PSI vs. AMAT

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Semiconductors ETF (PSI) and Applied Materials, Inc. (AMAT).

PSI is a passively managed fund by Invesco that tracks the performance of the Dynamic Semiconductors Intellidex Index. It was launched on Jun 23, 2005.

Performance

PSI vs. AMAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) and Applied Materials, Inc. (AMAT). The values are adjusted to include any dividend payments, if applicable.

PSI vs. AMAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSI Invesco Semiconductors ETF	19.68%	36.32%	17.17%	49.06%	-34.43%	46.55%	56.75%	52.49%	-11.55%	40.16%
AMAT Applied Materials, Inc.	33.16%	59.60%	1.13%	67.97%	-37.54%	83.64%	43.29%	89.86%	-34.92%	59.86%

Returns By Period

In the year-to-date period, PSI achieves a 19.68% return, which is significantly lower than AMAT's 33.16% return. Over the past 10 years, PSI has underperformed AMAT with an annualized return of 27.52%, while AMAT has yielded a comparatively higher 33.40% annualized return.

PSI

• 1D: 6.62%
• 1M: -4.66%
• YTD: 19.68%
• 6M: 34.22%
• 1Y: 99.43%
• 3Y*: 32.09%
• 5Y*: 17.89%
• 10Y*: 27.52%

AMAT

• 1D: 5.78%
• 1M: -8.20%
• YTD: 33.16%
• 6M: 67.47%
• 1Y: 137.63%
• 3Y*: 41.87%
• 5Y*: 20.31%
• 10Y*: 33.40%

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

Return for Risk

PSI vs. AMAT — Risk / Return Rank

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

PSI

PSI Risk / Return Rank: 95
PSI Sharpe Ratio Rank: 95
PSI Sortino Ratio Rank: 94
PSI Omega Ratio Rank: 92
PSI Calmar Ratio Rank: 98
PSI Martin Ratio Rank: 97

AMAT

AMAT Risk / Return Rank: 95
AMAT Sharpe Ratio Rank: 96
AMAT Sortino Ratio Rank: 92
AMAT Omega Ratio Rank: 93
AMAT Calmar Ratio Rank: 96
AMAT Martin Ratio Rank: 96

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.

PSI vs. AMAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and Applied Materials, Inc. (AMAT). 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.

	PSI	AMAT	Difference
Sharpe ratio Return per unit of total volatility	2.29	2.82	-0.53
Sortino ratio Return per unit of downside risk	2.79	3.05	-0.26
Omega ratio Gain probability vs. loss probability	1.39	1.43	-0.04
Calmar ratio Return relative to maximum drawdown	5.26	6.44	-1.19
Martin ratio Return relative to average drawdown	19.05	17.96	+1.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSI vs. AMAT - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 2.29, which is comparable to the AMAT Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of PSI and AMAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PSI	AMAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.82	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.47	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.79	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.41	+0.09

Correlation

The correlation between PSI and AMAT is 0.81, 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.

Dividends

PSI vs. AMAT - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.08%, less than AMAT's 0.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSI Invesco Semiconductors ETF	0.08%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%
AMAT Applied Materials, Inc.	0.54%	0.69%	0.93%	0.75%	1.05%	0.60%	1.01%	1.36%	2.14%	0.78%	1.24%	2.14%

Drawdowns

PSI vs. AMAT - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, smaller than the maximum AMAT drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for PSI and AMAT.

Drawdown Indicators

	PSI	AMAT	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-85.22%	+22.26%
Max Drawdown (1Y) Largest decline over 1 year	-18.67%	-21.37%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	-55.14%	+10.29%
Max Drawdown (10Y) Largest decline over 10 years	-44.85%	-55.14%	+10.29%
Current Drawdown Current decline from peak	-9.88%	-13.46%	+3.58%
Average Drawdown Average peak-to-trough decline	-16.05%	-38.96%	+22.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.15%	7.67%	-2.52%

Volatility

PSI vs. AMAT - Volatility Comparison

The current volatility for Invesco Semiconductors ETF (PSI) is 16.03%, while Applied Materials, Inc. (AMAT) has a volatility of 17.09%. This indicates that PSI experiences smaller price fluctuations and is considered to be less risky than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	AMAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.03%	17.09%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	29.69%	34.94%	-5.25%
Volatility (1Y) Calculated over the trailing 1-year period	43.61%	49.10%	-5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.38%	43.28%	-5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.66%	42.40%	-7.74%