IPAY vs. AXP

Last updated Jul 14, 2026

IPAY (ETFMG Prime Mobile Payments ETF) is Technology Equities fund tracking the Prime Mobile Payments Index, while AXP (American Express Company) is a stock. Over the past 10 years, IPAY returned 7.30%/yr vs 20.35%/yr for AXP. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

IPAY vs. AXP - Performance Comparison

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

Returns By Period

In the year-to-date period, IPAY achieves a -6.74% return, which is significantly lower than AXP's -3.42% return. Over the past 10 years, IPAY has underperformed AXP with an annualized return of 7.30%, while AXP has yielded a comparatively higher 20.35% annualized return.

IPAY

• 1D: 0.52%
• 1M: 10.84%
• 6M: -8.01%
• YTD: -6.74%
• 1Y: -16.92%
• 3Y*: 3.38%
• 5Y*: -7.06%
• 10Y*: 7.30%

AXP

• 1D: 1.10%
• 1M: 9.21%
• 6M: -0.85%
• YTD: -3.42%
• 1Y: 12.13%
• 3Y*: 28.39%
• 5Y*: 16.90%
• 10Y*: 20.35%

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

IPAY vs. AXP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPAY ETFMG Prime Mobile Payments ETF	-6.74%	-9.55%	25.88%	18.21%	-32.38%	-12.72%	34.22%	41.80%	0.17%	36.34%
AXP American Express Company	-3.42%	25.99%	60.32%	28.67%	-8.52%	36.88%	-1.14%	32.52%	-2.62%	36.22%

Correlation

The correlation between IPAY and AXP is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jul 16, 2015	0.67

The correlation between IPAY and AXP has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

Return for Risk

IPAY vs. AXP — 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: 4
IPAY Sortino Ratio Rank: 4
IPAY Omega Ratio Rank: 4
IPAY Calmar Ratio Rank: 5
IPAY Martin Ratio Rank: 5

AXP

AXP Risk / Return Rank: 57
AXP Sharpe Ratio Rank: 61
AXP Sortino Ratio Rank: 54
AXP Omega Ratio Rank: 55
AXP Calmar Ratio Rank: 58
AXP Martin Ratio Rank: 58

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. AXP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) and American Express Company (AXP). 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	AXP	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	0.46	-1.16
Sortino ratio: Return per unit of downside risk	-0.82	0.78	-1.61
Omega ratio: Gain probability vs. loss probability	0.90	1.10	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.54	0.51	-1.05
Martin ratio: Return relative to average drawdown	-0.93	1.07	-2.00

IPAY vs. AXP - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -0.70, which is lower than the AXP Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of IPAY and AXP, 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. AXP - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, smaller than the maximum AXP drawdown of -83.91%. Use the drawdown chart below to compare losses from any high point for IPAY and AXP.

Drawdown Indicators

	IPAY	AXP	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-83.91%	+32.16%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-23.90%	-7.41%
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	-28.76%	-3.98%
Max Drawdown (5Y) Largest decline over 5 years	-51.49%	-31.55%	-19.94%
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	-49.64%	-2.11%
Current Drawdown Current decline from peak	-32.48%	-7.16%	-25.32%
Average Drawdown Average peak-to-trough decline	-16.85%	-22.03%	+5.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.16%	11.37%	+6.79%

Volatility

IPAY vs. AXP - Volatility Comparison

ETFMG Prime Mobile Payments ETF (IPAY) and American Express Company (AXP) have volatilities of 7.48% and 7.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAY	AXP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	7.66%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	19.70%	20.86%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	24.39%	26.61%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.28%	29.52%	-3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	31.78%	-6.40%

Dividends

IPAY vs. AXP - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.85%, less than AXP's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXP American Express Company	1.00%	0.85%	0.91%	1.24%	1.35%	1.05%	1.42%	1.29%	1.51%	1.32%	1.61%	1.58%
IPAY ETFMG Prime Mobile Payments ETF	0.85%	0.79%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPAY and AXP in my portfolio?

IPAY and AXP have a correlation of 0.70, 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 AXP?

AXP has higher volatility (7.66%) compared to IPAY (7.48%). In terms of maximum drawdown, IPAY dropped -51.75% vs AXP's -83.91%.

Which has better risk-adjusted returns?

AXP currently has the higher Sharpe Ratio (0.46 vs -0.70), 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.