AIRR vs. AIPO

Last updated Aug 2, 2026

AIRR (First Trust RBA American Industrial Renaissance ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while AIPO is a Artificial Intelligence fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. Over the past year, AIRR returned 37.54% vs 42.03% for AIPO. Their 0.78 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.69% expense ratio.

Performance

AIRR vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RBA American Industrial Renaissance ETF (AIRR) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRR achieves a 19.12% return, which is significantly lower than AIPO's 29.43% return.

AIRR

• 1D: 1.59%
• 1M: -7.04%
• 6M: 6.28%
• YTD: 19.12%
• 1Y: 37.54%
• 3Y*: 29.02%
• 5Y*: 23.37%
• 10Y*: 20.11%
• ALL TIME*: 15.59%

AIPO

• 1D: 0.63%
• 1M: -7.73%
• 6M: 16.62%
• YTD: 29.43%
• 1Y: 42.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 40.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIPO Defiance AI & Power Infrastructure ETF	$40.86M	$38.41M	$47.30M
AIRR First Trust RBA American Industrial Renaissance ETF	$86.28M	$88.15M	$93.52M

AIRR vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
AIRR First Trust RBA American Industrial Renaissance ETF	19.12%	14.49%
AIPO Defiance AI & Power Infrastructure ETF	29.43%	9.46%

Correlation

The correlation between AIRR and AIPO is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.78

The correlation between AIRR and AIPO has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

AIRR vs. AIPO - Sectors Allocation Comparison

Sectors	AIRR	AIPO
Industrials	77.6%	58.0%
Financial Services	12.1%	2.9%
Basic Materials	3.4%	-
Technology	3.4%	15.7%
Consumer Cyclical	1.9%	0.7%
Energy	1.7%	6.8%
Communication Services	-	0.5%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	0.9%
Utilities	-	15.3%

Return for Risk

AIRR vs. AIPO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIRR

AIRR Risk / Return Rank: 54
AIRR Sharpe Ratio Rank: 51
AIRR Sortino Ratio Rank: 50
AIRR Omega Ratio Rank: 46
AIRR Calmar Ratio Rank: 57
AIRR Martin Ratio Rank: 64

AIPO

AIPO Risk / Return Rank: 43
AIPO Sharpe Ratio Rank: 42
AIPO Sortino Ratio Rank: 42
AIPO Omega Ratio Rank: 41
AIPO Calmar Ratio Rank: 45
AIPO Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIRR vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	AIRR	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.05	+0.18
Sortino ratio: Return per unit of downside risk	1.77	1.53	+0.24
Omega ratio: Gain probability vs. loss probability	1.21	1.19	+0.02
Calmar ratio: Return relative to maximum drawdown	2.01	1.61	+0.40
Martin ratio: Return relative to average drawdown	7.71	5.40	+2.31

AIRR vs. AIPO - Sharpe Ratio Comparison

The current AIRR Sharpe Ratio is 1.23, which is comparable to the AIPO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of AIRR and AIPO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIRR vs. AIPO - Drawdown Comparison

The maximum AIRR drawdown since its inception was -42.37%, which is greater than AIPO's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for AIRR and AIPO.

Drawdown Indicators

	AIRR	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-42.37%	-24.36%	-18.01%
Max Drawdown (1Y) Largest decline over 1 year	-17.18%	-24.36%	+7.18%
Max Drawdown (3Y) Largest decline over 3 years	-27.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.37%	—	—
Current Drawdown Current decline from peak	-12.16%	-17.66%	+5.50%
Average Drawdown Average peak-to-trough decline	-7.46%	-5.28%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	7.27%	-2.79%

Volatility

AIRR vs. AIPO - Volatility Comparison

The current volatility for First Trust RBA American Industrial Renaissance ETF (AIRR) is 10.08%, while Defiance AI & Power Infrastructure ETF (AIPO) has a volatility of 14.51%. This indicates that AIRR experiences smaller price fluctuations and is considered to be less risky than AIPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRR	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.08%	14.51%	-4.43%
Volatility (6M) Calculated over the trailing 6-month period	22.37%	29.84%	-7.47%
Volatility (1Y) Calculated over the trailing 1-year period	28.07%	37.46%	-9.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.72%	37.20%	-11.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.47%	37.20%	-10.73%

AIRR vs. AIPO - Expense Ratio Comparison

Both AIRR and AIPO have an expense ratio of 0.69%.

Dividends

AIRR vs. AIPO - Dividend Comparison

AIRR's dividend yield for the trailing twelve months is around 0.09%, more than AIPO's 0.01% yield.

Position	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%
AIRR First Trust RBA American Industrial Renaissance ETF	0.09%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%

Frequently Asked Questions

Can I hold both AIRR and AIPO in my portfolio?

AIRR and AIPO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRR or AIPO?

AIPO has higher volatility (14.51%) compared to AIRR (10.08%). In terms of maximum drawdown, AIRR dropped -42.37% vs AIPO's -24.36%.

Which ETF is better, AIRR or AIPO?

On 1-year performance, AIPO leads with 42.03% vs 37.54% for AIRR. Both ETFs have the same 0.69% expense ratio. On volatility, AIRR has been the lower-risk option at 10.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIRR or AIPO?

Over the 1-year period, AIPO has performed better with a 42.03% return vs 37.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIRR or AIPO?

AIRR and AIPO have the same expense ratio: 0.69% per year.

Which ETF pays a higher dividend yield, AIRR or AIPO?

AIRR has the higher dividend yield at 0.09%, compared with 0.01% for AIPO.

What is the main difference between AIRR and AIPO?

AIRR is categorized as Building & Construction, while AIPO is Artificial Intelligence. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index. They also come from different issuers: First Trust and Defiance.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (1.23 vs 1.05), 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.