PSI vs. FLOT
PSI (Invesco Semiconductors ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, PSI returned 33.31%/yr vs 3.03%/yr for FLOT. At a 0.10 correlation, their price movements are largely independent. PSI charges 0.56%/yr vs 0.15%/yr for FLOT.
Performance
PSI vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, PSI achieves a 93.40% return, which is significantly higher than FLOT's 1.87% return. Over the past 10 years, PSI has outperformed FLOT with an annualized return of 33.31%, while FLOT has yielded a comparatively lower 3.03% annualized return.
PSI
- 1D
- 5.16%
- 1M
- 0.48%
- YTD
- 93.40%
- 6M
- 86.01%
- 1Y
- 182.03%
- 3Y*
- 52.78%
- 5Y*
- 30.45%
- 10Y*
- 33.31%
FLOT
- 1D
- 0.00%
- 1M
- 0.41%
- YTD
- 1.87%
- 6M
- 2.15%
- 1Y
- 4.85%
- 3Y*
- 5.60%
- 5Y*
- 4.20%
- 10Y*
- 3.03%
PSI vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSI Invesco Semiconductors ETF | 93.40% | 36.32% | 17.17% | 49.06% | -34.43% | 46.55% | 56.75% | 52.49% | -11.55% | 40.16% |
FLOT iShares Floating Rate Bond ETF | 1.87% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between PSI and FLOT is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011 | 0.11 |
The correlation between PSI and FLOT shifts across timeframes, from 0.10 (all time) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSI vs. FLOT — Risk / Return Rank
PSI
FLOT
PSI vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and iShares Floating Rate Bond ETF (FLOT). 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 | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -7.44 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 3.22 | -1.62 |
| Calmar ratioReturn relative to maximum drawdown | 11.84 | 11.27 | +0.57 |
| Martin ratioReturn relative to average drawdown | 42.10 | 104.83 | -62.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSI | FLOT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.64 | 6.54 | -1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 2.38 | -1.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.95 | 0.73 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.66 | -0.08 |
Drawdowns
PSI vs. FLOT - Drawdown Comparison
The maximum PSI drawdown since its inception was -62.96%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for PSI and FLOT.
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Drawdown Indicators
| PSI | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.96% | -13.54% | -49.42% |
Max Drawdown (1Y)Largest decline over 1 year | -15.48% | -0.43% | -15.05% |
Max Drawdown (3Y)Largest decline over 3 years | -41.07% | -1.57% | -39.50% |
Max Drawdown (5Y)Largest decline over 5 years | -44.85% | -2.36% | -42.49% |
Max Drawdown (10Y)Largest decline over 10 years | -44.85% | -13.54% | -31.31% |
Current DrawdownCurrent decline from peak | -6.89% | -0.02% | -6.87% |
Average DrawdownAverage peak-to-trough decline | -15.93% | -0.21% | -15.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | 0.05% | +4.29% |
Volatility
PSI vs. FLOT - Volatility Comparison
Invesco Semiconductors ETF (PSI) has a higher volatility of 18.07% compared to iShares Floating Rate Bond ETF (FLOT) at 0.20%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSI | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.07% | 0.20% | +17.87% |
Volatility (6M)Calculated over the trailing 6-month period | 32.42% | 0.62% | +31.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.52% | 0.75% | +38.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.19% | 1.77% | +36.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.29% | 4.15% | +31.14% |
PSI vs. FLOT - Expense Ratio Comparison
PSI has a 0.56% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
PSI vs. FLOT - Dividend Comparison
PSI's dividend yield for the trailing twelve months is around 0.05%, less than FLOT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.54% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
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
PSI and FLOT have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSI has higher volatility (18.07%) compared to FLOT (0.20%). In terms of maximum drawdown, PSI dropped -62.96% vs FLOT's -13.54%.
On 10-year performance, PSI leads with 33.31% vs 3.03% for FLOT. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSI has performed better with a 33.31% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.56% for PSI.
FLOT has the higher dividend yield at 4.54%, compared with 0.05% for PSI.
PSI is categorized as Semiconductors, while FLOT is Ultrashort Bond. PSI tracks Dynamic Semiconductors Intellidex Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.56% for PSI and 0.15% for FLOT.
FLOT currently has the higher Sharpe Ratio (6.54 vs 4.64), 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.
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