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MAKX vs. EXI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MAKX vs. EXI

Last updated Aug 2, 2026
Documentation

MAKX (ProShares S&P Kensho Smart Factories ETF) and EXI (iShares Global Industrials ETF) are both exchange-traded funds - MAKX is a Technology Equities fund tracking the S&P Kensho Smart Factories Index, while EXI is a Industrials Equities fund tracking the S&P Global 1200 / Industrials -SEC. Both are passively managed. Over the past 3 years, MAKX returned 20.16%/yr vs 18.99%/yr for EXI. Their 0.76 correlation means they have sometimes moved together and sometimes differently. MAKX charges 0.58%/yr vs 0.43%/yr for EXI.

Performance

MAKX vs. EXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Kensho Smart Factories ETF (MAKX) and iShares Global Industrials ETF (EXI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MAKX achieves a 30.73% return, which is significantly higher than EXI's 13.74% return.

MAKX

1D
2.03%
1M
-4.52%
6M
21.32%
YTD
30.73%
1Y
39.25%
3Y*
20.16%
5Y*
—
10Y*
—
ALL TIME*
10.87%

EXI

1D
0.52%
1M
-1.08%
6M
6.20%
YTD
13.74%
1Y
21.21%
3Y*
18.99%
5Y*
12.03%
10Y*
12.52%
ALL TIME*
8.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EXI

iShares Global Industrials ETF
$7.80M$7.11M$10.88M

MAKX

ProShares S&P Kensho Smart Factories ETF
$87.07K$94.68K$155.23K

MAKX vs. EXI - Yearly Performance Comparison

2026 (YTD)20252024202320222021
MAKX
ProShares S&P Kensho Smart Factories ETF		30.73%21.63%8.27%26.03%-26.41%3.10%
EXI
iShares Global Industrials ETF		13.74%25.88%12.47%22.04%-12.36%4.57%

Correlation

The correlation between MAKX and EXI is 0.71, 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.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.71

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2021

0.76

The correlation between MAKX and EXI has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

MAKX vs. EXI - Sectors Allocation Comparison

Sectors
MAKX
EXI

Technology

62.8%
4.1%

Industrials

26.2%
94.4%

Communication Services

8.9%
1.0%

Basic Materials

2.0%
0.1%

Consumer Cyclical

-

0.2%

Consumer Defensive

-

0.1%

Energy

-

-

Financial Services

-

0.1%

Healthcare

-

-

Real Estate

-

-

Utilities

-

2.6%

Technology

MAKX
62.8%
EXI
4.1%

Industrials

MAKX
26.2%
EXI
94.4%

Communication Services

MAKX
8.9%
EXI
1.0%

Basic Materials

MAKX
2.0%
EXI
0.1%

Consumer Cyclical

MAKX

-

EXI
0.2%

Consumer Defensive

MAKX

-

EXI
0.1%

Energy

MAKX

-

EXI

-

Financial Services

MAKX

-

EXI
0.1%

Healthcare

MAKX

-

EXI

-

Real Estate

MAKX

-

EXI

-

Utilities

MAKX

-

EXI
2.6%

Compare stocks, funds, or ETFs

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

ProShares S&P Kensho Smart Factories ETF

iShares Global Industrials ETF

Often compared with MAKX:
MAKX vs. BOTZMAKX vs. SUPLMAKX vs. FIDUMAKX vs. TIMEMAKX vs. PRNMAKX vs. AIRRMAKX vs. GDE
Often compared with EXI:
EXI vs. XLIEXI vs. FIDUEXI vs. IYJEXI vs. PSCCEXI vs. KXIEXI vs. SPYEXI vs. IEFA

Return for Risk

MAKX vs. EXI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MAKX
MAKX Risk / Return Rank: 4545
Overall Rank
MAKX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
MAKX Sortino Ratio Rank: 4343
Sortino Ratio Rank
MAKX Omega Ratio Rank: 4141
Omega Ratio Rank
MAKX Calmar Ratio Rank: 5252
Calmar Ratio Rank
MAKX Martin Ratio Rank: 4747
Martin Ratio Rank
EXI
EXI Risk / Return Rank: 4848
Overall Rank
EXI Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
EXI Sortino Ratio Rank: 4848
Sortino Ratio Rank
EXI Omega Ratio Rank: 4747
Omega Ratio Rank
EXI Calmar Ratio Rank: 4545
Calmar Ratio Rank
EXI Martin Ratio Rank: 5353
Martin Ratio Rank
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.

