PWB vs QQQ
Invesco Large Cap Growth ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. PWB delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | PWB | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.18% | |
| AUM | $2.5B | $496.3B | |
| Dividend Yield | 0.00% | 0.44% | |
| Holdings | 53 | 108 | |
| YTD Return | +21.09% | +16.64% | |
| 1Y Return | +32.16% | +27.27% | |
| 3Y Return (annualized) | +31.05% | +25.96% | |
| 5Y Return (annualized) | +15.29% | +14.54% | |
| Volatility (annualized) | 16.6% | 30.6% | |
| Max Drawdown | -52.6% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Mar 3, 2005 | Mar 10, 1999 |
PWB vs QQQ Performance
Invesco Large Cap Growth ETF (PWB) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PWB returned +32.16% while QQQ returned +27.27%. Year to date, PWB is up 21.09% versus a gain of 16.64% for QQQ.
Over three years, PWB compounded at +31.05% per year against +25.96% for QQQ; over five years the annualized figures are +15.29% and +14.54% respectively. Across the full 22-year window we track, QQQ has the edge at +13.03% annualized vs +12.10%. 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 16.6% for PWB. 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 -52.6% for PWB 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PWB charges 0.55% per year while QQQ charges 0.18%. On a $10,000 position that is $55 vs $18 annually, a gap of $37 per year that compounds over a long holding period. On income, PWB currently yields 0.00% against 0.44% for QQQ.
Holdings Overlap
PWB and QQQ share 26 holdings out of 127 unique holdings combined, representing a 36.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PWB or QQQ?
PWB has an expense ratio of 0.55% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $37 per year of difference.
Which performed better, PWB or QQQ?
Over the past year PWB returned +32.16% vs +27.27% for QQQ, so PWB leads on 1-year performance. Over the longest common window we track (22 years), PWB annualized +12.10% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, PWB or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 16.6% for PWB. Worst drawdown: PWB -52.6% vs QQQ -83.0%.
Should I hold both PWB and QQQ?
PWB and QQQ have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between PWB and QQQ?
PWB and QQQ share 26 common holdings with a 36.9% weight overlap. Combined, they hold 127 unique securities.
Which pays a higher dividend, PWB or QQQ?
PWB yields 0.00% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
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