ITEQ vs. IPAY

Last updated Jun 24, 2026

ITEQ (BlueStar Israel Technology ETF) and IPAY (ETFMG Prime Mobile Payments ETF) are both Technology Equities funds from ETFMG - ITEQ tracks the BlueStar Israel Global Technology Index while IPAY tracks the Prime Mobile Payments Index. Both are passively managed. Over the past 10 years, ITEQ returned 10.76%/yr vs 6.77%/yr for IPAY. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

ITEQ vs. IPAY - Performance Comparison

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

Returns By Period

In the year-to-date period, ITEQ achieves a 10.21% return, which is significantly higher than IPAY's -16.12% return. Over the past 10 years, ITEQ has outperformed IPAY with an annualized return of 10.76%, while IPAY has yielded a comparatively lower 6.77% annualized return.

ITEQ

• 1D: -1.92%
• 1M: -2.89%
• YTD: 10.21%
• 6M: 8.98%
• 1Y: 19.31%
• 3Y*: 12.40%
• 5Y*: -1.70%
• 10Y*: 10.76%

IPAY

• 1D: -0.55%
• 1M: -3.52%
• YTD: -16.12%
• 6M: -17.27%
• 1Y: -23.67%
• 3Y*: 2.21%
• 5Y*: -9.21%
• 10Y*: 6.77%

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

ITEQ vs. IPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITEQ BlueStar Israel Technology ETF	10.21%	13.71%	11.70%	4.70%	-30.36%	-8.04%	58.96%	37.59%	-0.63%	26.87%
IPAY ETFMG Prime Mobile Payments ETF	-16.12%	-9.55%	25.88%	18.21%	-32.38%	-12.72%	34.22%	41.80%	0.17%	36.34%

Correlation

The correlation between ITEQ and IPAY is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 3, 2015	0.74

The correlation between ITEQ and IPAY shifts across timeframes, from 0.61 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

ITEQ vs. IPAY - Sectors Allocation Comparison

Sectors	ITEQ	IPAY
Technology	59.0%	53.9%
Industrials	17.0%	4.3%
Utilities	9.1%	-
Financial Services	5.4%	41.8%
Consumer Cyclical	3.4%	-
Healthcare	2.5%	-
Energy	1.6%	-
Communication Services	1.4%	-
Basic Materials	-	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

ITEQ vs. IPAY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ITEQ

ITEQ Risk / Return Rank: 26
ITEQ Sharpe Ratio Rank: 24
ITEQ Sortino Ratio Rank: 24
ITEQ Omega Ratio Rank: 22
ITEQ Calmar Ratio Rank: 31
ITEQ Martin Ratio Rank: 29

IPAY

IPAY Risk / Return Rank: 2
IPAY Sharpe Ratio Rank: 1
IPAY Sortino Ratio Rank: 2
IPAY Omega Ratio Rank: 2
IPAY Calmar Ratio Rank: 2
IPAY Martin Ratio Rank: 2

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.

ITEQ vs. IPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlueStar Israel Technology ETF (ITEQ) and ETFMG Prime Mobile Payments ETF (IPAY). 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.

	ITEQ	IPAY	Difference
Sharpe ratio: Return per unit of total volatility	0.81	-1.00	+1.81
Sortino ratio: Return per unit of downside risk	1.24	-1.28	+2.52
Omega ratio: Gain probability vs. loss probability	1.15	0.84	+0.30
Calmar ratio: Return relative to maximum drawdown	1.48	-0.76	+2.24
Martin ratio: Return relative to average drawdown	3.81	-1.36	+5.17

ITEQ vs. IPAY - Sharpe Ratio Comparison

The current ITEQ Sharpe Ratio is 0.81, which is higher than the IPAY Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of ITEQ and IPAY, 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

ITEQ vs. IPAY - Drawdown Comparison

The maximum ITEQ drawdown since its inception was -54.63%, which is greater than IPAY's maximum drawdown of -51.75%. Use the drawdown chart below to compare losses from any high point for ITEQ and IPAY.

Drawdown Indicators

	ITEQ	IPAY	Difference
Max Drawdown Largest peak-to-trough decline	-54.63%	-51.75%	-2.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-31.31%	+18.24%
Max Drawdown (3Y) Largest decline over 3 years	-26.78%	-32.74%	+5.96%
Max Drawdown (5Y) Largest decline over 5 years	-50.29%	-51.49%	+1.20%
Max Drawdown (10Y) Largest decline over 10 years	-54.63%	-51.75%	-2.88%
Current Drawdown Current decline from peak	-18.35%	-39.27%	+20.92%
Average Drawdown Average peak-to-trough decline	-18.50%	-16.77%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.08%	17.46%	-12.38%

Volatility

ITEQ vs. IPAY - Volatility Comparison

BlueStar Israel Technology ETF (ITEQ) has a higher volatility of 10.20% compared to ETFMG Prime Mobile Payments ETF (IPAY) at 7.88%. This indicates that ITEQ's price experiences larger fluctuations and is considered to be riskier than IPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITEQ	IPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.20%	7.88%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	18.83%	18.78%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	23.89%	23.92%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.20%	26.15%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.49%	25.39%	-1.90%

ITEQ vs. IPAY - Expense Ratio Comparison

Both ITEQ and IPAY have an expense ratio of 0.75%.

Dividends

ITEQ vs. IPAY - Dividend Comparison

ITEQ's dividend yield for the trailing twelve months is around 0.77%, less than IPAY's 0.94% yield.

Position	TTM	2025	2024
IPAY ETFMG Prime Mobile Payments ETF	0.94%	0.79%	0.77%
ITEQ BlueStar Israel Technology ETF	0.77%	0.85%	0.01%

Frequently Asked Questions

Can I hold both ITEQ and IPAY in my portfolio?

ITEQ and IPAY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITEQ or IPAY?

ITEQ has higher volatility (10.20%) compared to IPAY (7.88%). In terms of maximum drawdown, ITEQ dropped -54.63% vs IPAY's -51.75%.

Which ETF is better, ITEQ or IPAY?

On 10-year performance, ITEQ leads with 10.76% vs 6.77% for IPAY. Both ETFs have the same 0.75% expense ratio. On volatility, IPAY has been the lower-risk option at 7.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITEQ or IPAY?

Over the 10-year period, ITEQ has performed better with a 10.76% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITEQ or IPAY?

ITEQ and IPAY have the same expense ratio: 0.75% per year.

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

IPAY has the higher dividend yield at 0.94%, compared with 0.77% for ITEQ.

What is the main difference between ITEQ and IPAY?

ITEQ tracks BlueStar Israel Global Technology Index, while IPAY tracks Prime Mobile Payments Index.

Which has better risk-adjusted returns?

ITEQ currently has the higher Sharpe Ratio (0.81 vs -1.00), 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.