BKCH vs. PSI

Last updated Jun 5, 2026

BKCH (Global X Blockchain ETF) and PSI (Invesco Semiconductors ETF) are both exchange-traded funds - BKCH is a Technology Equities fund actively managed by Global X, while PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. BKCH is actively managed, while PSI is passively managed. Over the past 3 years, BKCH returned 58.43%/yr vs 57.17%/yr for PSI. A 0.57 correlation means they provide meaningful diversification when combined. BKCH charges 0.50%/yr vs 0.56%/yr for PSI.

Performance

BKCH vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Blockchain ETF (BKCH) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BKCH achieves a 36.44% return, which is significantly lower than PSI's 104.81% return.

BKCH

• 1D: -1.46%
• 1M: 5.62%
• YTD: 36.44%
• 6M: 9.64%
• 1Y: 86.50%
• 3Y*: 58.43%
• 5Y*: —
• 10Y*: —

PSI

• 1D: -1.40%
• 1M: 15.64%
• YTD: 104.81%
• 6M: 101.91%
• 1Y: 200.06%
• 3Y*: 57.17%
• 5Y*: 31.49%
• 10Y*: 34.03%

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

BKCH vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BKCH Global X Blockchain ETF	36.44%	27.14%	18.81%	267.06%	-85.10%	-1.24%
PSI Invesco Semiconductors ETF	104.81%	36.32%	17.17%	49.06%	-34.43%	24.78%

Correlation

The correlation between BKCH and PSI is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021	0.57

The correlation between BKCH and PSI has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.

Return for Risk

BKCH vs. PSI — Risk / Return Rank

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

BKCH

BKCH Risk / Return Rank: 32
BKCH Sharpe Ratio Rank: 36
BKCH Sortino Ratio Rank: 37
BKCH Omega Ratio Rank: 34
BKCH Calmar Ratio Rank: 32
BKCH Martin Ratio Rank: 23

PSI

PSI Risk / Return Rank: 96
PSI Sharpe Ratio Rank: 98
PSI Sortino Ratio Rank: 94
PSI Omega Ratio Rank: 94
PSI Calmar Ratio Rank: 98
PSI Martin Ratio Rank: 97

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.

BKCH vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain ETF (BKCH) and Invesco Semiconductors ETF (PSI). 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.

	BKCH	PSI	Difference
Sharpe ratio: Return per unit of total volatility	1.25	5.34	-4.09
Sortino ratio: Return per unit of downside risk	1.88	4.97	-3.09
Omega ratio: Gain probability vs. loss probability	1.22	1.67	-0.45
Calmar ratio: Return relative to maximum drawdown	1.55	13.01	-11.47
Martin ratio: Return relative to average drawdown	2.86	47.17	-44.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BKCH vs. PSI - Sharpe Ratio Comparison

The current BKCH Sharpe Ratio is 1.25, which is lower than the PSI Sharpe Ratio of 5.34. The chart below compares the historical Sharpe Ratios of BKCH and PSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BKCH	PSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	5.34	-4.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.59	-0.56

Drawdowns

BKCH vs. PSI - Drawdown Comparison

The maximum BKCH drawdown since its inception was -91.80%, which is greater than PSI's maximum drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for BKCH and PSI.

Drawdown Indicators

	BKCH	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-91.80%	-62.96%	-28.84%
Max Drawdown (1Y) Largest decline over 1 year	-56.28%	-15.48%	-40.80%
Max Drawdown (3Y) Largest decline over 3 years	-57.99%	-41.07%	-16.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-44.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.85%	—
Current Drawdown Current decline from peak	-34.59%	-1.40%	-33.19%
Average Drawdown Average peak-to-trough decline	-62.10%	-15.93%	-46.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.30%	4.26%	+26.04%

Volatility

BKCH vs. PSI - Volatility Comparison

Global X Blockchain ETF (BKCH) has a higher volatility of 17.28% compared to Invesco Semiconductors ETF (PSI) at 13.55%. This indicates that BKCH's price experiences larger fluctuations and is considered to be riskier than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BKCH	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.28%	13.55%	+3.73%
Volatility (6M) Calculated over the trailing 6-month period	51.28%	30.12%	+21.16%
Volatility (1Y) Calculated over the trailing 1-year period	69.80%	37.72%	+32.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.40%	37.84%	+37.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.40%	35.09%	+40.31%

BKCH vs. PSI - Expense Ratio Comparison

BKCH has a 0.50% expense ratio, which is lower than PSI's 0.56% expense ratio.

Dividends

BKCH vs. PSI - Dividend Comparison

BKCH's dividend yield for the trailing twelve months is around 1.47%, more than PSI's 0.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKCH Global X Blockchain ETF	1.47%	2.00%	7.61%	2.33%	1.29%	4.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSI Invesco Semiconductors ETF	0.05%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%

Frequently Asked Questions

Can I hold both BKCH and PSI in my portfolio?

BKCH and PSI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKCH or PSI?

BKCH has higher volatility (17.28%) compared to PSI (13.55%). In terms of maximum drawdown, BKCH dropped -91.80% vs PSI's -62.96%.

Which ETF is better, BKCH or PSI?

On 3-year performance, BKCH leads with 58.43% vs 57.17% for PSI. On fees, BKCH is cheaper at 0.50% per year. On volatility, PSI has been the lower-risk option at 13.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BKCH or PSI?

Over the 3-year period, BKCH has performed better with a 58.43% return vs 57.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BKCH or PSI?

BKCH is cheaper with a 0.50% expense ratio, compared with 0.56% for PSI.

Which ETF pays a higher dividend yield, BKCH or PSI?

BKCH has the higher dividend yield at 1.47%, compared with 0.05% for PSI.

What is the main difference between BKCH and PSI?

BKCH is categorized as Technology Equities, while PSI is Semiconductors. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for BKCH and 0.56% for PSI.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (5.34 vs 1.25), 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.