IPAY vs. AIEQ

Last updated Jul 15, 2026

IPAY (ETFMG Prime Mobile Payments ETF) and AIEQ (Amplify AI Powered Equity ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while AIEQ is a Large Cap Growth Equities fund tracking the AI Powered Equity Index. Both are passively managed. Over the past year, IPAY returned -17.92% vs 18.57% for AIEQ. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

IPAY vs. AIEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) and Amplify AI Powered Equity ETF (AIEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAY achieves a -7.03% return, which is significantly lower than AIEQ's 11.42% return.

IPAY

• 1D: -0.32%
• 1M: 10.49%
• 6M: -6.19%
• YTD: -7.03%
• 1Y: -17.92%
• 3Y*: 3.27%
• 5Y*: -6.97%
• 10Y*: 7.27%

AIEQ

• 1D: 0.80%
• 1M: 2.31%
• 6M: 9.84%
• YTD: 11.42%
• 1Y: 18.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IPAY vs. AIEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPAY ETFMG Prime Mobile Payments ETF	-7.03%	-9.55%	26.79%
AIEQ Amplify AI Powered Equity ETF	11.42%	13.96%	15.21%

Correlation

The correlation between IPAY and AIEQ is 0.63, 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	0.63
Correlation (All Time) Calculated using the full available price history since Jan 29, 2024	0.72

The correlation between IPAY and AIEQ has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

IPAY vs. AIEQ - Sectors Allocation Comparison

Sectors	IPAY	AIEQ
Technology	53.9%	39.7%
Financial Services	41.8%	11.7%
Industrials	4.3%	10.4%
Basic Materials	-	2.8%
Communication Services	-	11.2%
Consumer Cyclical	-	9.7%
Consumer Defensive	-	4.6%
Energy	-	2.8%
Healthcare	-	6.7%
Real Estate	-	0.2%
Utilities	-	0.3%

Return for Risk

IPAY vs. AIEQ — Risk / Return Rank

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

IPAY

IPAY Risk / Return Rank: 4
IPAY Sharpe Ratio Rank: 3
IPAY Sortino Ratio Rank: 4
IPAY Omega Ratio Rank: 4
IPAY Calmar Ratio Rank: 5
IPAY Martin Ratio Rank: 5

AIEQ

AIEQ Risk / Return Rank: 53
AIEQ Sharpe Ratio Rank: 54
AIEQ Sortino Ratio Rank: 51
AIEQ Omega Ratio Rank: 52
AIEQ Calmar Ratio Rank: 51
AIEQ Martin Ratio Rank: 55

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.

IPAY vs. AIEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) and Amplify AI Powered Equity ETF (AIEQ). 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.

	IPAY	AIEQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	1.46	-2.20
Sortino ratio: Return per unit of downside risk	-0.89	2.03	-2.92
Omega ratio: Gain probability vs. loss probability	0.89	1.26	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.57	2.05	-2.62
Martin ratio: Return relative to average drawdown	-0.99	7.66	-8.64

IPAY vs. AIEQ - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -0.74, which is lower than the AIEQ Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of IPAY and AIEQ, 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

IPAY vs. AIEQ - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, which is greater than AIEQ's maximum drawdown of -24.19%. Use the drawdown chart below to compare losses from any high point for IPAY and AIEQ.

Drawdown Indicators

	IPAY	AIEQ	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-24.19%	-27.56%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-9.11%	-22.20%
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	—	—
Current Drawdown Current decline from peak	-32.69%	0.00%	-32.69%
Average Drawdown Average peak-to-trough decline	-16.86%	-3.23%	-13.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.20%	2.43%	+15.77%

Volatility

IPAY vs. AIEQ - Volatility Comparison

ETFMG Prime Mobile Payments ETF (IPAY) has a higher volatility of 7.43% compared to Amplify AI Powered Equity ETF (AIEQ) at 3.58%. This indicates that IPAY's price experiences larger fluctuations and is considered to be riskier than AIEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAY	AIEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	3.58%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	19.70%	10.15%	+9.55%
Volatility (1Y) Calculated over the trailing 1-year period	24.35%	12.78%	+11.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.28%	19.28%	+7.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	19.28%	+6.10%

IPAY vs. AIEQ - Expense Ratio Comparison

Both IPAY and AIEQ have an expense ratio of 0.75%.

Dividends

IPAY vs. AIEQ - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.85%, more than AIEQ's 0.39% yield.

Position	TTM	2025	2024
AIEQ Amplify AI Powered Equity ETF	0.39%	0.43%	0.65%
IPAY ETFMG Prime Mobile Payments ETF	0.85%	0.79%	0.77%

Frequently Asked Questions

Can I hold both IPAY and AIEQ in my portfolio?

IPAY and AIEQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAY or AIEQ?

IPAY has higher volatility (7.43%) compared to AIEQ (3.58%). In terms of maximum drawdown, IPAY dropped -51.75% vs AIEQ's -24.19%.

Which ETF is better, IPAY or AIEQ?

On 1-year performance, AIEQ leads with 18.57% vs -17.92% for IPAY. Both ETFs have the same 0.75% expense ratio. On volatility, AIEQ has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAY or AIEQ?

Over the 1-year period, AIEQ has performed better with a 18.57% return vs -17.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAY or AIEQ?

IPAY and AIEQ have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, IPAY or AIEQ?

IPAY has the higher dividend yield at 0.85%, compared with 0.39% for AIEQ.

What is the main difference between IPAY and AIEQ?

IPAY is categorized as Technology Equities, while AIEQ is Large Cap Growth Equities. IPAY tracks Prime Mobile Payments Index, while AIEQ tracks AI Powered Equity Index. They also come from different issuers: ETFMG and Amplify.

Which has better risk-adjusted returns?

AIEQ currently has the higher Sharpe Ratio (1.46 vs -0.74), 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.