PXQ vs. QQH

Last updated Jun 24, 2026

PXQ (Invesco Next Gen Connectivity ETF) and QQH (HCM Defender 100 Index ETF) are both Technology Equities funds - PXQ tracks the STOXX World AC NexGen Connectivity Index while QQH tracks the HCM Defender 100 Index. Both are passively managed. Over the past 5 years, PXQ returned 19.32%/yr vs 12.07%/yr for QQH. A 0.79 correlation means they provide meaningful diversification when combined. PXQ charges 0.40%/yr vs 1.14%/yr for QQH.

Performance

PXQ vs. QQH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Connectivity ETF (PXQ) and HCM Defender 100 Index ETF (QQH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXQ achieves a 54.15% return, which is significantly higher than QQH's 6.74% return.

PXQ

• 1D: -5.38%
• 1M: 5.48%
• YTD: 54.15%
• 6M: 54.94%
• 1Y: 84.85%
• 3Y*: 40.93%
• 5Y*: 19.32%
• 10Y*: 21.11%

QQH

• 1D: -4.16%
• 1M: -2.80%
• YTD: 6.74%
• 6M: 4.72%
• 1Y: 28.70%
• 3Y*: 21.78%
• 5Y*: 12.07%
• 10Y*: —

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

PXQ vs. QQH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PXQ Invesco Next Gen Connectivity ETF	54.15%	28.65%	19.41%	27.39%	-29.54%	21.83%	39.14%	8.57%
QQH HCM Defender 100 Index ETF	6.74%	15.66%	33.64%	48.05%	-39.60%	37.52%	41.71%	15.09%

Correlation

The correlation between PXQ and QQH is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019	0.79

The correlation between PXQ and QQH has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

Return for Risk

PXQ vs. QQH — Risk / Return Rank

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

PXQ

PXQ Risk / Return Rank: 93
PXQ Sharpe Ratio Rank: 95
PXQ Sortino Ratio Rank: 90
PXQ Omega Ratio Rank: 92
PXQ Calmar Ratio Rank: 95
PXQ Martin Ratio Rank: 95

QQH

QQH Risk / Return Rank: 35
QQH Sharpe Ratio Rank: 37
QQH Sortino Ratio Rank: 33
QQH Omega Ratio Rank: 35
QQH Calmar Ratio Rank: 37
QQH Martin Ratio Rank: 34

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. QQH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (PXQ) and HCM Defender 100 Index ETF (QQH). 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.

	PXQ	QQH	Difference
Sharpe ratio: Return per unit of total volatility	3.42	1.25	+2.17
Sortino ratio: Return per unit of downside risk	3.96	1.69	+2.27
Omega ratio: Gain probability vs. loss probability	1.57	1.22	+0.35
Calmar ratio: Return relative to maximum drawdown	6.94	1.78	+5.15
Martin ratio: Return relative to average drawdown	30.00	4.73	+25.27

PXQ vs. QQH - Sharpe Ratio Comparison

The current PXQ Sharpe Ratio is 3.42, which is higher than the QQH Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of PXQ and QQH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PXQ vs. QQH - Drawdown Comparison

The maximum PXQ drawdown since its inception was -57.18%, which is greater than QQH's maximum drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for PXQ and QQH.

Drawdown Indicators

	PXQ	QQH	Difference
Max Drawdown Largest peak-to-trough decline	-57.18%	-41.87%	-15.31%
Max Drawdown (1Y) Largest decline over 1 year	-12.30%	-16.18%	+3.88%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-24.84%	+3.44%
Max Drawdown (5Y) Largest decline over 5 years	-34.55%	-41.87%	+7.32%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	—	—
Current Drawdown Current decline from peak	-6.27%	-7.53%	+1.26%
Average Drawdown Average peak-to-trough decline	-10.73%	-12.87%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	6.08%	-3.24%

Volatility

PXQ vs. QQH - Volatility Comparison

Invesco Next Gen Connectivity ETF (PXQ) has a higher volatility of 15.64% compared to HCM Defender 100 Index ETF (QQH) at 11.82%. This indicates that PXQ's price experiences larger fluctuations and is considered to be riskier than QQH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXQ	QQH	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.64%	11.82%	+3.82%
Volatility (6M) Calculated over the trailing 6-month period	21.75%	17.82%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	25.15%	23.13%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.96%	22.02%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.33%	25.00%	-1.67%

PXQ vs. QQH - Expense Ratio Comparison

PXQ has a 0.40% expense ratio, which is lower than QQH's 1.14% expense ratio.

Dividends

PXQ vs. QQH - Dividend Comparison

PXQ's dividend yield for the trailing twelve months is around 0.62%, more than QQH's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PXQ Invesco Next Gen Connectivity ETF	0.62%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%
QQH HCM Defender 100 Index ETF	0.20%	0.21%	0.24%	0.27%	0.00%	0.00%	0.00%	0.21%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PXQ and QQH in my portfolio?

PXQ and QQH have a correlation of 0.82, 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 QQH?

PXQ has higher volatility (15.64%) compared to QQH (11.82%). In terms of maximum drawdown, PXQ dropped -57.18% vs QQH's -41.87%.

Which ETF is better, PXQ or QQH?

On 5-year performance, PXQ leads with 19.32% vs 12.07% for QQH. On fees, PXQ is cheaper at 0.40% per year. On volatility, QQH has been the lower-risk option at 11.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXQ or QQH?

Over the 5-year period, PXQ has performed better with a 19.32% return vs 12.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXQ or QQH?

PXQ is cheaper with a 0.40% expense ratio, compared with 1.14% for QQH.

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

PXQ has the higher dividend yield at 0.62%, compared with 0.20% for QQH.

What is the main difference between PXQ and QQH?

PXQ tracks STOXX World AC NexGen Connectivity Index, while QQH tracks HCM Defender 100 Index. They also come from different issuers: Invesco and Howard Capital Management. Their fees differ too: 0.40% for PXQ and 1.14% for QQH.

Which has better risk-adjusted returns?

PXQ currently has the higher Sharpe Ratio (3.42 vs 1.25), 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.