INAI.TO vs. CHPS-U.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.TO).

INAI.TO and CHPS-U.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INAI.TO is a passively managed fund by Invesco that tracks the performance of the Morningstar Global Next Gen AI Index. It was launched on Jan 18, 2024. CHPS-U.TO is a passively managed fund by Global X that tracks the performance of the PHLX US AI Semiconductor Index. It was launched on Jun 21, 2021. Both INAI.TO and CHPS-U.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

INAI.TO vs. CHPS-U.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.TO). The values are adjusted to include any dividend payments, if applicable.

INAI.TO vs. CHPS-U.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF	-9.34%	30.39%	50.13%
CHPS-U.TO Global X Artificial Intelligence Semiconductor Index ETF	2.94%	44.87%	25.22%

Different Trading Currencies

INAI.TO is traded in CAD, while CHPS-U.TO is traded in USD. To make them comparable, the CHPS-U.TO values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, INAI.TO achieves a -9.34% return, which is significantly lower than CHPS-U.TO's 2.94% return.

INAI.TO

• 1D: 1.87%
• 1M: -7.50%
• YTD: -9.34%
• 6M: -9.72%
• 1Y: 33.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHPS-U.TO

• 1D: -1.70%
• 1M: -5.44%
• YTD: 2.94%
• 6M: 11.35%
• 1Y: 69.55%
• 3Y*: 33.44%
• 5Y*: —
• 10Y*: —

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

INAI.TO vs. CHPS-U.TO - Expense Ratio Comparison

INAI.TO has a 0.60% expense ratio, which is lower than CHPS-U.TO's 0.63% expense ratio.

CHPS-U.TO

Global X Artificial Intelligence Semiconductor Index ETF

INAI.TO

Invesco Morningstar Global Next Gen AI Index ETF

Return for Risk

INAI.TO vs. CHPS-U.TO — Risk / Return Rank

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

INAI.TO

INAI.TO Risk / Return Rank: 57
INAI.TO Sharpe Ratio Rank: 66
INAI.TO Sortino Ratio Rank: 64
INAI.TO Omega Ratio Rank: 62
INAI.TO Calmar Ratio Rank: 50
INAI.TO Martin Ratio Rank: 40

CHPS-U.TO

CHPS-U.TO Risk / Return Rank: 93
CHPS-U.TO Sharpe Ratio Rank: 90
CHPS-U.TO Sortino Ratio Rank: 91
CHPS-U.TO Omega Ratio Rank: 90
CHPS-U.TO Calmar Ratio Rank: 97
CHPS-U.TO 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.

INAI.TO vs. CHPS-U.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) and Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.TO). 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.

	INAI.TO	CHPS-U.TO	Difference
Sharpe ratio Return per unit of total volatility	1.19	1.84	-0.66
Sortino ratio Return per unit of downside risk	1.65	2.49	-0.84
Omega ratio Gain probability vs. loss probability	1.23	1.35	-0.12
Calmar ratio Return relative to maximum drawdown	1.32	4.57	-3.25
Martin ratio Return relative to average drawdown	3.80	13.44	-9.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INAI.TO vs. CHPS-U.TO - Sharpe Ratio Comparison

The current INAI.TO Sharpe Ratio is 1.19, which is lower than the CHPS-U.TO Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of INAI.TO and CHPS-U.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INAI.TO	CHPS-U.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.84	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.37	+0.74

Correlation

The correlation between INAI.TO and CHPS-U.TO is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

INAI.TO vs. CHPS-U.TO - Dividend Comparison

INAI.TO's dividend yield for the trailing twelve months is around 0.05%, more than CHPS-U.TO's 0.01% yield.

	TTM	2025	2024	2023	2022	2021
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF	0.05%	0.07%	0.14%	0.00%	0.00%	0.00%
CHPS-U.TO Global X Artificial Intelligence Semiconductor Index ETF	0.01%	0.01%	0.14%	0.40%	0.72%	0.01%

Drawdowns

INAI.TO vs. CHPS-U.TO - Drawdown Comparison

The maximum INAI.TO drawdown since its inception was -26.78%, smaller than the maximum CHPS-U.TO drawdown of -48.89%. Use the drawdown chart below to compare losses from any high point for INAI.TO and CHPS-U.TO.

Drawdown Indicators

	INAI.TO	CHPS-U.TO	Difference
Max Drawdown Largest peak-to-trough decline	-26.78%	-53.70%	+26.92%
Max Drawdown (1Y) Largest decline over 1 year	-22.07%	-12.51%	-9.56%
Current Drawdown Current decline from peak	-20.61%	-10.43%	-10.18%
Average Drawdown Average peak-to-trough decline	-5.23%	-18.19%	+12.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.65%	4.38%	+3.27%

Volatility

INAI.TO vs. CHPS-U.TO - Volatility Comparison

The current volatility for Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) is 8.38%, while Global X Artificial Intelligence Semiconductor Index ETF (CHPS-U.TO) has a volatility of 12.09%. This indicates that INAI.TO experiences smaller price fluctuations and is considered to be less risky than CHPS-U.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INAI.TO	CHPS-U.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.38%	12.09%	-3.71%
Volatility (6M) Calculated over the trailing 6-month period	19.12%	26.27%	-7.15%
Volatility (1Y) Calculated over the trailing 1-year period	28.26%	38.03%	-9.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.03%	38.40%	-11.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.03%	38.40%	-11.37%