Do AIPO and DRAI hold the same stocks?

By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, AIPO or DRAI?

AIPO has 68% of its weight in S&P 500 names and DRAI has 0%, so DRAI differs more from the index.

Which is cheaper, AIPO or DRAI?

AIPO charges 0.69% a year and DRAI charges 1.32%, so AIPO is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

AIPO vs DRAI: Holdings Overlap & Returns

Share on X Download as PDF

Over the year to Nov 4, 2026, AIPO returned −1.7% to DRAI's +6.2%; 0% of their weight is in the same names.

askIQ about this page

askIQ about AIPO and DRAI

Net assets: $831m on Nov 3, 2026 for Defiance AI & Power Infrastructure ETF, and $21m on Aug 31, 2026 for Draco Evolution AI ETF.

AIPO on its own →DRAI on its own →

At a glance

67.6%

AIPO in the S&P 500

0.0%

DRAI in the S&P 500

−1.7%

AIPO total return, 1 year

+6.2%

DRAI total return, 1 year

AIPO · 1 year to Nov 4, 2026 32% of its weight is outside the S&P 500

68% of AIPO's weight is in S&P 500 companies and 32% is outside the index. Holdings as of Nov 4, 2026.

DRAI · 1 year to Nov 4, 2026 100% of its weight is outside the S&P 500

0% of DRAI's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

AIPO costs 0.63 points a year less; their one-year returns differ by 7.9 points.

Points (pts) are percentage points.

AIPO vs DRAI: Holdings Overlap & Returns
Measure	AIPO	DRAI
Return
Measure	AIPO	DRAI
Total return, 1 year	−1.7%	+6.2%
Drawdown
Measure	AIPO	DRAI
Below its all-time high	32.0%, high on Jun 22, 2026	11.9%, high on Jun 2, 2026
Against its benchmark
Measure	AIPO	DRAI
What it tracks	AI infrastructure and chips	Artificial intelligence
Against the S&P 500, 1 year	behind by 16.5 pts
Its benchmark, total return, 1 year	+14.8%	+14.4%
Against its benchmark, 1 year	behind by 16.5 pts	behind by 8.2 pts
Cost and size
Measure	AIPO	DRAI
Expense ratio	0.69%	1.32%
Net assets, AIPO as of Nov 3, 2026 and DRAI as of Aug 31, 2026	$831m	$21m
Holdings
Measure	AIPO	DRAI
Holdings in common	0%

Method

Risk and return

Aug 1, 2025 to Oct 30, 2026 · 65 weekly returns

AIPO DRAI

Return

Total return edge AIPO +22.4% +15.3%

Annualized edge AIPO +17.5% +12.1%

Price return edge AIPO +22.3% +12.8%

Risk

Volatility edge DRAI 28.6% 13.6%

Max drawdown edge DRAI −29.3% −11.8%

Downside capture 138.1% 99.5%

Beta 1.53 0.82

Risk-adjusted

Sharpe edge DRAI (slight) 0.57 0.62

Sortino edge DRAI 0.83 1.05

Treynor 0.107 0.127

Calmar edge DRAI 0.60 1.03

Against the benchmark

Alpha −4.4% a year +0.6% a year

Alpha t-stat −0.21 0.08

Information ratio 0.12 −0.15

Tracking error 23.4% 11.1%

Each against its own benchmark: AIPO against VOO, Aug 1, 2025 to Oct 30, 2026; DRAI against GUSA, Jul 19, 2024 to Oct 30, 2026.

Reading

From Aug 2025 to Oct 2026, AIPO returned more: +22.4% to +15.3%. DRAI swung less: 13.6% to 28.6%. DRAI fell less at its worst: −11.8% to −29.3%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: AIPO vs DRAI: Holdings Overlap & Returns
Measure	AIPO	DRAI	Edge	How it is measured
Return
Total return	+22.4%	+15.3%	AIPO	Price change plus distributions, reinvested.
Annualized	+17.5%	+12.1%	AIPO	Total return as a yearly rate.
Price return	+22.3%	+12.8%	AIPO	Price change alone, distributions left out.
Risk
Volatility	28.6%	13.6%	DRAI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	19.9%	8.1%	DRAI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−29.3%	−11.8%	DRAI	Deepest fall from a high to the low after it.
Upside capture	155.8%	93.8%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	138.1%	99.5%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.53	0.82	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.38	0.57	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.57	0.62	DRAI (slight)	Return above Treasury bills per unit of volatility.
Sortino	0.83	1.05	DRAI	Return above Treasury bills per unit of downside deviation.
Treynor	0.107	0.127		Return above Treasury bills per unit of beta.
Calmar	0.60	1.03	DRAI	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	VOO	GUSA		The ETF each fund is measured against.
Alpha	−4.4% a year	+0.6% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.21	0.08	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−45.7% to +36.8%	−13.6% to +14.7%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.12	−0.15		Return against its benchmark per unit of tracking error.
Tracking error	23.4%	11.1%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 65 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, AIPO and DRAI hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AIPO DRAI

