PXQ vs. ASMH

Last updated Jun 4, 2026

PXQ (Invesco Next Gen Connectivity ETF) and ASMH (ASML Holding NV ADR Hedged ETF) are both Technology Equities funds - PXQ tracks the STOXX World AC NexGen Connectivity Index while ASMH tracks the ASML Holding NV Sponsored ADR. Both are passively managed. Over the past year, PXQ returned 99.38% vs 130.11% for ASMH. A 0.60 correlation means they provide meaningful diversification when combined. PXQ charges 0.40%/yr vs 0.19%/yr for ASMH.

Performance

PXQ vs. ASMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Connectivity ETF (PXQ) and ASML Holding NV ADR Hedged ETF (ASMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PXQ having a 63.41% return and ASMH slightly higher at 63.99%.

PXQ

• 1D: -0.63%
• 1M: 26.38%
• YTD: 63.41%
• 6M: 62.53%
• 1Y: 99.38%
• 3Y*: 43.36%
• 5Y*: 21.73%
• 10Y*: 21.42%

ASMH

• 1D: 1.53%
• 1M: 25.24%
• YTD: 63.99%
• 6M: 53.18%
• 1Y: 130.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PXQ vs. ASMH - Yearly Performance Comparison

	2026 (YTD)	2025
PXQ Invesco Next Gen Connectivity ETF	63.41%	37.99%
ASMH ASML Holding NV ADR Hedged ETF	63.99%	58.84%

Correlation

The correlation between PXQ and ASMH is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Apr 24, 2025	0.60

The correlation between PXQ and ASMH has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

PXQ vs. ASMH — Risk / Return Rank

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

PXQ

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

ASMH

ASMH Risk / Return Rank: 88
ASMH Sharpe Ratio Rank: 92
ASMH Sortino Ratio Rank: 85
ASMH Omega Ratio Rank: 79
ASMH Calmar Ratio Rank: 95
ASMH Martin Ratio Rank: 90

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.

PXQ vs. ASMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (PXQ) and ASML Holding NV ADR Hedged ETF (ASMH). 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.

	PXQ	ASMH	Difference
Sharpe ratio Return per unit of total volatility	4.70	3.36	+1.34
Sortino ratio Return per unit of downside risk	5.72	3.81	+1.91
Omega ratio Gain probability vs. loss probability	1.76	1.47	+0.29
Calmar ratio Return relative to maximum drawdown	10.00	8.24	+1.77
Martin ratio Return relative to average drawdown	44.01	21.26	+22.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PXQ vs. ASMH - Sharpe Ratio Comparison

The current PXQ Sharpe Ratio is 4.70, which is higher than the ASMH Sharpe Ratio of 3.36. The chart below compares the historical Sharpe Ratios of PXQ and ASMH, 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

	PXQ	ASMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.70	3.36	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	3.59	-3.01

Drawdowns

PXQ vs. ASMH - Drawdown Comparison

The maximum PXQ drawdown since its inception was -57.18%, which is greater than ASMH's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for PXQ and ASMH.

Drawdown Indicators

	PXQ	ASMH	Difference
Max Drawdown Largest peak-to-trough decline	-57.18%	-15.89%	-41.29%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-15.89%	+5.90%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	—	—
Current Drawdown Current decline from peak	-0.63%	0.00%	-0.63%
Average Drawdown Average peak-to-trough decline	-10.74%	-4.33%	-6.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	6.14%	-3.87%

Volatility

PXQ vs. ASMH - Volatility Comparison

The current volatility for Invesco Next Gen Connectivity ETF (PXQ) is 9.19%, while ASML Holding NV ADR Hedged ETF (ASMH) has a volatility of 13.84%. This indicates that PXQ experiences smaller price fluctuations and is considered to be less risky than ASMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXQ	ASMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.19%	13.84%	-4.65%
Volatility (6M) Calculated over the trailing 6-month period	17.12%	30.43%	-13.31%
Volatility (1Y) Calculated over the trailing 1-year period	21.28%	38.94%	-17.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.19%	38.32%	-15.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	38.32%	-15.35%

PXQ vs. ASMH - Expense Ratio Comparison

PXQ has a 0.40% expense ratio, which is higher than ASMH's 0.19% expense ratio.

Dividends

PXQ vs. ASMH - Dividend Comparison

PXQ's dividend yield for the trailing twelve months is around 0.57%, less than ASMH's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ASMH ASML Holding NV ADR Hedged ETF	0.99%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXQ Invesco Next Gen Connectivity ETF	0.57%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%

Frequently Asked Questions

Can I hold both PXQ and ASMH in my portfolio?

PXQ and ASMH have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXQ or ASMH?

ASMH has higher volatility (13.84%) compared to PXQ (9.19%). In terms of maximum drawdown, PXQ dropped -57.18% vs ASMH's -15.89%.

Which ETF is better, PXQ or ASMH?

On 1-year performance, ASMH leads with 130.11% vs 99.38% for PXQ. On fees, ASMH is cheaper at 0.19% per year. On volatility, PXQ has been the lower-risk option at 9.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXQ or ASMH?

Over the 1-year period, ASMH has performed better with a 130.11% return vs 99.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXQ or ASMH?

ASMH is cheaper with a 0.19% expense ratio, compared with 0.40% for PXQ.

Which ETF pays a higher dividend yield, PXQ or ASMH?

ASMH has the higher dividend yield at 0.99%, compared with 0.57% for PXQ.

What is the main difference between PXQ and ASMH?

PXQ tracks STOXX World AC NexGen Connectivity Index, while ASMH tracks ASML Holding NV Sponsored ADR. They also come from different issuers: Invesco and Precidian Funds. Their fees differ too: 0.40% for PXQ and 0.19% for ASMH.

Which has better risk-adjusted returns?

PXQ currently has the higher Sharpe Ratio (4.70 vs 3.36), 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.