SQY vs. SOXQ

Last updated Jun 4, 2026

SQY (YieldMax SQ Option Income Strategy ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - SQY is a Derivative Income fund actively managed by YieldMax, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. SQY is actively managed, while SOXQ is passively managed. Over the past year, SQY returned -0.20% vs 181.76% for SOXQ. At a 0.39 correlation, their price movements are largely independent. SQY charges 1.01%/yr vs 0.19%/yr for SOXQ.

Performance

SQY vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SQ Option Income Strategy ETF (SQY) 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, SQY achieves a -1.01% return, which is significantly lower than SOXQ's 96.72% return.

SQY

• 1D: -5.22%
• 1M: -4.39%
• YTD: -1.01%
• 6M: 6.08%
• 1Y: -0.20%
• 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)

SQY vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SQY YieldMax SQ Option Income Strategy ETF	-1.01%	-29.43%	21.72%	44.45%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	18.10%

Correlation

The correlation between SQY 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 (All Time) Calculated using the full available price history since Oct 12, 2023	0.39

The correlation between SQY and SOXQ shifts across timeframes, from 0.28 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SQY vs. SOXQ — Risk / Return Rank

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

SQY

SQY Risk / Return Rank: 9
SQY Sharpe Ratio Rank: 8
SQY Sortino Ratio Rank: 9
SQY Omega Ratio Rank: 10
SQY Calmar Ratio Rank: 9
SQY Martin Ratio Rank: 9

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.

SQY vs. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SQ Option Income Strategy ETF (SQY) 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.

	SQY	SOXQ	Difference
Sharpe ratio Return per unit of total volatility	-0.01	5.43	-5.43
Sortino ratio Return per unit of downside risk	0.26	5.22	-4.96
Omega ratio Gain probability vs. loss probability	1.03	1.72	-0.69
Calmar ratio Return relative to maximum drawdown	-0.01	11.73	-11.74
Martin ratio Return relative to average drawdown	-0.01	45.01	-45.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SQY vs. SOXQ - Sharpe Ratio Comparison

The current SQY Sharpe Ratio is -0.01, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of SQY 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

	SQY	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	5.43	-5.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.98	-0.79

Drawdowns

SQY vs. SOXQ - Drawdown Comparison

The maximum SQY drawdown since its inception was -52.30%, which is greater than SOXQ's maximum drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for SQY and SOXQ.

Drawdown Indicators

	SQY	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-52.30%	-46.01%	-6.29%
Max Drawdown (1Y) Largest decline over 1 year	-37.72%	-15.59%	-22.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-39.36%	—
Current Drawdown Current decline from peak	-37.84%	0.00%	-37.84%
Average Drawdown Average peak-to-trough decline	-21.82%	-12.96%	-8.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.18%	4.06%	+13.12%

Volatility

SQY vs. SOXQ - Volatility Comparison

The current volatility for YieldMax SQ Option Income Strategy ETF (SQY) is 10.82%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that SQY 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

	SQY	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.82%	13.44%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	31.08%	26.70%	+4.38%
Volatility (1Y) Calculated over the trailing 1-year period	38.83%	33.78%	+5.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.20%	36.38%	+5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.20%	36.38%	+5.82%

SQY vs. SOXQ - Expense Ratio Comparison

SQY has a 1.01% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

SQY vs. SOXQ - Dividend Comparison

SQY's dividend yield for the trailing twelve months is around 109.42%, more than SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%
SQY YieldMax SQ Option Income Strategy ETF	109.42%	95.35%	62.54%	9.85%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SQY and SOXQ in my portfolio?

SQY 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 is riskier, SQY or SOXQ?

SOXQ has higher volatility (13.44%) compared to SQY (10.82%). In terms of maximum drawdown, SQY dropped -52.30% vs SOXQ's -46.01%.

Which ETF is better, SQY or SOXQ?

On 1-year performance, SOXQ leads with 181.76% vs -0.20% for SQY. On fees, SOXQ is cheaper at 0.19% per year. On volatility, SQY has been the lower-risk option at 10.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQY or SOXQ?

Over the 1-year period, SOXQ has performed better with a 181.76% return vs -0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQY or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 1.01% for SQY.

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

SQY has the higher dividend yield at 109.42%, compared with 0.26% for SOXQ.

What is the main difference between SQY and SOXQ?

SQY is categorized as Derivative Income, while SOXQ is Semiconductors. They also come from different issuers: YieldMax and Invesco. Their fees differ too: 1.01% for SQY and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs -0.01), 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.