IAIX.L vs. ITEC.L
IAIX.L (Invesco Artificial Intelligence Enablers UCITS ETF Acc) and ITEC.L (SPDR® MSCI Europe Technology UCITS ETF) are both Technology Equities funds - IAIX.L tracks the S&P Kensho Global AI Enablers Screened Index while ITEC.L tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past year, IAIX.L returned 83.72% vs 66.35% for ITEC.L. A 0.68 correlation means they provide meaningful diversification when combined. IAIX.L charges 0.35%/yr vs 0.18%/yr for ITEC.L.
Performance
IAIX.L vs. ITEC.L - Performance Comparison
Loading charts...
Different Trading Currencies
IAIX.L is traded in GBp, while ITEC.L is traded in EUR. To make them comparable, the ITEC.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 ITEC.L's 49.43% return.
IAIX.L
- 1D
- -2.64%
- 1M
- 28.26%
- YTD
- 39.63%
- 6M
- 38.14%
- 1Y
- 83.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ITEC.L
- 1D
- -0.19%
- 1M
- 23.17%
- YTD
- 49.43%
- 6M
- 47.19%
- 1Y
- 66.35%
- 3Y*
- 24.62%
- 5Y*
- 15.23%
- 10Y*
- 17.52%
IAIX.L vs. ITEC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IAIX.L Invesco Artificial Intelligence Enablers UCITS ETF Acc | 39.63% | 20.04% | 20.41% |
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 49.43% | 15.55% | 6.22% |
Correlation
The correlation between IAIX.L and ITEC.L is 0.65, 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2024 | 0.68 |
The correlation between IAIX.L and ITEC.L has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IAIX.L vs. ITEC.L — Risk / Return Rank
IAIX.L
ITEC.L
IAIX.L vs. ITEC.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 SPDR® MSCI Europe Technology UCITS ETF (ITEC.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 | ITEC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.43 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 5.41 | 5.50 | -0.08 |
| Martin ratioReturn relative to average drawdown | 13.80 | 13.97 | -0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IAIX.L | ITEC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.17 | 2.64 | +0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.60 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.91 | 0.69 | +1.21 |
Drawdowns
IAIX.L vs. ITEC.L - Drawdown Comparison
The maximum IAIX.L drawdown since its inception was -31.60%, smaller than the maximum ITEC.L drawdown of -37.70%. Use the drawdown chart below to compare losses from any high point for IAIX.L and ITEC.L.
Loading charts...
Drawdown Indicators
| IAIX.L | ITEC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.60% | -37.70% | +6.10% |
Max Drawdown (1Y)Largest decline over 1 year | -15.39% | -12.01% | -3.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.70% | — |
Current DrawdownCurrent decline from peak | -2.64% | -0.19% | -2.45% |
Average DrawdownAverage peak-to-trough decline | -7.32% | -8.32% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.05% | 4.74% | +1.31% |
Volatility
IAIX.L vs. ITEC.L - Volatility Comparison
Invesco Artificial Intelligence Enablers UCITS ETF Acc (IAIX.L) has a higher volatility of 11.52% compared to SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) at 10.32%. This indicates that IAIX.L's price experiences larger fluctuations and is considered to be riskier than ITEC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IAIX.L | ITEC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.52% | 10.32% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 19.19% | 20.33% | -1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.36% | 25.05% | +1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.58% | 25.41% | +4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.58% | 23.87% | +5.71% |
IAIX.L vs. ITEC.L - Expense Ratio Comparison
IAIX.L has a 0.35% expense ratio, which is higher than ITEC.L's 0.18% expense ratio.
Dividends
IAIX.L vs. ITEC.L - Dividend Comparison
Neither IAIX.L nor ITEC.L has paid dividends to shareholders.
Frequently Asked Questions
IAIX.L and ITEC.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITEC.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITEC.L is cheaper with a 0.18% expense ratio, compared with 0.35% for IAIX.L.
IAIX.L tracks S&P Kensho Global AI Enablers Screened Index, while ITEC.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.35% for IAIX.L and 0.18% for ITEC.L.
Find the right allocation for IAIX.L and ITEC.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer