QOWZ vs. SOXQ

Last updated Jun 4, 2026

QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - QOWZ is a Large Cap Growth Equities fund tracking the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past year, QOWZ returned 2.83% vs 181.76% for SOXQ. A 0.71 correlation means they provide meaningful diversification when combined. QOWZ charges 0.39%/yr vs 0.19%/yr for SOXQ.

Performance

QOWZ vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) 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, QOWZ achieves a -1.71% return, which is significantly lower than SOXQ's 96.72% return.

QOWZ

• 1D: -1.13%
• 1M: 6.39%
• YTD: -1.71%
• 6M: -1.76%
• 1Y: 2.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

QOWZ vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	-1.71%	7.24%	33.16%	6.47%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	14.44%

Correlation

The correlation between QOWZ and SOXQ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.71

Over the past year, the correlation between QOWZ and SOXQ has dropped to 0.48 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

QOWZ vs. SOXQ - Sectors Allocation Comparison

Sectors	QOWZ	SOXQ
Technology	57.9%	100.0%
Industrials	12.4%	-
Healthcare	9.8%	-
Communication Services	8.5%	-
Financial Services	5.1%	0.0%
Consumer Cyclical	4.1%	-
Consumer Defensive	2.1%	-
Basic Materials	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

QOWZ vs. SOXQ — Risk / Return Rank

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

QOWZ

QOWZ Risk / Return Rank: 11
QOWZ Sharpe Ratio Rank: 11
QOWZ Sortino Ratio Rank: 11
QOWZ Omega Ratio Rank: 10
QOWZ Calmar Ratio Rank: 10
QOWZ Martin Ratio Rank: 11

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.

QOWZ vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) 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.

	QOWZ	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	0.19	5.43	-5.24
Sortino ratio: Return per unit of downside risk	0.36	5.22	-4.86
Omega ratio: Gain probability vs. loss probability	1.04	1.72	-0.68
Calmar ratio: Return relative to maximum drawdown	0.16	11.73	-11.58
Martin ratio: Return relative to average drawdown	0.42	45.01	-44.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QOWZ vs. SOXQ - Sharpe Ratio Comparison

The current QOWZ Sharpe Ratio is 0.19, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of QOWZ 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

	QOWZ	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	5.43	-5.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.98	-0.06

Drawdowns

QOWZ vs. SOXQ - Drawdown Comparison

The maximum QOWZ drawdown since its inception was -20.36%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for QOWZ and SOXQ.

Drawdown Indicators

	QOWZ	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.36%	-46.01%	+25.65%
Max Drawdown (1Y) Largest decline over 1 year	-17.81%	-15.59%	-2.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-39.36%	—
Current Drawdown Current decline from peak	-5.46%	0.00%	-5.46%
Average Drawdown Average peak-to-trough decline	-3.98%	-12.96%	+8.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.70%	4.06%	+2.64%

Volatility

QOWZ vs. SOXQ - Volatility Comparison

The current volatility for Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) is 5.04%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that QOWZ 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

	QOWZ	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	13.44%	-8.40%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	26.70%	-14.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	33.78%	-18.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	36.38%	-17.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	36.38%	-17.11%

QOWZ vs. SOXQ - Expense Ratio Comparison

QOWZ has a 0.39% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

QOWZ vs. SOXQ - Dividend Comparison

QOWZ's dividend yield for the trailing twelve months is around 0.26%, which matches SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF	0.26%	0.28%	0.66%	0.00%	0.00%	0.00%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%

Frequently Asked Questions

Can I hold both QOWZ and SOXQ in my portfolio?

QOWZ and SOXQ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QOWZ or SOXQ?

SOXQ has higher volatility (13.44%) compared to QOWZ (5.04%). In terms of maximum drawdown, QOWZ dropped -20.36% vs SOXQ's -46.01%.

Which ETF is better, QOWZ or SOXQ?

On 1-year performance, SOXQ leads with 181.76% vs 2.83% for QOWZ. On fees, SOXQ is cheaper at 0.19% per year. On volatility, QOWZ has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QOWZ or SOXQ?

Over the 1-year period, SOXQ has performed better with a 181.76% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QOWZ or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.39% for QOWZ.

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

QOWZ and SOXQ have nearly identical dividend yields, around 0.26%.

What is the main difference between QOWZ and SOXQ?

QOWZ is categorized as Large Cap Growth Equities, while SOXQ is Semiconductors. QOWZ tracks Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.39% for QOWZ and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 0.19), 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.