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PDP vs. QQQA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PDP vs. QQQA

Last updated Aug 2, 2026
Documentation

PDP (Invesco Dorsey Wright Momentum ETF) and QQQA (ProShares Nasdaq-100 Dorsey Wright Momentum ETF) are both exchange-traded funds - PDP is a Momentum fund tracking the Dorsey Wright Technical Leaders Index, while QQQA is a Nasdaq-100 fund tracking the NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross. Both are passively managed. Over the past 5 years, PDP returned 8.11%/yr vs 10.32%/yr for QQQA. Their correlation of 0.84 means they have usually moved in the same direction. PDP charges 0.62%/yr vs 0.58%/yr for QQQA.

Performance

PDP vs. QQQA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dorsey Wright Momentum ETF (PDP) and ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PDP achieves a 14.75% return, which is significantly lower than QQQA's 42.60% return.

PDP

1D
0.32%
1M
-5.52%
6M
9.33%
YTD
14.75%
1Y
20.18%
3Y*
18.14%
5Y*
8.11%
10Y*
12.35%
ALL TIME*
9.66%

QQQA

1D
0.67%
1M
-6.70%
6M
32.26%
YTD
42.60%
1Y
60.80%
3Y*
24.95%
5Y*
10.32%
10Y*
—
ALL TIME*
11.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

PDP

Invesco Dorsey Wright Momentum ETF
$3.96M$3.45M$3.85M

QQQA

ProShares Nasdaq-100 Dorsey Wright Momentum ETF
$2.36M$3.63M$3.95M

PDP vs. QQQA - Yearly Performance Comparison

2026 (YTD)20252024202320222021
PDP
Invesco Dorsey Wright Momentum ETF		14.75%8.37%26.06%20.88%-24.49%13.69%
QQQA
ProShares Nasdaq-100 Dorsey Wright Momentum ETF		42.60%9.87%16.17%24.98%-29.08%9.84%

Correlation

The correlation between PDP and QQQA is 0.85, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.85

Correlation (3Y)
Balances recent behavior with more history.

0.84

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.84

Correlation (All Time)
Calculated using the full available price history since May 20, 2021

0.84

The correlation between PDP and QQQA has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

PDP vs. QQQA - Sectors Allocation Comparison

Sectors
PDP
QQQA

Technology

42.9%
74.4%

Industrials

25.3%

-

Healthcare

8.4%
5.6%

Financial Services

6.0%

-

Energy

4.9%
5.9%

Basic Materials

4.7%

-

Consumer Cyclical

2.5%
3.1%

Consumer Defensive

1.3%

-

Communication Services

1.1%
11.0%

Real Estate

0.7%

-

Utilities

0.5%

-

Technology

PDP
42.9%
QQQA
74.4%

Industrials

PDP
25.3%
QQQA

-

Healthcare

PDP
8.4%
QQQA
5.6%

Financial Services

PDP
6.0%
QQQA

-

Energy

PDP
4.9%
QQQA
5.9%

Basic Materials

PDP
4.7%
QQQA

-

Consumer Cyclical

PDP
2.5%
QQQA
3.1%

Consumer Defensive

PDP
1.3%
QQQA

-

Communication Services

PDP
1.1%
QQQA
11.0%

Real Estate

PDP
0.7%
QQQA

-

Utilities

PDP
0.5%
QQQA

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Dorsey Wright Momentum ETF

ProShares Nasdaq-100 Dorsey Wright Momentum ETF

Often compared with PDP:
PDP vs. MTUMPDP vs. QQQPDP vs. SPYPDP vs. MMTMPDP vs. VOOPDP vs. BBUSPDP vs. RSP
Often compared with QQQA:
QQQA vs. QQQQQQA vs. QQQMQQQA vs. JEPQQQQA vs. SPMOQQQA vs. MOATQQQA vs. JEPIQQQA vs. SPY

Return for Risk

PDP vs. QQQA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PDP
PDP Risk / Return Rank: 3131
Overall Rank
PDP Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
PDP Sortino Ratio Rank: 2929
Sortino Ratio Rank
PDP Omega Ratio Rank: 2929
Omega Ratio Rank
PDP Calmar Ratio Rank: 3131
Calmar Ratio Rank
PDP Martin Ratio Rank: 3838
Martin Ratio Rank
QQQA
QQQA Risk / Return Rank: 7373
Overall Rank
QQQA Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
QQQA Sortino Ratio Rank: 6868
Sortino Ratio Rank
QQQA Omega Ratio Rank: 7272
Omega Ratio Rank
QQQA Calmar Ratio Rank: 7575
Calmar Ratio Rank
QQQA Martin Ratio Rank: 7474
Martin Ratio Rank
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.

