Invesco PHLX Semiconductor ETF

Invesco PHLX Semiconductor ETF (SOXQ) is an index fund that holds the 30 largest US-listed semiconductor companies in the PHLX Semiconductor Index, led by Micron, NVIDIA and Broadcom. What sets it apart is cost: its 0.19% expense ratio is about half the 0.38% average of similar funds and below the 0.35% charged by iShares Semiconductor ETF (SOXX), whose holdings overlap 82%. The trade-off is heavy concentration in one volatile industry.

• Over the year to Oct 27, 2026, SOXQ returned +60.9%, 4th of 9 among similar funds.
• Its worst full calendar year was 2024 (+20.2%); its best was 2023 (+66.8%).
• The deepest fall in its price history was 39.4% (Jul 10, 2024 to Apr 8, 2025), recovered by Aug 13, 2025.

As of Aug 31, 2026, the fund held 30 securities; the ten largest made up 63.07% of assets.

By sector

• Over the three months to Aug 31, 2026, investors added a net $831.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +11.09%, -20.59%, +1.99%.

SOXQ aims to track the PHLX Semiconductor Index, which Nasdaq compiles. The index measures the 30 largest US-listed companies that design, distribute, make or sell semiconductors, including memory chips, microprocessors, integrated circuits and chipmaking equipment. To qualify, a company must be in the semiconductors or production technology equipment subsector of the Industry Classification Benchmark. It must also be worth at least $100 million, have traded at least 1.5 million shares in each of the prior six months, and be listed on Nasdaq, the NYSE, NYSE American or Cboe. Foreign firms can qualify through American Depositary Receipts (ADRs), which are US-traded shares that stand for a non-US stock, such as Taiwan Semiconductor Manufacturing.

The index is modified market-cap weighted. That means bigger companies get bigger weights, with adjustments set by the index rules. Invesco uses full replication: it owns every stock in the index in roughly the same proportions and puts at least 90% of total assets in index securities. The fund uses no leverage or options, and it held no derivatives as of May 31, 2026. Portfolio turnover was 24%.

The fund is non-diversified and must put more than 25% of its assets in semiconductor companies. As of May 31, 2026, its 10 largest holdings made up 63% of assets, led by Micron (11.8%), NVIDIA (8.9%) and Broadcom (8.7%). Big moves in a few stocks can swing the whole fund.

• SOXQ charges 0.19% a year, versus an average of 0.4% for the similar funds below (3rd of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $242 over 10 years (assuming a 5% annual return).

SOXQ is a concentrated bet on one cyclical industry that has seen deep, fast losses, so it fits best as a small add-on to a broader core.

SOXQ adds growth exposure to chipmakers, not income. Its trailing 12-month yield was 0.32% as of October 27, 2026, paid quarterly. The fund launched in June 2021, so it has no record from the 2008 crisis or the 2020 crash. It lost 35.01% in 2022, including a 25.18% drop in the quarter ended June 30, 2022. Its deepest drop in price data starting October 2022 was 39.4%, from July 10, 2024 to April 8, 2025. It got back to its old high on August 13, 2025. Anyone forced to raise cash near that low would have locked in steep losses. Volatility over the year to October 27, 2026 was 45.4%. The cost is low: about $19 in the first year on $10,000, under the SEC's standard example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.