IAK vs. PSCF

Last updated Jun 25, 2026

IAK (iShares U.S. Insurance ETF) and PSCF (Invesco S&P SmallCap Financials ETF) are both Financials Equities funds - IAK tracks the Dow Jones U.S. Select Insurance Index while PSCF tracks the S&P SmallCap 600 Financials Index. Both are passively managed. Over the past 10 years, IAK returned 13.24%/yr vs 8.04%/yr for PSCF. A 0.73 correlation means they provide meaningful diversification when combined. IAK charges 0.38%/yr vs 0.29%/yr for PSCF.

Performance

IAK vs. PSCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and Invesco S&P SmallCap Financials ETF (PSCF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAK achieves a 3.98% return, which is significantly lower than PSCF's 13.58% return. Over the past 10 years, IAK has outperformed PSCF with an annualized return of 13.24%, while PSCF has yielded a comparatively lower 8.04% annualized return.

IAK

• 1D: 0.35%
• 1M: 3.96%
• YTD: 3.98%
• 6M: 3.01%
• 1Y: 7.11%
• 3Y*: 19.83%
• 5Y*: 14.32%
• 10Y*: 13.24%

PSCF

• 1D: 0.56%
• 1M: 5.35%
• YTD: 13.58%
• 6M: 11.22%
• 1Y: 22.54%
• 3Y*: 20.10%
• 5Y*: 4.56%
• 10Y*: 8.04%

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

IAK vs. PSCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAK iShares U.S. Insurance ETF	3.98%	9.50%	28.25%	11.28%	11.33%	26.84%	-2.86%	25.94%	-11.48%	14.18%
PSCF Invesco S&P SmallCap Financials ETF	13.58%	6.19%	15.50%	6.02%	-19.34%	27.82%	-9.07%	23.13%	-8.43%	6.71%

Correlation

The correlation between IAK and PSCF is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010	0.73

The correlation between IAK and PSCF shifts across timeframes, from 0.57 (3 years) to 0.73 (all time), reflecting how their relationship changes across market environments.

IAK vs. PSCF - Sectors Allocation Comparison

Sectors	IAK	PSCF
Financial Services	99.4%	67.3%
Healthcare	0.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	0.4%
Real Estate	-	28.8%
Technology	-	3.5%
Utilities	-	-

Return for Risk

IAK vs. PSCF — Risk / Return Rank

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

IAK

IAK Risk / Return Rank: 18
IAK Sharpe Ratio Rank: 16
IAK Sortino Ratio Rank: 15
IAK Omega Ratio Rank: 15
IAK Calmar Ratio Rank: 22
IAK Martin Ratio Rank: 20

PSCF

PSCF Risk / Return Rank: 43
PSCF Sharpe Ratio Rank: 41
PSCF Sortino Ratio Rank: 41
PSCF Omega Ratio Rank: 39
PSCF Calmar Ratio Rank: 52
PSCF Martin Ratio Rank: 41

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.

IAK vs. PSCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and Invesco S&P SmallCap Financials ETF (PSCF). 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.

	IAK	PSCF	Difference
Sharpe ratio: Return per unit of total volatility	0.47	1.30	-0.83
Sortino ratio: Return per unit of downside risk	0.75	1.91	-1.16
Omega ratio: Gain probability vs. loss probability	1.09	1.23	-0.14
Calmar ratio: Return relative to maximum drawdown	0.94	2.28	-1.35
Martin ratio: Return relative to average drawdown	2.09	6.09	-3.99

IAK vs. PSCF - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 0.47, which is lower than the PSCF Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of IAK and PSCF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IAK vs. PSCF - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than PSCF's maximum drawdown of -45.46%. Use the drawdown chart below to compare losses from any high point for IAK and PSCF.

Drawdown Indicators

	IAK	PSCF	Difference
Max Drawdown Largest peak-to-trough decline	-77.38%	-45.46%	-31.92%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-9.91%	+2.29%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	-24.34%	+12.76%
Max Drawdown (5Y) Largest decline over 5 years	-14.76%	-36.77%	+22.01%
Max Drawdown (10Y) Largest decline over 10 years	-44.95%	-45.46%	+0.51%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-16.09%	-8.56%	-7.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.71%	-0.30%

Volatility

IAK vs. PSCF - Volatility Comparison

iShares U.S. Insurance ETF (IAK) has a higher volatility of 5.61% compared to Invesco S&P SmallCap Financials ETF (PSCF) at 4.69%. This indicates that IAK's price experiences larger fluctuations and is considered to be riskier than PSCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAK	PSCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	4.69%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	11.99%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	17.43%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.05%	22.42%	-4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.87%	24.77%	-3.90%

IAK vs. PSCF - Expense Ratio Comparison

IAK has a 0.38% expense ratio, which is higher than PSCF's 0.29% expense ratio.

Dividends

IAK vs. PSCF - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.57%, more than PSCF's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAK iShares U.S. Insurance ETF	2.57%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%
PSCF Invesco S&P SmallCap Financials ETF	2.21%	2.09%	2.48%	3.32%	2.93%	1.83%	3.57%	4.27%	4.21%	2.26%	3.01%	2.37%

Frequently Asked Questions

Can I hold both IAK and PSCF in my portfolio?

IAK and PSCF have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAK or PSCF?

IAK has higher volatility (5.61%) compared to PSCF (4.69%). In terms of maximum drawdown, IAK dropped -77.38% vs PSCF's -45.46%.

Which ETF is better, IAK or PSCF?

On 10-year performance, IAK leads with 13.24% vs 8.04% for PSCF. On fees, PSCF is cheaper at 0.29% per year. On volatility, PSCF has been the lower-risk option at 4.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAK or PSCF?

Over the 10-year period, IAK has performed better with a 13.24% return vs 8.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAK or PSCF?

PSCF is cheaper with a 0.29% expense ratio, compared with 0.38% for IAK.

Which ETF pays a higher dividend yield, IAK or PSCF?

IAK has the higher dividend yield at 2.57%, compared with 2.21% for PSCF.

What is the main difference between IAK and PSCF?

IAK tracks Dow Jones U.S. Select Insurance Index, while PSCF tracks S&P SmallCap 600 Financials Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.38% for IAK and 0.29% for PSCF.

Which has better risk-adjusted returns?

PSCF currently has the higher Sharpe Ratio (1.30 vs 0.47), 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.