MOON vs. PXQ

Last updated Jul 14, 2026

MOON (Direxion Moonshot Innovators ETF) and PXQ (Invesco Next Gen Connectivity ETF) are both Technology Equities funds - MOON tracks the S&P Kensho Moonshots Index while PXQ tracks the STOXX World AC NexGen Connectivity Index. Both are passively managed. A 0.56 correlation means they provide meaningful diversification when combined. MOON charges 0.65%/yr vs 0.40%/yr for PXQ.

Performance

MOON vs. PXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Moonshot Innovators ETF (MOON) and Invesco Next Gen Connectivity ETF (PXQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MOON

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PXQ

• 1D: -3.10%
• 1M: -4.12%
• 6M: 40.49%
• YTD: 46.33%
• 1Y: 69.84%
• 3Y*: 36.29%
• 5Y*: 17.96%
• 10Y*: 19.89%

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

MOON vs. PXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	-8.56%	9.85%	-61.07%	-13.78%	26.82%
PXQ Invesco Next Gen Connectivity ETF	46.33%	28.65%	19.41%	27.39%	-29.54%	21.83%	18.29%

Correlation

The correlation between MOON and PXQ is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Nov 12, 2020	0.56

The correlation between MOON and PXQ shifts across timeframes, from 0.29 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

MOON vs. PXQ - Sectors Allocation Comparison

Sectors	MOON	PXQ
Technology	42.4%	60.5%
Healthcare	23.5%	-
Consumer Cyclical	11.9%	-
Communication Services	9.3%	5.7%
Industrials	7.5%	0.1%
Financial Services	4.2%	0.0%
Basic Materials	1.2%	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	3.0%
Utilities	-	-

Return for Risk

MOON vs. PXQ — Risk / Return Rank

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

MOON

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

PXQ

PXQ Risk / Return Rank: 92
PXQ Sharpe Ratio Rank: 93
PXQ Sortino Ratio Rank: 88
PXQ Omega Ratio Rank: 90
PXQ Calmar Ratio Rank: 94
PXQ Martin Ratio Rank: 94

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.

MOON vs. PXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Moonshot Innovators ETF (MOON) 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.

	MOON	PXQ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.68	—
Sortino ratio: Return per unit of downside risk	—	3.20	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	5.71	—
Martin ratio: Return relative to average drawdown	—	20.88	—

Drawdowns

Drawdown Indicators

	MOON	PXQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-57.18%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.55%	—
Current Drawdown Current decline from peak	—	-11.02%	—
Average Drawdown Average peak-to-trough decline	—	-10.72%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.35%	—

Volatility

Volatility by Period

	MOON	PXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.29%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	24.25%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	23.40%	—

MOON vs. PXQ - Expense Ratio Comparison

MOON has a 0.65% expense ratio, which is higher than PXQ's 0.40% expense ratio.

Dividends

MOON vs. PXQ - Dividend Comparison

MOON has not paid dividends to shareholders, while PXQ's dividend yield for the trailing twelve months is around 0.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.62%	1.41%	0.00%	1.64%	0.00%	0.00%	0.00%	0.00%	0.00%
PXQ Invesco Next Gen Connectivity ETF	0.65%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%

Frequently Asked Questions

Can I hold both MOON and PXQ in my portfolio?

MOON and PXQ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MOON or PXQ?

On fees, PXQ is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MOON or PXQ?

PXQ is cheaper with a 0.40% expense ratio, compared with 0.65% for MOON.

Which ETF pays a higher dividend yield, MOON or PXQ?

PXQ has the higher dividend yield at 0.65%, compared with 0.00% for MOON.

What is the main difference between MOON and PXQ?

MOON tracks S&P Kensho Moonshots Index, while PXQ tracks STOXX World AC NexGen Connectivity Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.65% for MOON and 0.40% for PXQ.