ENVX vs. AIQ
ENVX (Enovix Corp) is a stock, while AIQ (Global X Artificial Intelligence & Technology ETF) is Technology Equities fund tracking the Indxx Artificial Intelligence & Big Data Index. Over the past 3 years, ENVX returned -21.04%/yr vs 32.44%/yr for AIQ. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
ENVX vs. AIQ - Performance Comparison
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Returns By Period
In the year-to-date period, ENVX achieves a -18.74% return, which is significantly lower than AIQ's 24.64% return.
ENVX
- 1D
- -6.16%
- 1M
- -11.08%
- YTD
- -18.74%
- 6M
- -28.17%
- 1Y
- -21.06%
- 3Y*
- -21.04%
- 5Y*
- —
- 10Y*
- —
AIQ
- 1D
- 0.06%
- 1M
- 0.92%
- YTD
- 24.64%
- 6M
- 23.32%
- 1Y
- 47.37%
- 3Y*
- 32.44%
- 5Y*
- 16.04%
- 10Y*
- —
ENVX vs. AIQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ENVX Enovix Corp | -18.74% | -23.14% | -13.18% | 0.64% | -54.40% | 26.88% |
AIQ Global X Artificial Intelligence & Technology ETF | 24.64% | 31.89% | 24.11% | 55.39% | -36.44% | 3.66% |
Correlation
The correlation between ENVX and AIQ is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2021 | 0.54 |
The correlation between ENVX and AIQ has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
ENVX vs. AIQ — Risk / Return Rank
ENVX
AIQ
ENVX vs. AIQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enovix Corp (ENVX) and Global X Artificial Intelligence & Technology ETF (AIQ). 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.
| ENVX | AIQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.32 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 2.89 | -3.19 |
| Martin ratioReturn relative to average drawdown | -0.43 | 9.23 | -9.66 |
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Drawdowns
ENVX vs. AIQ - Drawdown Comparison
The maximum ENVX drawdown since its inception was -84.76%, which is greater than AIQ's maximum drawdown of -44.66%. Use the drawdown chart below to compare losses from any high point for ENVX and AIQ.
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Drawdown Indicators
| ENVX | AIQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.76% | -44.66% | -40.10% |
Max Drawdown (1Y)Largest decline over 1 year | -69.62% | -16.47% | -53.15% |
Max Drawdown (3Y)Largest decline over 3 years | -75.42% | -26.35% | -49.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.66% | — |
Current DrawdownCurrent decline from peak | -81.05% | -9.62% | -71.43% |
Average DrawdownAverage peak-to-trough decline | -63.06% | -9.78% | -53.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.56% | 5.15% | +43.41% |
Volatility
ENVX vs. AIQ - Volatility Comparison
Enovix Corp (ENVX) has a higher volatility of 28.84% compared to Global X Artificial Intelligence & Technology ETF (AIQ) at 15.09%. This indicates that ENVX's price experiences larger fluctuations and is considered to be riskier than AIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENVX | AIQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.84% | 15.09% | +13.75% |
Volatility (6M)Calculated over the trailing 6-month period | 59.21% | 22.62% | +36.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.25% | 26.52% | +62.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.89% | 26.01% | +67.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.89% | 25.84% | +68.05% |
Dividends
ENVX vs. AIQ - Dividend Comparison
ENVX has not paid dividends to shareholders, while AIQ's dividend yield for the trailing twelve months is around 0.15%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AIQ Global X Artificial Intelligence & Technology ETF | 0.15% | 0.18% | 0.14% | 0.16% | 0.56% | 0.15% | 0.50% | 0.51% | 0.51% |
ENVX Enovix Corp | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ENVX and AIQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENVX has higher volatility (28.84%) compared to AIQ (15.09%). In terms of maximum drawdown, ENVX dropped -84.76% vs AIQ's -44.66%.
AIQ currently has the higher Sharpe Ratio (1.80 vs -0.24), 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.
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