SPMV vs. SOXQ

Last updated Jul 14, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. A 0.55 correlation means they provide meaningful diversification when combined. SPMV charges 0.10%/yr vs 0.19%/yr for SOXQ.

Performance

SPMV vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Minimum Variance ETF (SPMV) and Invesco PHLX Semiconductor ETF (SOXQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPMV

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXQ

• 1D: -4.86%
• 1M: -7.72%
• 6M: 61.03%
• YTD: 74.43%
• 1Y: 117.47%
• 3Y*: 49.64%
• 5Y*: 31.46%
• 10Y*: —

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

SPMV vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	18.78%	10.28%	-10.84%	13.24%
SOXQ Invesco PHLX Semiconductor ETF	74.43%	43.11%	20.16%	66.74%	-35.59%	25.19%

Correlation

The correlation between SPMV and SOXQ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	0.55

Over the past year, the correlation between SPMV and SOXQ has dropped to 0.28 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

SPMV vs. SOXQ - Sectors Allocation Comparison

Sectors	SPMV	SOXQ
Technology	26.9%	100.0%
Financial Services	17.8%	0.1%
Healthcare	15.0%	-
Consumer Defensive	10.7%	-
Consumer Cyclical	6.6%	-
Communication Services	6.5%	-
Industrials	6.0%	-
Energy	4.8%	-
Utilities	2.8%	-
Basic Materials	2.6%	-
Real Estate	0.2%	-

Return for Risk

SPMV vs. SOXQ — Risk / Return Rank

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

SPMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SOXQ

SOXQ Risk / Return Rank: 92
SOXQ Sharpe Ratio Rank: 94
SOXQ Sortino Ratio Rank: 86
SOXQ Omega Ratio Rank: 88
SOXQ Calmar Ratio Rank: 96
SOXQ Martin Ratio Rank: 95

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.

SPMV vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) 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.

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.

	SPMV	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.87	—
Sortino ratio: Return per unit of downside risk	—	3.07	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	7.42	—
Martin ratio: Return relative to average drawdown	—	23.55	—

Drawdowns

Drawdown Indicators

	SPMV	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-46.01%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-15.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-39.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.01%	—
Current Drawdown Current decline from peak	—	-15.65%	—
Average Drawdown Average peak-to-trough decline	—	-12.84%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.01%	—

Volatility

Volatility by Period

	SPMV	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	21.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	35.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	41.31%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	37.85%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	37.61%	—

SPMV vs. SOXQ - Expense Ratio Comparison

SPMV has a 0.10% 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

SPMV vs. SOXQ - Dividend Comparison

SPMV has not paid dividends to shareholders, while SOXQ's dividend yield for the trailing twelve months is around 0.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXQ Invesco PHLX Semiconductor ETF	0.29%	0.50%	0.68%	0.87%	1.36%	0.72%	0.00%	0.00%	0.00%	0.00%
SPMV Invesco S&P 500 Minimum Variance ETF	1.05%	1.53%	1.53%	2.28%	1.79%	1.28%	1.71%	3.13%	2.11%	1.72%

Frequently Asked Questions

Can I hold both SPMV and SOXQ in my portfolio?

SPMV and SOXQ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPMV or SOXQ?

On fees, SPMV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPMV or SOXQ?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.19% for SOXQ.

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

SPMV has the higher dividend yield at 1.05%, compared with 0.29% for SOXQ.

What is the main difference between SPMV and SOXQ?

SPMV is categorized as S&P 500, while SOXQ is Semiconductors. SPMV tracks S&P 500 Minimum Volatility Index, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.10% for SPMV and 0.19% for SOXQ.