Key characteristics
| IDRV | DRIV | |
|---|---|---|
| YTD Return | 5.78% | 25.17% |
| 1Y Return | 4.87% | 23.82% |
| 3Y Return (Ann) | -4.11% | 2.61% |
| Sharpe Ratio | 0.05 | 0.86 |
| Daily Std Dev | 28.23% | 23.56% |
| Max Drawdown | -42.72% | -39.24% |
Correlation
0.94
-1.001.00
The correlation between IDRV and DRIV is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
IDRV vs. DRIV - Performance Comparison
In the year-to-date period, IDRV achieves a 5.78% return, which is significantly lower than DRIV's 25.17% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
IDRV
DRIV
Compare stocks, funds, or ETFs
IDRV vs. DRIV - Dividend Comparison
IDRV's dividend yield for the trailing twelve months is around 2.53%, more than DRIV's 1.27% yield.
| TTM | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|
IDRV iShares Self-driving EV & Tech ETF | 2.53% | 2.29% | 1.11% | 0.69% | 1.29% | 0.00% |
DRIV Global X Autonomous & Electric Vehicles ETF | 1.27% | 1.24% | 0.32% | 0.29% | 1.23% | 2.79% |
IDRV vs. DRIV - Expense Ratio Comparison
IDRV has a 0.47% expense ratio, which is lower than DRIV's 0.68% expense ratio.
0.68%
0.00%2.15%
IDRV vs. DRIV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Self-driving EV & Tech ETF (IDRV) and Global X Autonomous & Electric Vehicles ETF (DRIV). 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.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
|---|---|---|---|---|---|
IDRV iShares Self-driving EV & Tech ETF | 0.05 | ||||
DRIV Global X Autonomous & Electric Vehicles ETF | 0.86 |
IDRV vs. DRIV - Sharpe Ratio Comparison
The current IDRV Sharpe Ratio is 0.05, which is lower than the DRIV Sharpe Ratio of 0.86. The chart below compares the 12-month rolling Sharpe Ratio of IDRV and DRIV.
IDRV
DRIV
IDRV vs. DRIV - Drawdown Comparison
The maximum IDRV drawdown for the period was -42.72%, roughly equal to the maximum DRIV drawdown of -33.93%. The drawdown chart below compares losses from any high point along the way for IDRV and DRIV
IDRV
DRIV
IDRV vs. DRIV - Volatility Comparison
iShares Self-driving EV & Tech ETF (IDRV) has a higher volatility of 8.71% compared to Global X Autonomous & Electric Vehicles ETF (DRIV) at 5.56%. This indicates that IDRV's price experiences larger fluctuations and is considered to be riskier than DRIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
IDRV
DRIV
Alright, let me dive into this analysis. Based on the evidence provided, it's clear that we're comparing two exchange-traded funds (ETFs) focused on the self-driving electric vehicle and technology sector: iShares Self-driving EV & Tech ETF (IDRV) and Global X Autonomous & Electric Vehicles ETF (DRIV).
-
Key Characteristics:
- YTD Return:
- IDRV: 5.78%
- DRIV: 25.17%
- 1-Year Return:
- IDRV: 4.87%
- DRIV: 23.82%
- 3-Year Return (Annualized):
- IDRV: -4.11%
- DRIV: 2.61%
- Sharpe Ratio:
- IDRV: 0.05
- DRIV: 0.86
- Daily Std Dev:
- IDRV: 28.23%
- DRIV: 23.56%
- Max Drawdown:
- IDRV: -42.72%
- DRIV: -39.24%
- Correlation between IDRV and DRIV:
- 0.94 (considered high)
- YTD Return:
-
Performance Comparison:
- In the YTD period, DRIV significantly outperforms IDRV.
-
Dividend Comparison:
- IDRV has a higher trailing twelve months dividend yield (2.53%) compared to DRIV (1.27%).
-
Expense Ratio Comparison:
- IDRV has a lower expense ratio (0.47%) compared to DRIV (0.68%).
-
Risk-Adjusted Performance Comparison:
- Various metrics like Sharpe ratio, Sortino ratio, Omega ratio, Calmar ratio, and Ulcer Index are used for risk-adjusted performance evaluation.
-
Sharpe Ratio Comparison:
- IDRV's Sharpe Ratio (0.05) is lower than DRIV's (0.86).
-
Drawdown Comparison:
- Maximum drawdown for IDRV (-42.72%) is roughly equal to DRIV's drawdown (-33.93%).
-
Volatility Comparison:
- IDRV has higher volatility (8.71%) compared to DRIV (5.56%), indicating higher price fluctuations and perceived higher risk.
In conclusion, DRIV appears to have better performance in terms of returns, lower drawdown, and a higher Sharpe ratio. However, IDRV has a higher dividend yield and lower expense ratio. The high correlation between IDRV and DRIV suggests a potential lack of diversification if both are held in a portfolio. Depending on an investor's goals and risk tolerance, either ETF could be a suitable choice.
