MAKX vs. PXQ
MAKX (ProShares S&P Kensho Smart Factories ETF) and PXQ (Invesco Next Gen Connectivity ETF) are both Technology Equities funds - MAKX tracks the S&P Kensho Smart Factories Index while PXQ tracks the STOXX World AC NexGen Connectivity Index. Both are passively managed. Over the past 3 years, MAKX returned 20.16%/yr vs 33.13%/yr for PXQ. Their 0.79 correlation means they have sometimes moved together and sometimes differently. MAKX charges 0.58%/yr vs 0.40%/yr for PXQ.
Performance
MAKX vs. PXQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MAKX achieves a 30.73% return, which is significantly lower than PXQ's 40.12% return.
MAKX
- 1D
- 2.03%
- 1M
- -4.52%
- 6M
- 21.32%
- YTD
- 30.73%
- 1Y
- 39.25%
- 3Y*
- 20.16%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.87%
PXQ
- 1D
- 0.08%
- 1M
- -4.96%
- 6M
- 31.73%
- YTD
- 40.12%
- 1Y
- 63.92%
- 3Y*
- 33.13%
- 5Y*
- 16.31%
- 10Y*
- 18.83%
- ALL TIME*
- 13.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $87.07K | $94.68K | $155.23K | |
| $741.37K | $822.66K | $837.91K |
MAKX vs. PXQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MAKX ProShares S&P Kensho Smart Factories ETF | 30.73% | 21.63% | 8.27% | 26.03% | -26.41% | 3.10% |
PXQ Invesco Next Gen Connectivity ETF | 40.12% | 28.65% | 19.41% | 27.39% | -29.54% | 12.25% |
Correlation
The correlation between MAKX and PXQ is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.79 |
The correlation between MAKX and PXQ has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MAKX vs. PXQ — Risk / Return Rank
MAKX
PXQ
MAKX vs. PXQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Smart Factories ETF (MAKX) and Invesco Next Gen Connectivity ETF (PXQ). 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.
| MAKX | PXQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.38 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 3.31 | -1.45 |
| Martin ratioReturn relative to average drawdown | 5.49 | 13.33 | -7.84 |
Loading charts...
Drawdowns
MAKX vs. PXQ - Drawdown Comparison
The maximum MAKX drawdown since its inception was -40.27%, smaller than the maximum PXQ drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for MAKX and PXQ.
Loading charts...
Drawdown Indicators
| MAKX | PXQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.27% | -57.18% | +16.91% |
Max Drawdown (1Y)Largest decline over 1 year | -19.36% | -18.91% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -29.76% | -21.40% | -8.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.55% | — |
Current DrawdownCurrent decline from peak | -12.67% | -14.80% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -16.34% | -10.73% | -5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 4.68% | +1.86% |
Volatility
MAKX vs. PXQ - Volatility Comparison
ProShares S&P Kensho Smart Factories ETF (MAKX) has a higher volatility of 13.58% compared to Invesco Next Gen Connectivity ETF (PXQ) at 11.26%. This indicates that MAKX's price experiences larger fluctuations and is considered to be riskier than PXQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MAKX | PXQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.58% | 11.26% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 26.57% | 24.68% | +1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.62% | 27.67% | +5.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.06% | 24.48% | +4.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.06% | 23.55% | +5.51% |
MAKX vs. PXQ - Expense Ratio Comparison
MAKX has a 0.58% expense ratio, which is higher than PXQ's 0.40% expense ratio.
Dividends
MAKX vs. PXQ - Dividend Comparison
MAKX's dividend yield for the trailing twelve months is around 0.14%, less than PXQ's 0.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MAKX ProShares S&P Kensho Smart Factories ETF | 0.14% | 0.15% | 0.24% | 0.52% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PXQ Invesco Next Gen Connectivity ETF | 0.68% | 0.86% | 1.38% | 0.60% | 2.24% | 0.55% | 0.18% | 0.44% | 1.22% | 0.66% | 0.44% |
Frequently Asked Questions
MAKX and PXQ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAKX has higher volatility (13.58%) compared to PXQ (11.26%). In terms of maximum drawdown, MAKX dropped -40.27% vs PXQ's -57.18%.
On 3-year performance, PXQ leads with 33.13% vs 20.16% for MAKX. On fees, PXQ is cheaper at 0.40% per year. On volatility, PXQ has been the lower-risk option at 11.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PXQ has performed better with a 33.13% return vs 20.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PXQ is cheaper with a 0.40% expense ratio, compared with 0.58% for MAKX.
PXQ has the higher dividend yield at 0.68%, compared with 0.14% for MAKX.
MAKX tracks S&P Kensho Smart Factories Index, while PXQ tracks STOXX World AC NexGen Connectivity Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.58% for MAKX and 0.40% for PXQ.
PXQ currently has the higher Sharpe Ratio (2.27 vs 1.07), 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.
Find the right allocation for MAKX and PXQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer