IAIX.L vs. ECAR.L
IAIX.L (Invesco Artificial Intelligence Enablers UCITS ETF Acc) and ECAR.L (iShares Electric Vehicles and Driving Technology UCITS ETF USD (Acc)) are both Technology Equities funds - IAIX.L tracks the S&P Kensho Global AI Enablers Screened Index while ECAR.L tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past year, IAIX.L returned 83.72% vs 99.07% for ECAR.L. A 0.73 correlation means they provide meaningful diversification when combined. IAIX.L charges 0.35%/yr vs 0.40%/yr for ECAR.L.
Performance
IAIX.L vs. ECAR.L - Performance Comparison
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Different Trading Currencies
IAIX.L is traded in GBp, while ECAR.L is traded in USD. To make them comparable, the ECAR.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IAIX.L achieves a 39.63% return, which is significantly lower than ECAR.L's 61.55% return.
IAIX.L
- 1D
- -2.64%
- 1M
- 28.26%
- YTD
- 39.63%
- 6M
- 38.14%
- 1Y
- 83.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ECAR.L
- 1D
- 0.61%
- 1M
- 24.63%
- YTD
- 61.55%
- 6M
- 63.54%
- 1Y
- 99.07%
- 3Y*
- 24.74%
- 5Y*
- 14.11%
- 10Y*
- —
IAIX.L vs. ECAR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IAIX.L Invesco Artificial Intelligence Enablers UCITS ETF Acc | 39.63% | 20.04% | 20.41% |
ECAR.L iShares Electric Vehicles and Driving Technology UCITS ETF USD (Acc) | 61.55% | 15.47% | 7.16% |
Correlation
The correlation between IAIX.L and ECAR.L is 0.66, 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 | 0.66 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2024 | 0.73 |
The correlation between IAIX.L and ECAR.L has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
IAIX.L vs. ECAR.L — Risk / Return Rank
IAIX.L
ECAR.L
IAIX.L vs. ECAR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Artificial Intelligence Enablers UCITS ETF Acc (IAIX.L) and iShares Electric Vehicles and Driving Technology UCITS ETF USD (Acc) (ECAR.L). 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.
| IAIX.L | ECAR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.62 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.41 | 7.96 | -2.55 |
| Martin ratioReturn relative to average drawdown | 13.80 | 24.25 | -10.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAIX.L | ECAR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.17 | 3.99 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.91 | 0.66 | +1.25 |
Drawdowns
IAIX.L vs. ECAR.L - Drawdown Comparison
The maximum IAIX.L drawdown since its inception was -31.60%, smaller than the maximum ECAR.L drawdown of -35.94%. Use the drawdown chart below to compare losses from any high point for IAIX.L and ECAR.L.
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Drawdown Indicators
| IAIX.L | ECAR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.60% | -35.94% | +4.34% |
Max Drawdown (1Y)Largest decline over 1 year | -15.39% | -12.38% | -3.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.74% | — |
Current DrawdownCurrent decline from peak | -2.64% | 0.00% | -2.64% |
Average DrawdownAverage peak-to-trough decline | -7.32% | -8.68% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.05% | 4.07% | +1.98% |
Volatility
IAIX.L vs. ECAR.L - Volatility Comparison
Invesco Artificial Intelligence Enablers UCITS ETF Acc (IAIX.L) and iShares Electric Vehicles and Driving Technology UCITS ETF USD (Acc) (ECAR.L) have volatilities of 11.52% and 11.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAIX.L | ECAR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.52% | 11.93% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 19.19% | 20.17% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.36% | 24.75% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.58% | 22.87% | +6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.58% | 23.91% | +5.67% |
IAIX.L vs. ECAR.L - Expense Ratio Comparison
IAIX.L has a 0.35% expense ratio, which is lower than ECAR.L's 0.40% expense ratio.
Dividends
IAIX.L vs. ECAR.L - Dividend Comparison
Neither IAIX.L nor ECAR.L has paid dividends to shareholders.
Frequently Asked Questions
IAIX.L and ECAR.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAIX.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAIX.L is cheaper with a 0.35% expense ratio, compared with 0.40% for ECAR.L.
IAIX.L tracks S&P Kensho Global AI Enablers Screened Index, while ECAR.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for IAIX.L and 0.40% for ECAR.L.
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