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PSI vs. IAK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSI vs. IAK

Last updated Aug 4, 2026
Documentation

PSI (Invesco Semiconductors ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 10 years, PSI returned 30.54%/yr vs 13.18%/yr for IAK. Their 0.46 correlation means their historical movements had little consistent relationship. PSI charges 0.56%/yr vs 0.38%/yr for IAK.

Performance

PSI vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PSI achieves a 76.39% return, which is significantly higher than IAK's 10.11% return. Over the past 10 years, PSI has outperformed IAK with an annualized return of 30.54%, while IAK has yielded a comparatively lower 13.18% annualized 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%

IAK

1D
0.03%
1M
-0.03%
6M
12.56%
YTD
10.11%
1Y
19.67%
3Y*
19.67%
5Y*
15.99%
10Y*
13.18%
ALL TIME*
7.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IAK

iShares U.S. Insurance ETF
$15.27M$20.59M$12.29M

PSI

Invesco Semiconductors ETF
$73.94M$63.66M$74.26M

PSI vs. IAK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PSI
Invesco Semiconductors ETF		76.39%36.32%17.17%49.06%-34.43%46.55%56.75%52.49%-11.55%40.16%
IAK
iShares U.S. Insurance ETF		10.11%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%

Correlation

The correlation between PSI and IAK is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.22

Correlation (3Y)
Balances recent behavior with more history.

-0.01

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.19

Correlation (10Y)
Provides a long-term view across more market conditions.

0.29

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.46

The correlation between PSI and IAK shifts across timeframes, from -0.22 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

PSI vs. IAK - Sectors Allocation Comparison

Sectors
PSI
IAK

Technology

100.0%

-

Industrials

1.6%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

99.3%

Healthcare

-

0.7%

Real Estate

-

-

Utilities

-

-

Technology

PSI
100.0%
IAK

-

Industrials

PSI
1.6%
IAK

-

Basic Materials

PSI

-

IAK

-

Communication Services

PSI

-

IAK

-

Consumer Cyclical

PSI

-

IAK

-

Consumer Defensive

PSI

-

IAK

-

Energy

PSI

-

IAK

-

Financial Services

PSI

-

IAK
99.3%

Healthcare

PSI

-

IAK
0.7%

Real Estate

PSI

-

IAK

-

Utilities

PSI

-

IAK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Semiconductors ETF

iShares U.S. Insurance ETF

Often compared with PSI:
PSI vs. SMHPSI vs. SOXXPSI vs. FTXLPSI vs. XSDPSI vs. FSELXPSI vs. SOXQPSI vs. XLE
Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. ^SP500TRIAK vs. VYM

Return for Risk

PSI vs. IAK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
PSI
PSI Risk / Return Rank: 9090
Overall Rank
PSI Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
PSI Sortino Ratio Rank: 8787
Sortino Ratio Rank
PSI Omega Ratio Rank: 8787
Omega Ratio Rank
PSI Calmar Ratio Rank: 9090
Calmar Ratio Rank
PSI Martin Ratio Rank: 9393
Martin Ratio Rank
IAK
IAK Risk / Return Rank: 5454
Overall Rank
IAK Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 4949
Sortino Ratio Rank
IAK Omega Ratio Rank: 4747
Omega Ratio Rank
IAK Calmar Ratio Rank: 7272
Calmar Ratio Rank
IAK Martin Ratio Rank: 5252
Martin Ratio Rank
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. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and iShares U.S. Insurance ETF (IAK). 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.

PSIIAKDifference
Sharpe ratioReturn per unit of total volatility
2.76
1.24

+1.52

Sortino ratioReturn per unit of downside risk
2.94
1.81

+1.13

Omega ratioGain probability vs. loss probability

1.39

1.22

+0.17

Calmar ratioReturn relative to maximum drawdown

3.85

2.59

+1.26

Martin ratioReturn relative to average drawdown

17.24

6.29

+10.94

PSI vs. IAK - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 2.76, which is higher than the IAK Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of PSI and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PSI vs. IAK - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for PSI and IAK.

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Drawdown Indicators

PSIIAKDifference

Max Drawdown

Largest peak-to-trough decline

-62.96%

-77.38%

+14.42%

Max Drawdown (1Y)

Largest decline over 1 year

-35.74%

-7.62%

-28.12%

Max Drawdown (3Y)

Largest decline over 3 years

-41.07%

-11.58%

-29.49%

Max Drawdown (5Y)

Largest decline over 5 years

-44.85%

-14.76%

-30.09%

Max Drawdown (10Y)

Largest decline over 10 years

-44.85%

-44.95%

+0.10%

Current Drawdown

Current decline from peak

-25.95%

-3.20%

-22.75%

Average Drawdown

Average peak-to-trough decline

-15.92%

-16.01%

+0.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.97%

3.13%

+4.84%

Volatility

PSI vs. IAK - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 22.74% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PSIIAKDifference

Volatility (1M)

Calculated over the trailing 1-month period

22.74%

6.56%

+16.18%

Volatility (6M)

Calculated over the trailing 6-month period

43.67%

12.42%

+31.25%

Volatility (1Y)

Calculated over the trailing 1-year period

50.08%

15.99%

+34.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

40.62%

18.13%

+22.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.57%

20.92%

+15.65%

PSI vs. IAK - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is higher than IAK's 0.38% expense ratio.

Dividends

PSI vs. IAK - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.03%, less than IAK's 2.42% yield.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.42%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
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

PSI and IAK have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PSI has higher volatility (22.74%) compared to IAK (6.56%). In terms of maximum drawdown, PSI dropped -62.96% vs IAK's -77.38%.

On 10-year performance, PSI leads with 30.54% vs 13.18% for IAK. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 6.56%. 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 30.54% return vs 13.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.38% expense ratio, compared with 0.56% for PSI.

IAK has the higher dividend yield at 2.42%, compared with 0.03% for PSI.

PSI is categorized as Semiconductors, while IAK is Financials Equities. PSI tracks Dynamic Semiconductors Intellidex Index, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.56% for PSI and 0.38% for IAK.

PSI currently has the higher Sharpe Ratio (2.76 vs 1.24), 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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