VOLT vs. AIPO

Last updated Aug 2, 2026

VOLT (Tema Electrification ETF) and AIPO (Defiance AI & Power Infrastructure ETF) are both exchange-traded funds - VOLT is a Global Equities fund actively managed by Tema, while AIPO is a Artificial Intelligence fund tracking the MarketVector™ US Listed AI and Power Infrastructure Index. VOLT is actively managed, while AIPO is passively managed. Over the past year, VOLT returned 38.01% vs 42.03% for AIPO. Their correlation of 0.85 means they have usually moved in the same direction. VOLT charges 0.75%/yr vs 0.69%/yr for AIPO.

Performance

VOLT vs. AIPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Electrification ETF (VOLT) and Defiance AI & Power Infrastructure ETF (AIPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VOLT having a 28.30% return and AIPO slightly higher at 29.43%.

VOLT

• 1D: 1.62%
• 1M: -5.26%
• 6M: 15.18%
• YTD: 28.30%
• 1Y: 38.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.26%

AIPO

• 1D: 0.63%
• 1M: -7.73%
• 6M: 16.62%
• YTD: 29.43%
• 1Y: 42.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 40.92%

*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)
AIPO Defiance AI & Power Infrastructure ETF	$40.86M	$38.41M	$47.30M
VOLT Tema Electrification ETF	$11.21M	$11.77M	$15.67M

VOLT vs. AIPO - Yearly Performance Comparison

	2026 (YTD)	2025
VOLT Tema Electrification ETF	28.30%	8.53%
AIPO Defiance AI & Power Infrastructure ETF	29.43%	9.46%

Correlation

The correlation between VOLT and AIPO is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.85

The correlation between VOLT and AIPO has been stable across timeframes, ranging from 0.85 to 0.85 - a consistent structural relationship.

VOLT vs. AIPO - Sectors Allocation Comparison

Sectors	VOLT	AIPO
Industrials	50.4%	58.0%
Utilities	28.2%	15.3%
Technology	14.1%	15.7%
Energy	4.7%	6.8%
Consumer Cyclical	2.6%	0.7%
Basic Materials	1.4%	-
Financial Services	0.5%	2.9%
Communication Services	-	0.5%
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	0.9%

Return for Risk

VOLT vs. AIPO — Risk / Return Rank

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

VOLT

VOLT Risk / Return Rank: 63
VOLT Sharpe Ratio Rank: 66
VOLT Sortino Ratio Rank: 61
VOLT Omega Ratio Rank: 61
VOLT Calmar Ratio Rank: 61
VOLT Martin Ratio Rank: 67

AIPO

AIPO Risk / Return Rank: 43
AIPO Sharpe Ratio Rank: 42
AIPO Sortino Ratio Rank: 42
AIPO Omega Ratio Rank: 41
AIPO Calmar Ratio Rank: 45
AIPO Martin Ratio Rank: 47

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.

VOLT vs. AIPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Electrification ETF (VOLT) and Defiance AI & Power Infrastructure ETF (AIPO). 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.

	VOLT	AIPO	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.05	+0.46
Sortino ratio: Return per unit of downside risk	2.04	1.53	+0.51
Omega ratio: Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio: Return relative to maximum drawdown	2.14	1.61	+0.52
Martin ratio: Return relative to average drawdown	8.15	5.40	+2.75

VOLT vs. AIPO - Sharpe Ratio Comparison

The current VOLT Sharpe Ratio is 1.50, which is higher than the AIPO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of VOLT and AIPO, 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

VOLT vs. AIPO - Drawdown Comparison

The maximum VOLT drawdown since its inception was -23.40%, roughly equal to the maximum AIPO drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for VOLT and AIPO.

Drawdown Indicators

	VOLT	AIPO	Difference
Max Drawdown Largest peak-to-trough decline	-23.40%	-24.36%	+0.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.22%	-24.36%	+7.14%
Current Drawdown Current decline from peak	-11.75%	-17.66%	+5.91%
Average Drawdown Average peak-to-trough decline	-5.34%	-5.28%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	7.27%	-2.77%

Volatility

VOLT vs. AIPO - Volatility Comparison

The current volatility for Tema Electrification ETF (VOLT) is 9.95%, while Defiance AI & Power Infrastructure ETF (AIPO) has a volatility of 14.51%. This indicates that VOLT experiences smaller price fluctuations and is considered to be less risky than AIPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOLT	AIPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.95%	14.51%	-4.56%
Volatility (6M) Calculated over the trailing 6-month period	21.11%	29.84%	-8.73%
Volatility (1Y) Calculated over the trailing 1-year period	24.43%	37.46%	-13.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.46%	37.20%	-11.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.46%	37.20%	-11.74%

VOLT vs. AIPO - Expense Ratio Comparison

VOLT has a 0.75% expense ratio, which is higher than AIPO's 0.69% expense ratio.

Dividends

VOLT vs. AIPO - Dividend Comparison

VOLT's dividend yield for the trailing twelve months is around 0.36%, more than AIPO's 0.01% yield.

Position	TTM	2025	2024
AIPO Defiance AI & Power Infrastructure ETF	0.01%	0.01%	0.00%
VOLT Tema Electrification ETF	0.36%	0.46%	0.01%

Frequently Asked Questions

Can I hold both VOLT and AIPO in my portfolio?

VOLT and AIPO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOLT or AIPO?

AIPO has higher volatility (14.51%) compared to VOLT (9.95%). In terms of maximum drawdown, VOLT dropped -23.40% vs AIPO's -24.36%.

Which ETF is better, VOLT or AIPO?

On 1-year performance, AIPO leads with 42.03% vs 38.01% for VOLT. On fees, AIPO is cheaper at 0.69% per year. On volatility, VOLT has been the lower-risk option at 9.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VOLT or AIPO?

Over the 1-year period, AIPO has performed better with a 42.03% return vs 38.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOLT or AIPO?

AIPO is cheaper with a 0.69% expense ratio, compared with 0.75% for VOLT.

Which ETF pays a higher dividend yield, VOLT or AIPO?

VOLT has the higher dividend yield at 0.36%, compared with 0.01% for AIPO.

What is the main difference between VOLT and AIPO?

VOLT is categorized as Global Equities, while AIPO is Artificial Intelligence. They also come from different issuers: Tema and Defiance. Their fees differ too: 0.75% for VOLT and 0.69% for AIPO.

Which has better risk-adjusted returns?

VOLT currently has the higher Sharpe Ratio (1.50 vs 1.05), 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.