PKB vs. AIPO

Last updated Aug 2, 2026

PKB (Invesco Dynamic Building & Construction ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - PKB is a Building & Construction fund tracking the Dynamic Building & Construction Intellidex Index, while AIPO is a Artificial Intelligence fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. Both are passively managed. Over the past year, PKB returned 18.46% vs 42.03% for AIPO. Their 0.68 correlation means they have sometimes moved together and sometimes differently. PKB charges 0.60%/yr vs 0.69%/yr for AIPO.

Performance

PKB vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Building & Construction ETF (PKB) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PKB achieves a 8.46% return, which is significantly lower than AIPO's 29.43% return.

PKB

• 1D: 0.59%
• 1M: -6.80%
• 6M: 2.12%
• YTD: 8.46%
• 1Y: 18.46%
• 3Y*: 21.46%
• 5Y*: 14.93%
• 10Y*: 14.48%
• ALL TIME*: 10.05%

AIPO

• 1D: 0.63%
• 1M: -7.73%
• 6M: 16.62%
• YTD: 29.43%
• 1Y: 42.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 40.92%

*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)
AIPO Defiance AI & Power Infrastructure ETF	$40.86M	$38.41M	$47.30M
PKB Invesco Dynamic Building & Construction ETF	$846.36K	$1.43M	$1.62M

PKB vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
PKB Invesco Dynamic Building & Construction ETF	8.46%	9.20%
AIPO Defiance AI & Power Infrastructure ETF	29.43%	9.46%

Correlation

The correlation between PKB and AIPO is 0.68, 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.	0.68
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.68

The correlation between PKB and AIPO has been stable across timeframes, ranging from 0.68 to 0.68 - a consistent structural relationship.

PKB vs. AIPO - Sectors Allocation Comparison

Sectors	PKB	AIPO
Industrials	43.6%	58.0%
Basic Materials	35.8%	-
Consumer Cyclical	20.7%	0.7%
Utilities	2.8%	15.3%
Energy	2.5%	6.8%
Financial Services	0.1%	2.9%
Communication Services	-	0.5%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	0.9%
Technology	-	15.7%

Return for Risk

PKB vs. AIPO — Risk / Return Rank

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

PKB

PKB Risk / Return Rank: 31
PKB Sharpe Ratio Rank: 29
PKB Sortino Ratio Rank: 31
PKB Omega Ratio Rank: 28
PKB Calmar Ratio Rank: 34
PKB Martin Ratio Rank: 33

AIPO

AIPO Risk / Return Rank: 43
AIPO Sharpe Ratio Rank: 42
AIPO Sortino Ratio Rank: 42
AIPO Omega Ratio Rank: 41
AIPO Calmar Ratio Rank: 45
AIPO Martin Ratio Rank: 47

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.

PKB vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Building & Construction ETF (PKB) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	PKB	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	0.72	1.05	-0.33
Sortino ratio: Return per unit of downside risk	1.17	1.53	-0.36
Omega ratio: Gain probability vs. loss probability	1.13	1.19	-0.06
Calmar ratio: Return relative to maximum drawdown	1.16	1.61	-0.45
Martin ratio: Return relative to average drawdown	3.15	5.40	-2.24

PKB vs. AIPO - Sharpe Ratio Comparison

The current PKB Sharpe Ratio is 0.72, which is lower than the AIPO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of PKB and AIPO, 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

PKB vs. AIPO - Drawdown Comparison

The maximum PKB drawdown since its inception was -65.21%, which is greater than AIPO's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for PKB and AIPO.

Drawdown Indicators

	PKB	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-24.36%	-40.85%
Max Drawdown (1Y) Largest decline over 1 year	-15.41%	-24.36%	+8.95%
Max Drawdown (3Y) Largest decline over 3 years	-29.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.29%	—	—
Current Drawdown Current decline from peak	-12.00%	-17.66%	+5.66%
Average Drawdown Average peak-to-trough decline	-15.70%	-5.28%	-10.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.65%	7.27%	-1.62%

Volatility

PKB vs. AIPO - Volatility Comparison

The current volatility for Invesco Dynamic Building & Construction ETF (PKB) is 7.31%, while Defiance AI & Power Infrastructure ETF (AIPO) has a volatility of 14.51%. This indicates that PKB experiences smaller price fluctuations and is considered to be less risky than AIPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PKB	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	14.51%	-7.20%
Volatility (6M) Calculated over the trailing 6-month period	19.52%	29.84%	-10.32%
Volatility (1Y) Calculated over the trailing 1-year period	24.85%	37.46%	-12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.91%	37.20%	-11.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.37%	37.20%	-9.83%

PKB vs. AIPO - Expense Ratio Comparison

PKB has a 0.60% expense ratio, which is lower than AIPO's 0.69% expense ratio.

Dividends

PKB vs. AIPO - Dividend Comparison

PKB's dividend yield for the trailing twelve months is around 0.19%, more than AIPO's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PKB Invesco Dynamic Building & Construction ETF	0.19%	0.14%	0.23%	0.33%	0.43%	0.25%	0.30%	0.37%	0.54%	0.17%	0.31%	0.11%

Frequently Asked Questions

Can I hold both PKB and AIPO in my portfolio?

PKB and AIPO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PKB or AIPO?

AIPO has higher volatility (14.51%) compared to PKB (7.31%). In terms of maximum drawdown, PKB dropped -65.21% vs AIPO's -24.36%.

Which ETF is better, PKB or AIPO?

On 1-year performance, AIPO leads with 42.03% vs 18.46% for PKB. On fees, PKB is cheaper at 0.60% per year. On volatility, PKB has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PKB or AIPO?

Over the 1-year period, AIPO has performed better with a 42.03% return vs 18.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PKB or AIPO?

PKB is cheaper with a 0.60% expense ratio, compared with 0.69% for AIPO.

Which ETF pays a higher dividend yield, PKB or AIPO?

PKB has the higher dividend yield at 0.19%, compared with 0.01% for AIPO.

What is the main difference between PKB and AIPO?

PKB is categorized as Building & Construction, while AIPO is Artificial Intelligence. PKB tracks Dynamic Building & Construction Intellidex Index, while AIPO tracks MarketVector™ US Listed AI and Power Infrastructure Index. They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.60% for PKB and 0.69% for AIPO.

Which has better risk-adjusted returns?

AIPO currently has the higher Sharpe Ratio (1.05 vs 0.72), 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.