IRBO vs. FAI
IRBO (iShares Future AI & Tech ETF) and FAI (First Trust Bloomberg Artificial Intelligence ETF) are both Artificial Intelligence funds - IRBO tracks the Morningstar Global Artificial Intelligence Select Index while FAI tracks the Bloomberg Artificial Intelligence Index. Both are passively managed. Over the past year, IRBO returned 63.16% vs 44.67% for FAI. Their correlation of 0.93 means they have usually moved in the same direction. IRBO charges 0.47%/yr vs 0.65%/yr for FAI.
Performance
IRBO vs. FAI - Performance Comparison
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Returns By Period
In the year-to-date period, IRBO achieves a 43.11% return, which is significantly higher than FAI's 26.88% return.
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%
FAI
- 1D
- 3.09%
- 1M
- 1.06%
- 6M
- 24.84%
- YTD
- 26.88%
- 1Y
- 44.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 38.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.47M | $2.87M | $3.61M | |
| $35.64M | $36.90M | $59.33M |
IRBO vs. FAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IRBO iShares Future AI & Tech ETF | 43.11% | 29.97% | 3.59% |
FAI First Trust Bloomberg Artificial Intelligence ETF | 26.88% | 33.37% | 2.28% |
Correlation
The correlation between IRBO and FAI is 0.92, 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. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024 | 0.93 |
The correlation between IRBO and FAI has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
IRBO vs. FAI — Risk / Return Rank
IRBO
FAI
IRBO vs. FAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future AI & Tech ETF (IRBO) and First Trust Bloomberg Artificial Intelligence ETF (FAI). 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 | FAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.38 | +0.26 |
| Martin ratioReturn relative to average drawdown | 8.49 | 6.18 | +2.31 |
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Drawdowns
IRBO vs. FAI - Drawdown Comparison
The maximum IRBO drawdown since its inception was -54.50%, which is greater than FAI's maximum drawdown of -27.82%. Use the drawdown chart below to compare losses from any high point for IRBO and FAI.
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Drawdown Indicators
| IRBO | FAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.50% | -27.82% | -26.68% |
Max Drawdown (1Y)Largest decline over 1 year | -24.00% | -18.84% | -5.16% |
Max Drawdown (3Y)Largest decline over 3 years | -32.44% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -50.53% | — | — |
Current DrawdownCurrent decline from peak | -14.61% | -9.88% | -4.73% |
Average DrawdownAverage peak-to-trough decline | -19.68% | -5.78% | -13.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 7.25% | +0.21% |
Volatility
IRBO vs. FAI - Volatility Comparison
iShares Future AI & Tech ETF (IRBO) has a higher volatility of 14.41% compared to First Trust Bloomberg Artificial Intelligence ETF (FAI) at 10.22%. This indicates that IRBO's price experiences larger fluctuations and is considered to be riskier than FAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRBO | FAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.41% | 10.22% | +4.19% |
Volatility (6M)Calculated over the trailing 6-month period | 33.09% | 24.76% | +8.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.42% | 29.25% | +8.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.34% | 31.34% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.65% | 31.34% | -2.69% |
IRBO vs. FAI - Expense Ratio Comparison
IRBO has a 0.47% expense ratio, which is lower than FAI's 0.65% expense ratio.
Dividends
IRBO vs. FAI - Dividend Comparison
IRBO's dividend yield for the trailing twelve months is around 0.06%, while FAI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FAI First Trust Bloomberg Artificial Intelligence ETF | 0.00% | 0.00% | 0.04% | 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
With a correlation of 0.92, IRBO and FAI 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.
IRBO has higher volatility (14.41%) compared to FAI (10.22%). In terms of maximum drawdown, IRBO dropped -54.50% vs FAI's -27.82%.
On 1-year performance, IRBO leads with 63.16% vs 44.67% for FAI. On fees, IRBO is cheaper at 0.47% per year. On volatility, FAI has been the lower-risk option at 10.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IRBO has performed better with a 63.16% return vs 44.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IRBO is cheaper with a 0.47% expense ratio, compared with 0.65% for FAI.
IRBO has the higher dividend yield at 0.06%, compared with 0.00% for FAI.
IRBO tracks Morningstar Global Artificial Intelligence Select Index, while FAI tracks Bloomberg Artificial Intelligence Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.47% for IRBO and 0.65% for FAI.
IRBO currently has the higher Sharpe Ratio (1.70 vs 1.54), 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.
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