PIM vs QQQ
PIM vs QQQ
Putnam Master Intermediate Income Trust vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | PIM | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.18% | |
| AUM | $1,493.58 | $455.8B | |
| Dividend Yield | 7.79% | 0.41% | |
| Holdings | 775 | 108 | |
| YTD Return | -1.24% | +18.34% | |
| 1Y Return | +1.58% | +28.94% | |
| 3Y Return (annualized) | +7.37% | +25.28% | |
| 5Y Return (annualized) | +2.34% | +15.22% | |
| Volatility (annualized) | 10.7% | 30.6% | |
| Max Drawdown | -59.0% | -83.0% | |
| Fund Family | Putnam Investments | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Apr 29, 1988 | Mar 10, 1999 |
PIM vs QQQ Performance
Putnam Master Intermediate Income Trust (PIM) is a ETF from Putnam Investments and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year PIM returned +1.58% while QQQ returned +28.94%. Year to date, PIM is down 1.24% versus a gain of 18.34% for QQQ.
Over three years, PIM compounded at +7.37% per year against +25.28% for QQQ; over five years the annualized figures are +2.34% and +15.22% respectively. Across the full 27-year window we track, QQQ has the edge at +13.12% annualized vs -1.47%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 10.7% for PIM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -59.0% for PIM and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.20. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIM charges 1.01% per year while QQQ charges 0.18%. On a $10,000 position that is $101 vs $18 annually, a gap of $83 per year that compounds over a long holding period. On income, PIM currently yields 7.79% against 0.41% for QQQ.
Holdings Overlap
PIM and QQQ share 0 holdings out of 106 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PIM or QQQ?
PIM has an expense ratio of 1.01% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $83 per year of difference.
Which performed better, PIM or QQQ?
Over the past year PIM returned +1.58% vs +28.94% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (27 years), PIM annualized -1.47% vs +13.12% for QQQ. Past performance does not guarantee future results.
Which is riskier, PIM or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 10.7% for PIM. Worst drawdown: PIM -59.0% vs QQQ -83.0%.
Should I hold both PIM and QQQ?
PIM and QQQ have a monthly-return correlation of 0.20, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIM and QQQ?
PIM and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 106 unique securities.
Which pays a higher dividend, PIM or QQQ?
PIM yields 7.79% while QQQ yields 0.41%, so PIM currently pays the higher dividend yield.
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