USMD vs. PSI

Last updated Aug 5, 2026

USMD (CoreValues America First Technology ETF) and PSI (Invesco Semiconductors ETF) are both exchange-traded funds - USMD is a Technology Equities fund actively managed by CoreValues, while PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. USMD is actively managed, while PSI is passively managed. Their 0.80 correlation means they have sometimes moved together and sometimes differently. USMD charges 0.87%/yr vs 0.56%/yr for PSI.

Performance

USMD vs. PSI - Performance Comparison

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

Returns By Period

USMD

• 1D: 4.53%
• 1M: 2.48%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PSI

• 1D: 5.69%
• 1M: -6.97%
• 6M: 56.60%
• YTD: 86.43%
• 1Y: 144.07%
• 3Y*: 47.53%
• 5Y*: 27.95%
• 10Y*: 31.27%
• ALL TIME*: 17.88%

*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)
PSI Invesco Semiconductors ETF	$79.02M	$65.33M	$74.92M
USMD CoreValues America First Technology ETF	$990.75	$1.45K	$638.40

USMD vs. PSI - Yearly Performance Comparison

	2026 (YTD)
USMD CoreValues America First Technology ETF	26.12%
PSI Invesco Semiconductors ETF	59.79%

Correlation

The correlation between USMD and PSI is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 6, 2026	0.80

Return for Risk

USMD vs. PSI — Risk / Return Rank

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

USMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PSI

PSI Risk / Return Rank: 89
PSI Sharpe Ratio Rank: 95
PSI Sortino Ratio Rank: 84
PSI Omega Ratio Rank: 86
PSI Calmar Ratio Rank: 90
PSI Martin Ratio Rank: 93

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.

USMD vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoreValues America First Technology ETF (USMD) 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.

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.

	USMD	PSI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.89	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	4.06	—
Martin ratio: Return relative to average drawdown	—	17.89	—

Drawdowns

USMD vs. PSI - Drawdown Comparison

The maximum USMD drawdown since its inception was -16.64%, smaller than the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for USMD and PSI.

Drawdown Indicators

	USMD	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-62.96%	+46.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.74%	—
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	-5.38%	-21.73%	+16.35%
Average Drawdown Average peak-to-trough decline	-4.10%	-15.92%	+11.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.09%	—

Volatility

Volatility by Period

	USMD	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.69%	50.26%	-22.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.69%	40.69%	-13.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.69%	36.61%	-8.92%

USMD vs. PSI - Expense Ratio Comparison

USMD has a 0.87% expense ratio, which is higher than PSI's 0.56% expense ratio.

Dividends

USMD vs. PSI - Dividend Comparison

USMD has not paid dividends to shareholders, while PSI's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSI Invesco Semiconductors ETF	0.03%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%
USMD CoreValues America First Technology ETF	0.00%	0.00%	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 USMD and PSI in my portfolio?

USMD and PSI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USMD or PSI?

On fees, PSI is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USMD or PSI?

PSI is cheaper with a 0.56% expense ratio, compared with 0.87% for USMD.

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

PSI has the higher dividend yield at 0.03%, compared with 0.00% for USMD.

What is the main difference between USMD and PSI?

USMD is categorized as Technology Equities, while PSI is Semiconductors. They also come from different issuers: CoreValues and Invesco. Their fees differ too: 0.87% for USMD and 0.56% for PSI.