PSP vs. QQQ

Last updated Aug 2, 2026

PSP (Invesco Global Listed Private Equity ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, PSP returned 8.10%/yr vs 20.44%/yr for QQQ. Their 0.70 correlation means they have sometimes moved together and sometimes differently. PSP charges 1.44%/yr vs 0.18%/yr for QQQ.

Performance

PSP vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Listed Private Equity ETF (PSP) 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, PSP achieves a -9.07% return, which is significantly lower than QQQ's 12.26% return. Over the past 10 years, PSP has underperformed QQQ with an annualized return of 8.10%, while QQQ has yielded a comparatively higher 20.44% annualized return.

PSP

• 1D: -0.43%
• 1M: 4.54%
• 6M: -9.78%
• YTD: -9.07%
• 1Y: -8.31%
• 3Y*: 9.22%
• 5Y*: 0.04%
• 10Y*: 8.10%
• ALL TIME*: 2.48%

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)
PSP Invesco Global Listed Private Equity ETF	$1.20M	$1.24M	$2.68M
QQQ Invesco QQQ ETF	$30.32B	$28.40B	$31.45B

PSP vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSP Invesco Global Listed Private Equity ETF	-9.07%	6.49%	17.42%	37.72%	-37.37%	27.30%	12.47%	35.73%	-15.12%	24.13%
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 PSP 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.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.67
Correlation (All Time) Calculated using the full available price history since Oct 24, 2006	0.70

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

PSP vs. QQQ - Sectors Allocation Comparison

Sectors	PSP	QQQ
Financial Services	89.5%	0.2%
Industrials	6.9%	2.7%
Consumer Defensive	2.8%	6.3%
Communication Services	1.0%	13.1%
Healthcare	0.3%	3.6%
Consumer Cyclical	0.3%	10.7%
Basic Materials	0.1%	1.0%
Technology	0.1%	60.9%
Energy	-	0.5%
Real Estate	-	0.1%
Utilities	-	1.1%

Return for Risk

PSP vs. QQQ — Risk / Return Rank

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

PSP

PSP Risk / Return Rank: 5
PSP Sharpe Ratio Rank: 5
PSP Sortino Ratio Rank: 5
PSP Omega Ratio Rank: 5
PSP Calmar Ratio Rank: 6
PSP Martin Ratio Rank: 6

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.

PSP vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) 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.

	PSP	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	1.16	-1.63
Sortino ratio: Return per unit of downside risk	-0.52	1.65	-2.17
Omega ratio: Gain probability vs. loss probability	0.94	1.21	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.43	1.88	-2.30
Martin ratio: Return relative to average drawdown	-0.81	6.00	-6.81

PSP vs. QQQ - Sharpe Ratio Comparison

The current PSP Sharpe Ratio is -0.47, which is lower than the QQQ Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of PSP 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

PSP vs. QQQ - Drawdown Comparison

The maximum PSP drawdown since its inception was -85.40%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for PSP and QQQ.

Drawdown Indicators

	PSP	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-82.97%	-2.43%
Max Drawdown (1Y) Largest decline over 1 year	-22.27%	-11.96%	-10.31%
Max Drawdown (3Y) Largest decline over 3 years	-22.94%	-22.77%	-0.17%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-35.12%	-12.04%
Max Drawdown (10Y) Largest decline over 10 years	-47.16%	-35.12%	-12.04%
Current Drawdown Current decline from peak	-13.51%	-7.69%	-5.82%
Average Drawdown Average peak-to-trough decline	-30.58%	-32.62%	+2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.63%	3.74%	+7.89%

Volatility

PSP vs. QQQ - Volatility Comparison

The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 4.92%, while Invesco QQQ ETF (QQQ) has a volatility of 6.87%. This indicates that PSP 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

	PSP	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	6.87%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	16.69%	16.08%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	20.19%	19.38%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.88%	22.90%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	22.50%	-0.20%

PSP vs. QQQ - Expense Ratio Comparison

PSP has a 1.44% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

PSP vs. QQQ - Dividend Comparison

PSP's dividend yield for the trailing twelve months is around 5.99%, more than QQQ's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSP Invesco Global Listed Private Equity ETF	5.99%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%
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 PSP and QQQ in my portfolio?

PSP 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, PSP or QQQ?

QQQ has higher volatility (6.87%) compared to PSP (4.92%). In terms of maximum drawdown, PSP dropped -85.40% vs QQQ's -82.97%.

Which ETF is better, PSP or QQQ?

On 10-year performance, QQQ leads with 20.44% vs 8.10% for PSP. On fees, QQQ is cheaper at 0.18% per year. On volatility, PSP has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSP or QQQ?

Over the 10-year period, QQQ has performed better with a 20.44% return vs 8.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSP or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 1.44% for PSP.

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

PSP has the higher dividend yield at 5.99%, compared with 0.44% for QQQ.

What is the main difference between PSP and QQQ?

PSP is categorized as Global Equities, while QQQ is Nasdaq-100. PSP tracks Red Rocks Global Listed Private Equity Index, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 1.44% for PSP and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (1.16 vs -0.47), 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.