MAKX vs. EXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Smart Factories ETF (MAKX) and iShares Global Industrials ETF (EXI). 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.

MAKXEXIDifference
Sharpe ratioReturn per unit of total volatility
1.07
1.16

-0.09

Sortino ratioReturn per unit of downside risk
1.60
1.72

-0.12

Omega ratioGain probability vs. loss probability

1.19

1.21

-0.02

Calmar ratioReturn relative to maximum drawdown

1.86

1.60

+0.25

Martin ratioReturn relative to average drawdown

5.49

6.21

-0.72

MAKX vs. EXI - Sharpe Ratio Comparison

The current MAKX Sharpe Ratio is 1.07, which is comparable to the EXI Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of MAKX and EXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MAKX vs. EXI - Drawdown Comparison

The maximum MAKX drawdown since its inception was -40.27%, smaller than the maximum EXI drawdown of -62.60%. Use the drawdown chart below to compare losses from any high point for MAKX and EXI.

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Drawdown Indicators

MAKXEXIDifference

Max Drawdown

Largest peak-to-trough decline

-40.27%

-62.60%

+22.33%

Max Drawdown (1Y)

Largest decline over 1 year

-19.36%

-12.35%

-7.01%

Max Drawdown (3Y)

Largest decline over 3 years

-29.76%

-14.38%

-15.38%

Max Drawdown (5Y)

Largest decline over 5 years

—

-27.23%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.56%

—

Current Drawdown

Current decline from peak

-12.67%

-2.36%

-10.31%

Average Drawdown

Average peak-to-trough decline

-16.34%

-9.90%

-6.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.54%

3.19%

+3.35%

Volatility

MAKX vs. EXI - Volatility Comparison

ProShares S&P Kensho Smart Factories ETF (MAKX) has a higher volatility of 13.58% compared to iShares Global Industrials ETF (EXI) at 4.87%. This indicates that MAKX's price experiences larger fluctuations and is considered to be riskier than EXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MAKXEXIDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.58%

4.87%

+8.71%

Volatility (6M)

Calculated over the trailing 6-month period

26.57%

14.50%

+12.07%

Volatility (1Y)

Calculated over the trailing 1-year period

33.62%

17.01%

+16.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.06%

17.17%

+11.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.06%

18.36%

+10.70%

MAKX vs. EXI - Expense Ratio Comparison

MAKX has a 0.58% expense ratio, which is higher than EXI's 0.43% expense ratio.

Dividends

MAKX vs. EXI - Dividend Comparison

MAKX's dividend yield for the trailing twelve months is around 0.14%, less than EXI's 1.07% yield.

PositionTTM20252024202320222021202020192018201720162015
EXI
iShares Global Industrials ETF		1.07%1.32%1.47%1.84%1.63%1.42%1.26%1.72%2.21%1.48%1.75%1.95%
MAKX
ProShares S&P Kensho Smart Factories ETF		0.14%0.15%0.24%0.52%0.31%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

MAKX and EXI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MAKX has higher volatility (13.58%) compared to EXI (4.87%). In terms of maximum drawdown, MAKX dropped -40.27% vs EXI's -62.60%.

On 3-year performance, MAKX leads with 20.16% vs 18.99% for EXI. On fees, EXI is cheaper at 0.43% per year. On volatility, EXI has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, MAKX has performed better with a 20.16% return vs 18.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EXI is cheaper with a 0.43% expense ratio, compared with 0.58% for MAKX.

EXI has the higher dividend yield at 1.07%, compared with 0.14% for MAKX.

MAKX is categorized as Technology Equities, while EXI is Industrials Equities. MAKX tracks S&P Kensho Smart Factories Index, while EXI tracks S&P Global 1200 / Industrials -SEC. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.58% for MAKX and 0.43% for EXI.

EXI currently has the higher Sharpe Ratio (1.16 vs 1.07), 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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