PXQ vs. VOX

Last updated Jun 4, 2026

PXQ (Invesco Next Gen Connectivity ETF) and VOX (Vanguard Communication Services ETF) are both Technology Equities funds - PXQ tracks the STOXX World AC NexGen Connectivity Index while VOX tracks the MSCI US Investable Market Telecommunication Services 25/50 Index. Both are passively managed. Over the past 10 years, PXQ returned 21.42%/yr vs 9.30%/yr for VOX. A 0.63 correlation means they provide meaningful diversification when combined. PXQ charges 0.40%/yr vs 0.10%/yr for VOX.

Performance

PXQ vs. VOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Connectivity ETF (PXQ) and Vanguard Communication Services ETF (VOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXQ achieves a 63.41% return, which is significantly higher than VOX's -1.38% return. Over the past 10 years, PXQ has outperformed VOX with an annualized return of 21.42%, while VOX has yielded a comparatively lower 9.30% annualized return.

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%

VOX

• 1D: -0.84%
• 1M: -2.77%
• YTD: -1.38%
• 6M: 0.47%
• 1Y: 20.55%
• 3Y*: 24.02%
• 5Y*: 7.58%
• 10Y*: 9.30%

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

PXQ vs. VOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PXQ Invesco Next Gen Connectivity ETF	63.41%	28.65%	19.41%	27.39%	-29.54%	21.83%	39.14%	26.35%	5.78%	15.41%
VOX Vanguard Communication Services ETF	-1.38%	26.27%	33.12%	44.81%	-38.85%	13.83%	29.12%	28.03%	-16.75%	-5.50%

Correlation

The correlation between PXQ and VOX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 24, 2005	0.63

The correlation between PXQ and VOX shifts across timeframes, from 0.50 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

PXQ vs. VOX - Sectors Allocation Comparison

Sectors	PXQ	VOX
Technology	83.7%	1.2%
Communication Services	11.8%	98.4%
Real Estate	3.2%	0.1%
Industrials	0.9%	0.0%
Financial Services	0.2%	-
Basic Materials	-	-
Consumer Cyclical	-	0.2%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.0%
Utilities	-	-

Return for Risk

PXQ vs. VOX — 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

VOX

VOX Risk / Return Rank: 35
VOX Sharpe Ratio Rank: 36
VOX Sortino Ratio Rank: 38
VOX Omega Ratio Rank: 35
VOX Calmar Ratio Rank: 30
VOX Martin Ratio Rank: 37

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. VOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (PXQ) and Vanguard Communication Services ETF (VOX). 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	VOX	Difference
Sharpe ratio Return per unit of total volatility	4.70	1.34	+3.36
Sortino ratio Return per unit of downside risk	5.72	2.00	+3.72
Omega ratio Gain probability vs. loss probability	1.76	1.24	+0.52
Calmar ratio Return relative to maximum drawdown	10.00	1.52	+8.48
Martin ratio Return relative to average drawdown	44.01	5.83	+38.19
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. VOX - Sharpe Ratio Comparison

The current PXQ Sharpe Ratio is 4.70, which is higher than the VOX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of PXQ and VOX, 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	VOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.70	1.34	+3.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.36	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.45	+0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.43	+0.15

Drawdowns

PXQ vs. VOX - Drawdown Comparison

The maximum PXQ drawdown since its inception was -57.18%, roughly equal to the maximum VOX drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for PXQ and VOX.

Drawdown Indicators

	PXQ	VOX	Difference
Max Drawdown Largest peak-to-trough decline	-57.18%	-57.18%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-13.56%	+3.57%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-21.15%	-0.25%
Max Drawdown (5Y) Largest decline over 5 years	-34.55%	-46.76%	+12.21%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	-46.76%	+12.21%
Current Drawdown Current decline from peak	-0.63%	-4.70%	+4.07%
Average Drawdown Average peak-to-trough decline	-10.74%	-11.91%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	3.54%	-1.27%

Volatility

PXQ vs. VOX - Volatility Comparison

Invesco Next Gen Connectivity ETF (PXQ) has a higher volatility of 9.19% compared to Vanguard Communication Services ETF (VOX) at 4.24%. This indicates that PXQ's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXQ	VOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.19%	4.24%	+4.95%
Volatility (6M) Calculated over the trailing 6-month period	17.12%	11.16%	+5.96%
Volatility (1Y) Calculated over the trailing 1-year period	21.28%	15.45%	+5.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.19%	21.15%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	20.89%	+2.08%

PXQ vs. VOX - Expense Ratio Comparison

PXQ has a 0.40% expense ratio, which is higher than VOX's 0.10% expense ratio.

Dividends

PXQ vs. VOX - Dividend Comparison

PXQ's dividend yield for the trailing twelve months is around 0.57%, less than VOX's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
VOX Vanguard Communication Services ETF	1.00%	0.95%	1.05%	1.03%	0.88%	0.93%	0.73%	0.90%	2.77%	3.83%	2.67%	3.55%

Frequently Asked Questions

Can I hold both PXQ and VOX in my portfolio?

PXQ and VOX have a correlation of 0.50, 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 VOX?

PXQ has higher volatility (9.19%) compared to VOX (4.24%). In terms of maximum drawdown, PXQ dropped -57.18% vs VOX's -57.18%.

Which ETF is better, PXQ or VOX?

On 10-year performance, PXQ leads with 21.42% vs 9.30% for VOX. On fees, VOX is cheaper at 0.10% per year. On volatility, VOX has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXQ or VOX?

Over the 10-year period, PXQ has performed better with a 21.42% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXQ or VOX?

VOX is cheaper with a 0.10% expense ratio, compared with 0.40% for PXQ.

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

VOX has the higher dividend yield at 1.00%, compared with 0.57% for PXQ.

What is the main difference between PXQ and VOX?

PXQ tracks STOXX World AC NexGen Connectivity Index, while VOX tracks MSCI US Investable Market Telecommunication Services 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.40% for PXQ and 0.10% for VOX.

Which has better risk-adjusted returns?

PXQ currently has the higher Sharpe Ratio (4.70 vs 1.34), 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.