IPAY vs. ARKF

Last updated Jun 24, 2026

IPAY (ETFMG Prime Mobile Payments ETF) and ARKF (ARK Fintech Innovation ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while ARKF is a Blockchain fund actively managed by ARK. IPAY is passively managed, while ARKF is actively managed. Over the past 5 years, IPAY returned -9.21%/yr vs -6.28%/yr for ARKF. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

IPAY vs. ARKF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) and ARK Fintech Innovation ETF (ARKF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAY achieves a -16.12% return, which is significantly higher than ARKF's -18.35% return.

IPAY

• 1D: -0.55%
• 1M: -3.52%
• YTD: -16.12%
• 6M: -17.27%
• 1Y: -23.67%
• 3Y*: 2.21%
• 5Y*: -9.21%
• 10Y*: 6.77%

ARKF

• 1D: -1.37%
• 1M: -4.80%
• YTD: -18.35%
• 6M: -20.79%
• 1Y: -19.31%
• 3Y*: 24.85%
• 5Y*: -6.28%
• 10Y*: —

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

IPAY vs. ARKF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IPAY ETFMG Prime Mobile Payments ETF	-16.12%	-9.55%	25.88%	18.21%	-32.38%	-12.72%	34.22%	26.95%
ARKF ARK Fintech Innovation ETF	-18.35%	28.67%	34.34%	93.27%	-65.07%	-17.82%	108.03%	20.45%

Correlation

The correlation between IPAY and ARKF 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	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 4, 2019	0.82

The correlation between IPAY and ARKF has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

IPAY vs. ARKF - Sectors Allocation Comparison

Sectors	IPAY	ARKF
Technology	53.9%	39.4%
Financial Services	41.8%	25.5%
Industrials	4.3%	-
Basic Materials	-	-
Communication Services	-	9.6%
Consumer Cyclical	-	13.7%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

IPAY vs. ARKF — Risk / Return Rank

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

IPAY

IPAY Risk / Return Rank: 2
IPAY Sharpe Ratio Rank: 1
IPAY Sortino Ratio Rank: 2
IPAY Omega Ratio Rank: 2
IPAY Calmar Ratio Rank: 2
IPAY Martin Ratio Rank: 2

ARKF

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

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. ARKF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) and ARK Fintech Innovation ETF (ARKF). 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	ARKF	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	-0.58	-0.42
Sortino ratio: Return per unit of downside risk	-1.28	-0.63	-0.64
Omega ratio: Gain probability vs. loss probability	0.84	0.93	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.50	-0.26
Martin ratio: Return relative to average drawdown	-1.36	-0.90	-0.46

IPAY vs. ARKF - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -1.00, which is lower than the ARKF Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of IPAY and ARKF, 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. ARKF - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, smaller than the maximum ARKF drawdown of -78.63%. Use the drawdown chart below to compare losses from any high point for IPAY and ARKF.

Drawdown Indicators

	IPAY	ARKF	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-78.63%	+26.88%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-38.50%	+7.19%
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	-38.50%	+5.76%
Max Drawdown (5Y) Largest decline over 5 years	-51.49%	-75.30%	+23.81%
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	—	—
Current Drawdown Current decline from peak	-39.27%	-38.80%	-0.47%
Average Drawdown Average peak-to-trough decline	-16.77%	-34.96%	+18.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.46%	21.58%	-4.12%

Volatility

IPAY vs. ARKF - Volatility Comparison

The current volatility for ETFMG Prime Mobile Payments ETF (IPAY) is 7.88%, while ARK Fintech Innovation ETF (ARKF) has a volatility of 10.86%. This indicates that IPAY experiences smaller price fluctuations and is considered to be less risky than ARKF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAY	ARKF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	10.86%	-2.98%
Volatility (6M) Calculated over the trailing 6-month period	18.78%	25.24%	-6.46%
Volatility (1Y) Calculated over the trailing 1-year period	23.92%	33.47%	-9.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.15%	42.93%	-16.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.39%	39.75%	-14.36%

IPAY vs. ARKF - Expense Ratio Comparison

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

Dividends

IPAY vs. ARKF - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.94%, more than ARKF's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ARKF ARK Fintech Innovation ETF	0.11%	0.09%	0.00%	0.00%	0.00%	0.00%	0.37%	1.25%
IPAY ETFMG Prime Mobile Payments ETF	0.94%	0.79%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPAY and ARKF in my portfolio?

IPAY and ARKF 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, IPAY or ARKF?

ARKF has higher volatility (10.86%) compared to IPAY (7.88%). In terms of maximum drawdown, IPAY dropped -51.75% vs ARKF's -78.63%.

Which ETF is better, IPAY or ARKF?

On 5-year performance, ARKF leads with -6.28% vs -9.21% for IPAY. Both ETFs have the same 0.75% expense ratio. On volatility, IPAY has been the lower-risk option at 7.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAY or ARKF?

Over the 5-year period, ARKF has performed better with a -6.28% return vs -9.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAY or ARKF?

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

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

IPAY has the higher dividend yield at 0.94%, compared with 0.11% for ARKF.

What is the main difference between IPAY and ARKF?

IPAY is categorized as Technology Equities, while ARKF is Blockchain. They also come from different issuers: ETFMG and ARK.

Which has better risk-adjusted returns?

ARKF currently has the higher Sharpe Ratio (-0.58 vs -1.00), 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.