BAI vs. CHAT

Last updated Jun 23, 2026

BAI (iShares A.I. Innovation and Tech Active ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both Technology Equities funds. Both are actively managed. Over the past year, BAI returned 104.79% vs 132.50% for CHAT. Their correlation of 0.91 suggests significant overlap in exposure. BAI charges 0.55%/yr vs 0.75%/yr for CHAT.

Performance

BAI vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares A.I. Innovation and Tech Active ETF (BAI) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAI achieves a 62.85% return, which is significantly lower than CHAT's 76.51% return.

BAI

• 1D: 1.94%
• 1M: 13.43%
• YTD: 62.85%
• 6M: 60.92%
• 1Y: 104.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHAT

• 1D: 1.69%
• 1M: 15.84%
• YTD: 76.51%
• 6M: 76.39%
• 1Y: 132.50%
• 3Y*: 55.25%
• 5Y*: —
• 10Y*: —

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

BAI vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BAI iShares A.I. Innovation and Tech Active ETF	62.85%	25.22%	8.89%
CHAT Roundhill Generative AI & Technology ETF	76.51%	49.85%	4.09%

Correlation

The correlation between BAI and CHAT is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.91

The correlation between BAI and CHAT has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

BAI vs. CHAT - Sectors Allocation Comparison

Sectors	BAI	CHAT
Technology	88.8%	77.8%
Industrials	4.6%	3.5%
Communication Services	3.9%	16.1%
Consumer Cyclical	2.6%	2.4%
Healthcare	0.7%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

BAI vs. CHAT — Risk / Return Rank

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

BAI

BAI Risk / Return Rank: 84
BAI Sharpe Ratio Rank: 90
BAI Sortino Ratio Rank: 76
BAI Omega Ratio Rank: 78
BAI Calmar Ratio Rank: 94
BAI Martin Ratio Rank: 85

CHAT

CHAT Risk / Return Rank: 93
CHAT Sharpe Ratio Rank: 96
CHAT Sortino Ratio Rank: 91
CHAT Omega Ratio Rank: 90
CHAT Calmar Ratio Rank: 96
CHAT Martin Ratio Rank: 93

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.

BAI vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares A.I. Innovation and Tech Active ETF (BAI) and Roundhill Generative AI & Technology ETF (CHAT). 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.

	BAI	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	2.90	3.92	-1.02
Sortino ratio: Return per unit of downside risk	3.22	4.05	-0.83
Omega ratio: Gain probability vs. loss probability	1.44	1.56	-0.12
Calmar ratio: Return relative to maximum drawdown	6.50	8.19	-1.69
Martin ratio: Return relative to average drawdown	17.20	22.77	-5.57

BAI vs. CHAT - Sharpe Ratio Comparison

The current BAI Sharpe Ratio is 2.90, which is comparable to the CHAT Sharpe Ratio of 3.92. The chart below compares the historical Sharpe Ratios of BAI and CHAT, 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

BAI vs. CHAT - Drawdown Comparison

The maximum BAI drawdown since its inception was -34.09%, which is greater than CHAT's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for BAI and CHAT.

Drawdown Indicators

	BAI	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-34.09%	-31.34%	-2.75%
Max Drawdown (1Y) Largest decline over 1 year	-16.22%	-16.28%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.34%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.87%	-5.38%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	5.84%	+0.28%

Volatility

BAI vs. CHAT - Volatility Comparison

iShares A.I. Innovation and Tech Active ETF (BAI) and Roundhill Generative AI & Technology ETF (CHAT) have volatilities of 18.06% and 17.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAI	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.06%	17.40%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	30.25%	28.49%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	36.45%	34.07%	+2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.90%	30.94%	+5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.90%	30.94%	+5.96%

BAI vs. CHAT - Expense Ratio Comparison

BAI has a 0.55% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

BAI vs. CHAT - Dividend Comparison

BAI's dividend yield for the trailing twelve months is around 1.09%, less than CHAT's 1.62% yield.

Position	TTM	2025
BAI iShares A.I. Innovation and Tech Active ETF	1.09%	1.80%
CHAT Roundhill Generative AI & Technology ETF	1.62%	2.85%

Frequently Asked Questions

Can I hold both BAI and CHAT in my portfolio?

BAI and CHAT have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAI or CHAT?

BAI has higher volatility (18.06%) compared to CHAT (17.40%). In terms of maximum drawdown, BAI dropped -34.09% vs CHAT's -31.34%.

Which ETF is better, BAI or CHAT?

On 1-year performance, CHAT leads with 132.50% vs 104.79% for BAI. On fees, BAI is cheaper at 0.55% per year. On volatility, CHAT has been the lower-risk option at 17.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BAI or CHAT?

Over the 1-year period, CHAT has performed better with a 132.50% return vs 104.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BAI or CHAT?

BAI is cheaper with a 0.55% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, BAI or CHAT?

CHAT has the higher dividend yield at 1.62%, compared with 1.09% for BAI.

What is the main difference between BAI and CHAT?

They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.55% for BAI and 0.75% for CHAT.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (3.92 vs 2.90), 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.