ETF Evaluator:
Invesco NASDAQ Internet ETF (PNQI)
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(as of Jul 31)
Best Performing in Large Growth Over the Last Year
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ETF Details
Invesco NASDAQ Internet ETF Overview
Invesco NASDAQ Internet ETF (PNQI) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Invesco launched the ETF in 2008.
The investment seeks to track the investment results (before fees and expenses) of the Nasdaq CTA Internet IndexSM.
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is designed to track the performance of companies engaged in Internet-related businesses that are listed on the New York Stock Exchange ("NYSE"), NYSE American, Cboe Exchange ("Cboe") or The Nasdaq Stock Market ("Nasdaq"). The fund is non-diversified.
About Invesco NASDAQ Internet ETF (PNQI)
There are 3 members of the management team with an average tenure of 13.91 years: Peter Hubbard (2008), Michael Jeanette (2008) and Pratik Doshi (2020). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: NASDAQ Composite TR USD index with a weighting of 100% and NASDAQ CTA Internet TR USD index with a weighting of 100%. Invesco NASDAQ Internet ETF has 78 securities in its portfolio. The top 10 holdings constitute 59.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco NASDAQ Internet ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco NASDAQ Internet ETF has 12.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.7% There is 12.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco NASDAQ Internet ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $504 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PNQI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco NASDAQ Internet ETF expense ratio is above average compared to funds in the Large Growth category. Invesco NASDAQ Internet ETF has an expense ratio of 0.60%, which is 21% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco NASDAQ Internet ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of June 2026, Invesco NASDAQ Internet ETF returned -7.5%, which earned it a grade of F, as the Large Growth category had an average return of -0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco NASDAQ Internet ETF has a trailing yield of 0.00%, which is below the 0.47% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco NASDAQ Internet ETF Grades
Year to date, the ETF has returned -15.5%, 26.5 percentage points worse than the category, which translates into a grade of F. The fund has returned -12.8% over the past year (grade of F), 13.4% over the past three years (grade of F) and -2.3% per year over the past five years (grade of F) and 11.5% per year over the past 10 years (grade of F).
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PNQI Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PNQI Return (NAV) | -7.5% | 1.8% | -12.8% | 13.4% | -2.3% | 11.5% |
| PNQI Return (Price) | -7.4% | 1.9% | -12.7% | 13.4% | -2.3% | 11.5% |
| NAV +/- Price Return | -0.080% | -0.057% | -0.130% | -0.009% | 0.003% | -0.030% |
| Large Growth Avg | -0.6% | 20.4% | 20.8% | 22.9% | 11.4% | 16.7% |
| PNQI Grade (NAV) | F | F | F | F | F | F |
| +/- Category (NAV) | -6.9% | -18.5% | -33.6% | -9.5% | -13.7% | -5.2% |
| PNQI Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
PNQI Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PNQI Return (NAV) | -15.5% | 15.6% | 29.4% | 60.6% | -47.9% | -5.7% | 61.3% | 28.9% | -5.0% | 39.9% | 3.2% |
| PNQI Return (Price) | -15.5% | 15.6% | 29.4% | 60.7% | -47.9% | -5.6% | 61.4% | 28.8% | -5.1% | 40.0% | 3.0% |
| NAV +/- Price Ret | -0.001% | -0.005% | 0.001% | 0.002% | 0.001% | -0.020% | 0.002% | -0.4% | 1.2% | 0.3% | -5.3% |
| Large Growth Avg | 10.9% | 16.8% | 30.4% | 38.6% | -30.8% | 21.3% | 37.6% | 33.1% | -2.0% | 28.2% | 5.0% |
| PNQI Grade (NAV) | F | C | C | A | F | F | A | F | D | A | D |
| +/- Category | -26.5% | -1.1% | -1.0% | 22.0% | -17.1% | -27.0% | 23.7% | -4.2% | -3.0% | 11.7% | -1.8% |
| Risk Measures | |
| Beta: | 1.23 |
| R-Squared: | 73% |
| Standard Deviation: | 18.9% |
| Category Risk Index: | 1.05 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.55 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 504 Mil |
| Share Class Assets: | $ 504 Mil |
| Turnover: | na |
| Expense Ratio: | 0.60% |
| Index Fund: | Yes |
| Index Tracked: | NASDAQ Composite TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 18.1 years | |||
| Average Tenure: 13.9 years | |||
| Managers (Year): Hubbard Peter (2008), Jeanette Michael (2008), Doshi Pratik (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 78 |
| % in Top 10 Holdings: | 59.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 12.3% |
Portfolio Allocation |
|
| Domestic Stock: | 87.7% |
| Foreign Stock: | 12.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | June 12, 2008 |
Expenses and Fees
| Expense Ratio (%): | 0.60% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.50% |
