SAMM vs. PIE

Last updated Jun 4, 2026

SAMM (Strategas Macro Momentum ETF) and PIE (Invesco DWA Emerging Markets Momentum ETF) are both Momentum funds. SAMM is actively managed, while PIE is passively managed. Over the past year, SAMM returned 29.29% vs 70.48% for PIE. A 0.56 correlation means they provide meaningful diversification when combined. SAMM charges 0.66%/yr vs 0.90%/yr for PIE.

Performance

SAMM vs. PIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategas Macro Momentum ETF (SAMM) and Invesco DWA Emerging Markets Momentum ETF (PIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAMM achieves a 11.69% return, which is significantly lower than PIE's 39.11% return.

SAMM

• 1D: -1.23%
• 1M: 7.55%
• YTD: 11.69%
• 6M: 12.00%
• 1Y: 29.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIE

• 1D: -0.95%
• 1M: 5.39%
• YTD: 39.11%
• 6M: 38.18%
• 1Y: 70.48%
• 3Y*: 23.39%
• 5Y*: 7.01%
• 10Y*: 10.15%

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

SAMM vs. PIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SAMM Strategas Macro Momentum ETF	11.69%	12.01%	10.47%
PIE Invesco DWA Emerging Markets Momentum ETF	39.11%	25.98%	-6.97%

Correlation

The correlation between SAMM and PIE is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024	0.56

The correlation between SAMM and PIE has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.

SAMM vs. PIE - Sectors Allocation Comparison

Sectors	SAMM	PIE
Industrials	27.1%	16.8%
Basic Materials	15.0%	3.2%
Healthcare	14.2%	5.1%
Technology	14.0%	47.0%
Energy	10.4%	5.4%
Consumer Cyclical	7.3%	1.3%
Financial Services	5.2%	14.4%
Utilities	4.0%	1.3%
Communication Services	3.8%	1.4%
Consumer Defensive	2.8%	0.4%
Real Estate	-	3.6%

Return for Risk

SAMM vs. PIE — Risk / Return Rank

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

SAMM

SAMM Risk / Return Rank: 58
SAMM Sharpe Ratio Rank: 51
SAMM Sortino Ratio Rank: 50
SAMM Omega Ratio Rank: 49
SAMM Calmar Ratio Rank: 71
SAMM Martin Ratio Rank: 68

PIE

PIE Risk / Return Rank: 90
PIE Sharpe Ratio Rank: 91
PIE Sortino Ratio Rank: 85
PIE Omega Ratio Rank: 88
PIE Calmar Ratio Rank: 94
PIE Martin Ratio Rank: 92

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.

SAMM vs. PIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategas Macro Momentum ETF (SAMM) and Invesco DWA Emerging Markets Momentum ETF (PIE). 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.

	SAMM	PIE	Difference
Sharpe ratio: Return per unit of total volatility	1.72	3.24	-1.52
Sortino ratio: Return per unit of downside risk	2.38	3.88	-1.50
Omega ratio: Gain probability vs. loss probability	1.30	1.55	-0.25
Calmar ratio: Return relative to maximum drawdown	3.49	7.18	-3.69
Martin ratio: Return relative to average drawdown	12.39	23.52	-11.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAMM vs. PIE - Sharpe Ratio Comparison

The current SAMM Sharpe Ratio is 1.72, which is lower than the PIE Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of SAMM and PIE, 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

	SAMM	PIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	3.24	-1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.12	+0.74

Drawdowns

SAMM vs. PIE - Drawdown Comparison

The maximum SAMM drawdown since its inception was -24.09%, smaller than the maximum PIE drawdown of -72.98%. Use the drawdown chart below to compare losses from any high point for SAMM and PIE.

Drawdown Indicators

	SAMM	PIE	Difference
Max Drawdown Largest peak-to-trough decline	-24.09%	-72.98%	+48.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-9.87%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.32%	—
Current Drawdown Current decline from peak	-1.23%	-1.17%	-0.06%
Average Drawdown Average peak-to-trough decline	-4.36%	-26.08%	+21.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	3.01%	-0.64%

Volatility

SAMM vs. PIE - Volatility Comparison

The current volatility for Strategas Macro Momentum ETF (SAMM) is 6.74%, while Invesco DWA Emerging Markets Momentum ETF (PIE) has a volatility of 9.00%. This indicates that SAMM experiences smaller price fluctuations and is considered to be less risky than PIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAMM	PIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	9.00%	-2.26%
Volatility (6M) Calculated over the trailing 6-month period	12.74%	17.77%	-5.03%
Volatility (1Y) Calculated over the trailing 1-year period	17.09%	21.91%	-4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.83%	20.23%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	21.35%	-2.52%

SAMM vs. PIE - Expense Ratio Comparison

SAMM has a 0.66% expense ratio, which is lower than PIE's 0.90% expense ratio.

Dividends

SAMM vs. PIE - Dividend Comparison

SAMM's dividend yield for the trailing twelve months is around 0.92%, less than PIE's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIE Invesco DWA Emerging Markets Momentum ETF	1.70%	2.28%	2.33%	2.59%	3.45%	1.28%	1.32%	2.29%	3.32%	1.63%	1.48%	0.80%
SAMM Strategas Macro Momentum ETF	0.92%	1.03%	0.70%	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 SAMM and PIE in my portfolio?

SAMM and PIE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAMM or PIE?

PIE has higher volatility (9.00%) compared to SAMM (6.74%). In terms of maximum drawdown, SAMM dropped -24.09% vs PIE's -72.98%.

Which ETF is better, SAMM or PIE?

On 1-year performance, PIE leads with 70.48% vs 29.29% for SAMM. On fees, SAMM is cheaper at 0.66% per year. On volatility, SAMM has been the lower-risk option at 6.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SAMM or PIE?

Over the 1-year period, PIE has performed better with a 70.48% return vs 29.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SAMM or PIE?

SAMM is cheaper with a 0.66% expense ratio, compared with 0.90% for PIE.

Which ETF pays a higher dividend yield, SAMM or PIE?

PIE has the higher dividend yield at 1.70%, compared with 0.92% for SAMM.

What is the main difference between SAMM and PIE?

They also come from different issuers: Strategas and Invesco. Their fees differ too: 0.66% for SAMM and 0.90% for PIE.

Which has better risk-adjusted returns?

PIE currently has the higher Sharpe Ratio (3.24 vs 1.72), 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.