IRBO vs. CHAT

Last updated Aug 4, 2026

IRBO (iShares Future AI & Tech ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both Artificial Intelligence funds. IRBO is passively managed, while CHAT is actively managed. Over the past 3 years, IRBO returned 28.37%/yr vs 43.86%/yr for CHAT. Their correlation of 0.89 means they have usually moved in the same direction. IRBO charges 0.47%/yr vs 0.75%/yr for CHAT.

Performance

IRBO vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Future AI & Tech ETF (IRBO) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IRBO having a 43.11% return and CHAT slightly higher at 44.67%.

IRBO

• 1D: 3.39%
• 1M: -3.07%
• 6M: 32.62%
• YTD: 43.11%
• 1Y: 63.16%
• 3Y*: 28.37%
• 5Y*: 10.52%
• 10Y*: —
• ALL TIME*: 15.10%

CHAT

• 1D: 4.08%
• 1M: -3.93%
• 6M: 36.65%
• YTD: 44.67%
• 1Y: 75.75%
• 3Y*: 43.86%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 46.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CHAT Roundhill Generative AI & Technology ETF	$62.52M	$56.73M	$66.46M
IRBO iShares Future AI & Tech ETF	$35.64M	$36.90M	$59.33M

IRBO vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IRBO iShares Future AI & Tech ETF	43.11%	29.97%	8.02%	16.87%
CHAT Roundhill Generative AI & Technology ETF	44.67%	49.85%	30.98%	21.04%

Correlation

The correlation between IRBO and CHAT is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (All Time) Calculated using the full available price history since May 18, 2023	0.89

The correlation between IRBO and CHAT has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

IRBO vs. CHAT - Sectors Allocation Comparison

Sectors	IRBO	CHAT
Technology	83.8%	78.9%
Communication Services	5.5%	15.2%
Industrials	4.7%	3.6%
Utilities	3.2%	-
Consumer Cyclical	2.9%	2.3%
Real Estate	1.2%	-
Consumer Defensive	0.0%	-
Healthcare	0.0%	-
Basic Materials	-	-
Energy	-	-
Financial Services	-	0.0%

Return for Risk

IRBO vs. CHAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IRBO

IRBO Risk / Return Rank: 69
IRBO Sharpe Ratio Rank: 73
IRBO Sortino Ratio Rank: 64
IRBO Omega Ratio Rank: 65
IRBO Calmar Ratio Rank: 74
IRBO Martin Ratio Rank: 68

CHAT

CHAT Risk / Return Rank: 76
CHAT Sharpe Ratio Rank: 82
CHAT Sortino Ratio Rank: 72
CHAT Omega Ratio Rank: 74
CHAT Calmar Ratio Rank: 76
CHAT Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IRBO vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Future AI & Tech ETF (IRBO) and Roundhill Generative AI & Technology ETF (CHAT). 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.

	IRBO	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.94	-0.24
Sortino ratio: Return per unit of downside risk	2.18	2.36	-0.18
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.64	2.69	-0.04
Martin ratio: Return relative to average drawdown	8.49	9.40	-0.90

IRBO vs. CHAT - Sharpe Ratio Comparison

The current IRBO Sharpe Ratio is 1.70, which is comparable to the CHAT Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of IRBO and CHAT, 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

IRBO vs. CHAT - Drawdown Comparison

The maximum IRBO drawdown since its inception was -54.50%, which is greater than CHAT's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for IRBO and CHAT.

Drawdown Indicators

	IRBO	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-54.50%	-31.34%	-23.16%
Max Drawdown (1Y) Largest decline over 1 year	-24.00%	-28.34%	+4.34%
Max Drawdown (3Y) Largest decline over 3 years	-32.44%	-31.34%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-50.53%	—	—
Current Drawdown Current decline from peak	-14.61%	-18.04%	+3.43%
Average Drawdown Average peak-to-trough decline	-19.68%	-5.75%	-13.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	8.09%	-0.63%

Volatility

IRBO vs. CHAT - Volatility Comparison

The current volatility for iShares Future AI & Tech ETF (IRBO) is 14.41%, while Roundhill Generative AI & Technology ETF (CHAT) has a volatility of 16.63%. This indicates that IRBO experiences smaller price fluctuations and is considered to be less risky than CHAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRBO	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.41%	16.63%	-2.22%
Volatility (6M) Calculated over the trailing 6-month period	33.09%	34.48%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	37.42%	39.30%	-1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.34%	32.47%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.65%	32.47%	-3.82%

IRBO vs. CHAT - Expense Ratio Comparison

IRBO has a 0.47% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

IRBO vs. CHAT - Dividend Comparison

IRBO's dividend yield for the trailing twelve months is around 0.06%, less than CHAT's 1.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CHAT Roundhill Generative AI & Technology ETF	1.97%	2.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IRBO iShares Future AI & Tech ETF	0.06%	0.00%	0.50%	0.88%	0.75%	2.41%	0.53%	0.69%	0.34%

Frequently Asked Questions

Can I hold both IRBO and CHAT in my portfolio?

With a correlation of 0.91, IRBO and CHAT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IRBO or CHAT?

CHAT has higher volatility (16.63%) compared to IRBO (14.41%). In terms of maximum drawdown, IRBO dropped -54.50% vs CHAT's -31.34%.

Which ETF is better, IRBO or CHAT?

On 3-year performance, CHAT leads with 43.86% vs 28.37% for IRBO. On fees, IRBO is cheaper at 0.47% per year. On volatility, IRBO has been the lower-risk option at 14.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IRBO or CHAT?

Over the 3-year period, CHAT has performed better with a 43.86% return vs 28.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IRBO or CHAT?

IRBO is cheaper with a 0.47% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, IRBO or CHAT?

CHAT has the higher dividend yield at 1.97%, compared with 0.06% for IRBO.

What is the main difference between IRBO and CHAT?

They also come from different issuers: iShares and Roundhill. Their fees differ too: 0.47% for IRBO and 0.75% for CHAT.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (1.94 vs 1.70), 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.