TEK vs. PSI

Last updated Jun 5, 2026

TEK (iShares Technology Opportunities Active ETF) and PSI (Invesco Semiconductors ETF) are both exchange-traded funds - TEK is a Technology Equities fund actively managed by iShares, while PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. TEK is actively managed, while PSI is passively managed. Over the past year, TEK returned 61.28% vs 200.06% for PSI. A 0.79 correlation means they provide meaningful diversification when combined. TEK charges 0.75%/yr vs 0.56%/yr for PSI.

Performance

TEK vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Technology Opportunities Active ETF (TEK) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEK achieves a 39.87% return, which is significantly lower than PSI's 104.81% return.

TEK

• 1D: -1.99%
• 1M: 13.74%
• YTD: 39.87%
• 6M: 37.87%
• 1Y: 61.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSI

• 1D: -1.40%
• 1M: 15.64%
• YTD: 104.81%
• 6M: 101.91%
• 1Y: 200.06%
• 3Y*: 57.17%
• 5Y*: 31.49%
• 10Y*: 34.03%

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

TEK vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TEK iShares Technology Opportunities Active ETF	39.87%	18.63%	2.35%
PSI Invesco Semiconductors ETF	104.81%	36.32%	2.53%

Correlation

The correlation between TEK and PSI is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	0.79

The correlation between TEK and PSI has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

TEK vs. PSI - Sectors Allocation Comparison

Sectors	TEK	PSI
Technology	85.2%	97.6%
Communication Services	6.0%	-
Consumer Cyclical	3.9%	-
Industrials	2.8%	2.4%
Basic Materials	0.9%	-
Financial Services	0.4%	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TEK vs. PSI — Risk / Return Rank

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

TEK

TEK Risk / Return Rank: 66
TEK Sharpe Ratio Rank: 75
TEK Sortino Ratio Rank: 68
TEK Omega Ratio Rank: 67
TEK Calmar Ratio Rank: 66
TEK Martin Ratio Rank: 54

PSI

PSI Risk / Return Rank: 96
PSI Sharpe Ratio Rank: 98
PSI Sortino Ratio Rank: 94
PSI Omega Ratio Rank: 94
PSI Calmar Ratio Rank: 98
PSI 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.

TEK vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Technology Opportunities Active ETF (TEK) and Invesco Semiconductors ETF (PSI). 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.

	TEK	PSI	Difference
Sharpe ratio: Return per unit of total volatility	2.40	5.34	-2.95
Sortino ratio: Return per unit of downside risk	3.06	4.97	-1.92
Omega ratio: Gain probability vs. loss probability	1.39	1.67	-0.27
Calmar ratio: Return relative to maximum drawdown	3.19	13.01	-9.82
Martin ratio: Return relative to average drawdown	9.29	47.17	-37.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEK vs. PSI - Sharpe Ratio Comparison

The current TEK Sharpe Ratio is 2.40, which is lower than the PSI Sharpe Ratio of 5.34. The chart below compares the historical Sharpe Ratios of TEK and PSI, 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

	TEK	PSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	5.34	-2.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	0.59	+0.75

Drawdowns

TEK vs. PSI - Drawdown Comparison

The maximum TEK drawdown since its inception was -28.24%, smaller than the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for TEK and PSI.

Drawdown Indicators

	TEK	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-28.24%	-62.96%	+34.72%
Max Drawdown (1Y) Largest decline over 1 year	-19.29%	-15.48%	-3.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.07%	—
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	-2.64%	-1.40%	-1.24%
Average Drawdown Average peak-to-trough decline	-5.88%	-15.93%	+10.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.62%	4.26%	+2.36%

Volatility

TEK vs. PSI - Volatility Comparison

The current volatility for iShares Technology Opportunities Active ETF (TEK) is 9.38%, while Invesco Semiconductors ETF (PSI) has a volatility of 13.55%. This indicates that TEK experiences smaller price fluctuations and is considered to be less risky than PSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEK	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	13.55%	-4.17%
Volatility (6M) Calculated over the trailing 6-month period	21.28%	30.12%	-8.84%
Volatility (1Y) Calculated over the trailing 1-year period	25.71%	37.72%	-12.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.20%	37.84%	-8.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.20%	35.09%	-5.89%

TEK vs. PSI - Expense Ratio Comparison

TEK has a 0.75% expense ratio, which is higher than PSI's 0.56% expense ratio.

Dividends

TEK vs. PSI - Dividend Comparison

TEK's dividend yield for the trailing twelve months is around 1.16%, more than PSI's 0.05% 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%
TEK iShares Technology Opportunities Active ETF	1.16%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEK and PSI in my portfolio?

TEK and PSI have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEK or PSI?

PSI has higher volatility (13.55%) compared to TEK (9.38%). In terms of maximum drawdown, TEK dropped -28.24% vs PSI's -62.96%.

Which ETF is better, TEK or PSI?

On 1-year performance, PSI leads with 200.06% vs 61.28% for TEK. On fees, PSI is cheaper at 0.56% per year. On volatility, TEK has been the lower-risk option at 9.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEK or PSI?

Over the 1-year period, PSI has performed better with a 200.06% return vs 61.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEK or PSI?

PSI is cheaper with a 0.56% expense ratio, compared with 0.75% for TEK.

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

TEK has the higher dividend yield at 1.16%, compared with 0.05% for PSI.

What is the main difference between TEK and PSI?

TEK is categorized as Technology Equities, while PSI is Semiconductors. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.75% for TEK and 0.56% for PSI.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (5.34 vs 2.40), 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.