TIME vs. PSI

Last updated Apr 1, 2026

Compare and contrast key facts about Clockwise Core Equity & Innovation ETF (TIME) and Invesco Semiconductors ETF (PSI).

TIME and PSI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TIME is an actively managed fund by Clockwise Capital. It was launched on Jan 27, 2022. PSI is a passively managed fund by Invesco that tracks the performance of the Dynamic Semiconductors Intellidex Index. It was launched on Jun 23, 2005.

Performance

TIME vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clockwise Core Equity & Innovation ETF (TIME) and Invesco Semiconductors ETF (PSI). The values are adjusted to include any dividend payments, if applicable.

TIME vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TIME Clockwise Core Equity & Innovation ETF	-7.92%	10.17%	6.75%
PSI Invesco Semiconductors ETF	19.68%	36.32%	-4.61%

Returns By Period

In the year-to-date period, TIME achieves a -7.92% return, which is significantly lower than PSI's 19.68% return.

TIME

• 1D: 2.20%
• 1M: -5.68%
• YTD: -7.92%
• 6M: -6.35%
• 1Y: 11.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSI

• 1D: 6.62%
• 1M: -4.66%
• YTD: 19.68%
• 6M: 34.22%
• 1Y: 99.43%
• 3Y*: 32.09%
• 5Y*: 17.89%
• 10Y*: 27.52%

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

TIME vs. PSI - Expense Ratio Comparison

TIME has a 1.00% expense ratio, which is higher than PSI's 0.56% expense ratio.

TIME

Clockwise Core Equity & Innovation ETF

PSI

Invesco Semiconductors ETF

Return for Risk

TIME vs. PSI — Risk / Return Rank

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

TIME

TIME Risk / Return Rank: 40
TIME Sharpe Ratio Rank: 43
TIME Sortino Ratio Rank: 42
TIME Omega Ratio Rank: 39
TIME Calmar Ratio Rank: 37
TIME Martin Ratio Rank: 39

PSI

PSI Risk / Return Rank: 95
PSI Sharpe Ratio Rank: 95
PSI Sortino Ratio Rank: 94
PSI Omega Ratio Rank: 92
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.

TIME vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clockwise Core Equity & Innovation ETF (TIME) 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.

	TIME	PSI	Difference
Sharpe ratio Return per unit of total volatility	0.76	2.29	-1.53
Sortino ratio Return per unit of downside risk	1.13	2.79	-1.67
Omega ratio Gain probability vs. loss probability	1.15	1.39	-0.24
Calmar ratio Return relative to maximum drawdown	0.90	5.26	-4.36
Martin ratio Return relative to average drawdown	3.48	19.05	-15.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIME vs. PSI - Sharpe Ratio Comparison

The current TIME Sharpe Ratio is 0.76, which is lower than the PSI Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of TIME and PSI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TIME	PSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	2.29	-1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.50	-0.24

Correlation

The correlation between TIME and PSI is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TIME vs. PSI - Dividend Comparison

TIME's dividend yield for the trailing twelve months is around 10.88%, more than PSI's 0.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIME Clockwise Core Equity & Innovation ETF	10.88%	10.02%	15.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSI Invesco Semiconductors ETF	0.08%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%

Drawdowns

TIME vs. PSI - Drawdown Comparison

The maximum TIME drawdown since its inception was -24.26%, smaller than the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for TIME and PSI.

Drawdown Indicators

	TIME	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-24.26%	-62.96%	+38.70%
Max Drawdown (1Y) Largest decline over 1 year	-13.09%	-18.67%	+5.58%
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	-11.18%	-9.88%	-1.30%
Average Drawdown Average peak-to-trough decline	-5.94%	-16.05%	+10.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	5.15%	-1.76%

Volatility

TIME vs. PSI - Volatility Comparison

The current volatility for Clockwise Core Equity & Innovation ETF (TIME) is 5.31%, while Invesco Semiconductors ETF (PSI) has a volatility of 16.03%. This indicates that TIME 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

	TIME	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	16.03%	-10.72%
Volatility (6M) Calculated over the trailing 6-month period	10.67%	29.69%	-19.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.02%	43.61%	-28.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.99%	37.38%	-19.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	34.66%	-16.67%