Only in one fund ↓

Only in AIPO

Quanta Services Inc 9.16%

Ge Vernova Inc 8.67%

Eaton Corp Plc 8.42%

Vertiv Holdings Co 6.59%

Bloom Energy Corp 4.69%

Nvidia Corp 4.44%

Broadcom Inc 4.42%

Alphabet Inc 4.33%

Only in DRAI

WisdomTree Bloomberg U.S. Dollar Bullish Fund 32.74%

iShares 20+ Year Treasury Bond ETF 21.13%

iShares Gold Trust 13.26%

ProShares UltraPro QQQ 6.59%

Direxion Daily S&P 500 Bull 3X ETF 6.48%

Check overlap with more funds →

Window by window

Window by window: AIPO vs DRAI: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	AIPO	DRAI	AIPO	DRAI
3 months	−21.5%	−6.3%	−21.4 pts vs VOO	−5.8 pts vs GUSA
6 months	−29.0%	−8.9%	−34.0 pts vs VOO	−13.6 pts vs GUSA
1 year	−1.7%	+6.2%	−16.5 pts vs VOO	−8.2 pts vs GUSA
Since launchNot the same days: AIPO Jul 2025 · DRAI Jul 2024	+16.2%	+29.5%	−5.9 pts vs VOO	−11.0 pts vs GUSA

Open this comparison in the app →

Side by side

AIPO Defiance AI & Power Infrastructure ETF · Holds 86 stocks in aI infrastructure and chips, 68% of its weight in S&P 500 companies DRAI Draco Evolution AI ETF · Holds 5 stocks in artificial intelligence, 0% of its weight in S&P 500 companies

Issuer Defiance Draco Evolution

Theme AI infrastructure and chips Artificial intelligence

In the S&P 500 67.6% 0.0%

Active share vs the S&P 500 85.7% 100.0%

In the Nasdaq-100 23.5% 0.0%

Holdings 86 5

Top ten, share of the fund 57.7% 80.2%

Expense ratio 0.69% 1.32%

Fee for the differing part 0.81% 1.32%

Total return, 1 year −1.7% +6.2%

vs its benchmark −16.5 pts vs VOO −8.2 pts vs GUSA

Below its high −32.0% −11.9%

Net assets, AIPO as of Nov 3, 2026 and DRAI as of Aug 31, 2026 $831m $21m

As of Nov 4, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Client brief:

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

Alert

About each fund

AIPO

By weight, 68% of AIPO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 58% of the fund across 86 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned −1.7% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Total Return Index, so a holder was behind by 16.5 pts. It sits 32.0% below its all-time high of Jun 22, 2026.

DRAI

Over the year to Nov 4, 2026 the fund returned +6.2% with distributions reinvested against +14.4% for its benchmark, the Solactive GBS United States 1000 Total Return Index, so a holder was behind by 8.2 pts.

By weight, 0% of DRAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 80% of the fund across 5 positions, as filed for Aug 31, 2026. It sits 11.9% below its all-time high of Jun 2, 2026.

Questions people ask

Do AIPO and DRAI hold the same stocks?: By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, AIPO or DRAI?: AIPO has 68% of its weight in S&P 500 names and DRAI has 0%, so DRAI differs more from the index.
Which is cheaper, AIPO or DRAI?: AIPO charges 0.69% a year and DRAI charges 1.32%, so AIPO is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIPO vs DRGN AIPO vs WDRN AIPO vs PBOT AIPO vs HLTH DRAI vs TCAI DRAI vs CHPX DRAI vs IVEP DRAI vs AIHY

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AIPO on its own →DRAI on its own →AIPO dividend history →AIPO holdings →DRAI dividend history →DRAI holdings →Method →Standards and sources →

Sources and dates

AIPO filings on SEC EDGAR ↗

AIPO prospectus with the expense ratio (SEC) ↗

Defiance page for AIPO ↗

DRAI filings on SEC EDGAR ↗

DRAI prospectus with the expense ratio (SEC) ↗

Draco Evolution page for DRAI ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AIPO against DRAI, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aipo-vs-drai

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.