IQMM vs. FTXL

Last updated Aug 6, 2026

IQMM (ProShares GENIUS Money Market ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - IQMM is a Money Market fund actively managed by ProShares, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. IQMM is actively managed, while FTXL is passively managed. Their -0.31 correlation means they have often moved in opposite directions in the past. IQMM charges 0.15%/yr vs 0.60%/yr for FTXL.

Performance

IQMM vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares GENIUS Money Market ETF (IQMM) and First Trust Nasdaq Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IQMM

• 1D: 0.01%
• 1M: 0.30%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FTXL

• 1D: -1.76%
• 1M: -9.62%
• 6M: 57.32%
• YTD: 78.28%
• 1Y: 140.44%
• 3Y*: 48.06%
• 5Y*: 27.69%
• 10Y*: —
• ALL TIME*: 28.78%

*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)
FTXL First Trust Nasdaq Semiconductor ETF	$138.68M	$95.49M	$85.62M
IQMM ProShares GENIUS Money Market ETF	$243.95M	$228.28M	$165.99M

IQMM vs. FTXL - Yearly Performance Comparison

	2026 (YTD)
IQMM ProShares GENIUS Money Market ETF	1.63%
FTXL First Trust Nasdaq Semiconductor ETF	46.68%

Correlation

The correlation between IQMM and FTXL is -0.31, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	-0.31

Return for Risk

IQMM vs. FTXL — Risk / Return Rank

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

IQMM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FTXL

FTXL Risk / Return Rank: 90
FTXL Sharpe Ratio Rank: 95
FTXL Sortino Ratio Rank: 86
FTXL Omega Ratio Rank: 87
FTXL Calmar Ratio Rank: 91
FTXL Martin Ratio Rank: 92

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.

IQMM vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares GENIUS Money Market ETF (IQMM) and First Trust Nasdaq Semiconductor ETF (FTXL). 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.

	IQMM	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	—	3.03	—
Sortino ratio: Return per unit of downside risk	—	3.18	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	4.33	—
Martin ratio: Return relative to average drawdown	—	17.79	—

Drawdowns

IQMM vs. FTXL - Drawdown Comparison

The maximum IQMM drawdown since its inception was -0.02%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for IQMM and FTXL.

Drawdown Indicators

	IQMM	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-0.02%	-43.87%	+43.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-32.64%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-41.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.87%	—
Current Drawdown Current decline from peak	0.00%	-22.26%	+22.26%
Average Drawdown Average peak-to-trough decline	0.00%	-10.62%	+10.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.93%	—

Volatility

Volatility by Period

	IQMM	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.99%	—
Volatility (6M) Calculated over the trailing 6-month period	—	40.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	46.69%	-46.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.22%	38.39%	-38.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.22%	35.35%	-35.13%

IQMM vs. FTXL - Expense Ratio Comparison

IQMM has a 0.15% expense ratio, which is lower than FTXL's 0.60% expense ratio.

Dividends

IQMM vs. FTXL - Dividend Comparison

IQMM's dividend yield for the trailing twelve months is around 1.57%, more than FTXL's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTXL First Trust Nasdaq Semiconductor ETF	0.11%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%
IQMM ProShares GENIUS Money Market ETF	1.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IQMM and FTXL in my portfolio?

IQMM and FTXL have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQMM or FTXL?

On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQMM or FTXL?

IQMM is cheaper with a 0.15% expense ratio, compared with 0.60% for FTXL.

Which ETF pays a higher dividend yield, IQMM or FTXL?

IQMM has the higher dividend yield at 1.57%, compared with 0.11% for FTXL.

What is the main difference between IQMM and FTXL?

IQMM is categorized as Money Market, while FTXL is Semiconductors. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.15% for IQMM and 0.60% for FTXL.