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Themes US Infrastructure ETF (HWAY) Sharpe Ratio: 2.39

ETF · Currency in USD · Last updated Jun 23, 2026

The Themes US Infrastructure ETF seeks to track the Solactive United States Infrastructure Index, investing in U.S. infrastructure companies tied to building materials, construction, logistics, and engineering services.

HWAY's Sharpe Ratio of 2.39 indicates that for each unit of volatility, it generates 2.39 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 23, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

HWAY Sharpe Ratio Rank

HWAY Sharpe Ratio Rank: 77.778
Above Average

HWAY ranks above 77.7% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating above-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Above-average risk-adjusted returns with room for improvement
  • Compare against category peers to gauge relative positioning
  • Monitor for movement toward top tier or decline toward median
  • Consider pairing with top-tier holdings to improve portfolio efficiency

HWAY Sharpe Ratio Market Positioning

The chart shows HWAY's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.86 or lower
  • Yellow zone (middle 50%): 0.86 to 2.31
  • Green zone (top 25%): 2.31 or higher
  • Top 1%: 7.41+
  • Median: 1.67 — half of all investments score higher

How it compares to other similar ETFs

The table compares Themes US Infrastructure ETF's Sharpe Ratio with other ETFs in the Industrials Equities category across multiple time periods, showing how HWAY's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 23, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
ROKTSPDR S&P Kensho Final Frontiers ETF2.85
MADEiShares U.S. Manufacturing ETF2.60
PRNInvesco DWA Industrials Momentum ETF2.49
HWAYThemes US Infrastructure ETF2.39
RBLDFirst Trust Alerian U.S. NextGen Infrastructure ETF2.29
IFRAiShares U.S. Infrastructure ETF2.26
PAVEGlobal X US Infrastructure Development ETF2.19
HVACAdvisorShares HVAC and Industrials ETF2.18
FTXRFirst Trust Nasdaq Transportation ETF2.16
KARSKraneShares Electric Vehicles and Future Mobility Index ETF2.14

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows HWAY's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when HWAY consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does HWAY fit in your portfolio?

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