PSI vs. AIPO

Last updated Aug 4, 2026

PSI (Invesco Semiconductors ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors 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, PSI returned 136.90% vs 46.89% for AIPO. Their correlation of 0.83 means they have usually moved in the same direction. PSI charges 0.56%/yr vs 0.69%/yr for AIPO.

Performance

PSI vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) 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, PSI achieves a 76.39% return, which is significantly higher than AIPO's 33.86% return.

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%

AIPO

• 1D: 3.42%
• 1M: -4.58%
• 6M: 20.17%
• YTD: 33.86%
• 1Y: 46.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.22%

*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	$42.27M	$38.04M	$47.00M
PSI Invesco Semiconductors ETF	$73.94M	$63.66M	$74.26M

PSI vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
PSI Invesco Semiconductors ETF	76.39%	30.75%
AIPO Defiance AI & Power Infrastructure ETF	33.86%	9.46%

Correlation

The correlation between PSI and AIPO is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.83

The correlation between PSI and AIPO has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

PSI vs. AIPO - Sectors Allocation Comparison

Sectors	PSI	AIPO
Technology	100.0%	15.7%
Industrials	1.6%	58.0%
Basic Materials	-	-
Communication Services	-	0.5%
Consumer Cyclical	-	0.7%
Consumer Defensive	-	-
Energy	-	6.8%
Financial Services	-	2.9%
Healthcare	-	-
Real Estate	-	0.9%
Utilities	-	15.3%

Return for Risk

PSI vs. AIPO — Risk / Return Rank

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

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

AIPO

AIPO Risk / Return Rank: 50
AIPO Sharpe Ratio Rank: 50
AIPO Sortino Ratio Rank: 47
AIPO Omega Ratio Rank: 47
AIPO Calmar Ratio Rank: 53
AIPO Martin Ratio Rank: 54

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.

PSI vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) 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.

	PSI	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	2.76	1.26	+1.50
Sortino ratio: Return per unit of downside risk	2.94	1.74	+1.20
Omega ratio: Gain probability vs. loss probability	1.39	1.22	+0.17
Calmar ratio: Return relative to maximum drawdown	3.85	1.93	+1.92
Martin ratio: Return relative to average drawdown	17.24	6.41	+10.83

PSI vs. AIPO - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 2.76, which is higher than the AIPO Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of PSI 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

PSI vs. AIPO - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, which is greater than AIPO's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for PSI and AIPO.

Drawdown Indicators

	PSI	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-24.36%	-38.60%
Max Drawdown (1Y) Largest decline over 1 year	-35.74%	-24.36%	-11.38%
Max Drawdown (3Y) Largest decline over 3 years	-41.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.85%	—	—
Current Drawdown Current decline from peak	-25.95%	-14.84%	-11.11%
Average Drawdown Average peak-to-trough decline	-15.92%	-5.31%	-10.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.97%	7.33%	+0.64%

Volatility

PSI vs. AIPO - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 22.74% compared to Defiance AI & Power Infrastructure ETF (AIPO) at 14.74%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than AIPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.74%	14.74%	+8.00%
Volatility (6M) Calculated over the trailing 6-month period	43.67%	29.87%	+13.80%
Volatility (1Y) Calculated over the trailing 1-year period	50.08%	37.61%	+12.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.62%	37.27%	+3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.57%	37.27%	-0.70%

PSI vs. AIPO - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is lower than AIPO's 0.69% expense ratio.

Dividends

PSI vs. AIPO - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.03%, 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%
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 PSI and AIPO in my portfolio?

PSI and AIPO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSI or AIPO?

PSI has higher volatility (22.74%) compared to AIPO (14.74%). In terms of maximum drawdown, PSI dropped -62.96% vs AIPO's -24.36%.

Which ETF is better, PSI or AIPO?

On 1-year performance, PSI leads with 136.90% vs 46.89% for AIPO. On fees, PSI is cheaper at 0.56% per year. On volatility, AIPO has been the lower-risk option at 14.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSI or AIPO?

Over the 1-year period, PSI has performed better with a 136.90% return vs 46.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSI or AIPO?

PSI is cheaper with a 0.56% expense ratio, compared with 0.69% for AIPO.

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

PSI has the higher dividend yield at 0.03%, compared with 0.01% for AIPO.

What is the main difference between PSI and AIPO?

PSI is categorized as Semiconductors, while AIPO is Artificial Intelligence. PSI tracks Dynamic Semiconductors 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: 0.56% for PSI and 0.69% for AIPO.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (2.76 vs 1.26), 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.