Using picosecond pump-probe measurements, InGaAs/InGaAlAs and InGaAs/I
nGaAsP quantum well modulator structures am compared directly. It is f
ound that the short-pulse exciton saturation intensity for the Al-base
d structure is at least 10 times that for the P-based system. The more
efficient carrier sweep-out observed in the Al-based modulator is due
to the lower valence-band discontinuity, making it by far the more at
tractive structure for high-power application.