PEQIX vs. QQQ

Last updated Jun 23, 2026

PEQIX (Pioneer Equity Income Fund) and QQQ (Invesco QQQ ETF) are both funds - PEQIX is a Large Cap Value Equities fund managed by Amundi, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, PEQIX returned 9.19%/yr vs 22.48%/yr for QQQ. A 0.66 correlation means they provide meaningful diversification when combined. PEQIX charges 1.02%/yr vs 0.18%/yr for QQQ.

Performance

PEQIX vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pioneer Equity Income Fund (PEQIX) 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, PEQIX achieves a 8.67% return, which is significantly lower than QQQ's 20.41% return. Over the past 10 years, PEQIX has underperformed QQQ with an annualized return of 9.19%, while QQQ has yielded a comparatively higher 22.48% annualized return.

PEQIX

• 1D: -0.41%
• 1M: -0.63%
• YTD: 8.67%
• 6M: 8.09%
• 1Y: 18.54%
• 3Y*: 11.90%
• 5Y*: 8.11%
• 10Y*: 9.19%

QQQ

• 1D: -0.25%
• 1M: 2.96%
• YTD: 20.41%
• 6M: 19.46%
• 1Y: 40.91%
• 3Y*: 27.47%
• 5Y*: 16.94%
• 10Y*: 22.48%

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

PEQIX vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEQIX Pioneer Equity Income Fund	8.67%	11.30%	11.18%	6.84%	-8.08%	25.28%	-0.20%	25.46%	-8.93%	15.00%
QQQ Invesco QQQ ETF	20.41%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between PEQIX and QQQ is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Mar 10, 1999	0.66

Over the past year, the correlation between PEQIX and QQQ has dropped to 0.33 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

PEQIX vs. QQQ — Risk / Return Rank

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

PEQIX

PEQIX Risk / Return Rank: 38
PEQIX Sharpe Ratio Rank: 38
PEQIX Sortino Ratio Rank: 37
PEQIX Omega Ratio Rank: 35
PEQIX Calmar Ratio Rank: 43
PEQIX Martin Ratio Rank: 36

QQQ

QQQ Risk / Return Rank: 72
QQQ Sharpe Ratio Rank: 76
QQQ Sortino Ratio Rank: 70
QQQ Omega Ratio Rank: 72
QQQ Calmar Ratio Rank: 70
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.

PEQIX vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pioneer Equity Income Fund (PEQIX) 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.

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.

	PEQIX	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.33	-0.66
Sortino ratio: Return per unit of downside risk	2.38	3.03	-0.65
Omega ratio: Gain probability vs. loss probability	1.29	1.41	-0.12
Calmar ratio: Return relative to maximum drawdown	2.39	3.44	-1.04
Martin ratio: Return relative to average drawdown	7.59	12.79	-5.19

PEQIX vs. QQQ - Sharpe Ratio Comparison

The current PEQIX Sharpe Ratio is 1.67, which is comparable to the QQQ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of PEQIX 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.

Drawdowns

PEQIX vs. QQQ - Drawdown Comparison

The maximum PEQIX drawdown since its inception was -54.08%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for PEQIX and QQQ.

Drawdown Indicators

	PEQIX	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-54.08%	-82.97%	+28.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-11.96%	+3.95%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	-22.77%	+5.93%
Max Drawdown (5Y) Largest decline over 5 years	-20.24%	-35.12%	+14.88%
Max Drawdown (10Y) Largest decline over 10 years	-37.93%	-35.12%	-2.81%
Current Drawdown Current decline from peak	-2.24%	-0.99%	-1.25%
Average Drawdown Average peak-to-trough decline	-6.57%	-32.73%	+26.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	3.21%	-0.69%

Volatility

PEQIX vs. QQQ - Volatility Comparison

The current volatility for Pioneer Equity Income Fund (PEQIX) is 3.46%, while Invesco QQQ ETF (QQQ) has a volatility of 8.47%. This indicates that PEQIX 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

	PEQIX	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	8.47%	-5.01%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	14.20%	-5.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	17.67%	-6.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	22.64%	-7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.19%	22.43%	-5.24%

PEQIX vs. QQQ - Expense Ratio Comparison

PEQIX has a 1.02% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

PEQIX vs. QQQ - Dividend Comparison

PEQIX's dividend yield for the trailing twelve months is around 8.41%, more than QQQ's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEQIX Pioneer Equity Income Fund	8.41%	9.08%	40.97%	17.42%	12.72%	9.34%	1.59%	4.00%	7.75%	5.31%	13.11%	10.13%
QQQ Invesco QQQ ETF	0.49%	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 PEQIX and QQQ in my portfolio?

PEQIX and QQQ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEQIX or QQQ?

QQQ has higher volatility (8.47%) compared to PEQIX (3.46%). In terms of maximum drawdown, PEQIX dropped -54.08% vs QQQ's -82.97%.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.33 vs 1.67), 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.