QVML vs. SOXQ

Last updated Jun 4, 2026

QVML (Invesco S&P 500 QVM Multi-factor ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - QVML is a Multi-factor fund tracking the S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, QVML returned 22.47%/yr vs 59.40%/yr for SOXQ. A 0.78 correlation means they provide meaningful diversification when combined. QVML charges 0.11%/yr vs 0.19%/yr for SOXQ.

Performance

QVML vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 QVM Multi-factor ETF (QVML) 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, QVML achieves a 11.17% return, which is significantly lower than SOXQ's 96.72% return.

QVML

• 1D: -0.58%
• 1M: 5.12%
• YTD: 11.17%
• 6M: 11.48%
• 1Y: 27.60%
• 3Y*: 22.47%
• 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)

QVML vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QVML Invesco S&P 500 QVM Multi-factor ETF	11.17%	17.74%	25.87%	22.19%	-16.25%	12.56%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	66.74%	-35.59%	19.41%

Correlation

The correlation between QVML and SOXQ is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.78

The correlation between QVML and SOXQ has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

QVML vs. SOXQ - Sectors Allocation Comparison

Sectors	QVML	SOXQ
Technology	35.5%	100.0%
Financial Services	12.8%	0.0%
Communication Services	11.9%	-
Healthcare	8.7%	-
Industrials	8.7%	-
Consumer Cyclical	7.3%	-
Consumer Defensive	5.5%	-
Energy	3.6%	-
Utilities	2.5%	-
Basic Materials	1.9%	-
Real Estate	1.6%	-

Return for Risk

QVML vs. SOXQ — Risk / Return Rank

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

QVML

QVML Risk / Return Rank: 71
QVML Sharpe Ratio Rank: 72
QVML Sortino Ratio Rank: 72
QVML Omega Ratio Rank: 70
QVML Calmar Ratio Rank: 63
QVML Martin Ratio Rank: 77

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.

QVML vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 QVM Multi-factor ETF (QVML) 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.

	QVML	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	2.38	5.43	-3.05
Sortino ratio: Return per unit of downside risk	3.29	5.22	-1.92
Omega ratio: Gain probability vs. loss probability	1.43	1.72	-0.30
Calmar ratio: Return relative to maximum drawdown	3.18	11.73	-8.56
Martin ratio: Return relative to average drawdown	14.85	45.01	-30.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QVML vs. SOXQ - Sharpe Ratio Comparison

The current QVML Sharpe Ratio is 2.38, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of QVML 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

	QVML	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	5.43	-3.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.98	-0.14

Drawdowns

QVML vs. SOXQ - Drawdown Comparison

The maximum QVML drawdown since its inception was -23.52%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for QVML and SOXQ.

Drawdown Indicators

	QVML	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-46.01%	+22.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-15.59%	+6.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.71%	-39.36%	+20.65%
Current Drawdown Current decline from peak	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-5.40%	-12.96%	+7.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	4.06%	-2.20%

Volatility

QVML vs. SOXQ - Volatility Comparison

The current volatility for Invesco S&P 500 QVM Multi-factor ETF (QVML) is 2.91%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that QVML 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

	QVML	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	13.44%	-10.53%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	26.70%	-17.74%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	33.78%	-22.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.59%	36.38%	-19.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.59%	36.38%	-19.79%

QVML vs. SOXQ - Expense Ratio Comparison

QVML has a 0.11% expense ratio, which is lower than SOXQ's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QVML vs. SOXQ - Dividend Comparison

QVML's dividend yield for the trailing twelve months is around 0.99%, more than SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021
QVML Invesco S&P 500 QVM Multi-factor ETF	0.99%	1.10%	1.15%	1.43%	1.72%	0.62%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%

Frequently Asked Questions

Can I hold both QVML and SOXQ in my portfolio?

QVML and SOXQ have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QVML or SOXQ?

SOXQ has higher volatility (13.44%) compared to QVML (2.91%). In terms of maximum drawdown, QVML dropped -23.52% vs SOXQ's -46.01%.

Which ETF is better, QVML or SOXQ?

On 3-year performance, SOXQ leads with 59.40% vs 22.47% for QVML. On fees, QVML is cheaper at 0.11% per year. On volatility, QVML has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QVML or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.40% return vs 22.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QVML or SOXQ?

QVML is cheaper with a 0.11% expense ratio, compared with 0.19% for SOXQ.

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

QVML has the higher dividend yield at 0.99%, compared with 0.26% for SOXQ.

What is the main difference between QVML and SOXQ?

QVML is categorized as Multi-factor, while SOXQ is Semiconductors. QVML tracks S&P 500 Quality, Value &Momentum Top 90% Multi-Factor Index - Benchmark TR Gross, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.11% for QVML and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 2.38), 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.