PSI vs. NEAR
PSI (Invesco Semiconductors ETF) and NEAR (iShares Short Duration Bond Active ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while NEAR is a Short-Term Bond fund actively managed by iShares. PSI is passively managed, while NEAR is actively managed. Over the past 10 years, PSI returned 31.78%/yr vs 2.85%/yr for NEAR. At a 0.02 correlation, their price movements are largely independent. PSI charges 0.56%/yr vs 0.25%/yr for NEAR.
Performance
PSI vs. NEAR - Performance Comparison
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Returns By Period
In the year-to-date period, PSI achieves a 82.08% return, which is significantly higher than NEAR's 0.98% return. Over the past 10 years, PSI has outperformed NEAR with an annualized return of 31.78%, while NEAR has yielded a comparatively lower 2.85% annualized return.
PSI
- 1D
- 0.24%
- 1M
- -19.44%
- 6M
- 55.16%
- YTD
- 82.08%
- 1Y
- 131.76%
- 3Y*
- 46.66%
- 5Y*
- 28.58%
- 10Y*
- 31.78%
- ALL TIME*
- 17.78%
NEAR
- 1D
- -0.04%
- 1M
- 0.25%
- 6M
- 0.97%
- YTD
- 0.98%
- 1Y
- 3.62%
- 3Y*
- 5.46%
- 5Y*
- 3.91%
- 10Y*
- 2.85%
- ALL TIME*
- 2.43%
PSI vs. NEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSI Invesco Semiconductors ETF | 82.08% | 36.32% | 17.17% | 49.06% | -34.43% | 46.55% | 56.75% | 52.49% | -11.55% | 40.16% |
NEAR iShares Short Duration Bond Active ETF | 0.98% | 5.90% | 5.09% | 7.42% | 0.41% | 0.32% | 1.39% | 3.55% | 1.71% | 1.41% |
Correlation
The correlation between PSI and NEAR is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013 | 0.02 |
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Return for Risk
PSI vs. NEAR — Risk / Return Rank
PSI
NEAR
PSI vs. NEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and iShares Short Duration Bond Active ETF (NEAR). 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 | NEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.54 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.58 | 3.21 | +2.38 |
| Martin ratioReturn relative to average drawdown | 21.50 | 14.56 | +6.93 |
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Drawdowns
PSI vs. NEAR - Drawdown Comparison
The maximum PSI drawdown since its inception was -62.96%, which is greater than NEAR's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for PSI and NEAR.
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Drawdown Indicators
| PSI | NEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.96% | -9.61% | -53.35% |
Max Drawdown (1Y)Largest decline over 1 year | -23.75% | -1.13% | -22.62% |
Max Drawdown (3Y)Largest decline over 3 years | -41.07% | -1.16% | -39.91% |
Max Drawdown (5Y)Largest decline over 5 years | -44.85% | -1.32% | -43.53% |
Max Drawdown (10Y)Largest decline over 10 years | -44.85% | -9.61% | -35.24% |
Current DrawdownCurrent decline from peak | -23.56% | -0.04% | -23.52% |
Average DrawdownAverage peak-to-trough decline | -15.90% | -0.16% | -15.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.15% | 0.25% | +5.90% |
Volatility
PSI vs. NEAR - Volatility Comparison
Invesco Semiconductors ETF (PSI) has a higher volatility of 23.74% compared to iShares Short Duration Bond Active ETF (NEAR) at 0.33%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSI | NEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.74% | 0.33% | +23.41% |
Volatility (6M)Calculated over the trailing 6-month period | 40.37% | 1.07% | +39.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.83% | 1.37% | +45.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.82% | 1.36% | +38.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.12% | 2.50% | +33.62% |
PSI vs. NEAR - Expense Ratio Comparison
PSI has a 0.56% expense ratio, which is higher than NEAR's 0.25% expense ratio.
Dividends
PSI vs. NEAR - Dividend Comparison
PSI's dividend yield for the trailing twelve months is around 0.03%, less than NEAR's 4.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NEAR iShares Short Duration Bond Active ETF | 4.43% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
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 NEAR have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSI has higher volatility (23.74%) compared to NEAR (0.33%). In terms of maximum drawdown, PSI dropped -62.96% vs NEAR's -9.61%.
On 10-year performance, PSI leads with 31.78% vs 2.85% for NEAR. On fees, NEAR is cheaper at 0.25% per year. On volatility, NEAR has been the lower-risk option at 0.33%. 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 31.78% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NEAR is cheaper with a 0.25% expense ratio, compared with 0.56% for PSI.
NEAR has the higher dividend yield at 4.43%, compared with 0.03% for PSI.
PSI is categorized as Semiconductors, while NEAR is Short-Term Bond. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.56% for PSI and 0.25% for NEAR.
PSI currently has the higher Sharpe Ratio (2.84 vs 2.66), 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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