SEIM vs. PIE

Last updated Jun 4, 2026

SEIM (SEI Enhanced US Large Cap Momentum Factor ETF) and PIE (Invesco DWA Emerging Markets Momentum ETF) are both Momentum funds. SEIM is actively managed, while PIE is passively managed. Over the past 3 years, SEIM returned 29.67%/yr vs 23.39%/yr for PIE. A 0.54 correlation means they provide meaningful diversification when combined. SEIM charges 0.15%/yr vs 0.90%/yr for PIE.

Performance

SEIM vs. PIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Enhanced US Large Cap Momentum Factor ETF (SEIM) 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, SEIM achieves a 18.91% return, which is significantly lower than PIE's 39.11% return.

SEIM

• 1D: -0.33%
• 1M: 7.63%
• YTD: 18.91%
• 6M: 20.91%
• 1Y: 36.91%
• 3Y*: 29.67%
• 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)

SEIM vs. PIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SEIM SEI Enhanced US Large Cap Momentum Factor ETF	18.91%	20.20%	39.12%	16.25%	-2.39%
PIE Invesco DWA Emerging Markets Momentum ETF	39.11%	25.98%	-0.27%	13.71%	-11.35%

Correlation

The correlation between SEIM and PIE is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.54

The correlation between SEIM and PIE shifts across timeframes, from 0.51 (3 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.

SEIM vs. PIE - Sectors Allocation Comparison

Sectors	SEIM	PIE
Technology	29.5%	47.0%
Energy	11.8%	5.4%
Healthcare	9.5%	5.1%
Financial Services	8.1%	14.4%
Consumer Defensive	7.9%	0.4%
Consumer Cyclical	7.2%	1.3%
Real Estate	7.2%	3.6%
Industrials	6.8%	16.8%
Basic Materials	4.7%	3.2%
Communication Services	4.4%	1.4%
Utilities	2.4%	1.3%

Return for Risk

SEIM vs. PIE — Risk / Return Rank

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

SEIM

SEIM Risk / Return Rank: 70
SEIM Sharpe Ratio Rank: 68
SEIM Sortino Ratio Rank: 66
SEIM Omega Ratio Rank: 65
SEIM Calmar Ratio Rank: 73
SEIM Martin Ratio Rank: 81

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.

SEIM vs. PIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Enhanced US Large Cap Momentum Factor ETF (SEIM) 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.

	SEIM	PIE	Difference
Sharpe ratio: Return per unit of total volatility	2.28	3.24	-0.96
Sortino ratio: Return per unit of downside risk	3.08	3.88	-0.80
Omega ratio: Gain probability vs. loss probability	1.40	1.55	-0.16
Calmar ratio: Return relative to maximum drawdown	3.68	7.18	-3.49
Martin ratio: Return relative to average drawdown	16.18	23.52	-7.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEIM vs. PIE - Sharpe Ratio Comparison

The current SEIM Sharpe Ratio is 2.28, which is comparable to the PIE Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of SEIM 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

	SEIM	PIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	3.24	-0.96
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	1.19	0.12	+1.07

Drawdowns

SEIM vs. PIE - Drawdown Comparison

The maximum SEIM drawdown since its inception was -22.17%, smaller than the maximum PIE drawdown of -72.98%. Use the drawdown chart below to compare losses from any high point for SEIM and PIE.

Drawdown Indicators

	SEIM	PIE	Difference
Max Drawdown Largest peak-to-trough decline	-22.17%	-72.98%	+50.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-9.87%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-22.17%	-28.69%	+6.52%
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	-0.33%	-1.17%	+0.84%
Average Drawdown Average peak-to-trough decline	-3.98%	-26.08%	+22.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	3.01%	-0.72%

Volatility

SEIM vs. PIE - Volatility Comparison

The current volatility for SEI Enhanced US Large Cap Momentum Factor ETF (SEIM) is 4.68%, while Invesco DWA Emerging Markets Momentum ETF (PIE) has a volatility of 9.00%. This indicates that SEIM 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

	SEIM	PIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	9.00%	-4.32%
Volatility (6M) Calculated over the trailing 6-month period	13.33%	17.77%	-4.44%
Volatility (1Y) Calculated over the trailing 1-year period	16.28%	21.91%	-5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.86%	20.23%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.86%	21.35%	-2.49%

SEIM vs. PIE - Expense Ratio Comparison

SEIM has a 0.15% expense ratio, which is lower than PIE's 0.90% expense ratio.

Dividends

SEIM vs. PIE - Dividend Comparison

SEIM's dividend yield for the trailing twelve months is around 0.52%, 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%
SEIM SEI Enhanced US Large Cap Momentum Factor ETF	0.52%	0.56%	0.48%	0.89%	1.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEIM and PIE in my portfolio?

SEIM and PIE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIM or PIE?

PIE has higher volatility (9.00%) compared to SEIM (4.68%). In terms of maximum drawdown, SEIM dropped -22.17% vs PIE's -72.98%.

Which ETF is better, SEIM or PIE?

On 3-year performance, SEIM leads with 29.67% vs 23.39% for PIE. On fees, SEIM is cheaper at 0.15% per year. On volatility, SEIM has been the lower-risk option at 4.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEIM or PIE?

Over the 3-year period, SEIM has performed better with a 29.67% return vs 23.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEIM or PIE?

SEIM is cheaper with a 0.15% expense ratio, compared with 0.90% for PIE.

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

PIE has the higher dividend yield at 1.70%, compared with 0.52% for SEIM.

What is the main difference between SEIM and PIE?

They also come from different issuers: SEI and Invesco. Their fees differ too: 0.15% for SEIM and 0.90% for PIE.

Which has better risk-adjusted returns?

PIE currently has the higher Sharpe Ratio (3.24 vs 2.28), 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.