PNQI vs. ITOT

Last updated Jun 26, 2026

PNQI (Invesco NASDAQ Internet ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet Index, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Both are passively managed. Over the past 10 years, PNQI returned 11.73%/yr vs 15.35%/yr for ITOT. A 0.75 correlation means they provide meaningful diversification when combined. PNQI charges 0.62%/yr vs 0.03%/yr for ITOT.

Performance

PNQI vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Internet ETF (PNQI) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PNQI achieves a -18.59% return, which is significantly lower than ITOT's 8.95% return. Over the past 10 years, PNQI has underperformed ITOT with an annualized return of 11.73%, while ITOT has yielded a comparatively higher 15.35% annualized return.

PNQI

• 1D: -2.67%
• 1M: -8.54%
• YTD: -18.59%
• 6M: -19.34%
• 1Y: -13.81%
• 3Y*: 12.87%
• 5Y*: -3.03%
• 10Y*: 11.73%

ITOT

• 1D: 0.08%
• 1M: -1.51%
• YTD: 8.95%
• 6M: 7.49%
• 1Y: 22.95%
• 3Y*: 20.80%
• 5Y*: 11.85%
• 10Y*: 15.35%

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

PNQI vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PNQI Invesco NASDAQ Internet ETF	-18.59%	15.56%	29.44%	60.69%	-47.92%	-5.57%	61.36%	28.76%	-5.08%	40.05%
ITOT iShares Core S&P Total U.S. Stock Market ETF	8.95%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-5.33%	21.37%

Correlation

The correlation between PNQI and ITOT is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 13, 2008	0.75

The correlation between PNQI and ITOT shifts across timeframes, from 0.71 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.

PNQI vs. ITOT - Sectors Allocation Comparison

Sectors	PNQI	ITOT
Technology	39.8%	37.2%
Communication Services	30.4%	9.8%
Consumer Cyclical	27.0%	9.8%
Financial Services	2.4%	11.4%
Real Estate	0.4%	2.3%
Industrials	0.1%	9.1%
Healthcare	0.0%	8.8%
Basic Materials	-	2.0%
Consumer Defensive	-	4.3%
Energy	-	3.3%
Utilities	-	2.1%

Return for Risk

PNQI vs. ITOT — Risk / Return Rank

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

PNQI

PNQI Risk / Return Rank: 4
PNQI Sharpe Ratio Rank: 4
PNQI Sortino Ratio Rank: 4
PNQI Omega Ratio Rank: 4
PNQI Calmar Ratio Rank: 5
PNQI Martin Ratio Rank: 4

ITOT

ITOT Risk / Return Rank: 64
ITOT Sharpe Ratio Rank: 63
ITOT Sortino Ratio Rank: 61
ITOT Omega Ratio Rank: 62
ITOT Calmar Ratio Rank: 61
ITOT 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.

PNQI vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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.

	PNQI	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	1.81	-2.54
Sortino ratio: Return per unit of downside risk	-0.91	2.47	-3.37
Omega ratio: Gain probability vs. loss probability	0.89	1.32	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.56	2.59	-3.15
Martin ratio: Return relative to average drawdown	-1.20	11.40	-12.59

PNQI vs. ITOT - Sharpe Ratio Comparison

The current PNQI Sharpe Ratio is -0.74, which is lower than the ITOT Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of PNQI and ITOT, 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

PNQI vs. ITOT - Drawdown Comparison

The maximum PNQI drawdown since its inception was -59.70%, which is greater than ITOT's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for PNQI and ITOT.

Drawdown Indicators

	PNQI	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-59.70%	-55.20%	-4.50%
Max Drawdown (1Y) Largest decline over 1 year	-24.85%	-8.90%	-15.95%
Max Drawdown (3Y) Largest decline over 3 years	-24.85%	-19.44%	-5.41%
Max Drawdown (5Y) Largest decline over 5 years	-59.56%	-25.36%	-34.20%
Max Drawdown (10Y) Largest decline over 10 years	-59.70%	-35.00%	-24.70%
Current Drawdown Current decline from peak	-23.06%	-2.78%	-20.28%
Average Drawdown Average peak-to-trough decline	-12.98%	-6.96%	-6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.55%	2.02%	+9.53%

Volatility

PNQI vs. ITOT - Volatility Comparison

Invesco NASDAQ Internet ETF (PNQI) has a higher volatility of 7.49% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 4.87%. This indicates that PNQI's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PNQI	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.49%	4.87%	+2.62%
Volatility (6M) Calculated over the trailing 6-month period	15.12%	10.00%	+5.12%
Volatility (1Y) Calculated over the trailing 1-year period	18.83%	12.77%	+6.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.93%	17.46%	+9.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.32%	18.27%	+7.05%

PNQI vs. ITOT - Expense Ratio Comparison

PNQI has a 0.62% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

PNQI vs. ITOT - Dividend Comparison

PNQI has not paid dividends to shareholders, while ITOT's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.02%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
PNQI Invesco NASDAQ Internet ETF	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PNQI and ITOT in my portfolio?

PNQI and ITOT have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PNQI or ITOT?

PNQI has higher volatility (7.49%) compared to ITOT (4.87%). In terms of maximum drawdown, PNQI dropped -59.70% vs ITOT's -55.20%.

Which ETF is better, PNQI or ITOT?

On 10-year performance, ITOT leads with 15.35% vs 11.73% for PNQI. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PNQI or ITOT?

Over the 10-year period, ITOT has performed better with a 15.35% return vs 11.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PNQI or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.62% for PNQI.

Which ETF pays a higher dividend yield, PNQI or ITOT?

ITOT has the higher dividend yield at 1.02%, compared with 0.00% for PNQI.

What is the main difference between PNQI and ITOT?

PNQI is categorized as Large Cap Growth Equities, while ITOT is Large Cap Blend Equities. PNQI tracks NASDAQ Internet Index, while ITOT tracks S&P Total Market Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.62% for PNQI and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (1.80 vs -0.74), 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.