GET DAILY SIGNALSInvesco Semiconductors ETF (PSI) Drops -16% in 30 Days and -25% Over the Quarter
Key Takeaways
- The Invesco Semiconductors ETF (PSI) declined roughly 16% over the trailing 30 days, reflecting a broad sell-off across semiconductors and AI infrastructure.
- Over the last quarter, the fund fell approximately 25%, marking a sharp correction from its recent highs.
- The drawdown was driven by concerns over AI data-center expansion, policy uncertainty following the U.S. midterm elections, and softer guidance from several large chipmakers.
- Heavyweight holdings such as Intel (INTC), Advanced Micro Devices (AMD), and Micron Technology (MU) fell sharply, amplifying the fund's decline.
- With essentially 100% technology exposure, the ETF is highly sensitive to swings in semiconductor sentiment and valuations.
- For deeper insight, explore the Price Targets and Forecast pages for PSI.
- Discover automated strategies with Trending AI Robots.
PSI Overview and Portfolio Exposure
PSI tracks the Dynamic Semiconductor Intellidex Index, a benchmark built using a quantitative model to select and weight U.S. semiconductor companies. The fund generally invests at least 90% of its assets in index constituents, holding roughly 30 to 33 names across the chip ecosystem. Its investment objective is to track the index before fees and expenses, and it carries a net expense ratio of 0.55%. Assets under management (AUM) exceed $2 billion.
The portfolio is effectively 100% information technology, concentrated in pure-play semiconductor and related equipment companies. Among the largest positions are Texas Instruments (TXN), Advanced Micro Devices (AMD), Analog Devices (ADI), Intel (INTC), Micron Technology (MU), KLA (KLAC), Applied Materials (AMAT), and Lam Research (LRCX). This mix spans analog chips, memory, processors, and semiconductor capital equipment. Because the fund is non-diversified and heavily weighted to a single cyclical sector, it tends to amplify both rallies and corrections in chip stocks. I also checked this using Tickeron’s AI Screener to see how the holdings compare to others in the industry.
PSI Price Performance: Last 30 Days vs. Quarter
Over the trailing 30 days, PSI fell approximately 16%, retreating from a level near $134 to roughly $113. The decline was not gradual: the fund experienced a period of relative stability before a sharp, multi-session drawdown, followed by a partial rebound that left it well below its recent peak.
The quarterly picture is even more pronounced. Compared with three months earlier, when the fund traded near $151, PSI is down roughly 25%. This means the bulk of the fund's three-month loss was concentrated in the most recent weeks, confirming that the latest leg lower was a fast-moving, volatility-driven repricing rather than a slow drift.
What Drove PSI Price in the Last 30 Days
The most recent decline was led by a broad rotation out of semiconductor and AI-infrastructure stocks. After the U.S. midterm elections, investors grew concerned that a new political balance in Congress could translate into tighter scrutiny and potential restrictions on data-center construction, a key source of demand for advanced chips. These worries rippled across the entire AI investment complex.
Company-specific news compounded the pressure. Intel fell sharply after issuing downbeat forward revenue guidance tied to softness in the personal-computer market and a production disruption. Memory and processor names, including Micron and AMD, also declined steeply as investors questioned the pace of AI capital spending. Equipment suppliers such as Applied Materials and Lam Research followed suit. Because several of these names rank among PSI's largest holdings, their weakness had an outsized effect on the fund's net asset value (NAV).
What Drove PSI Performance Over the Last Quarter
The broader three-month trend reflects a shift in how the market prices the AI buildout. For much of the year, semiconductor equities benefited from extraordinary demand for memory, accelerators, and analog power-management components, alongside rising prices for DRAM and high-bandwidth memory. As valuations climbed, investors became more sensitive to questions about the durability and returns of AI capital expenditure.
That sensitivity turned into de-risking during the quarter, with institutional investors trimming crowded technology positions. The fund's concentration in a single cyclical sector meant it had little cushion from defensive holdings. The result was a correction driven less by deteriorating fundamentals than by a repricing of growth expectations and elevated policy uncertainty.
PSI ETF Outlook: What Investors Should Watch Next
Several factors are likely to shape PSI over the coming months. The most important is the trajectory of AI and data-center capital spending, which underpins demand for processors, memory, and equipment. Any shift in cloud-provider budgets, financing conditions, or power availability could influence the entire semiconductor complex. Regulatory developments at the state and federal level also bear watching, given emerging debate over data-center construction.
Company earnings will remain a key swing factor, particularly forward guidance from memory, processor, and equipment suppliers. Macroeconomic conditions, including interest-rate expectations and inflation trends, matter because semiconductor equities are sensitive to long-duration growth assumptions. Memory pricing, which has been a powerful earnings driver, will also be closely monitored for signs of a cycle peak. While recent volatility has reset valuations, the sector's path will likely hinge on whether fundamentals confirm that demand remains intact. From what I see, I’m watching this closely as the next earnings season unfolds.
Using Tickeron’s AI Tools in My Research
In my analysis, I often turn to Tickeron’s AI Screener to scan for sector trends and compare momentum across semiconductor names. It helps surface relevant data points quickly when evaluating concentrated ETFs like PSI, allowing me to cross-check technical signals alongside the fundamentals I’ve already reviewed. This approach keeps my process efficient without replacing core due diligence.
Disclaimer
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PSI's Indicator enters downward trend
The Aroon Indicator for PSI entered a downward trend on November 12, 2026. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 119 similar instances where the Aroon Indicator formed such a pattern. In 109 of the 119 cases the stock moved lower. This puts the odds of a downward move at 90%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 09, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on PSI as a result. In 79 of 93 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 85%.
PSI moved below its 50-day moving average on October 12, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for PSI crossed bearishly below the 50-day moving average on October 19, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 14 of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 88%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PSI declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 84%.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where PSI's RSI Indicator exited the oversold zone, 20 of 20 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 90%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 47 of 52 cases where PSI's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 90%.
The Moving Average Convergence Divergence (MACD) for PSI just turned positive on November 11, 2026. Looking at past instances where PSI's MACD turned positive, the stock continued to rise in 50 of 55 cases over the following month. The odds of a continued upward trend are 90%.
Following a +16.53% 3-day Advance, the price is estimated to grow further. Considering data from situations where PSI advanced for three days, in 308 of 348 cases, the price rose further within the following month. The odds of a continued upward trend are 89%.
PSI may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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