PZT vs. SOXQ
Compare and contrast key facts about Invesco New York AMT-Free Municipal Bond ETF (PZT) and Invesco PHLX Semiconductor ETF (SOXQ).
PZT and SOXQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PZT is a passively managed fund by Invesco that tracks the performance of the ICE BofA New York Long-Term Core Plus Muni. It was launched on Oct 11, 2007. SOXQ is a passively managed fund by Invesco that tracks the performance of the PHLX Semiconductor Sector Index. It was launched on Jun 11, 2021. Both PZT and SOXQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PZT vs. SOXQ - Performance Comparison
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PZT vs. SOXQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 0.25% | 1.76% | 1.17% | 7.57% | -13.04% | 0.09% |
SOXQ Invesco PHLX Semiconductor ETF | 10.26% | 43.11% | 20.16% | 66.74% | -35.59% | 24.82% |
Returns By Period
In the year-to-date period, PZT achieves a 0.25% return, which is significantly lower than SOXQ's 10.26% return.
PZT
- 1D
- 0.43%
- 1M
- -1.43%
- YTD
- 0.25%
- 6M
- 1.39%
- 1Y
- 2.84%
- 3Y*
- 2.31%
- 5Y*
- -0.01%
- 10Y*
- 1.83%
SOXQ
- 1D
- 2.88%
- 1M
- -4.05%
- YTD
- 10.26%
- 6M
- 20.31%
- 1Y
- 83.12%
- 3Y*
- 35.09%
- 5Y*
- —
- 10Y*
- —
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PZT vs. SOXQ - Expense Ratio Comparison
PZT has a 0.28% expense ratio, which is higher than SOXQ's 0.19% expense ratio.
Return for Risk
PZT vs. SOXQ — Risk / Return Rank
PZT
SOXQ
PZT vs. SOXQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco New York AMT-Free Municipal Bond ETF (PZT) 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.
| PZT | SOXQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.41 | 2.08 | -1.68 |
Sortino ratioReturn per unit of downside risk | 0.59 | 2.68 | -2.10 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.38 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | 0.67 | 4.79 | -4.12 |
Martin ratioReturn relative to average drawdown | 1.67 | 17.49 | -15.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PZT | SOXQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.41 | 2.08 | -1.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.60 | -0.24 |
Correlation
The correlation between PZT and SOXQ is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PZT vs. SOXQ - Dividend Comparison
PZT's dividend yield for the trailing twelve months is around 3.57%, more than SOXQ's 0.46% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZT Invesco New York AMT-Free Municipal Bond ETF | 3.57% | 3.43% | 3.04% | 2.82% | 2.66% | 2.77% | 2.55% | 2.73% | 3.01% | 2.94% | 3.36% | 3.40% |
SOXQ Invesco PHLX Semiconductor ETF | 0.46% | 0.50% | 0.68% | 0.87% | 1.36% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PZT vs. SOXQ - Drawdown Comparison
The maximum PZT drawdown since its inception was -22.73%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for PZT and SOXQ.
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Drawdown Indicators
| PZT | SOXQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.73% | -46.01% | +23.28% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -17.44% | +11.51% |
Max Drawdown (5Y)Largest decline over 5 years | -19.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.13% | — | — |
Current DrawdownCurrent decline from peak | -3.94% | -7.78% | +3.84% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -13.37% | +9.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 4.78% | -2.41% |
Volatility
PZT vs. SOXQ - Volatility Comparison
The current volatility for Invesco New York AMT-Free Municipal Bond ETF (PZT) is 1.74%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 12.69%. This indicates that PZT 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.
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Volatility by Period
| PZT | SOXQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 12.69% | -10.95% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 26.33% | -23.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 40.14% | -33.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 36.10% | -29.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 36.10% | -29.17% |