PXQ vs. BAI

Last updated Jun 24, 2026

PXQ (Invesco Next Gen Connectivity ETF) and BAI (iShares A.I. Innovation and Tech Active ETF) are both Technology Equities funds. PXQ is passively managed, while BAI is actively managed. Over the past year, PXQ returned 84.85% vs 86.14% for BAI. Their correlation of 0.84 suggests significant overlap in exposure. PXQ charges 0.40%/yr vs 0.55%/yr for BAI.

Performance

PXQ vs. BAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Connectivity ETF (PXQ) and iShares A.I. Innovation and Tech Active ETF (BAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PXQ achieves a 54.15% return, which is significantly higher than BAI's 49.94% return.

PXQ

• 1D: -5.38%
• 1M: 5.48%
• YTD: 54.15%
• 6M: 54.94%
• 1Y: 84.85%
• 3Y*: 40.93%
• 5Y*: 19.32%
• 10Y*: 21.11%

BAI

• 1D: -7.93%
• 1M: 4.43%
• YTD: 49.94%
• 6M: 47.29%
• 1Y: 86.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PXQ vs. BAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PXQ Invesco Next Gen Connectivity ETF	54.15%	28.65%	0.99%
BAI iShares A.I. Innovation and Tech Active ETF	49.94%	25.22%	8.89%

Correlation

The correlation between PXQ and BAI is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024	0.85

The correlation between PXQ and BAI has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

PXQ vs. BAI - Sectors Allocation Comparison

Sectors	PXQ	BAI
Technology	84.4%	88.8%
Communication Services	11.4%	3.9%
Real Estate	3.2%	-
Industrials	0.8%	4.6%
Financial Services	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	2.6%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.7%
Utilities	-	-

Return for Risk

PXQ vs. BAI — Risk / Return Rank

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

PXQ

PXQ Risk / Return Rank: 93
PXQ Sharpe Ratio Rank: 95
PXQ Sortino Ratio Rank: 90
PXQ Omega Ratio Rank: 92
PXQ Calmar Ratio Rank: 95
PXQ Martin Ratio Rank: 95

BAI

BAI Risk / Return Rank: 74
BAI Sharpe Ratio Rank: 77
BAI Sortino Ratio Rank: 60
BAI Omega Ratio Rank: 65
BAI Calmar Ratio Rank: 90
BAI Martin Ratio Rank: 77

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.

PXQ vs. BAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (PXQ) and iShares A.I. Innovation and Tech Active ETF (BAI). 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.

	PXQ	BAI	Difference
Sharpe ratio: Return per unit of total volatility	3.42	2.32	+1.10
Sortino ratio: Return per unit of downside risk	3.96	2.70	+1.25
Omega ratio: Gain probability vs. loss probability	1.57	1.37	+0.20
Calmar ratio: Return relative to maximum drawdown	6.94	5.34	+1.60
Martin ratio: Return relative to average drawdown	30.00	14.08	+15.92

PXQ vs. BAI - Sharpe Ratio Comparison

The current PXQ Sharpe Ratio is 3.42, which is higher than the BAI Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of PXQ and BAI, 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

PXQ vs. BAI - Drawdown Comparison

The maximum PXQ drawdown since its inception was -57.18%, which is greater than BAI's maximum drawdown of -34.09%. Use the drawdown chart below to compare losses from any high point for PXQ and BAI.

Drawdown Indicators

	PXQ	BAI	Difference
Max Drawdown Largest peak-to-trough decline	-57.18%	-34.09%	-23.09%
Max Drawdown (1Y) Largest decline over 1 year	-12.30%	-16.22%	+3.92%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	—	—
Current Drawdown Current decline from peak	-6.27%	-7.93%	+1.66%
Average Drawdown Average peak-to-trough decline	-10.73%	-6.87%	-3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	6.14%	-3.30%

Volatility

PXQ vs. BAI - Volatility Comparison

The current volatility for Invesco Next Gen Connectivity ETF (PXQ) is 15.64%, while iShares A.I. Innovation and Tech Active ETF (BAI) has a volatility of 20.05%. This indicates that PXQ experiences smaller price fluctuations and is considered to be less risky than BAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PXQ	BAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.64%	20.05%	-4.41%
Volatility (6M) Calculated over the trailing 6-month period	21.75%	31.41%	-9.66%
Volatility (1Y) Calculated over the trailing 1-year period	25.15%	37.30%	-12.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.96%	37.40%	-13.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.33%	37.40%	-14.07%

PXQ vs. BAI - Expense Ratio Comparison

PXQ has a 0.40% expense ratio, which is lower than BAI's 0.55% expense ratio.

Dividends

PXQ vs. BAI - Dividend Comparison

PXQ's dividend yield for the trailing twelve months is around 0.62%, less than BAI's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BAI iShares A.I. Innovation and Tech Active ETF	1.19%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PXQ Invesco Next Gen Connectivity ETF	0.62%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%

Frequently Asked Questions

Can I hold both PXQ and BAI in my portfolio?

PXQ and BAI have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PXQ or BAI?

BAI has higher volatility (20.05%) compared to PXQ (15.64%). In terms of maximum drawdown, PXQ dropped -57.18% vs BAI's -34.09%.

Which ETF is better, PXQ or BAI?

On 1-year performance, BAI leads with 86.14% vs 84.85% for PXQ. On fees, PXQ is cheaper at 0.40% per year. On volatility, PXQ has been the lower-risk option at 15.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PXQ or BAI?

Over the 1-year period, BAI has performed better with a 86.14% return vs 84.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PXQ or BAI?

PXQ is cheaper with a 0.40% expense ratio, compared with 0.55% for BAI.

Which ETF pays a higher dividend yield, PXQ or BAI?

BAI has the higher dividend yield at 1.19%, compared with 0.62% for PXQ.

What is the main difference between PXQ and BAI?

They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for PXQ and 0.55% for BAI.

Which has better risk-adjusted returns?

PXQ currently has the higher Sharpe Ratio (3.42 vs 2.32), 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.