PEZ vs. QQQ

Last updated Aug 2, 2026

PEZ (Invesco DWA Consumer Cyclicals Momentum ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - PEZ is a Momentum fund tracking the DWA Consumer Cyclicals Technical Leaders Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, PEZ returned 9.57%/yr vs 20.44%/yr for QQQ. Their 0.70 correlation means they have sometimes moved together and sometimes differently. PEZ charges 0.60%/yr vs 0.18%/yr for QQQ.

Performance

PEZ vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) 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, PEZ achieves a -1.42% return, which is significantly lower than QQQ's 12.26% return. Over the past 10 years, PEZ has underperformed QQQ with an annualized return of 9.57%, while QQQ has yielded a comparatively higher 20.44% annualized return.

PEZ

• 1D: 0.17%
• 1M: 0.32%
• 6M: -0.38%
• YTD: -1.42%
• 1Y: 4.90%
• 3Y*: 11.93%
• 5Y*: 3.14%
• 10Y*: 9.57%
• ALL TIME*: 7.88%

QQQ

• 1D: 0.65%
• 1M: -3.45%
• 6M: 10.89%
• YTD: 12.26%
• 1Y: 24.81%
• 3Y*: 22.29%
• 5Y*: 14.23%
• 10Y*: 20.44%
• ALL TIME*: 10.64%

*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)
PEZ Invesco DWA Consumer Cyclicals Momentum ETF	$60.43K	$108.59K	$64.29K
QQQ Invesco QQQ ETF	$30.32B	$28.40B	$31.45B

PEZ vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEZ Invesco DWA Consumer Cyclicals Momentum ETF	-1.42%	5.40%	20.06%	29.55%	-29.59%	20.35%	38.97%	18.05%	-6.85%	19.87%
QQQ Invesco QQQ ETF	12.26%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between PEZ and QQQ is 0.56, 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.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (10Y) Provides a long-term view across more market conditions.	0.66
Correlation (All Time) Calculated using the full available price history since Oct 12, 2006	0.70

The correlation between PEZ and QQQ shifts across timeframes, from 0.56 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

PEZ vs. QQQ - Sectors Allocation Comparison

Sectors	PEZ	QQQ
Consumer Cyclical	70.1%	10.7%
Communication Services	11.7%	13.1%
Healthcare	7.3%	3.6%
Consumer Defensive	4.4%	6.3%
Technology	3.7%	60.9%
Real Estate	1.9%	0.1%
Industrials	1.0%	2.7%
Financial Services	0.6%	0.2%
Basic Materials	-	1.0%
Energy	-	0.5%
Utilities	-	1.1%

Return for Risk

PEZ vs. QQQ — Risk / Return Rank

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

PEZ

PEZ Risk / Return Rank: 14
PEZ Sharpe Ratio Rank: 14
PEZ Sortino Ratio Rank: 14
PEZ Omega Ratio Rank: 14
PEZ Calmar Ratio Rank: 14
PEZ Martin Ratio Rank: 14

QQQ

QQQ Risk / Return Rank: 49
QQQ Sharpe Ratio Rank: 47
QQQ Sortino Ratio Rank: 46
QQQ Omega Ratio Rank: 45
QQQ Calmar Ratio Rank: 53
QQQ Martin Ratio Rank: 52

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.

PEZ vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) 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.

	PEZ	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.15	1.16	-1.01
Sortino ratio: Return per unit of downside risk	0.37	1.65	-1.28
Omega ratio: Gain probability vs. loss probability	1.04	1.21	-0.16
Calmar ratio: Return relative to maximum drawdown	0.19	1.88	-1.68
Martin ratio: Return relative to average drawdown	0.46	6.00	-5.54

PEZ vs. QQQ - Sharpe Ratio Comparison

The current PEZ Sharpe Ratio is 0.15, which is lower than the QQQ Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of PEZ 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

PEZ vs. QQQ - Drawdown Comparison

The maximum PEZ drawdown since its inception was -58.39%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for PEZ and QQQ.

Drawdown Indicators

	PEZ	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.39%	-82.97%	+24.58%
Max Drawdown (1Y) Largest decline over 1 year	-15.83%	-11.96%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	-22.77%	-8.71%
Max Drawdown (5Y) Largest decline over 5 years	-41.72%	-35.12%	-6.60%
Max Drawdown (10Y) Largest decline over 10 years	-52.05%	-35.12%	-16.93%
Current Drawdown Current decline from peak	-8.64%	-7.69%	-0.95%
Average Drawdown Average peak-to-trough decline	-13.82%	-32.62%	+18.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.66%	3.74%	+2.92%

Volatility

PEZ vs. QQQ - Volatility Comparison

The current volatility for Invesco DWA Consumer Cyclicals Momentum ETF (PEZ) is 4.24%, while Invesco QQQ ETF (QQQ) has a volatility of 6.87%. This indicates that PEZ 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

	PEZ	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	6.87%	-2.63%
Volatility (6M) Calculated over the trailing 6-month period	14.72%	16.08%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	20.09%	19.38%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.14%	22.90%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.06%	22.50%	+2.56%

PEZ vs. QQQ - Expense Ratio Comparison

PEZ has a 0.60% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

PEZ vs. QQQ - Dividend Comparison

PEZ's dividend yield for the trailing twelve months is around 0.24%, less than QQQ's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEZ Invesco DWA Consumer Cyclicals Momentum ETF	0.24%	0.11%	0.12%	0.60%	0.43%	0.23%	0.39%	0.01%	0.40%	0.42%	0.83%	0.64%
QQQ Invesco QQQ ETF	0.44%	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 PEZ and QQQ in my portfolio?

PEZ and QQQ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEZ or QQQ?

QQQ has higher volatility (6.87%) compared to PEZ (4.24%). In terms of maximum drawdown, PEZ dropped -58.39% vs QQQ's -82.97%.

Which ETF is better, PEZ or QQQ?

On 10-year performance, QQQ leads with 20.44% vs 9.57% for PEZ. On fees, QQQ is cheaper at 0.18% per year. On volatility, PEZ has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PEZ or QQQ?

Over the 10-year period, QQQ has performed better with a 20.44% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PEZ or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.60% for PEZ.

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

QQQ has the higher dividend yield at 0.44%, compared with 0.24% for PEZ.

What is the main difference between PEZ and QQQ?

PEZ is categorized as Momentum, while QQQ is Nasdaq-100. PEZ tracks DWA Consumer Cyclicals Technical Leaders Index, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.60% for PEZ and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.16 vs 0.15), 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.