MSFH.TO vs. INAI.TO

Last updated Jul 16, 2026

MSFH.TO (Harvest Microsoft High Income Shares ETF Class A Units) and INAI.TO (Invesco Morningstar Global Next Gen AI Index ETF) are both Technology Equities funds. MSFH.TO is actively managed, while INAI.TO is passively managed. Over the past year, MSFH.TO returned -16.47% vs 39.33% for INAI.TO. At a 0.40 correlation, their price movements are largely independent.

Performance

MSFH.TO vs. INAI.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Harvest Microsoft High Income Shares ETF Class A Units (MSFH.TO) and Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFH.TO achieves a -14.71% return, which is significantly lower than INAI.TO's 27.50% return.

MSFH.TO

• 1D: 2.09%
• 1M: -0.58%
• 6M: -11.58%
• YTD: -14.71%
• 1Y: -16.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

INAI.TO

• 1D: -1.15%
• 1M: -5.79%
• 6M: 21.81%
• YTD: 27.50%
• 1Y: 39.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFH.TO vs. INAI.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFH.TO Harvest Microsoft High Income Shares ETF Class A Units	-14.71%	6.58%	5.90%
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF	27.50%	24.92%	17.53%

Correlation

The correlation between MSFH.TO and INAI.TO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	0.40

Return for Risk

MSFH.TO vs. INAI.TO — Risk / Return Rank

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

MSFH.TO

MSFH.TO Risk / Return Rank: 4
MSFH.TO Sharpe Ratio Rank: 4
MSFH.TO Sortino Ratio Rank: 4
MSFH.TO Omega Ratio Rank: 4
MSFH.TO Calmar Ratio Rank: 5
MSFH.TO Martin Ratio Rank: 5

INAI.TO

INAI.TO Risk / Return Rank: 41
INAI.TO Sharpe Ratio Rank: 47
INAI.TO Sortino Ratio Rank: 42
INAI.TO Omega Ratio Rank: 46
INAI.TO Calmar Ratio Rank: 37
INAI.TO Martin Ratio Rank: 33

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.

MSFH.TO vs. INAI.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harvest Microsoft High Income Shares ETF Class A Units (MSFH.TO) and Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO). 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.

	MSFH.TO	INAI.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.68	1.34	-2.03
Sortino ratio: Return per unit of downside risk	-0.82	1.79	-2.61
Omega ratio: Gain probability vs. loss probability	0.90	1.24	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.54	1.56	-2.10
Martin ratio: Return relative to average drawdown	-0.97	4.02	-4.99

MSFH.TO vs. INAI.TO - Sharpe Ratio Comparison

The current MSFH.TO Sharpe Ratio is -0.68, which is lower than the INAI.TO Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of MSFH.TO and INAI.TO, 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

MSFH.TO vs. INAI.TO - Drawdown Comparison

The maximum MSFH.TO drawdown since its inception was -31.00%, which is greater than INAI.TO's maximum drawdown of -26.78%. Use the drawdown chart below to compare losses from any high point for MSFH.TO and INAI.TO.

Drawdown Indicators

	MSFH.TO	INAI.TO	Difference
Max Drawdown Largest peak-to-trough decline	-31.00%	-26.78%	-4.22%
Max Drawdown (1Y) Largest decline over 1 year	-31.00%	-25.34%	-5.66%
Current Drawdown Current decline from peak	-23.17%	-9.12%	-14.05%
Average Drawdown Average peak-to-trough decline	-9.87%	-5.69%	-4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.11%	9.81%	+7.30%

Volatility

MSFH.TO vs. INAI.TO - Volatility Comparison

Harvest Microsoft High Income Shares ETF Class A Units (MSFH.TO) has a higher volatility of 10.91% compared to Invesco Morningstar Global Next Gen AI Index ETF (INAI.TO) at 9.38%. This indicates that MSFH.TO's price experiences larger fluctuations and is considered to be riskier than INAI.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFH.TO	INAI.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.91%	9.38%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	21.78%	23.47%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	24.35%	29.45%	-5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	27.98%	-4.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.48%	27.98%	-4.50%

Dividends

MSFH.TO vs. INAI.TO - Dividend Comparison

MSFH.TO's dividend yield for the trailing twelve months is around 19.13%, more than INAI.TO's 0.02% yield.

Position	TTM	2025	2024
INAI.TO Invesco Morningstar Global Next Gen AI Index ETF	0.02%	0.07%	0.14%
MSFH.TO Harvest Microsoft High Income Shares ETF Class A Units	19.13%	14.88%	4.59%

Frequently Asked Questions

Can I hold both MSFH.TO and INAI.TO in my portfolio?

MSFH.TO and INAI.TO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between MSFH.TO and INAI.TO?

They also come from different issuers: Harvest and Invesco.