IDMO vs. PIE

Last updated Aug 4, 2026

IDMO (Invesco S&P International Developed Momentum ETF) and PIE (Invesco DWA Emerging Markets Momentum ETF) are both Momentum funds from Invesco - IDMO tracks the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index while PIE tracks the Dorsey Wright Emerging Markets Technical Leaders Index. Both are passively managed. Over the past 10 years, IDMO returned 12.61%/yr vs 8.78%/yr for PIE. Their 0.48 correlation means their historical movements had little consistent relationship. IDMO charges 0.25%/yr vs 0.90%/yr for PIE.

Performance

IDMO vs. PIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed Momentum ETF (IDMO) and Invesco DWA Emerging Markets Momentum ETF (PIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDMO achieves a 11.63% return, which is significantly lower than PIE's 29.63% return. Over the past 10 years, IDMO has outperformed PIE with an annualized return of 12.61%, while PIE has yielded a comparatively lower 8.78% annualized return.

IDMO

• 1D: 0.87%
• 1M: 1.71%
• 6M: 6.31%
• YTD: 11.63%
• 1Y: 25.73%
• 3Y*: 26.07%
• 5Y*: 15.23%
• 10Y*: 12.61%
• ALL TIME*: 9.11%

PIE

• 1D: 2.05%
• 1M: -6.22%
• 6M: 19.42%
• YTD: 29.63%
• 1Y: 45.94%
• 3Y*: 19.02%
• 5Y*: 5.41%
• 10Y*: 8.78%
• ALL TIME*: 2.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IDMO Invesco S&P International Developed Momentum ETF	$21.90M	$20.27M	$22.82M
PIE Invesco DWA Emerging Markets Momentum ETF	$1.91M	$4.11M	$2.85M

IDMO vs. PIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDMO Invesco S&P International Developed Momentum ETF	11.63%	42.17%	12.79%	20.16%	-12.03%	14.31%	22.01%	26.09%	-16.66%	29.21%
PIE Invesco DWA Emerging Markets Momentum ETF	29.63%	25.98%	-0.27%	13.71%	-28.77%	14.30%	21.23%	26.11%	-22.04%	41.80%

Correlation

The correlation between IDMO and PIE is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (10Y) Provides a long-term view across more market conditions.	0.55
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012	0.48

The correlation between IDMO and PIE shifts across timeframes, from 0.48 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

IDMO vs. PIE - Sectors Allocation Comparison

Sectors	IDMO	PIE
Financial Services	11.9%	14.6%
Basic Materials	4.7%	2.9%
Industrials	1.1%	15.3%
Energy	0.6%	3.7%
Technology	0.5%	52.7%
Healthcare	0.5%	3.2%
Consumer Defensive	0.4%	0.2%
Real Estate	0.3%	3.5%
Utilities	0.2%	1.2%
Communication Services	0.1%	1.3%
Consumer Cyclical	0.0%	1.5%

Return for Risk

IDMO vs. PIE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IDMO

IDMO Risk / Return Rank: 58
IDMO Sharpe Ratio Rank: 55
IDMO Sortino Ratio Rank: 57
IDMO Omega Ratio Rank: 55
IDMO Calmar Ratio Rank: 58
IDMO Martin Ratio Rank: 65

PIE

PIE Risk / Return Rank: 71
PIE Sharpe Ratio Rank: 71
PIE Sortino Ratio Rank: 62
PIE Omega Ratio Rank: 70
PIE Calmar Ratio Rank: 73
PIE Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IDMO vs. PIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed Momentum ETF (IDMO) and Invesco DWA Emerging Markets Momentum ETF (PIE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IDMO	PIE	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.70	-0.35
Sortino ratio: Return per unit of downside risk	1.99	2.15	-0.16
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.10	2.68	-0.58
Martin ratio: Return relative to average drawdown	8.02	10.63	-2.61

IDMO vs. PIE - Sharpe Ratio Comparison

The current IDMO Sharpe Ratio is 1.35, which is comparable to the PIE Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of IDMO and PIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IDMO vs. PIE - Drawdown Comparison

The maximum IDMO drawdown since its inception was -39.38%, smaller than the maximum PIE drawdown of -72.98%. Use the drawdown chart below to compare losses from any high point for IDMO and PIE.

Drawdown Indicators

	IDMO	PIE	Difference
Max Drawdown Largest peak-to-trough decline	-39.38%	-72.98%	+33.60%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-17.26%	+4.95%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-28.69%	+16.04%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-37.02%	+9.95%
Max Drawdown (10Y) Largest decline over 10 years	-31.34%	-40.32%	+8.98%
Current Drawdown Current decline from peak	-0.95%	-11.32%	+10.37%
Average Drawdown Average peak-to-trough decline	-9.68%	-25.90%	+16.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	4.34%	-1.12%

Volatility

IDMO vs. PIE - Volatility Comparison

The current volatility for Invesco S&P International Developed Momentum ETF (IDMO) is 7.16%, while Invesco DWA Emerging Markets Momentum ETF (PIE) has a volatility of 12.33%. This indicates that IDMO experiences smaller price fluctuations and is considered to be less risky than PIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDMO	PIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	12.33%	-5.17%
Volatility (6M) Calculated over the trailing 6-month period	17.53%	23.97%	-6.44%
Volatility (1Y) Calculated over the trailing 1-year period	19.24%	27.21%	-7.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.24%	21.35%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.97%	21.87%	-3.90%

IDMO vs. PIE - Expense Ratio Comparison

IDMO has a 0.25% expense ratio, which is lower than PIE's 0.90% expense ratio.

Dividends

IDMO vs. PIE - Dividend Comparison

IDMO's dividend yield for the trailing twelve months is around 3.58%, more than PIE's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDMO Invesco S&P International Developed Momentum ETF	3.58%	3.71%	2.24%	2.89%	3.66%	1.81%	1.63%	2.78%	3.27%	3.08%	2.18%	2.52%
PIE Invesco DWA Emerging Markets Momentum ETF	1.87%	2.28%	2.33%	2.59%	3.45%	1.28%	1.32%	2.29%	3.32%	1.63%	1.48%	0.80%

Frequently Asked Questions

Can I hold both IDMO and PIE in my portfolio?

IDMO and PIE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDMO or PIE?

PIE has higher volatility (12.33%) compared to IDMO (7.16%). In terms of maximum drawdown, IDMO dropped -39.38% vs PIE's -72.98%.

Which ETF is better, IDMO or PIE?

On 10-year performance, IDMO leads with 12.61% vs 8.78% for PIE. On fees, IDMO is cheaper at 0.25% per year. On volatility, IDMO has been the lower-risk option at 7.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDMO or PIE?

Over the 10-year period, IDMO has performed better with a 12.61% return vs 8.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDMO or PIE?

IDMO is cheaper with a 0.25% expense ratio, compared with 0.90% for PIE.

Which ETF pays a higher dividend yield, IDMO or PIE?

IDMO has the higher dividend yield at 3.58%, compared with 1.87% for PIE.

What is the main difference between IDMO and PIE?

IDMO tracks S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, while PIE tracks Dorsey Wright Emerging Markets Technical Leaders Index. Their fees differ too: 0.25% for IDMO and 0.90% for PIE.

Which has better risk-adjusted returns?

PIE currently has the higher Sharpe Ratio (1.70 vs 1.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.