QEW vs. PSI

Last updated Jul 17, 2026

QEW (Invesco QQQ Equal Weight ETF) and PSI (Invesco Semiconductors ETF) are both exchange-traded funds - QEW is a Nasdaq-100 fund tracking the Nasdaq-100 Equal Weighted Index, while PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. QEW charges 0.25%/yr vs 0.56%/yr for PSI.

Performance

QEW vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Equal Weight ETF (QEW) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QEW

• 1D: -0.34%
• 1M: -1.66%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSI

• 1D: -5.52%
• 1M: -12.90%
• 6M: 58.34%
• YTD: 84.16%
• 1Y: 137.01%
• 3Y*: 45.31%
• 5Y*: 30.19%
• 10Y*: 32.00%

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

QEW vs. PSI - Yearly Performance Comparison

	2026 (YTD)
QEW Invesco QQQ Equal Weight ETF	17.27%
PSI Invesco Semiconductors ETF	51.67%

Correlation

The correlation between QEW and PSI is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 18, 2026	0.76

Return for Risk

QEW vs. PSI — Risk / Return Rank

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

QEW

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

PSI

PSI Risk / Return Rank: 91
PSI Sharpe Ratio Rank: 95
PSI Sortino Ratio Rank: 85
PSI Omega Ratio Rank: 86
PSI Calmar Ratio Rank: 95
PSI Martin Ratio Rank: 95

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.

QEW vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Equal Weight ETF (QEW) and Invesco Semiconductors ETF (PSI). 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.

	QEW	PSI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.95	—
Sortino ratio: Return per unit of downside risk	—	3.07	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	6.08	—
Martin ratio: Return relative to average drawdown	—	23.79	—

Drawdowns

QEW vs. PSI - Drawdown Comparison

The maximum QEW drawdown since its inception was -5.87%, smaller than the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for QEW and PSI.

Drawdown Indicators

	QEW	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-5.87%	-62.96%	+57.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-22.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-41.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.85%	—
Current Drawdown Current decline from peak	-3.44%	-22.69%	+19.25%
Average Drawdown Average peak-to-trough decline	-1.32%	-15.90%	+14.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.78%	—

Volatility

Volatility by Period

	QEW	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	40.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.30%	46.71%	-27.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	39.83%	-20.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	36.11%	-16.81%

QEW vs. PSI - Expense Ratio Comparison

QEW has a 0.25% expense ratio, which is lower than PSI's 0.56% expense ratio.

Dividends

QEW vs. PSI - Dividend Comparison

QEW's dividend yield for the trailing twelve months is around 0.11%, more than PSI's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSI Invesco Semiconductors ETF	0.03%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%
QEW Invesco QQQ Equal Weight ETF	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QEW and PSI in my portfolio?

QEW and PSI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QEW or PSI?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QEW or PSI?

QEW is cheaper with a 0.25% expense ratio, compared with 0.56% for PSI.

Which ETF pays a higher dividend yield, QEW or PSI?

QEW has the higher dividend yield at 0.11%, compared with 0.03% for PSI.

What is the main difference between QEW and PSI?

QEW is categorized as Nasdaq-100, while PSI is Semiconductors. QEW tracks Nasdaq-100 Equal Weighted Index, while PSI tracks Dynamic Semiconductors Intellidex Index. Their fees differ too: 0.25% for QEW and 0.56% for PSI.