IGM vs. PSI

Last updated Jun 18, 2026

IGM (iShares Expanded Tech Sector ETF) and PSI (Invesco Semiconductors ETF) are both exchange-traded funds - IGM is a Technology Equities fund tracking the S&P North American Expanded Technology Sector Index, while PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. Both are passively managed. Over the past 10 years, IGM returned 24.72%/yr vs 34.69%/yr for PSI. Their correlation of 0.83 suggests significant overlap in exposure. IGM charges 0.39%/yr vs 0.56%/yr for PSI.

Performance

IGM vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Expanded Tech Sector ETF (IGM) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGM achieves a 23.93% return, which is significantly lower than PSI's 112.38% return. Over the past 10 years, IGM has underperformed PSI with an annualized return of 24.72%, while PSI has yielded a comparatively higher 34.69% annualized return.

IGM

• 1D: -0.68%
• 1M: 4.68%
• YTD: 23.93%
• 6M: 27.90%
• 1Y: 49.62%
• 3Y*: 35.04%
• 5Y*: 20.05%
• 10Y*: 24.72%

PSI

• 1D: 0.44%
• 1M: 17.16%
• YTD: 112.38%
• 6M: 121.38%
• 1Y: 199.37%
• 3Y*: 56.05%
• 5Y*: 33.45%
• 10Y*: 34.69%

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

IGM vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGM iShares Expanded Tech Sector ETF	23.93%	26.76%	36.99%	60.68%	-35.83%	25.72%	45.11%	41.81%	2.26%	37.20%
PSI Invesco Semiconductors ETF	112.38%	36.32%	17.17%	49.06%	-34.43%	46.55%	56.75%	52.49%	-11.55%	40.16%

Correlation

The correlation between IGM and PSI is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 23, 2005	0.83

The correlation between IGM and PSI has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

IGM vs. PSI - Sectors Allocation Comparison

Sectors	IGM	PSI
Technology	85.2%	98.4%
Communication Services	13.9%	-
Industrials	0.3%	1.6%
Financial Services	0.3%	-
Energy	0.2%	-
Consumer Cyclical	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IGM vs. PSI — Risk / Return Rank

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

IGM

IGM Risk / Return Rank: 67
IGM Sharpe Ratio Rank: 76
IGM Sortino Ratio Rank: 66
IGM Omega Ratio Rank: 68
IGM Calmar Ratio Rank: 65
IGM Martin Ratio Rank: 61

PSI

PSI Risk / Return Rank: 96
PSI Sharpe Ratio Rank: 98
PSI Sortino Ratio Rank: 94
PSI Omega Ratio Rank: 94
PSI Calmar Ratio Rank: 98
PSI Martin Ratio Rank: 97

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.

IGM vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech Sector ETF (IGM) and Invesco Semiconductors ETF (PSI). 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.

	IGM	PSI	Difference
Sharpe ratio: Return per unit of total volatility	2.24	4.91	-2.67
Sortino ratio: Return per unit of downside risk	2.81	4.54	-1.73
Omega ratio: Gain probability vs. loss probability	1.37	1.63	-0.25
Calmar ratio: Return relative to maximum drawdown	3.03	12.97	-9.94
Martin ratio: Return relative to average drawdown	10.21	45.30	-35.09

IGM vs. PSI - Sharpe Ratio Comparison

The current IGM Sharpe Ratio is 2.24, which is lower than the PSI Sharpe Ratio of 4.91. The chart below compares the historical Sharpe Ratios of IGM and PSI, 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

IGM vs. PSI - Drawdown Comparison

The maximum IGM drawdown since its inception was -65.59%, roughly equal to the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for IGM and PSI.

Drawdown Indicators

	IGM	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-65.59%	-62.96%	-2.63%
Max Drawdown (1Y) Largest decline over 1 year	-16.44%	-15.48%	-0.96%
Max Drawdown (3Y) Largest decline over 3 years	-26.39%	-41.07%	+14.68%
Max Drawdown (5Y) Largest decline over 5 years	-40.68%	-44.85%	+4.17%
Max Drawdown (10Y) Largest decline over 10 years	-40.68%	-44.85%	+4.17%
Current Drawdown Current decline from peak	-6.42%	-4.62%	-1.80%
Average Drawdown Average peak-to-trough decline	-15.21%	-15.91%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	4.42%	+0.46%

Volatility

IGM vs. PSI - Volatility Comparison

The current volatility for iShares Expanded Tech Sector ETF (IGM) is 10.71%, while Invesco Semiconductors ETF (PSI) has a volatility of 19.35%. This indicates that IGM experiences smaller price fluctuations and is considered to be less risky than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGM	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.71%	19.35%	-8.64%
Volatility (6M) Calculated over the trailing 6-month period	18.29%	33.86%	-15.57%
Volatility (1Y) Calculated over the trailing 1-year period	22.31%	40.92%	-18.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.98%	38.57%	-12.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.70%	35.49%	-10.79%

IGM vs. PSI - Expense Ratio Comparison

IGM has a 0.39% expense ratio, which is lower than PSI's 0.56% expense ratio.

Dividends

IGM vs. PSI - Dividend Comparison

IGM's dividend yield for the trailing twelve months is around 0.14%, more than PSI's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGM iShares Expanded Tech Sector ETF	0.14%	0.17%	0.22%	0.33%	0.66%	0.16%	0.32%	0.50%	0.57%	0.57%	0.90%	0.79%
PSI Invesco Semiconductors ETF	0.04%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%

Frequently Asked Questions

Can I hold both IGM and PSI in my portfolio?

IGM and PSI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGM or PSI?

PSI has higher volatility (19.35%) compared to IGM (10.71%). In terms of maximum drawdown, IGM dropped -65.59% vs PSI's -62.96%.

Which ETF is better, IGM or PSI?

On 10-year performance, PSI leads with 34.69% vs 24.72% for IGM. On fees, IGM is cheaper at 0.39% per year. On volatility, IGM has been the lower-risk option at 10.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGM or PSI?

Over the 10-year period, PSI has performed better with a 34.69% return vs 24.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGM or PSI?

IGM is cheaper with a 0.39% expense ratio, compared with 0.56% for PSI.

Which ETF pays a higher dividend yield, IGM or PSI?

IGM has the higher dividend yield at 0.14%, compared with 0.04% for PSI.

What is the main difference between IGM and PSI?

IGM is categorized as Technology Equities, while PSI is Semiconductors. IGM tracks S&P North American Expanded Technology Sector Index, while PSI tracks Dynamic Semiconductors Intellidex Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.39% for IGM and 0.56% for PSI.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (4.91 vs 2.24), 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.