PBE vs. QQQM

Last updated Jun 4, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - PBE is a Health & Biotech Equities fund tracking the Dynamic Biotech & Genome Intellidex Index (AMEX), while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, PBE returned 3.06%/yr vs 18.07%/yr for QQQM. A 0.55 correlation means they provide meaningful diversification when combined. PBE charges 0.59%/yr vs 0.15%/yr for QQQM.

Performance

PBE vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBE achieves a 0.58% return, which is significantly lower than QQQM's 21.39% return.

PBE

• 1D: 2.04%
• 1M: 2.68%
• YTD: 0.58%
• 6M: 1.15%
• 1Y: 30.26%
• 3Y*: 10.44%
• 5Y*: 3.06%
• 10Y*: 7.55%

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

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

PBE vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PBE Invesco Dynamic Biotechnology & Genome ETF	0.58%	24.84%	1.10%	3.71%	-10.83%	1.54%	12.73%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Correlation

The correlation between PBE and QQQM is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.55

The correlation between PBE and QQQM shifts across timeframes, from 0.37 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

PBE vs. QQQM - Sectors Allocation Comparison

Sectors	PBE	QQQM
Healthcare	100.0%	4.2%
Financial Services	0.0%	0.2%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

PBE vs. QQQM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBE

PBE Risk / Return Rank: 47
PBE Sharpe Ratio Rank: 46
PBE Sortino Ratio Rank: 49
PBE Omega Ratio Rank: 44
PBE Calmar Ratio Rank: 52
PBE Martin Ratio Rank: 44

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBE vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) and Invesco NASDAQ 100 ETF (QQQM). 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.

	PBE	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.65	-1.03
Sortino ratio: Return per unit of downside risk	2.44	3.46	-1.02
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	2.59	3.53	-0.94
Martin ratio: Return relative to average drawdown	7.27	13.52	-6.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBE vs. QQQM - Sharpe Ratio Comparison

The current PBE Sharpe Ratio is 1.63, which is lower than the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of PBE and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PBE	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	2.65	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.82	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.85	-0.52

Drawdowns

PBE vs. QQQM - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for PBE and QQQM.

Drawdown Indicators

	PBE	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-45.69%	-35.04%	-10.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-11.96%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-22.70%	+0.27%
Max Drawdown (5Y) Largest decline over 5 years	-34.71%	-35.04%	+0.33%
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	—	—
Current Drawdown Current decline from peak	-3.62%	-0.20%	-3.42%
Average Drawdown Average peak-to-trough decline	-16.24%	-8.25%	-7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	3.11%	+1.06%

Volatility

PBE vs. QQQM - Volatility Comparison

Invesco Dynamic Biotechnology & Genome ETF (PBE) has a higher volatility of 5.63% compared to Invesco NASDAQ 100 ETF (QQQM) at 4.48%. This indicates that PBE's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBE	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	4.48%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	12.05%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	15.91%	+2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	22.24%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	22.12%	+2.80%

PBE vs. QQQM - Expense Ratio Comparison

PBE has a 0.59% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

PBE vs. QQQM - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.05%, more than QQQM's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBE Invesco Dynamic Biotechnology & Genome ETF	1.05%	1.00%	0.05%	0.02%	0.00%	0.00%	0.04%	0.00%	0.00%	0.57%	0.38%	1.12%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBE and QQQM in my portfolio?

PBE and QQQM have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBE or QQQM?

PBE has higher volatility (5.63%) compared to QQQM (4.48%). In terms of maximum drawdown, PBE dropped -45.69% vs QQQM's -35.04%.

Which ETF is better, PBE or QQQM?

On 5-year performance, QQQM leads with 18.07% vs 3.06% for PBE. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBE or QQQM?

Over the 5-year period, QQQM has performed better with a 18.07% return vs 3.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBE or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.59% for PBE.

Which ETF pays a higher dividend yield, PBE or QQQM?

PBE has the higher dividend yield at 1.05%, compared with 0.41% for QQQM.

What is the main difference between PBE and QQQM?

PBE is categorized as Health & Biotech Equities, while QQQM is Nasdaq-100. PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX), while QQQM tracks NASDAQ-100 Index. Their fees differ too: 0.59% for PBE and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 1.63), 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.