PSI vs. VLUE

Last updated Jun 13, 2026

PSI (Invesco Semiconductors ETF) and VLUE (iShares MSCI USA Value Factor ETF) are both exchange-traded funds - PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index, while VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index. Both are passively managed. Over the past 10 years, PSI returned 34.59%/yr vs 15.38%/yr for VLUE. A 0.68 correlation means they provide meaningful diversification when combined. PSI charges 0.56%/yr vs 0.15%/yr for VLUE.

Performance

PSI vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Semiconductors ETF (PSI) and iShares MSCI USA Value Factor ETF (VLUE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSI achieves a 112.90% return, which is significantly higher than VLUE's 45.72% return. Over the past 10 years, PSI has outperformed VLUE with an annualized return of 34.59%, while VLUE has yielded a comparatively lower 15.38% annualized return.

PSI

• 1D: 3.00%
• 1M: 10.45%
• YTD: 112.90%
• 6M: 110.54%
• 1Y: 198.40%
• 3Y*: 55.80%
• 5Y*: 32.57%
• 10Y*: 34.59%

VLUE

• 1D: 0.40%
• 1M: 7.90%
• YTD: 45.72%
• 6M: 46.53%
• 1Y: 83.16%
• 3Y*: 31.47%
• 5Y*: 16.01%
• 10Y*: 15.38%

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

PSI vs. VLUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSI Invesco Semiconductors ETF	112.90%	36.32%	17.17%	49.06%	-34.43%	46.55%	56.75%	52.49%	-11.55%	40.16%
VLUE iShares MSCI USA Value Factor ETF	45.72%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%

Correlation

The correlation between PSI and VLUE is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013	0.68

The correlation between PSI and VLUE has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

PSI vs. VLUE - Sectors Allocation Comparison

Sectors	PSI	VLUE
Technology	97.6%	44.5%
Industrials	2.4%	7.4%
Basic Materials	-	1.6%
Communication Services	-	8.3%
Consumer Cyclical	-	8.3%
Consumer Defensive	-	4.0%
Energy	-	3.2%
Financial Services	-	10.4%
Healthcare	-	8.5%
Real Estate	-	1.8%
Utilities	-	2.0%

Return for Risk

PSI vs. VLUE — Risk / Return Rank

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

PSI

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

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 97
VLUE Omega Ratio Rank: 96
VLUE Calmar Ratio Rank: 97
VLUE 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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Semiconductors ETF (PSI) and iShares MSCI USA Value Factor ETF (VLUE). 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	VLUE	Difference
Sharpe ratio: Return per unit of total volatility	4.92	4.55	+0.37
Sortino ratio: Return per unit of downside risk	4.57	5.75	-1.17
Omega ratio: Gain probability vs. loss probability	1.63	1.77	-0.15
Calmar ratio: Return relative to maximum drawdown	12.90	9.25	+3.65
Martin ratio: Return relative to average drawdown	45.29	39.16	+6.13

PSI vs. VLUE - Sharpe Ratio Comparison

The current PSI Sharpe Ratio is 4.92, which is comparable to the VLUE Sharpe Ratio of 4.55. The chart below compares the historical Sharpe Ratios of PSI and VLUE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PSI vs. VLUE - Drawdown Comparison

The maximum PSI drawdown since its inception was -62.96%, which is greater than VLUE's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for PSI and VLUE.

Drawdown Indicators

	PSI	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-62.96%	-39.47%	-23.49%
Max Drawdown (1Y) Largest decline over 1 year	-15.48%	-9.04%	-6.44%
Max Drawdown (3Y) Largest decline over 3 years	-41.07%	-17.89%	-23.18%
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	-27.12%	-17.73%
Max Drawdown (10Y) Largest decline over 10 years	-44.85%	-39.47%	-5.38%
Current Drawdown Current decline from peak	0.00%	-2.61%	+2.61%
Average Drawdown Average peak-to-trough decline	-15.92%	-6.01%	-9.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	2.13%	+2.27%

Volatility

PSI vs. VLUE - Volatility Comparison

Invesco Semiconductors ETF (PSI) has a higher volatility of 18.89% compared to iShares MSCI USA Value Factor ETF (VLUE) at 8.83%. This indicates that PSI's price experiences larger fluctuations and is considered to be riskier than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSI	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.89%	8.83%	+10.06%
Volatility (6M) Calculated over the trailing 6-month period	33.67%	15.31%	+18.36%
Volatility (1Y) Calculated over the trailing 1-year period	40.58%	18.38%	+22.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.44%	18.00%	+20.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.42%	19.91%	+15.51%

PSI vs. VLUE - Expense Ratio Comparison

PSI has a 0.56% expense ratio, which is higher than VLUE's 0.15% expense ratio.

Dividends

PSI vs. VLUE - Dividend Comparison

PSI's dividend yield for the trailing twelve months is around 0.04%, less than VLUE's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSI Invesco Semiconductors ETF	0.04%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%
VLUE iShares MSCI USA Value Factor ETF	1.43%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both PSI and VLUE in my portfolio?

PSI and VLUE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSI or VLUE?

PSI has higher volatility (18.89%) compared to VLUE (8.83%). In terms of maximum drawdown, PSI dropped -62.96% vs VLUE's -39.47%.

Which ETF is better, PSI or VLUE?

On 10-year performance, PSI leads with 34.59% vs 15.38% for VLUE. On fees, VLUE is cheaper at 0.15% per year. On volatility, VLUE has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSI or VLUE?

Over the 10-year period, PSI has performed better with a 34.59% return vs 15.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSI or VLUE?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.56% for PSI.

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

VLUE has the higher dividend yield at 1.43%, compared with 0.04% for PSI.

What is the main difference between PSI and VLUE?

PSI is categorized as Semiconductors, while VLUE is Large Cap Value Equities. PSI tracks Dynamic Semiconductors Intellidex Index, while VLUE tracks MSCI USA Enhanced Value Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.56% for PSI and 0.15% for VLUE.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (4.92 vs 4.55), 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.