AIPO vs. VAW

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance AI & Power Infrastructure ETF (AIPO) and Vanguard Materials ETF (VAW).

AIPO and VAW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AIPO is a passively managed fund by Defiance that tracks the performance of the MarketVector™ US Listed AI and Power Infrastructure Index. It was launched on Jul 24, 2025. VAW is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Materials 25/50 Index. It was launched on Jan 26, 2004. Both AIPO and VAW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AIPO vs. VAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance AI & Power Infrastructure ETF (AIPO) and Vanguard Materials ETF (VAW). The values are adjusted to include any dividend payments, if applicable.

AIPO vs. VAW - Yearly Performance Comparison

	2026 (YTD)	2025
AIPO Defiance AI & Power Infrastructure ETF	12.84%	8.68%
VAW Vanguard Materials ETF	8.97%	2.18%

Returns By Period

In the year-to-date period, AIPO achieves a 12.84% return, which is significantly higher than VAW's 8.97% return.

AIPO

• 1D: 4.70%
• 1M: -4.73%
• YTD: 12.84%
• 6M: 10.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VAW

• 1D: 2.34%
• 1M: -7.36%
• YTD: 8.97%
• 6M: 10.84%
• 1Y: 21.22%
• 3Y*: 10.04%
• 5Y*: 7.09%
• 10Y*: 10.55%

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

AIPO vs. VAW - Expense Ratio Comparison

AIPO has a 0.69% expense ratio, which is higher than VAW's 0.10% expense ratio.

AIPO

Defiance AI & Power Infrastructure ETF

VAW

Vanguard Materials ETF

Return for Risk

AIPO vs. VAW — Risk / Return Rank

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

VAW

VAW Risk / Return Rank: 60
VAW Sharpe Ratio Rank: 59
VAW Sortino Ratio Rank: 62
VAW Omega Ratio Rank: 55
VAW Calmar Ratio Rank: 65
VAW Martin Ratio Rank: 59

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.

AIPO vs. VAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance AI & Power Infrastructure ETF (AIPO) and Vanguard Materials ETF (VAW). 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.

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

Sharpe Ratios by Period

	AIPO	VAW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.00	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.39	+0.65

Correlation

The correlation between AIPO and VAW is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AIPO vs. VAW - Dividend Comparison

AIPO's dividend yield for the trailing twelve months is around 0.01%, less than VAW's 1.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VAW Vanguard Materials ETF	1.41%	1.55%	1.70%	1.72%	1.98%	1.44%	1.67%	1.94%	2.03%	1.63%	1.67%	2.30%

Drawdowns

AIPO vs. VAW - Drawdown Comparison

The maximum AIPO drawdown since its inception was -17.31%, smaller than the maximum VAW drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for AIPO and VAW.

Drawdown Indicators

	AIPO	VAW	Difference
Max Drawdown Largest peak-to-trough decline	-17.31%	-62.17%	+44.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.33%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-7.04%	-7.36%	+0.32%
Average Drawdown Average peak-to-trough decline	-5.03%	-9.67%	+4.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.15%	—

Volatility

Volatility by Period

	AIPO	VAW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.05%	21.39%	+12.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.05%	19.56%	+14.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.05%	21.14%	+12.91%