PNQI vs. SOXX

Last updated Jun 5, 2026

PNQI (Invesco NASDAQ Internet ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet Index, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, PNQI returned 11.85%/yr vs 35.54%/yr for SOXX. A 0.66 correlation means they provide meaningful diversification when combined. PNQI charges 0.62%/yr vs 0.34%/yr for SOXX.

Performance

PNQI vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ Internet ETF (PNQI) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PNQI achieves a -10.35% return, which is significantly lower than SOXX's 100.26% return. Over the past 10 years, PNQI has underperformed SOXX with an annualized return of 11.85%, while SOXX has yielded a comparatively higher 35.54% annualized return.

PNQI

• 1D: 0.96%
• 1M: -0.42%
• YTD: -10.35%
• 6M: -11.05%
• 1Y: -2.59%
• 3Y*: 16.78%
• 5Y*: 0.30%
• 10Y*: 11.85%

SOXX

• 1D: -2.10%
• 1M: 24.86%
• YTD: 100.26%
• 6M: 97.20%
• 1Y: 179.78%
• 3Y*: 57.09%
• 5Y*: 33.93%
• 10Y*: 35.54%

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

PNQI vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PNQI Invesco NASDAQ Internet ETF	-10.35%	15.56%	29.44%	60.69%	-47.92%	-5.57%	61.36%	28.76%	-5.08%	40.05%
SOXX iShares Semiconductor ETF	100.26%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%

Correlation

The correlation between PNQI and SOXX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 16, 2008	0.66

Over the past year, the correlation between PNQI and SOXX has dropped to 0.36 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

PNQI vs. SOXX - Sectors Allocation Comparison

Sectors	PNQI	SOXX
Technology	38.5%	100.0%
Communication Services	30.8%	-
Consumer Cyclical	27.7%	-
Financial Services	2.6%	-
Real Estate	0.4%	-
Industrials	0.1%	-
Healthcare	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Utilities	-	-

Return for Risk

PNQI vs. SOXX — Risk / Return Rank

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

PNQI

PNQI Risk / Return Rank: 8
PNQI Sharpe Ratio Rank: 8
PNQI Sortino Ratio Rank: 7
PNQI Omega Ratio Rank: 7
PNQI Calmar Ratio Rank: 8
PNQI Martin Ratio Rank: 8

SOXX

SOXX Risk / Return Rank: 96
SOXX Sharpe Ratio Rank: 98
SOXX Sortino Ratio Rank: 95
SOXX Omega Ratio Rank: 95
SOXX Calmar Ratio Rank: 97
SOXX 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.

PNQI vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) and iShares Semiconductor ETF (SOXX). 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.

	PNQI	SOXX	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	5.29	-5.44
Sortino ratio: Return per unit of downside risk	-0.07	5.16	-5.23
Omega ratio: Gain probability vs. loss probability	0.99	1.71	-0.72
Calmar ratio: Return relative to maximum drawdown	-0.10	11.48	-11.58
Martin ratio: Return relative to average drawdown	-0.25	43.90	-44.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PNQI vs. SOXX - Sharpe Ratio Comparison

The current PNQI Sharpe Ratio is -0.14, which is lower than the SOXX Sharpe Ratio of 5.29. The chart below compares the historical Sharpe Ratios of PNQI and SOXX, 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

	PNQI	SOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	5.29	-5.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.94	-0.93
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	1.07	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.44	+0.08

Drawdowns

PNQI vs. SOXX - Drawdown Comparison

The maximum PNQI drawdown since its inception was -59.70%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for PNQI and SOXX.

Drawdown Indicators

	PNQI	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-59.70%	-70.21%	+10.51%
Max Drawdown (1Y) Largest decline over 1 year	-24.85%	-15.77%	-9.08%
Max Drawdown (3Y) Largest decline over 3 years	-24.85%	-41.36%	+16.51%
Max Drawdown (5Y) Largest decline over 5 years	-59.56%	-45.75%	-13.81%
Max Drawdown (10Y) Largest decline over 10 years	-59.70%	-45.75%	-13.95%
Current Drawdown Current decline from peak	-15.27%	-2.10%	-13.17%
Average Drawdown Average peak-to-trough decline	-12.96%	-19.97%	+7.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.56%	4.11%	+6.45%

Volatility

PNQI vs. SOXX - Volatility Comparison

The current volatility for Invesco NASDAQ Internet ETF (PNQI) is 4.77%, while iShares Semiconductor ETF (SOXX) has a volatility of 14.08%. This indicates that PNQI experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PNQI	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	14.08%	-9.31%
Volatility (6M) Calculated over the trailing 6-month period	13.87%	27.45%	-13.58%
Volatility (1Y) Calculated over the trailing 1-year period	18.10%	34.20%	-16.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.80%	36.11%	-9.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.29%	33.43%	-8.14%

PNQI vs. SOXX - Expense Ratio Comparison

PNQI has a 0.62% expense ratio, which is higher than SOXX's 0.34% expense ratio.

Dividends

PNQI vs. SOXX - Dividend Comparison

PNQI's dividend yield for the trailing twelve months is around 0.02%, less than SOXX's 0.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PNQI Invesco NASDAQ Internet ETF	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%
SOXX iShares Semiconductor ETF	0.28%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both PNQI and SOXX in my portfolio?

PNQI and SOXX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PNQI or SOXX?

SOXX has higher volatility (14.08%) compared to PNQI (4.77%). In terms of maximum drawdown, PNQI dropped -59.70% vs SOXX's -70.21%.

Which ETF is better, PNQI or SOXX?

On 10-year performance, SOXX leads with 35.54% vs 11.85% for PNQI. On fees, SOXX is cheaper at 0.34% per year. On volatility, PNQI has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PNQI or SOXX?

Over the 10-year period, SOXX has performed better with a 35.54% return vs 11.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PNQI or SOXX?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.62% for PNQI.

Which ETF pays a higher dividend yield, PNQI or SOXX?

SOXX has the higher dividend yield at 0.28%, compared with 0.02% for PNQI.

What is the main difference between PNQI and SOXX?

PNQI is categorized as Large Cap Growth Equities, while SOXX is Semiconductors. PNQI tracks NASDAQ Internet Index, while SOXX tracks NYSE Semiconductor Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.62% for PNQI and 0.34% for SOXX.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (5.29 vs -0.14), 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.