XSW vs. AIS

Last updated Jul 17, 2026

XSW (SPDR S&P Software & Services ETF) and AIS (VistaShares Artificial Intelligence Supercycle ETF) are both Technology Equities funds. XSW is passively managed, while AIS is actively managed. Over the past year, XSW returned -5.28% vs 138.90% for AIS. At a 0.49 correlation, their price movements are largely independent. XSW charges 0.35%/yr vs 0.75%/yr for AIS.

Performance

XSW vs. AIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Software & Services ETF (XSW) and VistaShares Artificial Intelligence Supercycle ETF (AIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSW achieves a -4.36% return, which is significantly lower than AIS's 78.05% return.

XSW

• 1D: 0.21%
• 1M: 7.23%
• 6M: -2.25%
• YTD: -4.36%
• 1Y: -5.28%
• 3Y*: 8.28%
• 5Y*: 1.74%
• 10Y*: 13.27%

AIS

• 1D: -6.21%
• 1M: -13.86%
• 6M: 62.79%
• YTD: 78.05%
• 1Y: 138.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSW vs. AIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XSW SPDR S&P Software & Services ETF	-4.36%	-0.90%	-3.11%
AIS VistaShares Artificial Intelligence Supercycle ETF	78.05%	58.35%	-4.74%

Correlation

The correlation between XSW and AIS is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.49

The correlation between XSW and AIS shifts across timeframes, from 0.32 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

XSW vs. AIS - Sectors Allocation Comparison

Sectors	XSW	AIS
Technology	85.9%	86.2%
Financial Services	9.0%	-0.1%
Communication Services	2.7%	-
Consumer Cyclical	1.1%	-
Healthcare	0.8%	-
Industrials	0.6%	7.8%
Basic Materials	-	-
Consumer Defensive	-	0.3%
Energy	-	-
Real Estate	-	-
Utilities	-	2.9%

Return for Risk

XSW vs. AIS — Risk / Return Rank

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

XSW

XSW Risk / Return Rank: 8
XSW Sharpe Ratio Rank: 8
XSW Sortino Ratio Rank: 8
XSW Omega Ratio Rank: 7
XSW Calmar Ratio Rank: 8
XSW Martin Ratio Rank: 8

AIS

AIS Risk / Return Rank: 92
AIS Sharpe Ratio Rank: 96
AIS Sortino Ratio Rank: 87
AIS Omega Ratio Rank: 89
AIS Calmar Ratio Rank: 95
AIS Martin Ratio Rank: 95

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.

XSW vs. AIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) and VistaShares Artificial Intelligence Supercycle ETF (AIS). 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.

	XSW	AIS	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	3.09	-3.27
Sortino ratio: Return per unit of downside risk	-0.06	3.17	-3.23
Omega ratio: Gain probability vs. loss probability	0.99	1.44	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.16	5.84	-6.00
Martin ratio: Return relative to average drawdown	-0.32	22.17	-22.49

XSW vs. AIS - Sharpe Ratio Comparison

The current XSW Sharpe Ratio is -0.18, which is lower than the AIS Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of XSW and AIS, 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

XSW vs. AIS - Drawdown Comparison

The maximum XSW drawdown since its inception was -45.38%, which is greater than AIS's maximum drawdown of -32.78%. Use the drawdown chart below to compare losses from any high point for XSW and AIS.

Drawdown Indicators

	XSW	AIS	Difference
Max Drawdown Largest peak-to-trough decline	-45.38%	-32.78%	-12.60%
Max Drawdown (1Y) Largest decline over 1 year	-33.75%	-23.93%	-9.82%
Max Drawdown (3Y) Largest decline over 3 years	-33.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.38%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.38%	—	—
Current Drawdown Current decline from peak	-12.79%	-23.93%	+11.14%
Average Drawdown Average peak-to-trough decline	-9.89%	-5.78%	-4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.73%	6.29%	+10.44%

Volatility

XSW vs. AIS - Volatility Comparison

The current volatility for SPDR S&P Software & Services ETF (XSW) is 7.86%, while VistaShares Artificial Intelligence Supercycle ETF (AIS) has a volatility of 22.66%. This indicates that XSW experiences smaller price fluctuations and is considered to be less risky than AIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSW	AIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.86%	22.66%	-14.80%
Volatility (6M) Calculated over the trailing 6-month period	24.48%	40.58%	-16.10%
Volatility (1Y) Calculated over the trailing 1-year period	29.07%	45.26%	-16.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.03%	42.83%	-13.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.28%	42.83%	-16.55%

XSW vs. AIS - Expense Ratio Comparison

XSW has a 0.35% expense ratio, which is lower than AIS's 0.75% expense ratio.

Dividends

XSW vs. AIS - Dividend Comparison

Neither XSW nor AIS has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIS VistaShares Artificial Intelligence Supercycle ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSW SPDR S&P Software & Services ETF	0.00%	0.06%	0.07%	0.20%	0.09%	0.13%	0.26%	0.12%	0.31%	0.46%	0.87%	0.54%

Frequently Asked Questions

Can I hold both XSW and AIS in my portfolio?

XSW and AIS have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSW or AIS?

AIS has higher volatility (22.66%) compared to XSW (7.86%). In terms of maximum drawdown, XSW dropped -45.38% vs AIS's -32.78%.

Which ETF is better, XSW or AIS?

On 1-year performance, AIS leads with 138.90% vs -5.28% for XSW. On fees, XSW is cheaper at 0.35% per year. On volatility, XSW has been the lower-risk option at 7.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSW or AIS?

Over the 1-year period, AIS has performed better with a 138.90% return vs -5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSW or AIS?

XSW is cheaper with a 0.35% expense ratio, compared with 0.75% for AIS.

Which ETF pays a higher dividend yield, XSW or AIS?

XSW and AIS have nearly identical dividend yields, around 0.00%.

What is the main difference between XSW and AIS?

They also come from different issuers: State Street and VistaShares. Their fees differ too: 0.35% for XSW and 0.75% for AIS.

Which has better risk-adjusted returns?

AIS currently has the higher Sharpe Ratio (3.09 vs -0.18), 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.