PDN vs. SOXQ

Last updated Jun 4, 2026

PDN (Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - PDN is a Foreign Small & Mid Cap Equities fund tracking the FTSE RAFI Developed x US Mid/Small, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, PDN returned 18.02%/yr vs 59.40%/yr for SOXQ. A 0.61 correlation means they provide meaningful diversification when combined. PDN charges 0.49%/yr vs 0.19%/yr for SOXQ.

Performance

PDN vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and Invesco PHLX Semiconductor ETF (SOXQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDN achieves a 10.22% return, which is significantly lower than SOXQ's 96.72% return.

PDN

• 1D: -0.74%
• 1M: 0.91%
• YTD: 10.22%
• 6M: 12.61%
• 1Y: 27.72%
• 3Y*: 18.02%
• 5Y*: 6.42%
• 10Y*: 8.41%

SOXQ

• 1D: 1.42%
• 1M: 32.12%
• YTD: 96.72%
• 6M: 91.61%
• 1Y: 181.76%
• 3Y*: 59.40%
• 5Y*: —
• 10Y*: —

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

PDN vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF	10.22%	38.34%	0.57%	13.35%	-17.35%	-5.10%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	66.74%	-35.59%	24.82%

Correlation

The correlation between PDN and SOXQ 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 (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.61

The correlation between PDN and SOXQ has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.

PDN vs. SOXQ - Sectors Allocation Comparison

Sectors	PDN	SOXQ
Industrials	22.4%	-
Financial Services	11.4%	0.0%
Consumer Cyclical	11.1%	-
Technology	10.3%	100.0%
Basic Materials	10.0%	-
Real Estate	8.6%	-
Healthcare	5.4%	-
Energy	5.1%	-
Consumer Defensive	4.7%	-
Communication Services	3.3%	-
Utilities	2.4%	-

Return for Risk

PDN vs. SOXQ — Risk / Return Rank

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

PDN

PDN Risk / Return Rank: 55
PDN Sharpe Ratio Rank: 56
PDN Sortino Ratio Rank: 56
PDN Omega Ratio Rank: 56
PDN Calmar Ratio Rank: 50
PDN Martin Ratio Rank: 56

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 98
SOXQ Sortino Ratio Rank: 95
SOXQ Omega Ratio Rank: 95
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 97

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.

PDN vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) 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.

	PDN	SOXQ	Difference
Sharpe ratio Return per unit of total volatility	1.91	5.43	-3.52
Sortino ratio Return per unit of downside risk	2.68	5.22	-2.54
Omega ratio Gain probability vs. loss probability	1.35	1.72	-0.38
Calmar ratio Return relative to maximum drawdown	2.47	11.73	-9.26
Martin ratio Return relative to average drawdown	9.64	45.01	-35.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PDN vs. SOXQ - Sharpe Ratio Comparison

The current PDN Sharpe Ratio is 1.91, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of PDN and SOXQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PDN	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	5.43	-3.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.98	-0.71

Drawdowns

PDN vs. SOXQ - Drawdown Comparison

The maximum PDN drawdown since its inception was -59.32%, which is greater than SOXQ's maximum drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for PDN and SOXQ.

Drawdown Indicators

	PDN	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-59.32%	-46.01%	-13.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	-15.59%	+4.33%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-39.36%	+26.11%
Max Drawdown (5Y) Largest decline over 5 years	-33.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.94%	—	—
Current Drawdown Current decline from peak	-2.62%	0.00%	-2.62%
Average Drawdown Average peak-to-trough decline	-11.59%	-12.96%	+1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	4.06%	-1.18%

Volatility

PDN vs. SOXQ - Volatility Comparison

The current volatility for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is 4.74%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that PDN 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.

Volatility by Period

	PDN	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	13.44%	-8.70%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	26.70%	-14.59%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	33.78%	-19.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.34%	36.38%	-20.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	36.38%	-19.32%

PDN vs. SOXQ - Expense Ratio Comparison

PDN has a 0.49% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

PDN vs. SOXQ - Dividend Comparison

PDN's dividend yield for the trailing twelve months is around 3.08%, more than SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF	3.08%	3.36%	3.36%	3.16%	2.68%	2.42%	1.79%	2.60%	2.21%	2.42%	2.16%	2.06%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	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

Can I hold both PDN and SOXQ in my portfolio?

PDN and SOXQ 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 is riskier, PDN or SOXQ?

SOXQ has higher volatility (13.44%) compared to PDN (4.74%). In terms of maximum drawdown, PDN dropped -59.32% vs SOXQ's -46.01%.

Which ETF is better, PDN or SOXQ?

On 3-year performance, SOXQ leads with 59.40% vs 18.02% for PDN. On fees, SOXQ is cheaper at 0.19% per year. On volatility, PDN has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDN or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.40% return vs 18.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDN or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.49% for PDN.

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

PDN has the higher dividend yield at 3.08%, compared with 0.26% for SOXQ.

What is the main difference between PDN and SOXQ?

PDN is categorized as Foreign Small & Mid Cap Equities, while SOXQ is Semiconductors. PDN tracks FTSE RAFI Developed x US Mid/Small, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.49% for PDN and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 1.91), 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.