IPKW vs. SOXQ

Last updated Jun 4, 2026

IPKW (Invesco International BuyBack Achievers™ ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - IPKW is a Global Equities fund tracking the NASDAQ International BuyBack Achievers Index, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, IPKW returned 23.62%/yr vs 59.40%/yr for SOXQ. A 0.53 correlation means they provide meaningful diversification when combined. IPKW charges 0.55%/yr vs 0.19%/yr for SOXQ.

Performance

IPKW vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International BuyBack Achievers™ ETF (IPKW) and Invesco PHLX Semiconductor ETF (SOXQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPKW achieves a 6.08% return, which is significantly lower than SOXQ's 96.72% return.

IPKW

• 1D: -1.07%
• 1M: 0.86%
• YTD: 6.08%
• 6M: 9.96%
• 1Y: 26.14%
• 3Y*: 23.62%
• 5Y*: 9.19%
• 10Y*: 11.44%

SOXQ

• 1D: 1.42%
• 1M: 32.12%
• YTD: 96.72%
• 6M: 91.61%
• 1Y: 181.76%
• 3Y*: 59.40%
• 5Y*: —
• 10Y*: —

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

IPKW vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IPKW Invesco International BuyBack Achievers™ ETF	6.08%	45.50%	10.56%	15.12%	-12.81%	-9.15%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	66.74%	-35.59%	24.82%

Correlation

The correlation between IPKW and SOXQ is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.53

The correlation between IPKW and SOXQ has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

IPKW vs. SOXQ - Sectors Allocation Comparison

Sectors	IPKW	SOXQ
Financial Services	32.3%	0.0%
Energy	21.4%	-
Consumer Cyclical	15.8%	-
Industrials	11.4%	-
Communication Services	6.3%	-
Technology	3.8%	100.0%
Utilities	3.5%	-
Basic Materials	2.9%	-
Real Estate	1.1%	-
Healthcare	1.0%	-
Consumer Defensive	0.4%	-

Return for Risk

IPKW vs. SOXQ — Risk / Return Rank

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

IPKW

IPKW Risk / Return Rank: 54
IPKW Sharpe Ratio Rank: 53
IPKW Sortino Ratio Rank: 53
IPKW Omega Ratio Rank: 53
IPKW Calmar Ratio Rank: 58
IPKW Martin Ratio Rank: 56

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 98
SOXQ Sortino Ratio Rank: 95
SOXQ Omega Ratio Rank: 95
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 97

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.

IPKW vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International BuyBack Achievers™ ETF (IPKW) and Invesco PHLX Semiconductor ETF (SOXQ). 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.

	IPKW	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	1.84	5.43	-3.59
Sortino ratio: Return per unit of downside risk	2.58	5.22	-2.63
Omega ratio: Gain probability vs. loss probability	1.33	1.72	-0.39
Calmar ratio: Return relative to maximum drawdown	2.87	11.73	-8.86
Martin ratio: Return relative to average drawdown	9.91	45.01	-35.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPKW vs. SOXQ - Sharpe Ratio Comparison

The current IPKW Sharpe Ratio is 1.84, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of IPKW and SOXQ, 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

	IPKW	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	5.43	-3.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.98	-0.38

Drawdowns

IPKW vs. SOXQ - Drawdown Comparison

The maximum IPKW drawdown since its inception was -47.24%, roughly equal to the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for IPKW and SOXQ.

Drawdown Indicators

	IPKW	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-47.24%	-46.01%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-15.59%	+6.45%
Max Drawdown (3Y) Largest decline over 3 years	-17.77%	-39.36%	+21.59%
Max Drawdown (5Y) Largest decline over 5 years	-33.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	—	—
Current Drawdown Current decline from peak	-2.45%	0.00%	-2.45%
Average Drawdown Average peak-to-trough decline	-9.00%	-12.96%	+3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	4.06%	-1.42%

Volatility

IPKW vs. SOXQ - Volatility Comparison

The current volatility for Invesco International BuyBack Achievers™ ETF (IPKW) is 4.37%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that IPKW experiences smaller price fluctuations and is considered to be less risky than SOXQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPKW	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	13.44%	-9.07%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	26.70%	-14.84%
Volatility (1Y) Calculated over the trailing 1-year period	14.31%	33.78%	-19.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	36.38%	-19.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	36.38%	-18.47%

IPKW vs. SOXQ - Expense Ratio Comparison

IPKW has a 0.55% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

IPKW vs. SOXQ - Dividend Comparison

IPKW's dividend yield for the trailing twelve months is around 3.52%, more than SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPKW Invesco International BuyBack Achievers™ ETF	3.52%	3.55%	4.12%	2.66%	3.77%	7.37%	1.45%	2.41%	2.61%	0.93%	2.82%	1.31%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPKW and SOXQ in my portfolio?

IPKW and SOXQ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPKW or SOXQ?

SOXQ has higher volatility (13.44%) compared to IPKW (4.37%). In terms of maximum drawdown, IPKW dropped -47.24% vs SOXQ's -46.01%.

Which ETF is better, IPKW or SOXQ?

On 3-year performance, SOXQ leads with 59.40% vs 23.62% for IPKW. On fees, SOXQ is cheaper at 0.19% per year. On volatility, IPKW has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPKW or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.40% return vs 23.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPKW or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.55% for IPKW.

Which ETF pays a higher dividend yield, IPKW or SOXQ?

IPKW has the higher dividend yield at 3.52%, compared with 0.26% for SOXQ.

What is the main difference between IPKW and SOXQ?

IPKW is categorized as Global Equities, while SOXQ is Semiconductors. IPKW tracks NASDAQ International BuyBack Achievers Index, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.55% for IPKW and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 1.84), 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.