WISE vs. CHAT

Last updated Aug 2, 2026

WISE (Themes Generative Artificial Intelligence ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both Artificial Intelligence funds. WISE is passively managed, while CHAT is actively managed. Over the past year, WISE returned -3.15% vs 68.87% for CHAT. Their 0.79 correlation means they have sometimes moved together and sometimes differently. WISE charges 0.35%/yr vs 0.75%/yr for CHAT.

Performance

WISE vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Generative Artificial Intelligence ETF (WISE) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WISE achieves a -12.05% return, which is significantly lower than CHAT's 39.01% return.

WISE

• 1D: 2.08%
• 1M: -6.95%
• 6M: -9.01%
• YTD: -12.05%
• 1Y: -3.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.08%

CHAT

• 1D: 2.22%
• 1M: -7.69%
• 6M: 32.64%
• YTD: 39.01%
• 1Y: 68.87%
• 3Y*: 40.54%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.20%

*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)
CHAT Roundhill Generative AI & Technology ETF	$58.63M	$57.19M	$67.40M
WISE Themes Generative Artificial Intelligence ETF	$174.31K	$417.19K	$446.26K

WISE vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WISE Themes Generative Artificial Intelligence ETF	-12.05%	5.88%	40.45%	8.33%
CHAT Roundhill Generative AI & Technology ETF	39.01%	49.85%	30.98%	5.21%

Correlation

The correlation between WISE and CHAT is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Dec 8, 2023	0.79

The correlation between WISE and CHAT has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

WISE vs. CHAT - Sectors Allocation Comparison

Sectors	WISE	CHAT
Technology	91.3%	78.9%
Consumer Cyclical	3.5%	2.3%
Communication Services	2.9%	15.2%
Industrials	1.3%	3.6%
Healthcare	0.8%	-
Utilities	0.2%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Real Estate	-	-

Return for Risk

WISE vs. CHAT — Risk / Return Rank

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

WISE

WISE Risk / Return Rank: 9
WISE Sharpe Ratio Rank: 8
WISE Sortino Ratio Rank: 9
WISE Omega Ratio Rank: 9
WISE Calmar Ratio Rank: 8
WISE Martin Ratio Rank: 8

CHAT

CHAT Risk / Return Rank: 66
CHAT Sharpe Ratio Rank: 73
CHAT Sortino Ratio Rank: 63
CHAT Omega Ratio Rank: 64
CHAT Calmar Ratio Rank: 65
CHAT Martin Ratio Rank: 66

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.

WISE vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) and Roundhill Generative AI & Technology ETF (CHAT). 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.

	WISE	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	1.63	-1.79
Sortino ratio: Return per unit of downside risk	0.01	2.08	-2.07
Omega ratio: Gain probability vs. loss probability	1.00	1.27	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.16	2.25	-2.42
Martin ratio: Return relative to average drawdown	-0.34	7.96	-8.30

WISE vs. CHAT - Sharpe Ratio Comparison

The current WISE Sharpe Ratio is -0.16, which is lower than the CHAT Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of WISE and CHAT, 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

WISE vs. CHAT - Drawdown Comparison

The maximum WISE drawdown since its inception was -39.15%, which is greater than CHAT's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for WISE and CHAT.

Drawdown Indicators

	WISE	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-31.34%	-7.81%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	-28.34%	-5.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.34%	—
Current Drawdown Current decline from peak	-25.13%	-21.25%	-3.88%
Average Drawdown Average peak-to-trough decline	-12.32%	-5.73%	-6.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.22%	8.01%	+8.21%

Volatility

WISE vs. CHAT - Volatility Comparison

The current volatility for Themes Generative Artificial Intelligence ETF (WISE) is 11.38%, while Roundhill Generative AI & Technology ETF (CHAT) has a volatility of 16.74%. This indicates that WISE experiences smaller price fluctuations and is considered to be less risky than CHAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WISE	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.38%	16.74%	-5.36%
Volatility (6M) Calculated over the trailing 6-month period	27.21%	34.39%	-7.18%
Volatility (1Y) Calculated over the trailing 1-year period	34.88%	39.18%	-4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.01%	32.41%	+1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.01%	32.41%	+1.60%

WISE vs. CHAT - Expense Ratio Comparison

WISE has a 0.35% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

WISE vs. CHAT - Dividend Comparison

WISE's dividend yield for the trailing twelve months is around 4.69%, more than CHAT's 2.05% yield.

Position	TTM	2025
CHAT Roundhill Generative AI & Technology ETF	2.05%	2.85%
WISE Themes Generative Artificial Intelligence ETF	4.69%	4.12%

Frequently Asked Questions

Can I hold both WISE and CHAT in my portfolio?

WISE and CHAT 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, WISE or CHAT?

CHAT has higher volatility (16.74%) compared to WISE (11.38%). In terms of maximum drawdown, WISE dropped -39.15% vs CHAT's -31.34%.

Which ETF is better, WISE or CHAT?

On 1-year performance, CHAT leads with 68.87% vs -3.15% for WISE. On fees, WISE is cheaper at 0.35% per year. On volatility, WISE has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WISE or CHAT?

Over the 1-year period, CHAT has performed better with a 68.87% return vs -3.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WISE or CHAT?

WISE is cheaper with a 0.35% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, WISE or CHAT?

WISE has the higher dividend yield at 4.69%, compared with 2.05% for CHAT.

What is the main difference between WISE and CHAT?

They also come from different issuers: Themes and Roundhill. Their fees differ too: 0.35% for WISE and 0.75% for CHAT.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (1.63 vs -0.16), 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.