PWB vs. SOXQ

Last updated Jun 4, 2026

PWB (Invesco Dynamic Large Cap Growth ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - PWB is a Large Cap Growth Equities fund tracking the Dynamic Large Cap Growth Intellidex Index, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, PWB returned 34.49%/yr vs 59.40%/yr for SOXQ. Their correlation of 0.81 suggests significant overlap in exposure. PWB charges 0.56%/yr vs 0.19%/yr for SOXQ.

Performance

PWB vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Large Cap Growth ETF (PWB) 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, PWB achieves a 28.68% return, which is significantly lower than SOXQ's 96.72% return.

PWB

• 1D: 0.22%
• 1M: 10.94%
• YTD: 28.68%
• 6M: 28.89%
• 1Y: 45.84%
• 3Y*: 34.49%
• 5Y*: 18.36%
• 10Y*: 18.47%

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)

PWB vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PWB Invesco Dynamic Large Cap Growth ETF	28.68%	24.94%	31.04%	30.61%	-25.81%	12.98%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	66.74%	-35.59%	24.82%

Correlation

The correlation between PWB and SOXQ is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.81

The correlation between PWB and SOXQ has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

PWB vs. SOXQ - Sectors Allocation Comparison

Sectors	PWB	SOXQ
Technology	44.6%	100.0%
Industrials	15.9%	-
Communication Services	10.9%	-
Financial Services	10.3%	0.0%
Consumer Defensive	8.4%	-
Consumer Cyclical	5.2%	-
Healthcare	3.6%	-
Utilities	1.6%	-
Basic Materials	1.1%	-
Energy	-	-
Real Estate	-	-

Return for Risk

PWB vs. SOXQ — Risk / Return Rank

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

PWB

PWB Risk / Return Rank: 74
PWB Sharpe Ratio Rank: 76
PWB Sortino Ratio Rank: 70
PWB Omega Ratio Rank: 69
PWB Calmar Ratio Rank: 75
PWB Martin Ratio Rank: 81

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.

PWB vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Large Cap Growth ETF (PWB) 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.

	PWB	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	2.50	5.43	-2.93
Sortino ratio: Return per unit of downside risk	3.23	5.22	-1.99
Omega ratio: Gain probability vs. loss probability	1.42	1.72	-0.31
Calmar ratio: Return relative to maximum drawdown	3.80	11.73	-7.93
Martin ratio: Return relative to average drawdown	16.42	45.01	-28.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWB vs. SOXQ - Sharpe Ratio Comparison

The current PWB Sharpe Ratio is 2.50, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of PWB 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

	PWB	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	5.43	-2.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.98	-0.37

Drawdowns

PWB vs. SOXQ - Drawdown Comparison

The maximum PWB drawdown since its inception was -52.58%, which is greater than SOXQ's maximum drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for PWB and SOXQ.

Drawdown Indicators

	PWB	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-52.58%	-46.01%	-6.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	-15.59%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	-22.10%	-39.36%	+17.26%
Max Drawdown (5Y) Largest decline over 5 years	-31.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.36%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.23%	-12.96%	+4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	4.06%	-1.26%

Volatility

PWB vs. SOXQ - Volatility Comparison

The current volatility for Invesco Dynamic Large Cap Growth ETF (PWB) is 5.38%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that PWB 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

	PWB	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	13.44%	-8.06%
Volatility (6M) Calculated over the trailing 6-month period	15.00%	26.70%	-11.70%
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	33.78%	-15.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	36.38%	-15.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.71%	36.38%	-15.67%

PWB vs. SOXQ - Expense Ratio Comparison

PWB has a 0.56% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

PWB vs. SOXQ - Dividend Comparison

PWB has not paid dividends to shareholders, while SOXQ's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PWB Invesco Dynamic Large Cap Growth ETF	0.00%	0.00%	0.08%	0.37%	0.31%	0.04%	0.21%	0.58%	0.97%	0.54%	0.82%	0.67%
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 PWB and SOXQ in my portfolio?

PWB and SOXQ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PWB or SOXQ?

SOXQ has higher volatility (13.44%) compared to PWB (5.38%). In terms of maximum drawdown, PWB dropped -52.58% vs SOXQ's -46.01%.

Which ETF is better, PWB or SOXQ?

On 3-year performance, SOXQ leads with 59.40% vs 34.49% for PWB. On fees, SOXQ is cheaper at 0.19% per year. On volatility, PWB has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWB or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.40% return vs 34.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWB or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.56% for PWB.

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

SOXQ has the higher dividend yield at 0.26%, compared with 0.00% for PWB.

What is the main difference between PWB and SOXQ?

PWB is categorized as Large Cap Growth Equities, while SOXQ is Semiconductors. PWB tracks Dynamic Large Cap Growth Intellidex Index, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.56% for PWB and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 2.50), 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.