PIEvsEEMETF Comparison
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Invesco DWA Emerging Markets Momentum ETF (PIE) and iShares MSCI Emerging Markets ETF (EEM) belong to the same industry segment: EM Large & Mid Cap. Both ETFs have the same top 3 sector exposures: Technology, Finance and Non-Energy Materials. PIE is more expensive with a Total Expense Ratio (TER) of 0.9%, versus 0.72% for EEM. PIE is up 41.27% year-to-date (YTD) with +$92M in YTD flows. EEM performs worse with 15.21% YTD performance, and +$4.85B in YTD flows. Run a side-by-side ETF comparison of PIE and EEM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PIE vs EEM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIE EEM | +1.75%-4.73% | +5.61%-2.52% | +41.27%+15.21% | +42.01%+18.04% | +92.25%+76.53% | +55.28%+36.12% |
| Flows | PIE EEM | +$17M-$91M | -$24M+$1.36B | +$92M+$4.85B | +$92M+$5.13B | +$57M+$2.29B | +$29M-$2.34B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIE EEM | +25.59%+22.04% | +25.29%+23.83% | +19.50%+18.33% | +18.11%+18.20% |
| Max drawdown | PIE EEM | -10.92%-9.38% | -16.21%-14.32% | -26.75%-15.99% | -36.29%-33.76% |
| Max drawdown duration | PIE EEM | 14d24d | 88d116d | 377d218d | 1344d1342d |
Trading data
PIE | EEM | |
Last sale 10/19/2026 at 1:30 PM | $33.27 | $63.31 |
| Previous close 10/16/2026 | $33.35 | $62.85 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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PIE | EEM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
PIE | EEM | |
|---|---|---|
| Last price | $33.27 | $63.31 |
| 1D performance | -0.23% | +0.73% |
| AuM | $264.22 M | $29.07 B |
| E/R | 0.9% | 0.72% |
Characteristics
PIE | EEM | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | iShares |
| Benchmark | Dorsey Wright Emerging Markets Technical Leaders Index | MSCI Emerging Markets Index |
| N° of holdings | 100 | 1116 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 28, 2007 | April 7, 2003 |
| ESG | No | No |
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Exposure
Countries
PIE
Taiwan
59.19%
China
14.91%
Other
25.9%
EEM
Taiwan
27.53%
Republic of Korea
20.69%
China
18.51%
India
11.36%
Other
21.91%
Sectors
PIE
Technology
40.46%
Finance
19.98%
Non-Energy Materi.
17.92%
Industrials
13.02%
Other
8.62%
EEM
Technology
44.93%
Finance
21.13%
Non-Energy Materi.
7.17%
Other
26.77%
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Diversification
PIE
Total weight of top 15 holdings out of 15
34.66%
EEM
Total weight of top 15 holdings out of 15
40.37%
Top 15 holdings
Data as of August 31, 2026
PIE
Wanguo Gold Group Ltd.
3.37%
Topco Scientific Co., Ltd.
2.89%
Taiwan Semiconductor Manufacturing Co., Ltd.
2.74%
Accton Technology Corp.
2.48%
United Integrated Services Co., Ltd.
2.38%
Marketech International Corp.
2.30%
Nan Ya Printed Circuit Board Corp
2.23%
Sigurd Microelectronics Corp.
2.19%
Unimicron Technology Corp.
2.16%
Yankey Engineering Co. Ltd.
2.15%
Zijin Mining Group Co., Ltd.
2.06%
Kinsus Interconnect Technology Corp.
2.02%
King Slide Works Co., Ltd.
2.00%
Chroma Ate, Inc.
1.89%
Supreme Electronics Co. Ltd.
1.80%
EEM
Taiwan Semiconductor Manufacturing Co., Ltd.
15.07%
Samsung Electronics Co., Ltd.
7.16%
SK hynix, Inc.
5.45%
Tencent Holdings Ltd.
2.86%
Alibaba Group Holding Ltd.
1.97%
MediaTek, Inc.
1.44%
Delta Electronics, Inc.
0.91%
Samsung Electronics Co., Ltd.
0.88%
China Construction Bank Corp.
0.82%
Hon Hai Precision Industry Co., Ltd.
0.78%
HDFC Bank Ltd.
0.68%
ICICI Bank Ltd.
0.64%
Reliance Industries Ltd.
0.62%
SK Square Co. Ltd.
0.56%
Industrial & Commercial Bank of China Ltd.
0.51%
Frequently asked questions about PIE and EEM
How have the PIE and EEM ETFs performed in 2026?
As of October 16, 2026, PIE is up 41.27% year-to-date (YTD), while EEM has returned 15.21%. That puts PIE better performer ahead so far this year.
Which ETF is attracting more investor money: PIE or EEM?
Year-to-date, the PIE ETF saw +$92M in flows, compared to +$4.85B for EEM.
Which ETF is more volatile: PIE or EEM?
Over the past year, PIE had a volatility of 25.29%, while EEM experienced 23.83%.
Which ETF is bigger: PIE or EEM?
As of October 16, 2026, PIE holds $264.22 M in assets under management (AUM), while EEM manages $29.07 B.
What sectors do the PIE and EEM ETFs invest in?
PIE leans toward sectors like Technology, Finance and Non-Energy Materials. Meanwhile, EEM focuses on Technology, Finance and Non-Energy Materials.
What are the top holdings of the PIE ETF and EEM ETF?
PIE top holdings include Wanguo Gold Group Ltd., Topco Scientific Co., Ltd. and Taiwan Semiconductor Manufacturing Co., Ltd.. EEM holds in its top three: Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd. and SK hynix, Inc..
Which ETF is more diversified: PIE or EEM?
PIE holds 100 securities with 34.66% of its assets in the top 15. EEM has 1173 securities and a top 15 weight of 40.37%.
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