ENVX vs. AIQ

Last updated Jun 5, 2026

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 -10.01%/yr vs 36.88%/yr for AIQ. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

ENVX vs. AIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enovix Corp (ENVX) and Global X Artificial Intelligence & Technology ETF (AIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENVX achieves a 14.36% return, which is significantly lower than AIQ's 33.84% return.

ENVX

• 1D: 1.58%
• 1M: 21.51%
• YTD: 14.36%
• 6M: -8.03%
• 1Y: 13.07%
• 3Y*: -10.01%
• 5Y*: —
• 10Y*: —

AIQ

• 1D: -1.58%
• 1M: 16.50%
• YTD: 33.84%
• 6M: 33.72%
• 1Y: 64.95%
• 3Y*: 36.88%
• 5Y*: 18.69%
• 10Y*: —

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

ENVX vs. AIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ENVX Enovix Corp	14.36%	-23.14%	-13.18%	0.64%	-54.40%	53.86%
AIQ Global X Artificial Intelligence & Technology ETF	33.84%	31.89%	24.11%	55.39%	-36.44%	4.72%

Correlation

The correlation between ENVX and AIQ is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021	0.53

The correlation between ENVX and AIQ has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.

Return for Risk

ENVX vs. AIQ — Risk / Return Rank

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

ENVX

ENVX Risk / Return Rank: 48
ENVX Sharpe Ratio Rank: 47
ENVX Sortino Ratio Rank: 51
ENVX Omega Ratio Rank: 50
ENVX Calmar Ratio Rank: 46
ENVX Martin Ratio Rank: 45

AIQ

AIQ Risk / Return Rank: 79
AIQ Sharpe Ratio Rank: 86
AIQ Sortino Ratio Rank: 79
AIQ Omega Ratio Rank: 78
AIQ Calmar Ratio Rank: 79
AIQ Martin Ratio Rank: 74

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.

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.

	ENVX	AIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.15	2.83	-2.68
Sortino ratio: Return per unit of downside risk	0.86	3.52	-2.66
Omega ratio: Gain probability vs. loss probability	1.11	1.46	-0.35
Calmar ratio: Return relative to maximum drawdown	0.19	3.96	-3.77
Martin ratio: Return relative to average drawdown	0.28	13.69	-13.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENVX vs. AIQ - Sharpe Ratio Comparison

The current ENVX Sharpe Ratio is 0.15, which is lower than the AIQ Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of ENVX and AIQ, 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

	ENVX	AIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	2.83	-2.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.83	-0.96

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.

Drawdown Indicators

	ENVX	AIQ	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-73.33%	-2.95%	-70.38%
Average Drawdown Average peak-to-trough decline	-62.53%	-9.79%	-52.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.77%	4.76%	+42.01%

Volatility

ENVX vs. AIQ - Volatility Comparison

Enovix Corp (ENVX) has a higher volatility of 28.99% compared to Global X Artificial Intelligence & Technology ETF (AIQ) at 8.82%. 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.

Volatility by Period

	ENVX	AIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.99%	8.82%	+20.17%
Volatility (6M) Calculated over the trailing 6-month period	57.31%	18.55%	+38.76%
Volatility (1Y) Calculated over the trailing 1-year period	87.10%	23.11%	+63.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.44%	25.34%	+68.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.44%	25.50%	+67.94%

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 0.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AIQ Global X Artificial Intelligence & Technology ETF	0.14%	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

Can I hold both ENVX and AIQ in my portfolio?

ENVX and AIQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENVX or AIQ?

ENVX has higher volatility (28.99%) compared to AIQ (8.82%). In terms of maximum drawdown, ENVX dropped -84.76% vs AIQ's -44.66%.

Which has better risk-adjusted returns?

AIQ currently has the higher Sharpe Ratio (2.83 vs 0.15), 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.