PCEF vs. SOXQ
PCEF (Invesco CEF Income Composite ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - PCEF is a Diversified Portfolio fund tracking the S-Network Composite Closed-End Fund Index, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 5 years, PCEF returned 4.64%/yr vs 34.04%/yr for SOXQ. A 0.64 correlation means they provide meaningful diversification when combined. PCEF charges 2.71%/yr vs 0.19%/yr for SOXQ.
Performance
PCEF vs. SOXQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PCEF achieves a 4.51% return, which is significantly lower than SOXQ's 90.62% return.
PCEF
- 1D
- -0.61%
- 1M
- 0.94%
- YTD
- 4.51%
- 6M
- 4.88%
- 1Y
- 13.23%
- 3Y*
- 13.17%
- 5Y*
- 4.64%
- 10Y*
- 7.26%
SOXQ
- 1D
- -7.82%
- 1M
- 10.55%
- YTD
- 90.62%
- 6M
- 87.99%
- 1Y
- 158.27%
- 3Y*
- 57.61%
- 5Y*
- 34.04%
- 10Y*
- —
PCEF vs. SOXQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 4.51% | 12.59% | 16.70% | 9.39% | -18.66% | 2.23% |
SOXQ Invesco PHLX Semiconductor ETF | 90.62% | 43.11% | 20.16% | 66.74% | -35.59% | 25.19% |
Correlation
The correlation between PCEF and SOXQ is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021 | 0.64 |
The correlation between PCEF and SOXQ has been stable across timeframes, ranging from 0.61 to 0.64 - 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
PCEF vs. SOXQ — Risk / Return Rank
PCEF
SOXQ
PCEF vs. SOXQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CEF Income Composite ETF (PCEF) 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.
| PCEF | SOXQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.58 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 10.22 | -8.61 |
| Martin ratioReturn relative to average drawdown | 7.39 | 36.68 | -29.29 |
Loading charts...
Drawdowns
PCEF vs. SOXQ - Drawdown Comparison
The maximum PCEF drawdown since its inception was -38.64%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for PCEF and SOXQ.
Loading charts...
Drawdown Indicators
| PCEF | SOXQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.64% | -46.01% | +7.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -15.59% | +7.29% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -39.36% | +25.27% |
Max Drawdown (5Y)Largest decline over 5 years | -24.25% | -46.01% | +21.76% |
Max Drawdown (10Y)Largest decline over 10 years | -38.64% | — | — |
Current DrawdownCurrent decline from peak | -1.19% | -7.82% | +6.63% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -12.87% | +8.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 4.33% | -2.53% |
Volatility
PCEF vs. SOXQ - Volatility Comparison
The current volatility for Invesco CEF Income Composite ETF (PCEF) is 2.92%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 22.04%. This indicates that PCEF 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.
Loading charts...
Volatility by Period
| PCEF | SOXQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 22.04% | -19.12% |
Volatility (6M)Calculated over the trailing 6-month period | 7.56% | 32.49% | -24.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.93% | 38.78% | -29.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.52% | 37.34% | -25.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.31% | 37.24% | -23.93% |
PCEF vs. SOXQ - Expense Ratio Comparison
PCEF has a 2.71% expense ratio, which is higher than SOXQ's 0.19% expense ratio.
Dividends
PCEF vs. SOXQ - Dividend Comparison
PCEF's dividend yield for the trailing twelve months is around 7.75%, more than SOXQ's 0.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCEF Invesco CEF Income Composite ETF | 7.75% | 7.96% | 8.79% | 9.86% | 8.93% | 6.67% | 7.54% | 7.12% | 8.21% | 6.96% | 7.72% | 9.18% |
SOXQ Invesco PHLX Semiconductor ETF | 0.27% | 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
PCEF and SOXQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXQ has higher volatility (22.04%) compared to PCEF (2.92%). In terms of maximum drawdown, PCEF dropped -38.64% vs SOXQ's -46.01%.
On 5-year performance, SOXQ leads with 34.04% vs 4.64% for PCEF. On fees, SOXQ is cheaper at 0.19% per year. On volatility, PCEF has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SOXQ has performed better with a 34.04% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXQ is cheaper with a 0.19% expense ratio, compared with 2.71% for PCEF.
PCEF has the higher dividend yield at 7.75%, compared with 0.27% for SOXQ.
PCEF is categorized as Diversified Portfolio, while SOXQ is Semiconductors. PCEF tracks S-Network Composite Closed-End Fund Index, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 2.71% for PCEF and 0.19% for SOXQ.
SOXQ currently has the higher Sharpe Ratio (4.11 vs 1.49), 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 PCEF and SOXQ
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