PTF vs. QOWZ

Last updated Jun 24, 2026

PTF (Invesco Dorsey Wright Technology Momentum ETF) and QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) are both exchange-traded funds - PTF is a Momentum fund tracking the Dorsey Wright Technology Technical Leaders Index, while QOWZ is a Large Cap Growth Equities fund tracking the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross. Both are passively managed. Over the past year, PTF returned 96.10% vs -4.42% for QOWZ. A 0.70 correlation means they provide meaningful diversification when combined. PTF charges 0.60%/yr vs 0.39%/yr for QOWZ.

Performance

PTF vs. QOWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dorsey Wright Technology Momentum ETF (PTF) and Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTF achieves a 69.43% return, which is significantly higher than QOWZ's -8.29% return.

PTF

• 1D: -6.34%
• 1M: 5.02%
• YTD: 69.43%
• 6M: 64.22%
• 1Y: 96.10%
• 3Y*: 41.16%
• 5Y*: 21.25%
• 10Y*: 26.71%

QOWZ

• 1D: -0.86%
• 1M: -3.41%
• YTD: -8.29%
• 6M: -9.37%
• 1Y: -4.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PTF vs. QOWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PTF Invesco Dorsey Wright Technology Momentum ETF	69.43%	5.68%	43.65%	4.58%
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	-8.29%	7.24%	33.16%	5.69%

Correlation

The correlation between PTF and QOWZ is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.70

The correlation between PTF and QOWZ shifts across timeframes, from 0.52 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

PTF vs. QOWZ - Sectors Allocation Comparison

Sectors	PTF	QOWZ
Technology	93.8%	60.1%
Communication Services	4.7%	8.3%
Industrials	1.8%	11.6%
Energy	1.6%	-
Financial Services	1.5%	4.8%
Basic Materials	-	-
Consumer Cyclical	-	3.6%
Consumer Defensive	-	1.9%
Healthcare	-	9.8%
Real Estate	-	-
Utilities	-	-

Return for Risk

PTF vs. QOWZ — Risk / Return Rank

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

PTF

PTF Risk / Return Rank: 76
PTF Sharpe Ratio Rank: 77
PTF Sortino Ratio Rank: 59
PTF Omega Ratio Rank: 64
PTF Calmar Ratio Rank: 90
PTF Martin Ratio Rank: 91

QOWZ

QOWZ Risk / Return Rank: 6
QOWZ Sharpe Ratio Rank: 6
QOWZ Sortino Ratio Rank: 6
QOWZ Omega Ratio Rank: 6
QOWZ Calmar Ratio Rank: 7
QOWZ Martin Ratio Rank: 6

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.

PTF vs. QOWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dorsey Wright Technology Momentum ETF (PTF) and Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ). 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.

	PTF	QOWZ	Difference
Sharpe ratio: Return per unit of total volatility	2.34	-0.28	+2.62
Sortino ratio: Return per unit of downside risk	2.67	-0.29	+2.96
Omega ratio: Gain probability vs. loss probability	1.37	0.97	+0.40
Calmar ratio: Return relative to maximum drawdown	5.37	-0.25	+5.62
Martin ratio: Return relative to average drawdown	20.37	-0.63	+21.00

PTF vs. QOWZ - Sharpe Ratio Comparison

The current PTF Sharpe Ratio is 2.34, which is higher than the QOWZ Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of PTF and QOWZ, 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

PTF vs. QOWZ - Drawdown Comparison

The maximum PTF drawdown since its inception was -55.38%, which is greater than QOWZ's maximum drawdown of -20.36%. Use the drawdown chart below to compare losses from any high point for PTF and QOWZ.

Drawdown Indicators

	PTF	QOWZ	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-20.36%	-35.02%
Max Drawdown (1Y) Largest decline over 1 year	-17.99%	-17.81%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-36.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.88%	—	—
Current Drawdown Current decline from peak	-6.34%	-11.78%	+5.44%
Average Drawdown Average peak-to-trough decline	-13.25%	-4.09%	-9.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.73%	7.03%	-2.30%

Volatility

PTF vs. QOWZ - Volatility Comparison

Invesco Dorsey Wright Technology Momentum ETF (PTF) has a higher volatility of 17.66% compared to Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) at 6.26%. This indicates that PTF's price experiences larger fluctuations and is considered to be riskier than QOWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTF	QOWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.66%	6.26%	+11.40%
Volatility (6M) Calculated over the trailing 6-month period	32.05%	12.54%	+19.51%
Volatility (1Y) Calculated over the trailing 1-year period	41.37%	15.64%	+25.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.58%	19.30%	+16.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.29%	19.30%	+13.99%

PTF vs. QOWZ - Expense Ratio Comparison

PTF has a 0.60% expense ratio, which is higher than QOWZ's 0.39% expense ratio.

Dividends

PTF vs. QOWZ - Dividend Comparison

PTF's dividend yield for the trailing twelve months is around 0.01%, less than QOWZ's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PTF Invesco Dorsey Wright Technology Momentum ETF	0.01%	0.21%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%	0.08%	0.04%	0.26%
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	0.27%	0.28%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PTF and QOWZ in my portfolio?

PTF and QOWZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTF or QOWZ?

PTF has higher volatility (17.66%) compared to QOWZ (6.26%). In terms of maximum drawdown, PTF dropped -55.38% vs QOWZ's -20.36%.

Which ETF is better, PTF or QOWZ?

On 1-year performance, PTF leads with 96.10% vs -4.42% for QOWZ. On fees, QOWZ is cheaper at 0.39% per year. On volatility, QOWZ has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTF or QOWZ?

Over the 1-year period, PTF has performed better with a 96.10% return vs -4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTF or QOWZ?

QOWZ is cheaper with a 0.39% expense ratio, compared with 0.60% for PTF.

Which ETF pays a higher dividend yield, PTF or QOWZ?

QOWZ has the higher dividend yield at 0.27%, compared with 0.01% for PTF.

What is the main difference between PTF and QOWZ?

PTF is categorized as Momentum, while QOWZ is Large Cap Growth Equities. PTF tracks Dorsey Wright Technology Technical Leaders Index, while QOWZ tracks Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross. Their fees differ too: 0.60% for PTF and 0.39% for QOWZ.

Which has better risk-adjusted returns?

PTF currently has the higher Sharpe Ratio (2.34 vs -0.28), 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.