PVI vs QQQ
Invesco Floating Rate Municipal Income ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. PVI offers more diversification with 154 holdings.
Side-by-Side Comparison
| Metric | PVI | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.18% | |
| AUM | $31M | $496.3B | |
| Dividend Yield | 2.17% | 0.44% | |
| Holdings | 154 | 108 | |
| YTD Return | +1.23% | +16.23% | |
| 1Y Return | +2.10% | +26.23% | |
| 3Y Return (annualized) | +2.48% | +25.75% | |
| 5Y Return (annualized) | +2.01% | +14.78% | |
| Volatility (annualized) | 0.5% | 30.6% | |
| Max Drawdown | -4.8% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Nov 15, 2007 | Mar 10, 1999 |
PVI vs QQQ Performance
Invesco Floating Rate Municipal Income ETF (PVI) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PVI returned +2.10% while QQQ returned +26.23%. Year to date, PVI is up 1.23% versus a gain of 16.23% for QQQ.
Over three years, PVI compounded at +2.48% per year against +25.75% for QQQ; over five years the annualized figures are +2.01% and +14.78% respectively. Across the full 19-year window we track, QQQ has the edge at +13.02% annualized vs +0.50%. 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 0.5% for PVI. 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 -4.8% for PVI 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 -0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PVI charges 0.25% per year while QQQ charges 0.18%. On a $10,000 position that is $25 vs $18 annually, a gap of $7 per year that compounds over a long holding period. On income, PVI currently yields 2.17% against 0.44% for QQQ.
Holdings Overlap
PVI and QQQ share 0 holdings out of 179 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, PVI or QQQ?
PVI has an expense ratio of 0.25% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, PVI or QQQ?
Over the past year PVI returned +2.10% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), PVI annualized +0.50% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, PVI or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 0.5% for PVI. Worst drawdown: PVI -4.8% vs QQQ -83.0%.
Should I hold both PVI and QQQ?
PVI and QQQ have a monthly-return correlation of -0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PVI and QQQ?
PVI and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 179 unique securities.
Which pays a higher dividend, PVI or QQQ?
PVI yields 2.17% while QQQ yields 0.44%, so PVI currently pays the higher dividend yield.
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