LASR vs. PSI

Last updated Aug 4, 2026

LASR (nLIGHT, Inc.) is a stock, while PSI (Invesco Semiconductors ETF) is Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. Over the past 5 years, LASR returned 17.47%/yr vs 26.49%/yr for PSI. Their 0.60 correlation means they have sometimes moved together and sometimes differently.

Performance

LASR vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in nLIGHT, Inc. (LASR) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LASR achieves a 86.91% return, which is significantly higher than PSI's 76.39% return.

LASR

• 1D: 1.90%
• 1M: 10.85%
• 6M: 45.82%
• YTD: 86.91%
• 1Y: 248.63%
• 3Y*: 80.97%
• 5Y*: 17.47%
• 10Y*: —
• ALL TIME*: 14.43%

PSI

• 1D: 1.93%
• 1M: -11.98%
• 6M: 45.93%
• YTD: 76.39%
• 1Y: 136.90%
• 3Y*: 44.83%
• 5Y*: 26.49%
• 10Y*: 30.54%
• ALL TIME*: 17.57%

*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)
LASR nLIGHT, Inc.	$58.63M	$74.10M	$89.15M
PSI Invesco Semiconductors ETF	$73.94M	$63.66M	$74.26M

LASR vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LASR nLIGHT, Inc.	86.91%	257.58%	-22.30%	33.14%	-57.66%	-26.65%	61.00%	14.06%	-22.70%
PSI Invesco Semiconductors ETF	76.39%	36.32%	17.17%	49.06%	-34.43%	46.55%	56.75%	52.49%	-9.45%

Correlation

The correlation between LASR and PSI is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018	0.60

The correlation between LASR and PSI has been stable across timeframes, ranging from 0.60 to 0.69 - a consistent structural relationship.

Return for Risk

LASR vs. PSI — Risk / Return Rank

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

LASR

LASR Risk / Return Rank: 95
LASR Sharpe Ratio Rank: 97
LASR Sortino Ratio Rank: 94
LASR Omega Ratio Rank: 91
LASR Calmar Ratio Rank: 98
LASR Martin Ratio Rank: 98

PSI

PSI Risk / Return Rank: 90
PSI Sharpe Ratio Rank: 95
PSI Sortino Ratio Rank: 87
PSI Omega Ratio Rank: 87
PSI Calmar Ratio Rank: 90
PSI Martin Ratio Rank: 93

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.

LASR vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for nLIGHT, Inc. (LASR) and Invesco Semiconductors ETF (PSI). 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.

	LASR	PSI	Difference
Sharpe ratio: Return per unit of total volatility	2.91	2.76	+0.15
Sortino ratio: Return per unit of downside risk	3.21	2.94	+0.27
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	8.10	3.85	+4.24
Martin ratio: Return relative to average drawdown	22.47	17.24	+5.23

LASR vs. PSI - Sharpe Ratio Comparison

The current LASR Sharpe Ratio is 2.91, which is comparable to the PSI Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of LASR and PSI, 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

LASR vs. PSI - Drawdown Comparison

The maximum LASR drawdown since its inception was -85.66%, which is greater than PSI's maximum drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for LASR and PSI.

Drawdown Indicators

	LASR	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-85.66%	-62.96%	-22.70%
Max Drawdown (1Y) Largest decline over 1 year	-30.92%	-35.74%	+4.82%
Max Drawdown (3Y) Largest decline over 3 years	-56.13%	-41.07%	-15.06%
Max Drawdown (5Y) Largest decline over 5 years	-80.47%	-44.85%	-35.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.85%	—
Current Drawdown Current decline from peak	-17.47%	-25.95%	+8.48%
Average Drawdown Average peak-to-trough decline	-52.14%	-15.92%	-36.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.12%	7.97%	+3.15%

Volatility

LASR vs. PSI - Volatility Comparison

nLIGHT, Inc. (LASR) has a higher volatility of 35.15% compared to Invesco Semiconductors ETF (PSI) at 22.74%. This indicates that LASR's price experiences larger fluctuations and is considered to be riskier than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LASR	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.15%	22.74%	+12.41%
Volatility (6M) Calculated over the trailing 6-month period	69.34%	43.67%	+25.67%
Volatility (1Y) Calculated over the trailing 1-year period	86.35%	50.08%	+36.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.19%	40.62%	+26.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.51%	36.57%	+30.94%

Dividends

LASR vs. PSI - Dividend Comparison

LASR has not paid dividends to shareholders, while PSI's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LASR nLIGHT, 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%
PSI Invesco Semiconductors ETF	0.03%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%

Frequently Asked Questions

Can I hold both LASR and PSI in my portfolio?

LASR and PSI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LASR or PSI?

LASR has higher volatility (35.15%) compared to PSI (22.74%). In terms of maximum drawdown, LASR dropped -85.66% vs PSI's -62.96%.

Which has better risk-adjusted returns?

LASR currently has the higher Sharpe Ratio (2.91 vs 2.76), 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.