PSI vs. SHOC

Last updated Jun 4, 2026

PSI (Invesco Semiconductors ETF) and SHOC (Strive U.S. Semiconductor ETF) are both Semiconductors funds - PSI tracks the Dynamic Semiconductors Intellidex Index while SHOC tracks the Bloomberg US Listed Semiconductors Select Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, PSI returned 57.01%/yr vs 53.55%/yr for SHOC. Their correlation of 0.94 suggests significant overlap in exposure. PSI charges 0.56%/yr vs 0.40%/yr for SHOC.

Performance

PSI vs. SHOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) and Strive U.S. Semiconductor ETF (SHOC). 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 SHOC's 73.38% 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%

SHOC

• 1D: 0.94%
• 1M: 25.12%
• YTD: 73.38%
• 6M: 70.44%
• 1Y: 149.45%
• 3Y*: 53.55%
• 5Y*: —
• 10Y*: —

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

PSI vs. SHOC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PSI Invesco Semiconductors ETF	107.72%	36.32%	17.17%	49.06%	1.73%
SHOC Strive U.S. Semiconductor ETF	73.38%	49.91%	16.74%	61.97%	-1.17%

Correlation

The correlation between PSI and SHOC is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022	0.94

The correlation between PSI and SHOC has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

PSI vs. SHOC - Sectors Allocation Comparison

Sectors	PSI	SHOC
Technology	97.6%	100.0%
Industrials	2.4%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

PSI vs. SHOC — 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

SHOC

SHOC Risk / Return Rank: 95
SHOC Sharpe Ratio Rank: 97
SHOC Sortino Ratio Rank: 94
SHOC Omega Ratio Rank: 93
SHOC Calmar Ratio Rank: 97
SHOC 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. SHOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and Strive U.S. Semiconductor ETF (SHOC). 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	SHOC	Difference
Sharpe ratio: Return per unit of total volatility	5.58	4.78	+0.80
Sortino ratio: Return per unit of downside risk	5.11	4.84	+0.26
Omega ratio: Gain probability vs. loss probability	1.69	1.66	+0.03
Calmar ratio: Return relative to maximum drawdown	13.59	10.30	+3.29
Martin ratio: Return relative to average drawdown	49.28	38.30	+10.98
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. SHOC - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 5.58, which is comparable to the SHOC Sharpe Ratio of 4.78. The chart below compares the historical Sharpe Ratios of PSI and SHOC, 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	SHOC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.58	4.78	+0.80
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	1.55	-0.96

Drawdowns

PSI vs. SHOC - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, which is greater than SHOC's maximum drawdown of -37.54%. Use the drawdown chart below to compare losses from any high point for PSI and SHOC.

Drawdown Indicators

	PSI	SHOC	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-37.54%	-25.42%
Max Drawdown (1Y) Largest decline over 1 year	-15.48%	-14.59%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-41.07%	-37.54%	-3.53%
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%	-7.47%	-8.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	3.92%	+0.34%

Volatility

PSI vs. SHOC - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 13.60% compared to Strive U.S. Semiconductor ETF (SHOC) at 11.47%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than SHOC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	SHOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.60%	11.47%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	30.09%	24.61%	+5.48%
Volatility (1Y) Calculated over the trailing 1-year period	37.75%	31.53%	+6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.85%	35.16%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.09%	35.16%	-0.07%

PSI vs. SHOC - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is higher than SHOC's 0.40% expense ratio.

Dividends

PSI vs. SHOC - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.05%, less than SHOC's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SHOC Strive U.S. Semiconductor ETF	0.14%	0.23%	0.35%	0.65%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSI and SHOC in my portfolio?

With a correlation of 0.91, PSI and SHOC 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 SHOC?

PSI has higher volatility (13.60%) compared to SHOC (11.47%). In terms of maximum drawdown, PSI dropped -62.96% vs SHOC's -37.54%.

Which ETF is better, PSI or SHOC?

On 3-year performance, PSI leads with 57.01% vs 53.55% for SHOC. On fees, SHOC is cheaper at 0.40% per year. On volatility, SHOC has been the lower-risk option at 11.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSI or SHOC?

Over the 3-year period, PSI has performed better with a 57.01% return vs 53.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSI or SHOC?

SHOC is cheaper with a 0.40% expense ratio, compared with 0.56% for PSI.

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

SHOC has the higher dividend yield at 0.14%, compared with 0.05% for PSI.

What is the main difference between PSI and SHOC?

PSI tracks Dynamic Semiconductors Intellidex Index, while SHOC tracks Bloomberg US Listed Semiconductors Select Index - Benchmark TR Gross. They also come from different issuers: Invesco and Strive. Their fees differ too: 0.56% for PSI and 0.40% for SHOC.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (5.58 vs 4.78), 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.