IQMM vs. SOXQ

Last updated Aug 6, 2026

IQMM (ProShares GENIUS Money Market ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - IQMM is a Money Market fund actively managed by ProShares, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. IQMM is actively managed, while SOXQ is passively managed. Their -0.31 correlation means they have often moved in opposite directions in the past. IQMM charges 0.15%/yr vs 0.19%/yr for SOXQ.

Performance

IQMM vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares GENIUS Money Market ETF (IQMM) and Invesco PHLX Semiconductor ETF (SOXQ). 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*: —

SOXQ

• 1D: -1.39%
• 1M: -6.89%
• 6M: 57.87%
• YTD: 69.81%
• 1Y: 116.74%
• 3Y*: 48.95%
• 5Y*: 29.70%
• 10Y*: —
• ALL TIME*: 30.42%

*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)
IQMM ProShares GENIUS Money Market ETF	$243.95M	$228.28M	$165.99M
SOXQ Invesco PHLX Semiconductor ETF	$216.32M	$217.79M	$281.65M

IQMM vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)
IQMM ProShares GENIUS Money Market ETF	1.63%
SOXQ Invesco PHLX Semiconductor ETF	46.51%

Correlation

The correlation between IQMM and SOXQ 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. SOXQ — 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.

SOXQ

SOXQ Risk / Return Rank: 88
SOXQ Sharpe Ratio Rank: 93
SOXQ Sortino Ratio Rank: 81
SOXQ Omega Ratio Rank: 84
SOXQ Calmar Ratio Rank: 89
SOXQ Martin Ratio Rank: 91

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. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares GENIUS Money Market ETF (IQMM) 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.

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	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.68	—
Sortino ratio: Return per unit of downside risk	—	2.95	—
Omega ratio: Gain probability vs. loss probability	—	1.40	—
Calmar ratio: Return relative to maximum drawdown	—	4.11	—
Martin ratio: Return relative to average drawdown	—	16.42	—

Drawdowns

IQMM vs. SOXQ - Drawdown Comparison

The maximum IQMM drawdown since its inception was -0.02%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for IQMM and SOXQ.

Drawdown Indicators

	IQMM	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-0.02%	-46.01%	+45.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-28.56%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-39.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.01%	—
Current Drawdown Current decline from peak	0.00%	-17.88%	+17.88%
Average Drawdown Average peak-to-trough decline	0.00%	-12.93%	+12.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.14%	—

Volatility

Volatility by Period

	IQMM	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	37.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	43.81%	-43.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.22%	38.41%	-38.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.22%	38.00%	-37.78%

IQMM vs. SOXQ - Expense Ratio Comparison

IQMM has a 0.15% expense ratio, which is lower than SOXQ's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IQMM vs. SOXQ - Dividend Comparison

IQMM's dividend yield for the trailing twelve months is around 1.57%, more than SOXQ's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021
IQMM ProShares GENIUS Money Market ETF	1.57%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXQ Invesco PHLX Semiconductor ETF	0.30%	0.50%	0.68%	0.87%	1.36%	0.72%

Frequently Asked Questions

Can I hold both IQMM and SOXQ in my portfolio?

IQMM and SOXQ 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 SOXQ?

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 SOXQ?

IQMM is cheaper with a 0.15% expense ratio, compared with 0.19% for SOXQ.

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

IQMM has the higher dividend yield at 1.57%, compared with 0.30% for SOXQ.

What is the main difference between IQMM and SOXQ?

IQMM is categorized as Money Market, while SOXQ is Semiconductors. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.15% for IQMM and 0.19% for SOXQ.