FINX vs. IPAY

Last updated Jun 4, 2026

FINX (Global X FinTech ETF) and IPAY (ETFMG Prime Mobile Payments ETF) are both Technology Equities funds - FINX tracks the Indxx Global FinTech Thematic Index while IPAY tracks the Prime Mobile Payments Index. Both are passively managed. Over the past 5 years, FINX returned -10.20%/yr vs -8.70%/yr for IPAY. Their correlation of 0.90 suggests significant overlap in exposure. FINX charges 0.68%/yr vs 0.75%/yr for IPAY.

Performance

FINX vs. IPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X FinTech ETF (FINX) and ETFMG Prime Mobile Payments ETF (IPAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FINX having a -16.28% return and IPAY slightly lower at -16.45%.

FINX

• 1D: -4.72%
• 1M: -5.30%
• YTD: -16.28%
• 6M: -18.85%
• 1Y: -20.58%
• 3Y*: 5.77%
• 5Y*: -10.20%
• 10Y*: —

IPAY

• 1D: -4.17%
• 1M: -9.09%
• YTD: -16.45%
• 6M: -16.03%
• 1Y: -23.21%
• 3Y*: 1.92%
• 5Y*: -8.70%
• 10Y*: 5.98%

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

FINX vs. IPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FINX Global X FinTech ETF	-16.28%	-5.20%	23.02%	33.15%	-51.80%	-9.65%	53.76%	37.52%	0.82%	49.96%
IPAY ETFMG Prime Mobile Payments ETF	-16.45%	-9.55%	25.88%	18.21%	-32.38%	-12.72%	34.22%	41.80%	0.17%	36.34%

Correlation

The correlation between FINX and IPAY 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 (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 14, 2016	0.90

The correlation between FINX and IPAY has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

FINX vs. IPAY - Sectors Allocation Comparison

Sectors	FINX	IPAY
Technology	56.4%	54.6%
Financial Services	38.6%	41.3%
Industrials	3.7%	4.1%
Healthcare	1.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FINX vs. IPAY — Risk / Return Rank

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

FINX

FINX Risk / Return Rank: 3
FINX Sharpe Ratio Rank: 3
FINX Sortino Ratio Rank: 3
FINX Omega Ratio Rank: 3
FINX Calmar Ratio Rank: 4
FINX Martin Ratio Rank: 4

IPAY

IPAY Risk / Return Rank: 2
IPAY Sharpe Ratio Rank: 1
IPAY Sortino Ratio Rank: 2
IPAY Omega Ratio Rank: 2
IPAY Calmar Ratio Rank: 3
IPAY Martin Ratio Rank: 2

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.

FINX vs. IPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X FinTech ETF (FINX) and ETFMG Prime Mobile Payments ETF (IPAY). 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.

	FINX	IPAY	Difference
Sharpe ratio Return per unit of total volatility	-0.70	-0.98	+0.28
Sortino ratio Return per unit of downside risk	-0.83	-1.26	+0.42
Omega ratio Gain probability vs. loss probability	0.90	0.84	+0.06
Calmar ratio Return relative to maximum drawdown	-0.56	-0.74	+0.18
Martin ratio Return relative to average drawdown	-1.09	-1.42	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FINX vs. IPAY - Sharpe Ratio Comparison

The current FINX Sharpe Ratio is -0.70, which is comparable to the IPAY Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of FINX and IPAY, 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

	FINX	IPAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	-0.98	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	-0.34	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.21	0.00

Drawdowns

FINX vs. IPAY - Drawdown Comparison

The maximum FINX drawdown since its inception was -63.53%, which is greater than IPAY's maximum drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for FINX and IPAY.

Drawdown Indicators

	FINX	IPAY	Difference
Max Drawdown Largest peak-to-trough decline	-63.53%	-51.75%	-11.78%
Max Drawdown (1Y) Largest decline over 1 year	-36.58%	-31.31%	-5.27%
Max Drawdown (3Y) Largest decline over 3 years	-36.58%	-32.74%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	-63.53%	-51.49%	-12.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.75%	—
Current Drawdown Current decline from peak	-49.93%	-39.51%	-10.42%
Average Drawdown Average peak-to-trough decline	-24.45%	-16.67%	-7.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.98%	16.32%	+2.66%

Volatility

FINX vs. IPAY - Volatility Comparison

Global X FinTech ETF (FINX) has a higher volatility of 8.15% compared to ETFMG Prime Mobile Payments ETF (IPAY) at 6.51%. This indicates that FINX's price experiences larger fluctuations and is considered to be riskier than IPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FINX	IPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	6.51%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	22.78%	18.19%	+4.59%
Volatility (1Y) Calculated over the trailing 1-year period	29.36%	23.70%	+5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.40%	26.04%	+5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.73%	25.38%	+3.35%

FINX vs. IPAY - Expense Ratio Comparison

FINX has a 0.68% expense ratio, which is lower than IPAY's 0.75% expense ratio.

Dividends

FINX vs. IPAY - Dividend Comparison

FINX's dividend yield for the trailing twelve months is around 0.69%, less than IPAY's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FINX Global X FinTech ETF	0.69%	0.58%	0.72%	0.21%	0.27%	5.40%	0.00%	0.00%	0.18%	0.11%
IPAY ETFMG Prime Mobile Payments ETF	0.94%	0.79%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FINX and IPAY in my portfolio?

FINX and IPAY 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, FINX or IPAY?

FINX has higher volatility (8.15%) compared to IPAY (6.51%). In terms of maximum drawdown, FINX dropped -63.53% vs IPAY's -51.75%.

Which ETF is better, FINX or IPAY?

On 5-year performance, IPAY leads with -8.70% vs -10.20% for FINX. On fees, FINX is cheaper at 0.68% per year. On volatility, IPAY has been the lower-risk option at 6.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FINX or IPAY?

Over the 5-year period, IPAY has performed better with a -8.70% return vs -10.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FINX or IPAY?

FINX is cheaper with a 0.68% expense ratio, compared with 0.75% for IPAY.

Which ETF pays a higher dividend yield, FINX or IPAY?

IPAY has the higher dividend yield at 0.94%, compared with 0.69% for FINX.

What is the main difference between FINX and IPAY?

FINX tracks Indxx Global FinTech Thematic Index, while IPAY tracks Prime Mobile Payments Index. They also come from different issuers: Global X and ETFMG. Their fees differ too: 0.68% for FINX and 0.75% for IPAY.

Which has better risk-adjusted returns?

FINX currently has the higher Sharpe Ratio (-0.70 vs -0.98), 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.