CHPS vs PSI

CHPSAXtrackers Semiconductor Select Equity ETF

PSIBInvesco Semiconductors ETF

In short

CHPS Semiconductors without the semiconductor markup. CHPS tracks a global chip index with an ESG screen baked in, holds roughly 50 names, and charges 0.15%, undercutting the category's household names.

PSI Most chip ETFs rank the giants by size. PSI runs a quant screen instead: roughly 30 US semiconductor stocks picked on momentum, earnings, quality, management action and value, reshuffled quarterly. 0.55% a year.

Stated mandate

CHPS The fund seeks investment results corresponding generally to the performance of the Solactive Semiconductor ESG Screened Index before fees and expenses.

PSI The fund seeks capital appreciation and normally invests at least 90% of total assets in common stocks comprising the Dynamic Semiconductor Intellidex Index.

Why people hold it

• CHPS At 0.15%, one of the cheapest doors into chips. SMH and SOXX each charge more than double.
• Global mandate, so foreign foundries and equipment makers are in scope, not just the US-listed marquee names.
• The ESG screen sits inside the index itself: the chip universe gets filtered before the portfolio is built.
• Simple plumbing. Roughly 50 holdings, one published index, cash paid out quarterly.

• PSI The index scores US chip companies on price momentum, earnings momentum, quality, management action and value, then holds roughly 30 of them.invesco.comsec.gov
• The roster is rebalanced and reconstituted every quarter, so the screen keeps re-sorting the group instead of letting one ranking sit for years.invesco.com
• Built from US semiconductor companies, so it is a domestic chip sleeve rather than a global one.sec.gov
• Running since 2005, now a multi-billion-dollar fund in a crowded category, and it pays quarterly.

Worth knowing

• CHPS Trades thinly next to SMH and SOXX. Spreads can be wider, and size takes more care to get filled.
• Launched in 2023, so the record is short against chip funds that have lived through several boom-bust cycles.
• The screen excludes some chip companies outright, so the lineup can look different from unscreened rivals.

• PSI At 0.55% it costs more than the typical semiconductor ETF; index rivals CHPS (0.15%) and SOXQ (0.19%) charge less for cap-weighted exposure.
• One industry, roughly 30 names, and the fund is non-diversified, so a few stocks can steer results and chip cycles swing hard.sec.gov
• The quarterly re-sort means the portfolio can look quite different from a cap-weighted chip index, in either direction.invesco.com

Full CHPS profile⁠

Full PSI profile⁠