VLUE vs. PSI

Last updated Jun 13, 2026

VLUE (iShares MSCI USA Value Factor ETF) and PSI (Invesco Semiconductors ETF) are both exchange-traded funds - VLUE is a Large Cap Value Equities fund tracking the MSCI USA Enhanced Value Index, while PSI is a Semiconductors fund tracking the Dynamic Semiconductors Intellidex Index. Both are passively managed. Over the past 10 years, VLUE returned 15.38%/yr vs 34.59%/yr for PSI. A 0.68 correlation means they provide meaningful diversification when combined. VLUE charges 0.15%/yr vs 0.56%/yr for PSI.

Performance

VLUE vs. PSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Value Factor ETF (VLUE) 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, VLUE achieves a 45.72% return, which is significantly lower than PSI's 112.90% return. Over the past 10 years, VLUE has underperformed PSI with an annualized return of 15.38%, while PSI has yielded a comparatively higher 34.59% annualized return.

VLUE

• 1D: 0.40%
• 1M: 7.90%
• YTD: 45.72%
• 6M: 46.53%
• 1Y: 83.16%
• 3Y*: 31.47%
• 5Y*: 16.01%
• 10Y*: 15.38%

PSI

• 1D: 3.00%
• 1M: 10.45%
• YTD: 112.90%
• 6M: 110.54%
• 1Y: 198.40%
• 3Y*: 55.80%
• 5Y*: 32.57%
• 10Y*: 34.59%

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

VLUE vs. PSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLUE iShares MSCI USA Value Factor ETF	45.72%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%
PSI Invesco Semiconductors ETF	112.90%	36.32%	17.17%	49.06%	-34.43%	46.55%	56.75%	52.49%	-11.55%	40.16%

Correlation

The correlation between VLUE and PSI is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 18, 2013	0.68

The correlation between VLUE and PSI has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

VLUE vs. PSI - Sectors Allocation Comparison

Sectors	VLUE	PSI
Technology	44.5%	97.6%
Financial Services	10.4%	-
Healthcare	8.5%	-
Communication Services	8.3%	-
Consumer Cyclical	8.3%	-
Industrials	7.4%	2.4%
Consumer Defensive	4.0%	-
Energy	3.2%	-
Utilities	2.0%	-
Real Estate	1.8%	-
Basic Materials	1.6%	-

Return for Risk

VLUE vs. PSI — Risk / Return Rank

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

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 97
VLUE Omega Ratio Rank: 96
VLUE Calmar Ratio Rank: 97
VLUE Martin Ratio Rank: 97

PSI

PSI Risk / Return Rank: 97
PSI Sharpe Ratio Rank: 98
PSI Sortino Ratio Rank: 95
PSI Omega Ratio Rank: 94
PSI Calmar Ratio Rank: 98
PSI Martin Ratio Rank: 98

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.

VLUE vs. PSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Value Factor ETF (VLUE) 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.

	VLUE	PSI	Difference
Sharpe ratio: Return per unit of total volatility	4.55	4.92	-0.37
Sortino ratio: Return per unit of downside risk	5.75	4.57	+1.17
Omega ratio: Gain probability vs. loss probability	1.77	1.63	+0.15
Calmar ratio: Return relative to maximum drawdown	9.25	12.90	-3.65
Martin ratio: Return relative to average drawdown	39.16	45.29	-6.13

VLUE vs. PSI - Sharpe Ratio Comparison

The current VLUE Sharpe Ratio is 4.55, which is comparable to the PSI Sharpe Ratio of 4.92. The chart below compares the historical Sharpe Ratios of VLUE 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.

Drawdowns

VLUE vs. PSI - Drawdown Comparison

The maximum VLUE drawdown since its inception was -39.47%, smaller than the maximum PSI drawdown of -62.96%. Use the drawdown chart below to compare losses from any high point for VLUE and PSI.

Drawdown Indicators

	VLUE	PSI	Difference
Max Drawdown Largest peak-to-trough decline	-39.47%	-62.96%	+23.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-15.48%	+6.44%
Max Drawdown (3Y) Largest decline over 3 years	-17.89%	-41.07%	+23.18%
Max Drawdown (5Y) Largest decline over 5 years	-27.12%	-44.85%	+17.73%
Max Drawdown (10Y) Largest decline over 10 years	-39.47%	-44.85%	+5.38%
Current Drawdown Current decline from peak	-2.61%	0.00%	-2.61%
Average Drawdown Average peak-to-trough decline	-6.01%	-15.92%	+9.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	4.40%	-2.27%

Volatility

VLUE vs. PSI - Volatility Comparison

The current volatility for iShares MSCI USA Value Factor ETF (VLUE) is 8.83%, while Invesco Semiconductors ETF (PSI) has a volatility of 18.89%. This indicates that VLUE 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

	VLUE	PSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.83%	18.89%	-10.06%
Volatility (6M) Calculated over the trailing 6-month period	15.31%	33.67%	-18.36%
Volatility (1Y) Calculated over the trailing 1-year period	18.38%	40.58%	-22.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.00%	38.44%	-20.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.91%	35.42%	-15.51%

VLUE vs. PSI - Expense Ratio Comparison

VLUE has a 0.15% expense ratio, which is lower than PSI's 0.56% expense ratio.

Dividends

VLUE vs. PSI - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 1.43%, more than PSI's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSI Invesco Semiconductors ETF	0.04%	0.10%	0.15%	0.40%	0.61%	0.14%	0.21%	0.52%	0.83%	0.21%	0.68%	0.16%
VLUE iShares MSCI USA Value Factor ETF	1.43%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both VLUE and PSI in my portfolio?

VLUE and PSI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLUE or PSI?

PSI has higher volatility (18.89%) compared to VLUE (8.83%). In terms of maximum drawdown, VLUE dropped -39.47% vs PSI's -62.96%.

Which ETF is better, VLUE or PSI?

On 10-year performance, PSI leads with 34.59% vs 15.38% for VLUE. On fees, VLUE is cheaper at 0.15% per year. On volatility, VLUE has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLUE or PSI?

Over the 10-year period, PSI has performed better with a 34.59% return vs 15.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLUE or PSI?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.56% for PSI.

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

VLUE has the higher dividend yield at 1.43%, compared with 0.04% for PSI.

What is the main difference between VLUE and PSI?

VLUE is categorized as Large Cap Value Equities, while PSI is Semiconductors. VLUE tracks MSCI USA Enhanced Value Index, while PSI tracks Dynamic Semiconductors Intellidex Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for VLUE and 0.56% for PSI.

Which has better risk-adjusted returns?

PSI currently has the higher Sharpe Ratio (4.92 vs 4.55), 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.