PSI — Invesco Semiconductors ETF

PSI Price Performance — Growth of $10,000

Value of a $10,000 investment in PSI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

PSI Drawdown

The "underwater" chart: PSI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco Semiconductors ETF, trading under the ticker PSI, operates within the Technology category managed by issuer Invesco. With assets under management totaling $3.10 billion and a share price of $129.38, the fund reflects significant investor adoption relative to its peers. It holds an overall rank of #117 among 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 69.3 out of 100. The fund carries an expense ratio of 0.56% and offers a dividend yield of 0.14%. These metrics position the ETF as a mid-tier option within a category containing 17 other tracked funds. The substantial asset base suggests established liquidity, while the moderate expense ratio aligns with active management costs in the sector.

Recent price action shows a sharp decline, with the ETF falling 7.21% over one day and 9.88% over one week. This short-term weakness extended into the month, resulting in a 27.04% drop over the last 30 days, though the three-month return stabilized at -4.05%. A significant reversal occurred over the six-month period, where the fund gained 40.24%, contributing to a year-to-date return of 56.14%. Long-term performance has been particularly robust, with a one-year return of 114.53% and a three-year return of 170.51%. This trajectory indicates a pattern where severe short-term volatility has been overshadowed by strong multi-year appreciation. The divergence between the recent monthly decline and the substantial annual gains highlights the fund's cyclical nature.

The fund is classified with a Very High volatility label and exhibits a beta of 2.26, indicating price movements that are more than double the magnitude of the broader market. This high sensitivity is reflected in a maximum drawdown of -41.07%, demonstrating the potential for significant capital erosion during market downturns. Despite the elevated risk profile, the ETF has achieved a Sharpe ratio of 2.25, suggesting that the returns generated have historically compensated well for the volatility incurred. The combination of a high beta and a deep maximum drawdown implies the fund experiences amplified swings in both up and down markets. Investors face substantial short-term risk, yet the strong Sharpe ratio points to effective risk-adjusted performance over the measured periods.

AI-generated summary based on the data on this page.

PSI Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 48.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how PSI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With PSI

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with PSI's top 10 — SOXQ overlaps most, holding 7 of the same companies as PSI's top 10 (33.0% of PSI's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PSI Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.44% and average daily volume is 444K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $3.10B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: PSI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

PSI Performance History

How PSI Compares to Other Technology ETFs