SEIM vs. PIE

Last updated Aug 2, 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 26.24%/yr vs 17.55%/yr for PIE. Their 0.56 correlation means they have sometimes moved together and sometimes differently. 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 15.26% return, which is significantly lower than PIE's 27.02% return.

SEIM

• 1D: 0.47%
• 1M: -2.14%
• 6M: 12.15%
• YTD: 15.26%
• 1Y: 25.77%
• 3Y*: 26.24%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.51%

PIE

• 1D: 2.51%
• 1M: -8.10%
• 6M: 16.52%
• YTD: 27.02%
• 1Y: 43.01%
• 3Y*: 17.55%
• 5Y*: 5.53%
• 10Y*: 8.76%
• ALL TIME*: 2.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PIE Invesco DWA Emerging Markets Momentum ETF	$2.45M	$4.43M	$2.83M
SEIM SEI Enhanced US Large Cap Momentum Factor ETF	$5.57M	$6.94M	$5.12M

SEIM vs. PIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SEIM SEI Enhanced US Large Cap Momentum Factor ETF	15.26%	20.20%	39.12%	16.25%	-5.62%
PIE Invesco DWA Emerging Markets Momentum ETF	27.02%	25.98%	-0.27%	13.71%	-13.30%

Correlation

The correlation between SEIM and PIE is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.54
Correlation (All Time) Calculated using the full available price history since May 18, 2022	0.56

The correlation between SEIM and PIE shifts across timeframes, from 0.54 (3 years) to 0.68 (1 year), reflecting how their relationship changes across market environments.

SEIM vs. PIE - Sectors Allocation Comparison

Sectors	SEIM	PIE
Technology	29.5%	52.7%
Energy	11.8%	3.7%
Healthcare	9.5%	3.2%
Financial Services	8.1%	14.6%
Basic Materials	8.1%	2.9%
Consumer Defensive	7.9%	0.2%
Consumer Cyclical	7.2%	1.5%
Real Estate	7.2%	3.5%
Communication Services	4.4%	1.3%
Industrials	3.4%	15.3%
Utilities	2.4%	1.2%

Return for Risk

SEIM vs. PIE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SEIM

SEIM Risk / Return Rank: 60
SEIM Sharpe Ratio Rank: 54
SEIM Sortino Ratio Rank: 53
SEIM Omega Ratio Rank: 51
SEIM Calmar Ratio Rank: 69
SEIM Martin Ratio Rank: 71

PIE

PIE Risk / Return Rank: 71
PIE Sharpe Ratio Rank: 71
PIE Sortino Ratio Rank: 61
PIE Omega Ratio Rank: 70
PIE Calmar Ratio Rank: 73
PIE Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	SEIM	PIE	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.61	-0.32
Sortino ratio: Return per unit of downside risk	1.87	2.07	-0.20
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	2.40	2.53	-0.14
Martin ratio: Return relative to average drawdown	8.72	10.20	-1.48

SEIM vs. PIE - Sharpe Ratio Comparison

The current SEIM Sharpe Ratio is 1.30, which is comparable to the PIE Sharpe Ratio of 1.61. 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.

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%	-17.26%	+7.19%
Max Drawdown (3Y) Largest decline over 3 years	-22.17%	-28.69%	+6.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.32%	—
Current Drawdown Current decline from peak	-5.49%	-13.10%	+7.61%
Average Drawdown Average peak-to-trough decline	-3.97%	-25.91%	+21.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	4.28%	-1.52%

Volatility

SEIM vs. PIE - Volatility Comparison

The current volatility for SEI Enhanced US Large Cap Momentum Factor ETF (SEIM) is 6.28%, while Invesco DWA Emerging Markets Momentum ETF (PIE) has a volatility of 12.08%. 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	6.28%	12.08%	-5.80%
Volatility (6M) Calculated over the trailing 6-month period	15.62%	24.13%	-8.51%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	27.09%	-8.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	21.34%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	21.86%	-2.68%

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 0.55%, less than PIE's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIE Invesco DWA Emerging Markets Momentum ETF	1.90%	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	0.55%	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 0.68, 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 (12.08%) compared to SEIM (6.28%). 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 26.24% vs 17.55% for PIE. On fees, SEIM is cheaper at 0.15% per year. On volatility, SEIM has been the lower-risk option at 6.28%. 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 26.24% return vs 17.55%. 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 1.90%, compared with 0.55% 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 (1.61 vs 1.30), 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.