QQQM vs. PXE

Last updated Jun 13, 2026

QQQM (Invesco NASDAQ 100 ETF) and PXE (Invesco Dynamic Energy Exploration & Production ETF) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index. Both are passively managed. Over the past 5 years, QQQM returned 16.94%/yr vs 17.47%/yr for PXE. At a 0.18 correlation, their price movements are largely independent. QQQM charges 0.15%/yr vs 0.63%/yr for PXE.

Performance

QQQM vs. PXE - Performance Comparison

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

Returns By Period

In the year-to-date period, QQQM achieves a 17.59% return, which is significantly lower than PXE's 29.40% return.

QQQM

• 1D: 0.67%
• 1M: 0.22%
• YTD: 17.59%
• 6M: 17.91%
• 1Y: 37.64%
• 3Y*: 26.52%
• 5Y*: 16.94%
• 10Y*: —

PXE

• 1D: 1.23%
• 1M: -1.79%
• YTD: 29.40%
• 6M: 22.73%
• 1Y: 23.42%
• 3Y*: 13.09%
• 5Y*: 17.47%
• 10Y*: 8.67%

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

QQQM vs. PXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	17.59%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
PXE Invesco Dynamic Energy Exploration & Production ETF	29.40%	-2.82%	-1.86%	7.69%	58.32%	94.04%	27.81%

Correlation

The correlation between QQQM and PXE is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.18

The correlation between QQQM and PXE shifts across timeframes, from -0.14 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.

QQQM vs. PXE - Sectors Allocation Comparison

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

Return for Risk

QQQM vs. PXE — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 72
QQQM Sharpe Ratio Rank: 76
QQQM Sortino Ratio Rank: 71
QQQM Omega Ratio Rank: 73
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 70

PXE

PXE Risk / Return Rank: 33
PXE Sharpe Ratio Rank: 30
PXE Sortino Ratio Rank: 29
PXE Omega Ratio Rank: 27
PXE Calmar Ratio Rank: 44
PXE Martin Ratio Rank: 34

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.

QQQM vs. PXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) and Invesco Dynamic Energy Exploration & Production ETF (PXE). 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.

	QQQM	PXE	Difference
Sharpe ratio: Return per unit of total volatility	2.11	0.97	+1.14
Sortino ratio: Return per unit of downside risk	2.74	1.40	+1.34
Omega ratio: Gain probability vs. loss probability	1.37	1.17	+0.20
Calmar ratio: Return relative to maximum drawdown	3.02	1.93	+1.09
Martin ratio: Return relative to average drawdown	11.23	4.49	+6.74

QQQM vs. PXE - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.11, which is higher than the PXE Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of QQQM and PXE, 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

QQQM vs. PXE - Drawdown Comparison

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

Drawdown Indicators

	QQQM	PXE	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-83.99%	+48.95%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-13.89%	+1.93%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-37.65%	+14.95%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-37.65%	+2.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-80.17%	—
Current Drawdown Current decline from peak	-3.33%	-10.49%	+7.16%
Average Drawdown Average peak-to-trough decline	-8.23%	-27.96%	+19.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	5.96%	-2.75%

Volatility

QQQM vs. PXE - Volatility Comparison

The current volatility for Invesco NASDAQ 100 ETF (QQQM) is 7.45%, while Invesco Dynamic Energy Exploration & Production ETF (PXE) has a volatility of 8.96%. This indicates that QQQM experiences smaller price fluctuations and is considered to be less risky than PXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQM	PXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.45%	8.96%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	13.71%	21.32%	-7.61%
Volatility (1Y) Calculated over the trailing 1-year period	17.11%	27.70%	-10.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.40%	33.73%	-11.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.22%	36.99%	-14.77%

QQQM vs. PXE - Expense Ratio Comparison

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

Dividends

QQQM vs. PXE - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.43%, less than PXE's 2.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXE Invesco Dynamic Energy Exploration & Production ETF	2.06%	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	0.43%	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 QQQM and PXE in my portfolio?

QQQM and PXE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQM or PXE?

PXE has higher volatility (8.96%) compared to QQQM (7.45%). In terms of maximum drawdown, QQQM dropped -35.04% vs PXE's -83.99%.

Which ETF is better, QQQM or PXE?

On 5-year performance, PXE leads with 17.47% vs 16.94% for QQQM. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 7.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or PXE?

Over the 5-year period, PXE has performed better with a 17.47% return vs 16.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or PXE?

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

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

PXE has the higher dividend yield at 2.06%, compared with 0.43% for QQQM.

What is the main difference between QQQM and PXE?

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

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.11 vs 0.97), 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.