WISE vs. IAK

Last updated Aug 4, 2026

WISE (Themes Generative Artificial Intelligence ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - WISE is a Artificial Intelligence fund tracking the Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past year, WISE returned 0.31% vs 19.67% for IAK. Their 0.04 correlation means their historical movements had little consistent relationship. WISE charges 0.35%/yr vs 0.38%/yr for IAK.

Performance

WISE vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Generative Artificial Intelligence ETF (WISE) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WISE achieves a -8.91% return, which is significantly lower than IAK's 10.11% return.

WISE

• 1D: 3.57%
• 1M: -3.63%
• 6M: -6.05%
• YTD: -8.91%
• 1Y: 0.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.55%

IAK

• 1D: 0.03%
• 1M: -0.03%
• 6M: 12.56%
• YTD: 10.11%
• 1Y: 19.67%
• 3Y*: 19.67%
• 5Y*: 15.99%
• 10Y*: 13.18%
• ALL TIME*: 7.39%

*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)
IAK iShares U.S. Insurance ETF	$15.27M	$20.59M	$12.29M
WISE Themes Generative Artificial Intelligence ETF	$181.34K	$202.97K	$449.21K

WISE vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WISE Themes Generative Artificial Intelligence ETF	-8.91%	5.88%	40.45%	8.33%
IAK iShares U.S. Insurance ETF	10.11%	9.50%	28.25%	1.86%

Correlation

The correlation between WISE and IAK is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.20
Correlation (All Time) Calculated using the full available price history since Dec 8, 2023	0.04

The correlation between WISE and IAK shifts across timeframes, from -0.20 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

WISE vs. IAK - Sectors Allocation Comparison

Sectors	WISE	IAK
Technology	91.3%	-
Consumer Cyclical	3.5%	-
Communication Services	2.9%	-
Industrials	1.3%	-
Healthcare	0.8%	0.7%
Utilities	0.2%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	99.3%
Real Estate	-	-

Return for Risk

WISE vs. IAK — Risk / Return Rank

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

WISE

WISE Risk / Return Rank: 12
WISE Sharpe Ratio Rank: 11
WISE Sortino Ratio Rank: 12
WISE Omega Ratio Rank: 12
WISE Calmar Ratio Rank: 11
WISE Martin Ratio Rank: 11

IAK

IAK Risk / Return Rank: 54
IAK Sharpe Ratio Rank: 49
IAK Sortino Ratio Rank: 49
IAK Omega Ratio Rank: 47
IAK Calmar Ratio Rank: 72
IAK Martin Ratio Rank: 52

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. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) and iShares U.S. Insurance ETF (IAK). 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	IAK	Difference
Sharpe ratio: Return per unit of total volatility	0.01	1.24	-1.23
Sortino ratio: Return per unit of downside risk	0.26	1.81	-1.55
Omega ratio: Gain probability vs. loss probability	1.03	1.22	-0.19
Calmar ratio: Return relative to maximum drawdown	0.01	2.59	-2.58
Martin ratio: Return relative to average drawdown	0.02	6.29	-6.28

WISE vs. IAK - Sharpe Ratio Comparison

The current WISE Sharpe Ratio is 0.01, which is lower than the IAK Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of WISE and IAK, 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. IAK - Drawdown Comparison

The maximum WISE drawdown since its inception was -39.15%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for WISE and IAK.

Drawdown Indicators

	WISE	IAK	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-77.38%	+38.23%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	-7.62%	-26.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.95%	—
Current Drawdown Current decline from peak	-22.45%	-3.20%	-19.25%
Average Drawdown Average peak-to-trough decline	-12.34%	-16.01%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.28%	3.13%	+13.15%

Volatility

WISE vs. IAK - Volatility Comparison

Themes Generative Artificial Intelligence ETF (WISE) has a higher volatility of 11.39% compared to iShares U.S. Insurance ETF (IAK) at 6.56%. This indicates that WISE's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WISE	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.39%	6.56%	+4.83%
Volatility (6M) Calculated over the trailing 6-month period	27.27%	12.42%	+14.85%
Volatility (1Y) Calculated over the trailing 1-year period	35.04%	15.99%	+19.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.06%	18.13%	+15.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.06%	20.92%	+13.14%

WISE vs. IAK - Expense Ratio Comparison

WISE has a 0.35% expense ratio, which is lower than IAK's 0.38% expense ratio.

Dividends

WISE vs. IAK - Dividend Comparison

WISE's dividend yield for the trailing twelve months is around 4.53%, more than IAK's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAK iShares U.S. Insurance ETF	2.42%	1.69%	1.49%	1.44%	1.69%	2.26%	2.07%	1.84%	2.33%	1.62%	1.68%	1.62%
WISE Themes Generative Artificial Intelligence ETF	4.53%	4.12%	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 WISE and IAK in my portfolio?

WISE and IAK have a correlation of -0.20, 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 IAK?

WISE has higher volatility (11.39%) compared to IAK (6.56%). In terms of maximum drawdown, WISE dropped -39.15% vs IAK's -77.38%.

Which ETF is better, WISE or IAK?

On 1-year performance, IAK leads with 19.67% vs 0.31% for WISE. On fees, WISE is cheaper at 0.35% per year. On volatility, IAK has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WISE or IAK?

Over the 1-year period, IAK has performed better with a 19.67% return vs 0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WISE or IAK?

WISE is cheaper with a 0.35% expense ratio, compared with 0.38% for IAK.

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

WISE has the higher dividend yield at 4.53%, compared with 2.42% for IAK.

What is the main difference between WISE and IAK?

WISE is categorized as Artificial Intelligence, while IAK is Financials Equities. WISE tracks Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: Themes and iShares. Their fees differ too: 0.35% for WISE and 0.38% for IAK.

Which has better risk-adjusted returns?

IAK currently has the higher Sharpe Ratio (1.24 vs 0.01), 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.