XOVR vs. CHAT

Last updated Aug 4, 2026

XOVR (ERShares Private-Public Crossover ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both exchange-traded funds - XOVR is a Large Cap Growth Equities fund actively managed by ERShares, while CHAT is a Artificial Intelligence fund actively managed by Roundhill. Both are actively managed. Over the past 3 years, XOVR returned 16.81%/yr vs 43.86%/yr for CHAT. Their 0.78 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.75% expense ratio.

Performance

XOVR vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ERShares Private-Public Crossover ETF (XOVR) 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, XOVR achieves a -4.47% return, which is significantly lower than CHAT's 44.67% return.

XOVR

• 1D: 3.44%
• 1M: -8.38%
• 6M: 4.57%
• YTD: -4.47%
• 1Y: -0.88%
• 3Y*: 16.81%
• 5Y*: 3.37%
• 10Y*: —
• ALL TIME*: 9.77%

CHAT

• 1D: 4.08%
• 1M: -3.93%
• 6M: 36.65%
• YTD: 44.67%
• 1Y: 75.75%
• 3Y*: 43.86%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 46.88%

*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)
CHAT Roundhill Generative AI & Technology ETF	$62.52M	$56.73M	$66.46M
XOVR ERShares Private-Public Crossover ETF	$32.19M	$37.02M	$109.67M

XOVR vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XOVR ERShares Private-Public Crossover ETF	-4.47%	11.83%	33.21%	22.56%
CHAT Roundhill Generative AI & Technology ETF	44.67%	49.85%	30.98%	21.04%

Correlation

The correlation between XOVR and CHAT is 0.65, 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.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (All Time) Calculated using the full available price history since May 18, 2023	0.78

The correlation between XOVR and CHAT shifts across timeframes, from 0.65 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

XOVR vs. CHAT - Sectors Allocation Comparison

Sectors	XOVR	CHAT
Technology	34.5%	78.9%
Communication Services	24.2%	15.2%
Healthcare	18.5%	-
Financial Services	9.9%	0.0%
Consumer Cyclical	6.7%	2.3%
Industrials	6.2%	3.6%
Energy	3.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XOVR vs. CHAT — Risk / Return Rank

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

XOVR

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

CHAT

CHAT Risk / Return Rank: 76
CHAT Sharpe Ratio Rank: 82
CHAT Sortino Ratio Rank: 72
CHAT Omega Ratio Rank: 74
CHAT Calmar Ratio Rank: 76
CHAT Martin Ratio Rank: 74

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.

XOVR vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ERShares Private-Public Crossover ETF (XOVR) 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.

	XOVR	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	1.94	-1.98
Sortino ratio: Return per unit of downside risk	0.11	2.36	-2.25
Omega ratio: Gain probability vs. loss probability	1.01	1.31	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.04	2.69	-2.72
Martin ratio: Return relative to average drawdown	-0.08	9.40	-9.47

XOVR vs. CHAT - Sharpe Ratio Comparison

The current XOVR Sharpe Ratio is -0.04, which is lower than the CHAT Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of XOVR 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

XOVR vs. CHAT - Drawdown Comparison

The maximum XOVR drawdown since its inception was -56.28%, which is greater than CHAT's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for XOVR and CHAT.

Drawdown Indicators

	XOVR	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-56.28%	-31.34%	-24.94%
Max Drawdown (1Y) Largest decline over 1 year	-24.32%	-28.34%	+4.02%
Max Drawdown (3Y) Largest decline over 3 years	-25.23%	-31.34%	+6.11%
Max Drawdown (5Y) Largest decline over 5 years	-49.35%	—	—
Current Drawdown Current decline from peak	-11.38%	-18.04%	+6.66%
Average Drawdown Average peak-to-trough decline	-18.21%	-5.75%	-12.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.53%	8.09%	+3.44%

Volatility

XOVR vs. CHAT - Volatility Comparison

The current volatility for ERShares Private-Public Crossover ETF (XOVR) is 7.84%, while Roundhill Generative AI & Technology ETF (CHAT) has a volatility of 16.63%. This indicates that XOVR 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

	XOVR	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.84%	16.63%	-8.79%
Volatility (6M) Calculated over the trailing 6-month period	19.11%	34.48%	-15.37%
Volatility (1Y) Calculated over the trailing 1-year period	23.67%	39.30%	-15.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.68%	32.47%	-5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.03%	32.47%	-5.44%

XOVR vs. CHAT - Expense Ratio Comparison

Both XOVR and CHAT have an expense ratio of 0.75%.

Dividends

XOVR vs. CHAT - Dividend Comparison

XOVR has not paid dividends to shareholders, while CHAT's dividend yield for the trailing twelve months is around 1.97%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHAT Roundhill Generative AI & Technology ETF	1.97%	2.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XOVR ERShares Private-Public Crossover ETF	0.00%	0.00%	0.00%	0.00%	0.00%	57.75%	6.31%	0.08%	3.71%	0.08%

Frequently Asked Questions

Can I hold both XOVR and CHAT in my portfolio?

XOVR and CHAT have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOVR or CHAT?

CHAT has higher volatility (16.63%) compared to XOVR (7.84%). In terms of maximum drawdown, XOVR dropped -56.28% vs CHAT's -31.34%.

Which ETF is better, XOVR or CHAT?

On 3-year performance, CHAT leads with 43.86% vs 16.81% for XOVR. Both ETFs have the same 0.75% expense ratio. On volatility, XOVR has been the lower-risk option at 7.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOVR or CHAT?

Over the 3-year period, CHAT has performed better with a 43.86% return vs 16.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOVR or CHAT?

XOVR and CHAT have the same expense ratio: 0.75% per year.

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

CHAT has the higher dividend yield at 1.97%, compared with 0.00% for XOVR.

What is the main difference between XOVR and CHAT?

XOVR is categorized as Large Cap Growth Equities, while CHAT is Artificial Intelligence. They also come from different issuers: ERShares and Roundhill.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (1.94 vs -0.04), 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.