IGPT vs. XSD

Last updated Jun 13, 2026

IGPT (Invesco AI and Next Gen Software ETF) and XSD (SPDR S&P Semiconductor ETF) are both exchange-traded funds - IGPT is a Technology Equities fund tracking the STOXX World AC NexGen Software Development Index, while XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry Index. Both are passively managed. Over the past 10 years, IGPT returned 21.76%/yr vs 30.26%/yr for XSD. A 0.75 correlation means they provide meaningful diversification when combined. IGPT charges 0.60%/yr vs 0.35%/yr for XSD.

Performance

IGPT vs. XSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco AI and Next Gen Software ETF (IGPT) and SPDR S&P Semiconductor ETF (XSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGPT achieves a 63.54% return, which is significantly lower than XSD's 88.46% return. Over the past 10 years, IGPT has underperformed XSD with an annualized return of 21.76%, while XSD has yielded a comparatively higher 30.26% annualized return.

IGPT

• 1D: 0.39%
• 1M: 6.20%
• YTD: 63.54%
• 6M: 68.47%
• 1Y: 107.67%
• 3Y*: 39.41%
• 5Y*: 14.12%
• 10Y*: 21.76%

XSD

• 1D: 1.37%
• 1M: 7.35%
• YTD: 88.46%
• 6M: 84.83%
• 1Y: 147.81%
• 3Y*: 40.43%
• 5Y*: 27.60%
• 10Y*: 30.26%

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

IGPT vs. XSD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGPT Invesco AI and Next Gen Software ETF	63.54%	31.55%	17.15%	27.29%	-27.73%	-11.79%	54.31%	35.06%	16.38%	34.60%
XSD SPDR S&P Semiconductor ETF	88.46%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-6.35%	25.21%

Correlation

The correlation between IGPT and XSD is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006	0.75

The correlation between IGPT and XSD has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

IGPT vs. XSD - Sectors Allocation Comparison

Sectors	IGPT	XSD
Technology	73.9%	97.8%
Communication Services	15.6%	-
Real Estate	3.9%	-
Healthcare	3.6%	-
Industrials	3.1%	-
Financial Services	1.3%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	2.2%
Utilities	-	-

Return for Risk

IGPT vs. XSD — Risk / Return Rank

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

IGPT

IGPT Risk / Return Rank: 94
IGPT Sharpe Ratio Rank: 95
IGPT Sortino Ratio Rank: 92
IGPT Omega Ratio Rank: 92
IGPT Calmar Ratio Rank: 94
IGPT Martin Ratio Rank: 94

XSD

XSD Risk / Return Rank: 94
XSD Sharpe Ratio Rank: 96
XSD Sortino Ratio Rank: 92
XSD Omega Ratio Rank: 91
XSD Calmar Ratio Rank: 96
XSD Martin Ratio Rank: 95

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.

IGPT vs. XSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco AI and Next Gen Software ETF (IGPT) and SPDR S&P Semiconductor ETF (XSD). 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.

	IGPT	XSD	Difference
Sharpe ratio: Return per unit of total volatility	3.45	3.80	-0.35
Sortino ratio: Return per unit of downside risk	3.90	3.94	-0.04
Omega ratio: Gain probability vs. loss probability	1.55	1.53	+0.02
Calmar ratio: Return relative to maximum drawdown	6.49	7.99	-1.50
Martin ratio: Return relative to average drawdown	24.22	26.64	-2.42

IGPT vs. XSD - Sharpe Ratio Comparison

The current IGPT Sharpe Ratio is 3.45, which is comparable to the XSD Sharpe Ratio of 3.80. The chart below compares the historical Sharpe Ratios of IGPT and XSD, 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

IGPT vs. XSD - Drawdown Comparison

The maximum IGPT drawdown since its inception was -50.14%, smaller than the maximum XSD drawdown of -64.56%. Use the drawdown chart below to compare losses from any high point for IGPT and XSD.

Drawdown Indicators

	IGPT	XSD	Difference
Max Drawdown Largest peak-to-trough decline	-50.14%	-64.56%	+14.42%
Max Drawdown (1Y) Largest decline over 1 year	-16.68%	-18.61%	+1.93%
Max Drawdown (3Y) Largest decline over 3 years	-29.30%	-41.25%	+11.95%
Max Drawdown (5Y) Largest decline over 5 years	-44.87%	-42.27%	-2.60%
Max Drawdown (10Y) Largest decline over 10 years	-50.14%	-42.27%	-7.87%
Current Drawdown Current decline from peak	-5.19%	-6.77%	+1.58%
Average Drawdown Average peak-to-trough decline	-11.96%	-13.73%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	5.57%	-1.11%

Volatility

IGPT vs. XSD - Volatility Comparison

The current volatility for Invesco AI and Next Gen Software ETF (IGPT) is 16.48%, while SPDR S&P Semiconductor ETF (XSD) has a volatility of 20.05%. This indicates that IGPT experiences smaller price fluctuations and is considered to be less risky than XSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGPT	XSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.48%	20.05%	-3.57%
Volatility (6M) Calculated over the trailing 6-month period	27.20%	31.79%	-4.59%
Volatility (1Y) Calculated over the trailing 1-year period	31.38%	39.14%	-7.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.26%	38.80%	-10.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.65%	35.26%	-8.61%

IGPT vs. XSD - Expense Ratio Comparison

IGPT has a 0.60% expense ratio, which is higher than XSD's 0.35% expense ratio.

Dividends

IGPT vs. XSD - Dividend Comparison

IGPT's dividend yield for the trailing twelve months is around 0.03%, less than XSD's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGPT Invesco AI and Next Gen Software ETF	0.03%	0.04%	0.00%	0.00%	1.41%	6.21%	0.04%	0.05%	0.00%	0.00%	0.03%	0.15%
XSD SPDR S&P Semiconductor ETF	0.13%	0.26%	0.20%	0.31%	0.44%	0.10%	0.26%	0.51%	1.16%	0.59%	0.64%	0.58%

Frequently Asked Questions

Can I hold both IGPT and XSD in my portfolio?

IGPT and XSD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGPT or XSD?

XSD has higher volatility (20.05%) compared to IGPT (16.48%). In terms of maximum drawdown, IGPT dropped -50.14% vs XSD's -64.56%.

Which ETF is better, IGPT or XSD?

On 10-year performance, XSD leads with 30.26% vs 21.76% for IGPT. On fees, XSD is cheaper at 0.35% per year. On volatility, IGPT has been the lower-risk option at 16.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGPT or XSD?

Over the 10-year period, XSD has performed better with a 30.26% return vs 21.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGPT or XSD?

XSD is cheaper with a 0.35% expense ratio, compared with 0.60% for IGPT.

Which ETF pays a higher dividend yield, IGPT or XSD?

XSD has the higher dividend yield at 0.13%, compared with 0.03% for IGPT.

What is the main difference between IGPT and XSD?

IGPT is categorized as Technology Equities, while XSD is Semiconductors. IGPT tracks STOXX World AC NexGen Software Development Index, while XSD tracks S&P Semiconductor Select Industry Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.60% for IGPT and 0.35% for XSD.

Which has better risk-adjusted returns?

XSD currently has the higher Sharpe Ratio (3.80 vs 3.45), 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.