PSCI vs. AIRR
Compare and contrast key facts about Invesco S&P SmallCap Industrials ETF (PSCI) and First Trust RBA American Industrial Renaissance ETF (AIRR).
PSCI and AIRR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSCI is a passively managed fund by Invesco that tracks the performance of the S&P SmallCap 600 Industrials Index. It was launched on Apr 7, 2010. AIRR is a passively managed fund by First Trust that tracks the performance of the Richard Bernstein Advisors American Industrial Renaissance (TR). It was launched on Mar 10, 2014. Both PSCI and AIRR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PSCI or AIRR.
Key characteristics
| PSCI | AIRR | |
|---|---|---|
| YTD Return | 26.42% | 45.14% |
| 1Y Return | 40.74% | 64.29% |
| 3Y Return (Ann) | 13.11% | 21.09% |
| 5Y Return (Ann) | 16.71% | 24.29% |
| 10Y Return (Ann) | 13.37% | 16.45% |
| Sharpe Ratio | 2.19 | 2.97 |
| Sortino Ratio | 3.11 | 3.81 |
| Omega Ratio | 1.37 | 1.48 |
| Calmar Ratio | 4.94 | 7.28 |
| Martin Ratio | 12.55 | 17.92 |
| Ulcer Index | 3.79% | 4.08% |
| Daily Std Dev | 21.69% | 24.64% |
| Max Drawdown | -45.55% | -42.37% |
| Current Drawdown | -1.57% | -1.98% |
Correlation
The correlation between PSCI and AIRR is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PSCI vs. AIRR - Performance Comparison
In the year-to-date period, PSCI achieves a 26.42% return, which is significantly lower than AIRR's 45.14% return. Over the past 10 years, PSCI has underperformed AIRR with an annualized return of 13.37%, while AIRR has yielded a comparatively higher 16.45% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PSCI vs. AIRR - Expense Ratio Comparison
PSCI has a 0.29% expense ratio, which is lower than AIRR's 0.70% expense ratio.
Risk-Adjusted Performance
PSCI vs. AIRR - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Industrials ETF (PSCI) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
Dividends
PSCI vs. AIRR - Dividend Comparison
PSCI's dividend yield for the trailing twelve months is around 0.64%, more than AIRR's 0.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSCI Invesco S&P SmallCap Industrials ETF | 0.64% | 0.72% | 0.87% | 0.69% | 0.59% | 0.64% | 0.67% | 0.71% | 0.74% | 1.02% | 0.81% | 0.47% |
AIRR First Trust RBA American Industrial Renaissance ETF | 0.16% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% | 0.37% | 0.00% |
Drawdowns
PSCI vs. AIRR - Drawdown Comparison
The maximum PSCI drawdown since its inception was -45.55%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for PSCI and AIRR. For additional features, visit the drawdowns tool.
Volatility
PSCI vs. AIRR - Volatility Comparison
The current volatility for Invesco S&P SmallCap Industrials ETF (PSCI) is 8.13%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 9.36%. This indicates that PSCI experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.