PNQI vs. SPIT

Last updated Jul 17, 2026

PNQI (Invesco NASDAQ Internet ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. PNQI is passively managed, while SPIT is actively managed. At a 0.44 correlation, their price movements are largely independent. PNQI charges 0.62%/yr vs 0.89%/yr for SPIT.

Performance

PNQI vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Internet ETF (PNQI) and F/m Emerald Special Situations ETF (SPIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PNQI achieves a -8.93% return, which is significantly lower than SPIT's 25.12% return.

PNQI

• 1D: -0.10%
• 1M: 4.84%
• 6M: -6.83%
• YTD: -8.93%
• 1Y: -5.40%
• 3Y*: 14.03%
• 5Y*: -0.36%
• 10Y*: 11.84%

SPIT

• 1D: -1.56%
• 1M: -1.75%
• 6M: 14.70%
• YTD: 25.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PNQI vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
PNQI Invesco NASDAQ Internet ETF	-8.93%	-3.22%
SPIT F/m Emerald Special Situations ETF	25.12%	5.31%

Correlation

The correlation between PNQI and SPIT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.44

Return for Risk

PNQI vs. SPIT — Risk / Return Rank

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

PNQI

PNQI Risk / Return Rank: 7
PNQI Sharpe Ratio Rank: 7
PNQI Sortino Ratio Rank: 7
PNQI Omega Ratio Rank: 7
PNQI Calmar Ratio Rank: 7
PNQI Martin Ratio Rank: 7

SPIT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) and F/m Emerald Special Situations ETF (SPIT). 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	SPIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	—	—
Sortino ratio: Return per unit of downside risk	-0.25	—	—
Omega ratio: Gain probability vs. loss probability	0.97	—	—
Calmar ratio: Return relative to maximum drawdown	-0.22	—	—
Martin ratio: Return relative to average drawdown	-0.44	—	—

Drawdowns

PNQI vs. SPIT - Drawdown Comparison

The maximum PNQI drawdown since its inception was -59.70%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for PNQI and SPIT.

Drawdown Indicators

	PNQI	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-59.70%	-12.49%	-47.21%
Max Drawdown (1Y) Largest decline over 1 year	-24.85%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.70%	—	—
Current Drawdown Current decline from peak	-13.93%	-7.05%	-6.88%
Average Drawdown Average peak-to-trough decline	-12.99%	-2.56%	-10.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.22%	—	—

Volatility

Volatility by Period

	PNQI	SPIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.43%	26.27%	-6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.00%	26.27%	+0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.32%	26.27%	-0.95%

PNQI vs. SPIT - Expense Ratio Comparison

PNQI has a 0.62% expense ratio, which is lower than SPIT's 0.89% expense ratio.

Dividends

PNQI vs. SPIT - Dividend Comparison

PNQI has not paid dividends to shareholders, while SPIT's dividend yield for the trailing twelve months is around 5.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SPIT F/m Emerald Special Situations ETF	5.74%	7.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PNQI and SPIT in my portfolio?

PNQI and SPIT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PNQI or SPIT?

On fees, PNQI is cheaper at 0.62% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PNQI or SPIT?

PNQI is cheaper with a 0.62% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.74%, compared with 0.00% for PNQI.

What is the main difference between PNQI and SPIT?

They also come from different issuers: Invesco and F/m Investments. Their fees differ too: 0.62% for PNQI and 0.89% for SPIT.