PXE vs. QQQM

Last updated Jun 4, 2026

PXE (Invesco Dynamic Energy Exploration & Production ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, PXE returned 18.55%/yr vs 18.07%/yr for QQQM. At a 0.18 correlation, their price movements are largely independent. PXE charges 0.63%/yr vs 0.15%/yr for QQQM.

Performance

PXE vs. QQQM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Energy Exploration & Production ETF (PXE) and Invesco NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXE achieves a 33.64% return, which is significantly higher than QQQM's 21.39% return.

PXE

• 1D: 1.36%
• 1M: -4.42%
• YTD: 33.64%
• 6M: 22.49%
• 1Y: 37.56%
• 3Y*: 15.66%
• 5Y*: 18.55%
• 10Y*: 8.62%

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

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

PXE vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PXE Invesco Dynamic Energy Exploration & Production ETF	33.64%	-2.82%	-1.86%	7.69%	58.32%	94.04%	30.73%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Correlation

The correlation between PXE and QQQM is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.18

The correlation between PXE and QQQM shifts across timeframes, from -0.15 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.

PXE vs. QQQM - Sectors Allocation Comparison

Sectors	PXE	QQQM
Energy	97.4%	0.6%
Basic Materials	2.6%	1.1%
Financial Services	0.3%	0.2%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

PXE vs. QQQM — Risk / Return Rank

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

PXE

PXE Risk / Return Rank: 40
PXE Sharpe Ratio Rank: 38
PXE Sortino Ratio Rank: 35
PXE Omega Ratio Rank: 33
PXE Calmar Ratio Rank: 55
PXE Martin Ratio Rank: 41

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM 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.

PXE vs. QQQM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) 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.

	PXE	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.65	-1.28
Sortino ratio: Return per unit of downside risk	1.86	3.46	-1.60
Omega ratio: Gain probability vs. loss probability	1.23	1.45	-0.23
Calmar ratio: Return relative to maximum drawdown	2.72	3.53	-0.81
Martin ratio: Return relative to average drawdown	6.58	13.52	-6.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXE vs. QQQM - Sharpe Ratio Comparison

The current PXE Sharpe Ratio is 1.37, which is lower than the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of PXE 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.

Sharpe Ratios by Period

	PXE	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.65	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.82	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.85	-0.67

Drawdowns

PXE vs. QQQM - Drawdown Comparison

The maximum PXE drawdown since its inception was -83.99%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for PXE and QQQM.

Drawdown Indicators

	PXE	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-83.99%	-35.04%	-48.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-11.96%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	-37.65%	-22.70%	-14.95%
Max Drawdown (5Y) Largest decline over 5 years	-37.65%	-35.04%	-2.61%
Max Drawdown (10Y) Largest decline over 10 years	-80.17%	—	—
Current Drawdown Current decline from peak	-7.57%	-0.20%	-7.37%
Average Drawdown Average peak-to-trough decline	-27.99%	-8.25%	-19.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	3.11%	+2.62%

Volatility

PXE vs. QQQM - Volatility Comparison

Invesco Dynamic Energy Exploration & Production ETF (PXE) has a higher volatility of 9.57% compared to Invesco NASDAQ 100 ETF (QQQM) at 4.48%. This indicates that PXE's price experiences larger fluctuations and is considered to be riskier than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXE	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.57%	4.48%	+5.09%
Volatility (6M) Calculated over the trailing 6-month period	20.76%	12.05%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	27.48%	15.91%	+11.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.66%	22.24%	+11.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.99%	22.12%	+14.87%

PXE vs. QQQM - Expense Ratio Comparison

PXE has a 0.63% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

PXE vs. QQQM - Dividend Comparison

PXE's dividend yield for the trailing twelve months is around 1.99%, more than QQQM's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXE Invesco Dynamic Energy Exploration & Production ETF	1.99%	2.98%	2.54%	2.78%	3.03%	1.86%	4.10%	1.70%	1.29%	1.54%	6.62%	2.58%
QQQM Invesco NASDAQ 100 ETF	0.41%	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

Can I hold both PXE and QQQM in my portfolio?

PXE and QQQM have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXE or QQQM?

PXE has higher volatility (9.57%) compared to QQQM (4.48%). In terms of maximum drawdown, PXE dropped -83.99% vs QQQM's -35.04%.

Which ETF is better, PXE or QQQM?

On 5-year performance, PXE leads with 18.55% vs 18.07% for QQQM. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXE or QQQM?

Over the 5-year period, PXE has performed better with a 18.55% return vs 18.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXE or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.63% for PXE.

Which ETF pays a higher dividend yield, PXE or QQQM?

PXE has the higher dividend yield at 1.99%, compared with 0.41% for QQQM.

What is the main difference between PXE and QQQM?

PXE is categorized as Energy Equities, while QQQM is Nasdaq-100. PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while QQQM tracks NASDAQ-100 Index. Their fees differ too: 0.63% for PXE and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 1.37), 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.