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PFI vs. QQQM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PFI vs. QQQM

Last updated Jun 24, 2026

PFI (Invesco Dorsey Wright Financial Momentum ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - PFI is a Momentum fund tracking the Dorsey Wright Financials Technical Leaders Index, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, PFI returned 5.43%/yr vs 16.11%/yr for QQQM. A 0.60 correlation means they provide meaningful diversification when combined. PFI charges 0.60%/yr vs 0.15%/yr for QQQM.

Performance

PFI vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dorsey Wright Financial Momentum ETF (PFI) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PFI achieves a 7.04% return, which is significantly lower than QQQM's 16.48% return.

PFI

1D
0.56%
1M
4.63%
YTD
7.04%
6M
4.43%
1Y
12.22%
3Y*
16.97%
5Y*
5.43%
10Y*
9.22%

QQQM

1D
-3.30%
1M
-0.42%
YTD
16.48%
6M
15.00%
1Y
34.99%
3Y*
26.15%
5Y*
16.11%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

PFI vs. QQQM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
PFI
Invesco Dorsey Wright Financial Momentum ETF		7.04%1.98%30.58%12.58%-24.09%28.70%9.30%
QQQM
Invesco NASDAQ 100 ETF		16.48%20.85%25.68%55.01%-32.52%27.45%6.64%

Correlation

The correlation between PFI and QQQM is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Oct 13, 2020

0.60

The correlation between PFI and QQQM has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

PFI vs. QQQM - Sectors Allocation Comparison

Sectors
PFI
QQQM

Financial Services

81.2%
0.2%

Real Estate

18.8%
0.1%

Basic Materials

-

1.0%

Communication Services

-

14.3%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Healthcare

-

3.7%

Industrials

-

2.6%

Technology

-

58.7%

Utilities

-

1.2%

Financial Services

PFI
81.2%
QQQM
0.2%

Real Estate

PFI
18.8%
QQQM
0.1%

Basic Materials

PFI

-

QQQM
1.0%

Communication Services

PFI

-

QQQM
14.3%

Consumer Cyclical

PFI

-

QQQM
11.4%

Consumer Defensive

PFI

-

QQQM
6.4%

Energy

PFI

-

QQQM
0.5%

Healthcare

PFI

-

QQQM
3.7%

Industrials

PFI

-

QQQM
2.6%

Technology

PFI

-

QQQM
58.7%

Utilities

PFI

-

QQQM
1.2%

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 Financial Momentum ETF

Invesco NASDAQ 100 ETF

Often compared with PFI:
PFI vs. MBOXPFI vs. VFHPFI vs. KOPFI vs. KMBPFI vs. SMLVPFI vs. VOOPFI vs. FDGRX
Often compared with QQQM:
QQQM vs. QQQQQQM vs. SCHGQQQM vs. VOOQQQM vs. VGTQQQM vs. SCHDQQQM vs. FTECQQQM vs. JEPQ

Return for Risk

PFI vs. QQQM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PFI
PFI Risk / Return Rank: 2020
Overall Rank
PFI Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
PFI Sortino Ratio Rank: 1919
Sortino Ratio Rank
PFI Omega Ratio Rank: 1919
Omega Ratio Rank
PFI Calmar Ratio Rank: 2020
Calmar Ratio Rank
PFI Martin Ratio Rank: 2222
Martin Ratio Rank
QQQM
QQQM Risk / Return Rank: 6060
Overall Rank
QQQM Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
QQQM Sortino Ratio Rank: 5656
Sortino Ratio Rank
QQQM Omega Ratio Rank: 5959
Omega Ratio Rank
QQQM Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQM Martin Ratio Rank: 6262
Martin Ratio Rank
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.

PFI vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Financial Momentum ETF (PFI) 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.

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.

PFIQQQMDifference
Sharpe ratioReturn per unit of total volatility
0.66
1.97

-1.32

Sortino ratioReturn per unit of downside risk
0.99
2.58

-1.59

Omega ratioGain probability vs. loss probability

1.12

1.35

-0.23

Calmar ratioReturn relative to maximum drawdown

0.89

2.94

-2.05

Martin ratioReturn relative to average drawdown

2.65

10.88

-8.23

PFI vs. QQQM - Sharpe Ratio Comparison

The current PFI Sharpe Ratio is 0.66, which is lower than the QQQM Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of PFI 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.

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Drawdowns

PFI vs. QQQM - Drawdown Comparison

The maximum PFI drawdown since its inception was -59.53%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for PFI and QQQM.

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Drawdown Indicators

PFIQQQMDifference

Max Drawdown

Largest peak-to-trough decline

-59.53%

-35.04%

-24.49%

Max Drawdown (1Y)

Largest decline over 1 year

-13.86%

-11.96%

-1.90%

Max Drawdown (3Y)

Largest decline over 3 years

-24.82%

-22.70%

-2.12%

Max Drawdown (5Y)

Largest decline over 5 years

-35.43%

-35.04%

-0.39%

Max Drawdown (10Y)

Largest decline over 10 years

-43.09%

—

—

Current Drawdown

Current decline from peak

-1.04%

-4.24%

+3.20%

Average Drawdown

Average peak-to-trough decline

-14.47%

-8.20%

-6.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.62%

3.22%

+1.40%

Volatility

PFI vs. QQQM - Volatility Comparison

The current volatility for Invesco Dorsey Wright Financial Momentum ETF (PFI) is 4.05%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 9.00%. This indicates that PFI experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PFIQQQMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.05%

9.00%

-4.95%

Volatility (6M)

Calculated over the trailing 6-month period

13.70%

14.43%

-0.73%

Volatility (1Y)

Calculated over the trailing 1-year period

18.77%

17.85%

+0.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.84%

22.53%

-0.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.26%

22.30%

-0.04%

PFI vs. QQQM - Expense Ratio Comparison

PFI has a 0.60% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

PFI vs. QQQM - Dividend Comparison

PFI's dividend yield for the trailing twelve months is around 1.00%, more than QQQM's 0.44% yield.

PositionTTM20252024202320222021202020192018201720162015
PFI
Invesco Dorsey Wright Financial Momentum ETF		1.00%0.68%2.77%1.85%1.93%1.28%1.56%0.92%1.98%0.35%2.16%1.44%
QQQM
Invesco NASDAQ 100 ETF		0.44%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

PFI and QQQM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQM has higher volatility (9.00%) compared to PFI (4.05%). In terms of maximum drawdown, PFI dropped -59.53% vs QQQM's -35.04%.

On 5-year performance, QQQM leads with 16.11% vs 5.43% for PFI. On fees, QQQM is cheaper at 0.15% per year. On volatility, PFI has been the lower-risk option at 4.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QQQM has performed better with a 16.11% return vs 5.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQM is cheaper with a 0.15% expense ratio, compared with 0.60% for PFI.

PFI has the higher dividend yield at 1.00%, compared with 0.44% for QQQM.

PFI is categorized as Momentum, while QQQM is Nasdaq-100. PFI tracks Dorsey Wright Financials Technical Leaders Index, while QQQM tracks NASDAQ-100 Index. Their fees differ too: 0.60% for PFI and 0.15% for QQQM.

QQQM currently has the higher Sharpe Ratio (1.97 vs 0.66), 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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