PHDG vs. SOXQ
PHDG (Invesco S&P 500 Downside Hedged ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - PHDG is a Equity Hedged fund tracking the S&P 500 Dynamic VEQTOR Index, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 5 years, PHDG returned 4.49%/yr vs 35.10%/yr for SOXQ. A 0.53 correlation means they provide meaningful diversification when combined. PHDG charges 0.39%/yr vs 0.19%/yr for SOXQ.
Performance
PHDG vs. SOXQ - Performance Comparison
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Returns By Period
In the year-to-date period, PHDG achieves a 8.98% return, which is significantly lower than SOXQ's 97.25% return.
PHDG
- 1D
- -0.54%
- 1M
- -3.78%
- YTD
- 8.98%
- 6M
- 8.09%
- 1Y
- 18.45%
- 3Y*
- 9.38%
- 5Y*
- 4.49%
- 10Y*
- 7.20%
SOXQ
- 1D
- 3.74%
- 1M
- 8.43%
- YTD
- 97.25%
- 6M
- 94.11%
- 1Y
- 155.07%
- 3Y*
- 59.38%
- 5Y*
- 35.10%
- 10Y*
- —
PHDG vs. SOXQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 8.98% | 2.72% | 10.95% | 8.18% | -14.09% | 8.61% |
SOXQ Invesco PHLX Semiconductor ETF | 97.25% | 43.11% | 20.16% | 66.74% | -35.59% | 25.19% |
Correlation
The correlation between PHDG and SOXQ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021 | 0.53 |
The correlation between PHDG and SOXQ has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.
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Return for Risk
PHDG vs. SOXQ — Risk / Return Rank
PHDG
SOXQ
PHDG vs. SOXQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Downside Hedged ETF (PHDG) 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.
| PHDG | SOXQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.57 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 10.01 | -7.10 |
| Martin ratioReturn relative to average drawdown | 13.18 | 35.61 | -22.43 |
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Drawdowns
PHDG vs. SOXQ - Drawdown Comparison
The maximum PHDG drawdown since its inception was -17.70%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for PHDG and SOXQ.
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Drawdown Indicators
| PHDG | SOXQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.70% | -46.01% | +28.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -15.59% | +9.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -39.36% | +24.58% |
Max Drawdown (5Y)Largest decline over 5 years | -17.06% | -46.01% | +28.95% |
Max Drawdown (10Y)Largest decline over 10 years | -17.06% | — | — |
Current DrawdownCurrent decline from peak | -6.36% | -4.61% | -1.75% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -12.86% | +6.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 4.37% | -2.97% |
Volatility
PHDG vs. SOXQ - Volatility Comparison
The current volatility for Invesco S&P 500 Downside Hedged ETF (PHDG) is 7.72%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 21.67%. This indicates that PHDG 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.
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Volatility by Period
| PHDG | SOXQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.72% | 21.67% | -13.95% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 32.56% | -22.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.39% | 38.78% | -27.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.41% | 37.37% | -25.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.11% | 37.24% | -25.13% |
PHDG vs. SOXQ - Expense Ratio Comparison
PHDG has a 0.39% expense ratio, which is higher than SOXQ's 0.19% expense ratio.
Dividends
PHDG vs. SOXQ - Dividend Comparison
PHDG's dividend yield for the trailing twelve months is around 1.70%, more than SOXQ's 0.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 1.70% | 2.10% | 1.94% | 1.93% | 1.35% | 0.44% | 0.63% | 1.80% | 1.56% | 1.83% | 2.29% | 1.64% |
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
PHDG and SOXQ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXQ has higher volatility (21.67%) compared to PHDG (7.72%). In terms of maximum drawdown, PHDG dropped -17.70% vs SOXQ's -46.01%.
On 5-year performance, SOXQ leads with 35.10% vs 4.49% for PHDG. On fees, SOXQ is cheaper at 0.19% per year. On volatility, PHDG has been the lower-risk option at 7.72%. 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 35.10% return vs 4.49%. 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 0.39% for PHDG.
PHDG has the higher dividend yield at 1.70%, compared with 0.26% for SOXQ.
PHDG is categorized as Equity Hedged, while SOXQ is Semiconductors. PHDG tracks S&P 500 Dynamic VEQTOR Index, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.39% for PHDG and 0.19% for SOXQ.
SOXQ currently has the higher Sharpe Ratio (4.02 vs 1.63), 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.
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