PDP vs. QQQA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Momentum ETF (PDP) and ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA). 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.

PDPQQQADifference
Sharpe ratioReturn per unit of total volatility
0.70
1.74

-1.04

Sortino ratioReturn per unit of downside risk
1.10
2.21

-1.11

Omega ratioGain probability vs. loss probability

1.14

1.30

-0.16

Calmar ratioReturn relative to maximum drawdown

1.03

2.61

-1.58

Martin ratioReturn relative to average drawdown

4.02

9.11

-5.09

PDP vs. QQQA - Sharpe Ratio Comparison

The current PDP Sharpe Ratio is 0.70, which is lower than the QQQA Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of PDP and QQQA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PDP vs. QQQA - Drawdown Comparison

The maximum PDP drawdown since its inception was -59.34%, which is greater than QQQA's maximum drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for PDP and QQQA.

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Drawdown Indicators

PDPQQQADifference

Max Drawdown

Largest peak-to-trough decline

-59.34%

-38.44%

-20.90%

Max Drawdown (1Y)

Largest decline over 1 year

-17.58%

-22.41%

+4.83%

Max Drawdown (3Y)

Largest decline over 3 years

-23.79%

-30.84%

+7.05%

Max Drawdown (5Y)

Largest decline over 5 years

-33.91%

-38.44%

+4.53%

Max Drawdown (10Y)

Largest decline over 10 years

-34.70%

—

—

Current Drawdown

Current decline from peak

-12.80%

-18.50%

+5.70%

Average Drawdown

Average peak-to-trough decline

-10.57%

-15.52%

+4.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.51%

6.41%

-1.90%

Volatility

PDP vs. QQQA - Volatility Comparison

The current volatility for Invesco Dorsey Wright Momentum ETF (PDP) is 11.41%, while ProShares Nasdaq-100 Dorsey Wright Momentum ETF (QQQA) has a volatility of 12.31%. This indicates that PDP experiences smaller price fluctuations and is considered to be less risky than QQQA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PDPQQQADifference

Volatility (1M)

Calculated over the trailing 1-month period

11.41%

12.31%

-0.90%

Volatility (6M)

Calculated over the trailing 6-month period

21.23%

30.12%

-8.89%

Volatility (1Y)

Calculated over the trailing 1-year period

25.85%

33.64%

-7.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.80%

27.45%

-4.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.01%

27.08%

-5.07%

PDP vs. QQQA - Expense Ratio Comparison

PDP has a 0.62% expense ratio, which is higher than QQQA's 0.58% expense ratio.

Dividends

PDP vs. QQQA - Dividend Comparison

PDP's dividend yield for the trailing twelve months is around 0.08%, more than QQQA's 0.03% yield.

PositionTTM20252024202320222021202020192018201720162015
PDP
Invesco Dorsey Wright Momentum ETF		0.08%0.17%0.15%0.42%0.45%0.00%0.11%0.25%0.18%0.28%0.81%0.39%
QQQA
ProShares Nasdaq-100 Dorsey Wright Momentum ETF		0.03%0.10%0.09%0.34%0.28%0.10%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

PDP and QQQA have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQA has higher volatility (12.31%) compared to PDP (11.41%). In terms of maximum drawdown, PDP dropped -59.34% vs QQQA's -38.44%.

On 5-year performance, QQQA leads with 10.32% vs 8.11% for PDP. On fees, QQQA is cheaper at 0.58% per year. On volatility, PDP has been the lower-risk option at 11.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QQQA has performed better with a 10.32% return vs 8.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQA is cheaper with a 0.58% expense ratio, compared with 0.62% for PDP.

PDP has the higher dividend yield at 0.08%, compared with 0.03% for QQQA.

PDP is categorized as Momentum, while QQQA is Nasdaq-100. PDP tracks Dorsey Wright Technical Leaders Index, while QQQA tracks NASDAQ-100 Dorsey Wright Momentum Index - Benchmark TR Gross. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.62% for PDP and 0.58% for QQQA.

QQQA currently has the higher Sharpe Ratio (1.74 vs 0.70), 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.

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