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IAT vs. PSCF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAT vs. PSCF

Last updated Aug 4, 2026
Documentation

IAT (iShares U.S. Regional Banks ETF) and PSCF (Invesco S&P SmallCap Financials ETF) are both Financials Equities funds - IAT tracks the Dow Jones U.S. Select Regional Banks Index while PSCF tracks the S&P SmallCap 600 Financials Index. Both are passively managed. Over the past 10 years, IAT returned 9.38%/yr vs 7.65%/yr for PSCF. Their correlation of 0.83 means they have usually moved in the same direction. IAT charges 0.42%/yr vs 0.29%/yr for PSCF.

Performance

IAT vs. PSCF - Performance Comparison

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

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Returns By Period

In the year-to-date period, IAT achieves a 17.93% return, which is significantly lower than PSCF's 19.38% return. Over the past 10 years, IAT has outperformed PSCF with an annualized return of 9.38%, while PSCF has yielded a comparatively lower 7.65% annualized return.

IAT

1D
1.19%
1M
2.49%
6M
9.97%
YTD
17.93%
1Y
34.96%
3Y*
22.54%
5Y*
6.16%
10Y*
9.38%
ALL TIME*
3.84%

PSCF

1D
1.22%
1M
2.99%
6M
14.40%
YTD
19.38%
1Y
29.43%
3Y*
16.36%
5Y*
6.66%
10Y*
7.65%
ALL TIME*
9.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IAT

iShares U.S. Regional Banks ETF
$7.95M$9.88M$9.64M

PSCF

Invesco S&P SmallCap Financials ETF
$415.36K$390.86K$204.56K

IAT vs. PSCF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAT
iShares U.S. Regional Banks ETF		17.93%13.05%24.36%-8.53%-20.61%38.89%-7.60%31.38%-17.45%10.42%
PSCF
Invesco S&P SmallCap Financials ETF		19.38%6.19%15.50%6.02%-19.34%27.82%-9.07%23.13%-8.43%6.71%

Correlation

The correlation between IAT and PSCF is 0.83, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.83

Correlation (3Y)
Balances recent behavior with more history.

0.87

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.88

Correlation (10Y)
Provides a long-term view across more market conditions.

0.85

Correlation (All Time)
Calculated using the full available price history since Apr 7, 2010

0.83

The correlation between IAT and PSCF has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

IAT vs. PSCF - Sectors Allocation Comparison

Sectors
IAT
PSCF

Financial Services

100.0%
66.3%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

0.4%

Real Estate

-

29.9%

Technology

-

3.4%

Utilities

-

-

Financial Services

IAT
100.0%
PSCF
66.3%

Basic Materials

IAT

-

PSCF

-

Communication Services

IAT

-

PSCF

-

Consumer Cyclical

IAT

-

PSCF

-

Consumer Defensive

IAT

-

PSCF

-

Energy

IAT

-

PSCF

-

Healthcare

IAT

-

PSCF

-

Industrials

IAT

-

PSCF
0.4%

Real Estate

IAT

-

PSCF
29.9%

Technology

IAT

-

PSCF
3.4%

Utilities

IAT

-

PSCF

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Regional Banks ETF

Invesco S&P SmallCap Financials ETF

Often compared with IAT:
IAT vs. KREIAT vs. KCEIAT vs. MTBIAT vs. PKWIAT vs. XLFIAT vs. JPMIAT vs. SPY
Often compared with PSCF:
PSCF vs. PFFDPSCF vs. KBWPPSCF vs. FNCLPSCF vs. MMSCPSCF vs. PSCIPSCF vs. GABFPSCF vs. BALI

Return for Risk

IAT vs. PSCF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IAT
IAT Risk / Return Rank: 5959
Overall Rank
IAT Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IAT Sortino Ratio Rank: 6262
Sortino Ratio Rank
IAT Omega Ratio Rank: 6565
Omega Ratio Rank
IAT Calmar Ratio Rank: 5454
Calmar Ratio Rank
IAT Martin Ratio Rank: 4545
Martin Ratio Rank
PSCF
PSCF Risk / Return Rank: 7171
Overall Rank
PSCF Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
PSCF Sortino Ratio Rank: 7373
Sortino Ratio Rank
PSCF Omega Ratio Rank: 6969
Omega Ratio Rank
PSCF Calmar Ratio Rank: 7979
Calmar Ratio Rank
PSCF Martin Ratio Rank: 6464
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IAT vs. PSCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.

