PSP vs. BOAT

Last updated Aug 2, 2026

PSP (Invesco Global Listed Private Equity ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. Both are passively managed. Over the past 3 years, PSP returned 9.22%/yr vs 27.06%/yr for BOAT. Their 0.42 correlation means their historical movements had little consistent relationship. PSP charges 1.44%/yr vs 0.69%/yr for BOAT.

Performance

PSP vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Listed Private Equity ETF (PSP) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSP achieves a -9.07% return, which is significantly lower than BOAT's 44.78% return.

PSP

• 1D: -0.43%
• 1M: 4.54%
• 6M: -9.78%
• YTD: -9.07%
• 1Y: -8.31%
• 3Y*: 9.22%
• 5Y*: 0.04%
• 10Y*: 8.10%
• ALL TIME*: 2.48%

BOAT

• 1D: -0.74%
• 1M: 13.24%
• 6M: 27.61%
• YTD: 44.78%
• 1Y: 59.34%
• 3Y*: 27.06%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOAT SonicShares Global Shipping ETF	$1.27M	$891.42K	$991.19K
PSP Invesco Global Listed Private Equity ETF	$1.20M	$1.24M	$2.68M

PSP vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSP Invesco Global Listed Private Equity ETF	-9.07%	6.49%	17.42%	37.72%	-37.37%	1.44%
BOAT SonicShares Global Shipping ETF	44.78%	22.77%	5.97%	24.53%	6.26%	21.24%

Correlation

The correlation between PSP and BOAT is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021	0.42

The correlation between PSP and BOAT shifts across timeframes, from 0.28 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.

PSP vs. BOAT - Sectors Allocation Comparison

Sectors	PSP	BOAT
Financial Services	89.5%	6.6%
Industrials	6.9%	29.2%
Consumer Defensive	2.8%	-
Communication Services	1.0%	-
Healthcare	0.3%	-
Consumer Cyclical	0.3%	-
Basic Materials	0.1%	-
Technology	0.1%	-
Energy	-	10.3%
Real Estate	-	-
Utilities	-	-

Return for Risk

PSP vs. BOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PSP

PSP Risk / Return Rank: 5
PSP Sharpe Ratio Rank: 5
PSP Sortino Ratio Rank: 5
PSP Omega Ratio Rank: 5
PSP Calmar Ratio Rank: 6
PSP Martin Ratio Rank: 6

BOAT

BOAT Risk / Return Rank: 93
BOAT Sharpe Ratio Rank: 96
BOAT Sortino Ratio Rank: 94
BOAT Omega Ratio Rank: 92
BOAT Calmar Ratio Rank: 95
BOAT Martin Ratio Rank: 90

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.

PSP vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and SonicShares Global Shipping ETF (BOAT). 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.

	PSP	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	2.85	-3.32
Sortino ratio: Return per unit of downside risk	-0.52	3.70	-4.22
Omega ratio: Gain probability vs. loss probability	0.94	1.46	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.43	5.08	-5.50
Martin ratio: Return relative to average drawdown	-0.81	14.33	-15.15

PSP vs. BOAT - Sharpe Ratio Comparison

The current PSP Sharpe Ratio is -0.47, which is lower than the BOAT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of PSP and BOAT, 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

PSP vs. BOAT - Drawdown Comparison

The maximum PSP drawdown since its inception was -85.40%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for PSP and BOAT.

Drawdown Indicators

	PSP	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-33.94%	-51.46%
Max Drawdown (1Y) Largest decline over 1 year	-22.27%	-11.60%	-10.67%
Max Drawdown (3Y) Largest decline over 3 years	-22.94%	-33.94%	+11.00%
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	-33.94%	-13.22%
Max Drawdown (10Y) Largest decline over 10 years	-47.16%	—	—
Current Drawdown Current decline from peak	-13.51%	-0.74%	-12.77%
Average Drawdown Average peak-to-trough decline	-30.58%	-9.51%	-21.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.63%	4.10%	+7.53%

Volatility

PSP vs. BOAT - Volatility Comparison

The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 4.92%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 7.09%. This indicates that PSP experiences smaller price fluctuations and is considered to be less risky than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSP	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	7.09%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	16.69%	16.87%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	20.19%	20.73%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.88%	25.07%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	25.07%	-2.77%

PSP vs. BOAT - Expense Ratio Comparison

PSP has a 1.44% expense ratio, which is higher than BOAT's 0.69% expense ratio.

Dividends

PSP vs. BOAT - Dividend Comparison

PSP's dividend yield for the trailing twelve months is around 5.99%, less than BOAT's 6.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOAT SonicShares Global Shipping ETF	6.35%	8.08%	13.89%	13.65%	13.57%	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSP Invesco Global Listed Private Equity ETF	5.99%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%

Frequently Asked Questions

Can I hold both PSP and BOAT in my portfolio?

PSP and BOAT have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSP or BOAT?

BOAT has higher volatility (7.09%) compared to PSP (4.92%). In terms of maximum drawdown, PSP dropped -85.40% vs BOAT's -33.94%.

Which ETF is better, PSP or BOAT?

On 3-year performance, BOAT leads with 27.06% vs 9.22% for PSP. On fees, BOAT is cheaper at 0.69% per year. On volatility, PSP has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSP or BOAT?

Over the 3-year period, BOAT has performed better with a 27.06% return vs 9.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSP or BOAT?

BOAT is cheaper with a 0.69% expense ratio, compared with 1.44% for PSP.

Which ETF pays a higher dividend yield, PSP or BOAT?

BOAT has the higher dividend yield at 6.35%, compared with 5.99% for PSP.

What is the main difference between PSP and BOAT?

PSP is categorized as Global Equities, while BOAT is Industrials Equities. PSP tracks Red Rocks Global Listed Private Equity Index, while BOAT tracks Solactive Global Shipping Index. They also come from different issuers: Invesco and Tidal. Their fees differ too: 1.44% for PSP and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.85 vs -0.47), 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.