FLM vs. AIPO

Last updated Jun 24, 2026

FLM (First Trust Global Engineering and Construction ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both Building & Construction funds - FLM tracks the ISE Global Engineering & Construction Index while AIPO tracks the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. At a 0.31 correlation, their price movements are largely independent. FLM charges 0.70%/yr vs 0.69%/yr for AIPO.

Performance

FLM vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Global Engineering and Construction ETF (FLM) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FLM

• 1D: -4.55%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIPO

• 1D: -4.86%
• 1M: 2.22%
• YTD: 49.55%
• 6M: 45.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLM vs. AIPO - Yearly Performance Comparison

	2026 (YTD)
FLM First Trust Global Engineering and Construction ETF	-4.55%
AIPO Defiance AI & Power Infrastructure ETF	-0.90%

Correlation

The correlation between FLM and AIPO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2026	0.31

FLM vs. AIPO - Sectors Allocation Comparison

Sectors	FLM	AIPO
Industrials	37.1%	46.4%
Energy	8.1%	6.1%
Technology	7.9%	18.9%
Basic Materials	7.4%	-
Real Estate	5.7%	1.0%
Communication Services	0.7%	0.8%
Utilities	0.7%	21.2%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	5.3%
Healthcare	-	-

Return for Risk

FLM vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Engineering and Construction ETF (FLM) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

FLM vs. AIPO - Drawdown Comparison

The maximum FLM drawdown since its inception was -4.55%, smaller than the maximum AIPO drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for FLM and AIPO.

Drawdown Indicators

	FLM	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-4.55%	-17.31%	+12.76%
Current Drawdown Current decline from peak	-4.55%	-4.86%	+0.31%
Average Drawdown Average peak-to-trough decline	-2.27%	-4.44%	+2.17%

Volatility

Volatility by Period

	FLM	AIPO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	51.02%	35.59%	+15.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.02%	35.59%	+15.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.02%	35.59%	+15.43%

FLM vs. AIPO - Expense Ratio Comparison

FLM has a 0.70% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

FLM vs. AIPO - Dividend Comparison

FLM has not paid dividends to shareholders, while AIPO's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%
FLM First Trust Global Engineering and Construction ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLM and AIPO in my portfolio?

FLM and AIPO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLM or AIPO?

On fees, AIPO is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLM or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 0.70% for FLM.

Which ETF pays a higher dividend yield, FLM or AIPO?

AIPO has the higher dividend yield at 0.01%, compared with 0.00% for FLM.

What is the main difference between FLM and AIPO?

FLM tracks ISE Global Engineering & Construction Index, while AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index. They also come from different issuers: First Trust and Defiance. Their fees differ too: 0.70% for FLM and 0.69% for AIPO.