PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ITA vs. FSLR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ITA vs. FSLR

Last updated Jun 14, 2026

ITA (iShares U.S. Aerospace & Defense ETF) is Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index, while FSLR (First Solar, Inc.) is a stock. Over the past 10 years, ITA returned 15.34%/yr vs 18.76%/yr for FSLR. At a 0.38 correlation, their price movements are largely independent.

Performance

ITA vs. FSLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Aerospace & Defense ETF (ITA) and First Solar, Inc. (FSLR). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ITA achieves a 8.97% return, which is significantly higher than FSLR's 2.33% return. Over the past 10 years, ITA has underperformed FSLR with an annualized return of 15.34%, while FSLR has yielded a comparatively higher 18.76% annualized return.

ITA

1D
-0.95%
1M
4.16%
YTD
8.97%
6M
11.71%
1Y
30.42%
3Y*
27.30%
5Y*
16.86%
10Y*
15.34%

FSLR

1D
-1.42%
1M
14.54%
YTD
2.33%
6M
4.91%
1Y
52.57%
3Y*
10.90%
5Y*
27.42%
10Y*
18.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ITA vs. FSLR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ITA
iShares U.S. Aerospace & Defense ETF		8.97%48.64%15.81%14.33%9.96%9.39%-13.57%30.51%-7.22%35.24%
FSLR
First Solar, Inc.		2.33%48.22%2.30%15.01%71.86%-11.89%76.77%31.81%-37.12%110.41%

Correlation

The correlation between ITA and FSLR is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.26

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (5Y)
Calculated over the trailing 5-year period

0.30

Correlation (10Y)
Calculated over the trailing 10-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Nov 17, 2006

0.38

The correlation between ITA and FSLR shifts across timeframes, from 0.24 (3 years) to 0.38 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Aerospace & Defense ETF

First Solar, Inc.

Often compared with ITA:
ITA vs. XARITA vs. PPAITA vs. SHLDITA vs. ARKXITA vs. VOOITA vs. FSDAXITA vs. DFEN
Often compared with FSLR:
FSLR vs. ENPHFSLR vs. NEEFSLR vs. NXTFSLR vs. TANFSLR vs. ELVFSLR vs. AMDFSLR vs. DKS

Return for Risk

ITA vs. FSLR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITA
ITA Risk / Return Rank: 4444
Overall Rank
ITA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
ITA Sortino Ratio Rank: 4848
Sortino Ratio Rank
ITA Omega Ratio Rank: 4343
Omega Ratio Rank
ITA Calmar Ratio Rank: 4545
Calmar Ratio Rank
ITA Martin Ratio Rank: 3838
Martin Ratio Rank
FSLR
FSLR Risk / Return Rank: 7272
Overall Rank
FSLR Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
FSLR Sortino Ratio Rank: 7070
Sortino Ratio Rank
FSLR Omega Ratio Rank: 7272
Omega Ratio Rank
FSLR Calmar Ratio Rank: 7474
Calmar Ratio Rank
FSLR Martin Ratio Rank: 7171
Martin Ratio Rank
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.

ITA vs. FSLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) and First Solar, Inc. (FSLR). 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.

ITAFSLRDifference
Sharpe ratioReturn per unit of total volatility
1.43
1.02

+0.41

Sortino ratioReturn per unit of downside risk
2.11
1.63

+0.48

Omega ratioGain probability vs. loss probability

1.25

1.22

+0.03

Calmar ratioReturn relative to maximum drawdown

1.97

1.70

+0.27

Martin ratioReturn relative to average drawdown

5.20

3.57

+1.63

ITA vs. FSLR - Sharpe Ratio Comparison

The current ITA Sharpe Ratio is 1.43, which is higher than the FSLR Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of ITA and FSLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

ITA vs. FSLR - Drawdown Comparison

The maximum ITA drawdown since its inception was -59.72%, smaller than the maximum FSLR drawdown of -96.22%. Use the drawdown chart below to compare losses from any high point for ITA and FSLR.

Loading charts...

Drawdown Indicators

ITAFSLRDifference

Max Drawdown

Largest peak-to-trough decline

-59.72%

-96.22%

+36.50%

Max Drawdown (1Y)

Largest decline over 1 year

-15.82%

-35.10%

+19.28%

Max Drawdown (3Y)

Largest decline over 3 years

-15.82%

-59.97%

+44.15%

Max Drawdown (5Y)

Largest decline over 5 years

-18.72%

-59.97%

+41.25%

Max Drawdown (10Y)

Largest decline over 10 years

-51.00%

-61.26%

+10.26%

Current Drawdown

Current decline from peak

-6.64%

-16.01%

+9.37%

Average Drawdown

Average peak-to-trough decline

-9.45%

-63.20%

+53.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.97%

16.63%

-10.66%

Volatility

ITA vs. FSLR - Volatility Comparison

The current volatility for iShares U.S. Aerospace & Defense ETF (ITA) is 9.07%, while First Solar, Inc. (FSLR) has a volatility of 23.37%. This indicates that ITA experiences smaller price fluctuations and is considered to be less risky than FSLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ITAFSLRDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.07%

23.37%

-14.30%

Volatility (6M)

Calculated over the trailing 6-month period

18.47%

41.98%

-23.51%

Volatility (1Y)

Calculated over the trailing 1-year period

21.74%

58.23%

-36.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.21%

54.07%

-33.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.22%

50.84%

-27.62%

Dividends

ITA vs. FSLR - Dividend Comparison

ITA's dividend yield for the trailing twelve months is around 0.46%, while FSLR has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FSLR
First Solar, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ITA
iShares U.S. Aerospace & Defense ETF		0.46%0.55%0.85%0.93%0.95%0.82%1.07%1.54%1.13%0.91%1.07%1.04%

Frequently Asked Questions

ITA and FSLR have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FSLR has higher volatility (23.37%) compared to ITA (9.07%). In terms of maximum drawdown, ITA dropped -59.72% vs FSLR's -96.22%.

ITA currently has the higher Sharpe Ratio (1.43 vs 1.02), 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.

Portfolio Optimizer

Find the right allocation for ITA and FSLR

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer