PBTP vs. QQQ

Last updated Jun 4, 2026

PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, PBTP returned 3.32%/yr vs 17.97%/yr for QQQ. At a 0.11 correlation, their price movements are largely independent. PBTP charges 0.07%/yr vs 0.18%/yr for QQQ.

Performance

PBTP vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBTP achieves a 2.15% return, which is significantly lower than QQQ's 21.30% return.

PBTP

• 1D: -0.02%
• 1M: 0.08%
• YTD: 2.15%
• 6M: 2.14%
• 1Y: 4.68%
• 3Y*: 5.23%
• 5Y*: 3.32%
• 10Y*: —

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

PBTP vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF	2.15%	5.98%	4.72%	4.53%	-3.02%	5.51%	4.89%	4.72%	0.59%	0.04%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	8.15%

Correlation

The correlation between PBTP and QQQ is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Sep 25, 2017	0.11

The correlation between PBTP and QQQ shifts across timeframes, from -0.05 (1 year) to 0.11 (5 years), reflecting how their relationship changes across market environments.

PBTP vs. QQQ - Sectors Allocation Comparison

Sectors	PBTP	QQQ
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%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

PBTP vs. QQQ — Risk / Return Rank

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

PBTP

PBTP Risk / Return Rank: 93
PBTP Sharpe Ratio Rank: 89
PBTP Sortino Ratio Rank: 95
PBTP Omega Ratio Rank: 93
PBTP Calmar Ratio Rank: 94
PBTP Martin Ratio Rank: 93

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ 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.

PBTP vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Invesco QQQ ETF (QQQ). 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.

	PBTP	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	3.05	2.64	+0.42
Sortino ratio: Return per unit of downside risk	5.10	3.45	+1.65
Omega ratio: Gain probability vs. loss probability	1.66	1.45	+0.21
Calmar ratio: Return relative to maximum drawdown	7.08	3.51	+3.57
Martin ratio: Return relative to average drawdown	24.51	13.49	+11.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBTP vs. QQQ - Sharpe Ratio Comparison

The current PBTP Sharpe Ratio is 3.05, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of PBTP and QQQ, 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

	PBTP	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	2.64	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	0.81	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.41	+0.89

Drawdowns

PBTP vs. QQQ - Drawdown Comparison

The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for PBTP and QQQ.

Drawdown Indicators

	PBTP	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-5.44%	-82.97%	+77.53%
Max Drawdown (1Y) Largest decline over 1 year	-0.66%	-11.96%	+11.30%
Max Drawdown (3Y) Largest decline over 3 years	-1.03%	-22.77%	+21.74%
Max Drawdown (5Y) Largest decline over 5 years	-5.44%	-35.12%	+29.68%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.02%	-0.26%	+0.24%
Average Drawdown Average peak-to-trough decline	-0.75%	-32.79%	+32.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	3.11%	-2.92%

Volatility

PBTP vs. QQQ - Volatility Comparison

The current volatility for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) is 0.40%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that PBTP experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBTP	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	4.49%	-4.09%
Volatility (6M) Calculated over the trailing 6-month period	1.03%	12.10%	-11.07%
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	15.94%	-14.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.85%	22.38%	-19.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.64%	22.29%	-19.65%

PBTP vs. QQQ - Expense Ratio Comparison

PBTP has a 0.07% expense ratio, which is lower than QQQ's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PBTP vs. QQQ - Dividend Comparison

PBTP's dividend yield for the trailing twelve months is around 3.10%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF	3.10%	3.82%	2.59%	2.36%	5.33%	3.12%	1.25%	2.12%	2.33%	0.73%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both PBTP and QQQ in my portfolio?

PBTP and QQQ have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBTP or QQQ?

QQQ has higher volatility (4.49%) compared to PBTP (0.40%). In terms of maximum drawdown, PBTP dropped -5.44% vs QQQ's -82.97%.

Which ETF is better, PBTP or QQQ?

On 5-year performance, QQQ leads with 17.97% vs 3.32% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBTP or QQQ?

Over the 5-year period, QQQ has performed better with a 17.97% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBTP or QQQ?

PBTP is cheaper with a 0.07% expense ratio, compared with 0.18% for QQQ.

Which ETF pays a higher dividend yield, PBTP or QQQ?

PBTP has the higher dividend yield at 3.10%, compared with 0.38% for QQQ.

What is the main difference between PBTP and QQQ?

PBTP is categorized as Inflation-Protected Bonds, while QQQ is Nasdaq-100. PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.07% for PBTP and 0.18% for QQQ.

Which has better risk-adjusted returns?

PBTP currently has the higher Sharpe Ratio (3.05 vs 2.64), 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.