PXF vs QQQ
Invesco RAFI Developed Markets ex-US ETF vs Invesco QQQ Trust, Series 1
Which is better, PXF or QQQ?
Large Cap Value against Large Cap Growth.
QQQ has a lower expense ratio. PXF led over 1Y, QQQ over 3Y, 5Y and the full window. PXF is less concentrated, with 14.8% of the fund in its ten largest positions against 46.5%.
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 | PXF | QQQ |
|---|---|---|
| Expense Ratio | 0.43% | 0.18%Best |
| AUM | $3.0B | $483.5B |
| Dividend Yield | 2.99% | 0.44% |
| Holdings | 1,040 | 107 |
| YTD Return | +19.60%Best | +17.95% |
| 1Y Return | +31.66%Best | +21.77% |
| 3Y Return (annualized) | +23.77% | +25.63%Best |
| 5Y Return (annualized) | +14.96% | +15.24%Best |
| Volatility (annualized) | 19.4% | 18.9%Best |
| Max Drawdown | -65.7% | -53.5%Best |
| $10,000 over 5 years | $20,079 | $20,324Best |
| Top 10 Weight | 14.8%Best | 46.5% |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Growth |
| Inception | Jun 25, 2007 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Jun 25, 2007 to Sep 18, 2026 (19.2 years).
PXF 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.
PXF vs QQQ Performance
Invesco RAFI Developed Markets ex-US ETF (PXF) is an ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year PXF returned +31.66% while QQQ returned +21.77%. Year to date, PXF is up 19.60% versus a gain of 17.95% for QQQ.
Over three years, PXF compounded at +23.77% per year against +25.63% for QQQ; over five years the annualized figures are +14.96% and +15.24% respectively. Across the full 19-year window we track, QQQ has the edge at +15.44% annualized vs +3.46%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PXF has been the more volatile fund, with annualized monthly volatility of 19.4% compared with 18.9% for QQQ. 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 -65.7% for PXF 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PXF charges 0.43% per year while QQQ charges 0.18%. On a $10,000 position that is $43 vs $18 annually, a gap of $25 per year that compounds over a long holding period. On income, PXF currently yields 2.99% against 0.44% for QQQ.
Holdings Overlap
0.6% of PXF's money is in holdings QQQ also owns. 2.6% of QQQ's money is in holdings PXF also owns.
QQQ and PXF share little of their money.
6 positions in common, counted across the 962 positions we hold weights for in PXF and 102 in QQQ, against full books of 1,040 and 107.
What only one of them owns
Our book lists 94 positions for QQQ that do not appear in our book for PXF (96.8% of the fund), and 33 for PXF that do not appear in QQQ (10.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PXF | Weight in QQQ | Difference |
|---|---|---|---|
| ASL:ASAsml Holding Nv Unsponsored Adr Ordinary Shares | 0.40% | 0.68% | 0.28% |
| SHOP:CAShopify Inc | 0.07% | 0.77% | 0.70% |
| ARMArm Holdings Plc Adr | 0.00% | 0.51% | 0.51% |
| NXPINxp Semiconductors Nv Sedol B505Pn7 | 0.12% | 0.26% | 0.14% |
| FER:ASFerrovial Se | 0.01% | 0.21% | 0.20% |
| TRI:CAThomson Reuters Corp. | 0.04% | 0.17% | 0.13% |
You are not choosing between two funds in isolation.
Whichever of PXF 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, PXF or QQQ?
PXF has an expense ratio of 0.43% while QQQ charges 0.18%. QQQ is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, PXF or QQQ?
Over the past year PXF returned +31.66% vs +21.77% for QQQ, so PXF leads on 1-year performance. Over the longest common window we track (19 years), PXF annualized +3.46% vs +15.44% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PXF or QQQ?
PXF has been the more volatile fund at 19.4% annualized versus 18.9% for QQQ. Worst drawdown: PXF -65.7% vs QQQ -53.5%.
Should I hold both PXF and QQQ?
PXF and QQQ have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PXF and QQQ?
2.6% of QQQ's money is in holdings PXF also owns. 2.6% of QQQ's is in holdings PXF also owns. They hold 6 positions in common, counted across the 962 positions we hold weights for in PXF and 102 in QQQ.
Which pays a higher dividend, PXF or QQQ?
PXF yields 2.99% while QQQ yields 0.44%, so PXF currently pays the higher dividend yield.
Is QQQ better than PXF?
QQQ has a lower expense ratio. PXF led over 1Y, QQQ over 3Y, 5Y and the full window. PXF is less concentrated, with 14.8% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.