DFNV vs. PSI

Last updated Apr 1, 2026

Compare and contrast key facts about TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) and Invesco Semiconductors ETF (PSI).

DFNV and PSI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFNV is a passively managed fund by TrimTabs that tracks the performance of the TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index. It was launched on Dec 8, 2020. PSI is a passively managed fund by Invesco that tracks the performance of the Dynamic Semiconductors Intellidex Index. It was launched on Jun 23, 2005. Both DFNV and PSI 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

DFNV vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

DFNV vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	-15.04%	8.42%	31.93%	26.92%	-24.05%	18.51%	2.92%
PSI Invesco Semiconductors ETF	19.68%	36.32%	17.17%	49.06%	-34.43%	46.55%	-0.26%

Returns By Period

In the year-to-date period, DFNV achieves a -15.04% return, which is significantly lower than PSI's 19.68% return.

DFNV

• 1D: 2.55%
• 1M: -3.84%
• YTD: -15.04%
• 6M: -17.93%
• 1Y: -2.08%
• 3Y*: 13.16%
• 5Y*: 6.22%
• 10Y*: —

PSI

• 1D: 6.62%
• 1M: -4.66%
• YTD: 19.68%
• 6M: 34.22%
• 1Y: 99.43%
• 3Y*: 32.09%
• 5Y*: 17.89%
• 10Y*: 27.52%

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

DFNV vs. PSI - Expense Ratio Comparison

DFNV has a 0.69% expense ratio, which is higher than PSI's 0.56% expense ratio.

DFNV

TrimTabs Donoghue Forlines Risk Managed Innovation ETF

PSI

Invesco Semiconductors ETF

Return for Risk

DFNV vs. PSI — Risk / Return Rank

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

DFNV

DFNV Risk / Return Rank: 10
DFNV Sharpe Ratio Rank: 10
DFNV Sortino Ratio Rank: 10
DFNV Omega Ratio Rank: 10
DFNV Calmar Ratio Rank: 10
DFNV Martin Ratio Rank: 10

PSI

PSI Risk / Return Rank: 95
PSI Sharpe Ratio Rank: 95
PSI Sortino Ratio Rank: 94
PSI Omega Ratio Rank: 92
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.

DFNV vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) 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.

	DFNV	PSI	Difference
Sharpe ratio Return per unit of total volatility	-0.10	2.29	-2.39
Sortino ratio Return per unit of downside risk	0.01	2.79	-2.78
Omega ratio Gain probability vs. loss probability	1.00	1.39	-0.39
Calmar ratio Return relative to maximum drawdown	-0.10	5.26	-5.36
Martin ratio Return relative to average drawdown	-0.29	19.05	-19.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFNV vs. PSI - Sharpe Ratio Comparison

The current DFNV Sharpe Ratio is -0.10, which is lower than the PSI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of DFNV and PSI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFNV	PSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	2.29	-2.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.48	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.50	-0.14

Correlation

The correlation between DFNV and PSI is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFNV vs. PSI - Dividend Comparison

DFNV's dividend yield for the trailing twelve months is around 0.44%, more than PSI's 0.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	0.44%	0.38%	1.28%	0.77%	1.20%	4.77%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
PSI Invesco Semiconductors ETF	0.08%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%

Drawdowns

DFNV vs. PSI - Drawdown Comparison

The maximum DFNV drawdown since its inception was -29.71%, smaller than the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for DFNV and PSI.

Drawdown Indicators

	DFNV	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-29.71%	-62.96%	+33.25%
Max Drawdown (1Y) Largest decline over 1 year	-21.54%	-18.67%	-2.87%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-44.85%	+15.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.85%	—
Current Drawdown Current decline from peak	-18.92%	-9.88%	-9.04%
Average Drawdown Average peak-to-trough decline	-9.41%	-16.05%	+6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.45%	5.15%	+2.30%

Volatility

DFNV vs. PSI - Volatility Comparison

The current volatility for TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) is 6.11%, while Invesco Semiconductors ETF (PSI) has a volatility of 16.03%. This indicates that DFNV experiences smaller price fluctuations and is considered to be less risky than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFNV	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	16.03%	-9.92%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	29.69%	-16.69%
Volatility (1Y) Calculated over the trailing 1-year period	21.67%	43.61%	-21.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.44%	37.38%	-17.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	34.66%	-15.02%