PSI vs. CHPY

Last updated Jun 4, 2026

PSI (Invesco Semiconductors ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while CHPY is a Derivative Income fund actively managed by YieldMax. PSI is passively managed, while CHPY is actively managed. Over the past year, PSI returned 208.96% vs 149.72% for CHPY. Their correlation of 0.94 suggests significant overlap in exposure. PSI charges 0.56%/yr vs 0.99%/yr for CHPY.

Performance

PSI vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSI achieves a 107.72% return, which is significantly higher than CHPY's 85.77% return.

PSI

• 1D: 1.35%
• 1M: 21.18%
• YTD: 107.72%
• 6M: 104.36%
• 1Y: 208.96%
• 3Y*: 57.01%
• 5Y*: 31.86%
• 10Y*: 34.28%

CHPY

• 1D: 1.14%
• 1M: 29.53%
• YTD: 85.77%
• 6M: 85.49%
• 1Y: 149.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSI vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
PSI Invesco Semiconductors ETF	107.72%	85.81%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	85.77%	62.91%

Correlation

The correlation between PSI and CHPY is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.94

The correlation between PSI and CHPY has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

PSI vs. CHPY — Risk / Return Rank

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

PSI

PSI Risk / Return Rank: 96
PSI Sharpe Ratio Rank: 98
PSI Sortino Ratio Rank: 95
PSI Omega Ratio Rank: 94
PSI Calmar Ratio Rank: 98
PSI Martin Ratio Rank: 97

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 96
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 97
CHPY Martin Ratio Rank: 97

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. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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	CHPY	Difference
Sharpe ratio Return per unit of total volatility	5.58	5.47	+0.12
Sortino ratio Return per unit of downside risk	5.11	5.76	-0.66
Omega ratio Gain probability vs. loss probability	1.69	1.81	-0.12
Calmar ratio Return relative to maximum drawdown	13.59	12.38	+1.21
Martin ratio Return relative to average drawdown	49.28	47.28	+2.00
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. CHPY - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 5.58, which is comparable to the CHPY Sharpe Ratio of 5.47. The chart below compares the historical Sharpe Ratios of PSI and CHPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PSI	CHPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.58	5.47	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	4.83	-4.24

Drawdowns

PSI vs. CHPY - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, which is greater than CHPY's maximum drawdown of -12.17%. Use the drawdown chart below to compare losses from any high point for PSI and CHPY.

Drawdown Indicators

	PSI	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-12.17%	-50.79%
Max Drawdown (1Y) Largest decline over 1 year	-15.48%	-12.17%	-3.31%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-15.94%	-1.98%	-13.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	3.18%	+1.08%

Volatility

PSI vs. CHPY - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 13.60% compared to YieldMax Semiconductor Portfolio Option Income ETF (CHPY) at 11.23%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.60%	11.23%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	30.09%	22.33%	+7.76%
Volatility (1Y) Calculated over the trailing 1-year period	37.75%	27.59%	+10.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.85%	33.17%	+4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.09%	33.17%	+1.92%

PSI vs. CHPY - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

PSI vs. CHPY - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.05%, less than CHPY's 28.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.40%	28.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSI Invesco Semiconductors ETF	0.05%	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 CHPY in my portfolio?

With a correlation of 0.93, PSI and CHPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PSI or CHPY?

PSI has higher volatility (13.60%) compared to CHPY (11.23%). In terms of maximum drawdown, PSI dropped -62.96% vs CHPY's -12.17%.

Which ETF is better, PSI or CHPY?

On 1-year performance, PSI leads with 208.96% vs 149.72% for CHPY. On fees, PSI is cheaper at 0.56% per year. On volatility, CHPY has been the lower-risk option at 11.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSI or CHPY?

Over the 1-year period, PSI has performed better with a 208.96% return vs 149.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSI or CHPY?

PSI is cheaper with a 0.56% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 28.40%, compared with 0.05% for PSI.

What is the main difference between PSI and CHPY?

PSI is categorized as Semiconductors, while CHPY is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.56% for PSI and 0.99% for CHPY.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (5.58 vs 5.47), 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.