IATPSCFDifference
Sharpe ratioReturn per unit of total volatility
1.61
1.73

-0.12

Sortino ratioReturn per unit of downside risk
2.17
2.48

-0.31

Omega ratioGain probability vs. loss probability

1.29

1.31

-0.02

Calmar ratioReturn relative to maximum drawdown

2.01

2.98

-0.97

Martin ratioReturn relative to average drawdown

5.18

8.06

-2.88

IAT vs. PSCF - Sharpe Ratio Comparison

The current IAT Sharpe Ratio is 1.61, which is comparable to the PSCF Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of IAT 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.

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Drawdowns

IAT vs. PSCF - Drawdown Comparison

The maximum IAT drawdown since its inception was -77.22%, which is greater than PSCF's maximum drawdown of -45.46%. Use the drawdown chart below to compare losses from any high point for IAT and PSCF.

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Drawdown Indicators

IATPSCFDifference

Max Drawdown

Largest peak-to-trough decline

-77.22%

-45.46%

-31.76%

Max Drawdown (1Y)

Largest decline over 1 year

-17.49%

-9.91%

-7.58%

Max Drawdown (3Y)

Largest decline over 3 years

-29.29%

-24.34%

-4.95%

Max Drawdown (5Y)

Largest decline over 5 years

-55.55%

-36.77%

-18.78%

Max Drawdown (10Y)

Largest decline over 10 years

-55.55%

-45.46%

-10.09%

Current Drawdown

Current decline from peak

-1.37%

-0.26%

-1.11%

Average Drawdown

Average peak-to-trough decline

-26.77%

-8.51%

-18.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.77%

3.66%

+3.11%

Volatility

IAT vs. PSCF - Volatility Comparison

iShares U.S. Regional Banks ETF (IAT) has a higher volatility of 5.50% compared to Invesco S&P SmallCap Financials ETF (PSCF) at 4.61%. This indicates that IAT'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.

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Volatility by Period

IATPSCFDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.50%

4.61%

+0.89%

Volatility (6M)

Calculated over the trailing 6-month period

16.05%

11.74%

+4.31%

Volatility (1Y)

Calculated over the trailing 1-year period

21.84%

17.14%

+4.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.76%

22.24%

+6.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.68%

24.75%

+5.93%

IAT vs. PSCF - Expense Ratio Comparison

IAT has a 0.42% expense ratio, which is higher than PSCF's 0.29% expense ratio.

Dividends

IAT vs. PSCF - Dividend Comparison

IAT's dividend yield for the trailing twelve months is around 2.51%, more than PSCF's 2.10% yield.

PositionTTM20252024202320222021202020192018201720162015
IAT
iShares U.S. Regional Banks ETF		2.51%2.94%2.95%3.56%3.12%1.88%2.87%2.49%2.48%1.55%1.52%1.78%
PSCF
Invesco S&P SmallCap Financials ETF		2.10%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

IAT and PSCF have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAT has higher volatility (5.50%) compared to PSCF (4.61%). In terms of maximum drawdown, IAT dropped -77.22% vs PSCF's -45.46%.

On 10-year performance, IAT leads with 9.38% vs 7.65% for PSCF. On fees, PSCF is cheaper at 0.29% per year. On volatility, PSCF has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAT has performed better with a 9.38% return vs 7.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PSCF is cheaper with a 0.29% expense ratio, compared with 0.42% for IAT.

IAT has the higher dividend yield at 2.51%, compared with 2.10% for PSCF.

IAT tracks Dow Jones U.S. Select Regional Banks Index, while PSCF tracks S&P SmallCap 600 Financials Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for IAT and 0.29% for PSCF.

PSCF currently has the higher Sharpe Ratio (1.73 vs 1.61), 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.

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