a gain of 15.86% for QQQ.
Over three years, PML compounded at -0.12% per year against +24.15% for QQQ; over five years the annualized figures are -8.86% and +14.16% respectively. Across the full 24-year window we track, QQQ has the edge at +14.85% annualized vs -1.80%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.5% for PML. 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 -67.4% for PML and -53.5% 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 0.28. They move largely independently of each other.
Fees and Cost Over Time
PML charges 4.81% per year while QQQ charges 0.18%. On a $10,000 position that is $481 vs $18 annually, a gap of $463 per year that compounds over a long holding period. On income, PML currently yields 6.15% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 148 holdings in PML and 102 in QQQ, totalling 72.8% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 127 days apart, PML as of Mar 31, 2026 and QQQ as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 148 positions we hold weights for in PML and 102 in QQQ, against full books of 364 and 107.
You are not choosing between two funds in isolation.
Whichever of PML 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, PML or QQQ?
PML has an expense ratio of 4.81% while QQQ charges 0.18%. QQQ is the cheaper option, by $463 a year on a $10,000 investment.
Which performed better, PML or QQQ?
Over the past year PML returned -0.39% vs +22.63% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (24 years), PML annualized -1.80% vs +14.85% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PML or QQQ?
QQQ has been the more volatile fund at 18.9% annualized versus 15.5% for PML. Worst drawdown: PML -67.4% vs QQQ -53.5%.
Should I hold both PML and QQQ?
PML and QQQ have a monthly-return correlation of 0.28, 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, PML or QQQ?
PML yields 6.15% while QQQ yields 0.44%, so PML currently pays the higher dividend yield.
Is QQQ better than PML?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.