IPAY vs. BPAY

Last updated Jul 14, 2026

IPAY (ETFMG Prime Mobile Payments ETF) and BPAY (BlackRock Future Financial and Technology ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while BPAY is a Financials Equities fund actively managed by BlackRock. IPAY is passively managed, while BPAY is actively managed. Over the past 3 years, IPAY returned 3.38%/yr vs 10.10%/yr for BPAY. Their correlation of 0.90 suggests significant overlap in exposure. IPAY charges 0.75%/yr vs 0.70%/yr for BPAY.

Performance

IPAY vs. BPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) and BlackRock Future Financial and Technology ETF (BPAY). 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 BPAY's -2.19% 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%

BPAY

• 1D: -1.19%
• 1M: 10.36%
• 6M: -5.00%
• YTD: -2.19%
• 1Y: -11.61%
• 3Y*: 10.10%
• 5Y*: —
• 10Y*: —

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

IPAY vs. BPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IPAY ETFMG Prime Mobile Payments ETF	-6.74%	-9.55%	25.88%	18.21%	-15.28%
BPAY BlackRock Future Financial and Technology ETF	-2.19%	8.54%	17.28%	13.19%	-16.32%

Correlation

The correlation between IPAY and BPAY is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022	0.90

The correlation between IPAY and BPAY has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

IPAY vs. BPAY - Sectors Allocation Comparison

Sectors	IPAY	BPAY
Technology	53.9%	30.5%
Financial Services	41.8%	58.0%
Industrials	4.3%	5.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	6.4%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	2.2%
Utilities	-	-

Return for Risk

IPAY vs. BPAY — 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

BPAY

BPAY Risk / Return Rank: 6
BPAY Sharpe Ratio Rank: 6
BPAY Sortino Ratio Rank: 5
BPAY Omega Ratio Rank: 5
BPAY Calmar Ratio Rank: 6
BPAY Martin Ratio Rank: 6

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. BPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) and BlackRock Future Financial and Technology ETF (BPAY). 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	BPAY	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	-0.45	-0.25
Sortino ratio: Return per unit of downside risk	-0.82	-0.46	-0.37
Omega ratio: Gain probability vs. loss probability	0.90	0.95	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.54	-0.35	-0.20
Martin ratio: Return relative to average drawdown	-0.93	-0.63	-0.30

IPAY vs. BPAY - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -0.70, which is lower than the BPAY Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of IPAY and BPAY, 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. BPAY - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, which is greater than BPAY's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for IPAY and BPAY.

Drawdown Indicators

	IPAY	BPAY	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-33.62%	-18.13%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-33.62%	+2.31%
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	-33.62%	+0.88%
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	-32.48%	-17.37%	-15.11%
Average Drawdown Average peak-to-trough decline	-16.85%	-10.83%	-6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.16%	18.39%	-0.23%

Volatility

IPAY vs. BPAY - Volatility Comparison

ETFMG Prime Mobile Payments ETF (IPAY) and BlackRock Future Financial and Technology ETF (BPAY) have volatilities of 7.48% and 7.54%, 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	BPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	7.54%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	19.70%	20.21%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	24.39%	26.17%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.28%	24.51%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	24.51%	+0.87%

IPAY vs. BPAY - Expense Ratio Comparison

IPAY has a 0.75% expense ratio, which is higher than BPAY's 0.70% expense ratio.

Dividends

IPAY vs. BPAY - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.85%, less than BPAY's 6.93% yield.

Position	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	6.93%	6.49%	0.48%	1.18%	0.18%
IPAY ETFMG Prime Mobile Payments ETF	0.85%	0.79%	0.77%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPAY and BPAY in my portfolio?

IPAY and BPAY have a correlation of 0.89, 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 BPAY?

BPAY has higher volatility (7.54%) compared to IPAY (7.48%). In terms of maximum drawdown, IPAY dropped -51.75% vs BPAY's -33.62%.

Which ETF is better, IPAY or BPAY?

On 3-year performance, BPAY leads with 10.10% vs 3.38% for IPAY. On fees, BPAY is cheaper at 0.70% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAY or BPAY?

Over the 3-year period, BPAY has performed better with a 10.10% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAY or BPAY?

BPAY is cheaper with a 0.70% expense ratio, compared with 0.75% for IPAY.

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

BPAY has the higher dividend yield at 6.93%, compared with 0.85% for IPAY.

What is the main difference between IPAY and BPAY?

IPAY is categorized as Technology Equities, while BPAY is Financials Equities. They also come from different issuers: ETFMG and BlackRock. Their fees differ too: 0.75% for IPAY and 0.70% for BPAY.

Which has better risk-adjusted returns?

BPAY currently has the higher Sharpe Ratio (-0.45 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.