ATMP vs. PAVE

Last updated Jun 4, 2026

ATMP (Barclays ETN+ Select MLP ETN) and PAVE (Global X US Infrastructure Development ETF) are both exchange-traded funds - ATMP is a MLPs fund tracking the CIBC Atlas Select MLP VWAP, while PAVE is a Utilities Equities fund tracking the INDXX U.S. Infrastructure Development Index. Both are passively managed. Over the past 5 years, ATMP returned 15.87%/yr vs 17.39%/yr for PAVE. A 0.51 correlation means they provide meaningful diversification when combined. ATMP charges 0.95%/yr vs 0.47%/yr for PAVE.

Performance

ATMP vs. PAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Barclays ETN+ Select MLP ETN (ATMP) and Global X US Infrastructure Development ETF (PAVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ATMP having a 20.02% return and PAVE slightly lower at 19.88%.

ATMP

• 1D: 0.07%
• 1M: -2.32%
• YTD: 20.02%
• 6M: 19.57%
• 1Y: 18.01%
• 3Y*: 21.17%
• 5Y*: 15.87%
• 10Y*: 4.90%

PAVE

• 1D: 0.70%
• 1M: 1.96%
• YTD: 19.88%
• 6M: 18.87%
• 1Y: 37.15%
• 3Y*: 26.78%
• 5Y*: 17.39%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATMP vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATMP Barclays ETN+ Select MLP ETN	20.02%	1.73%	31.66%	14.51%	20.71%	33.06%	-34.39%	0.39%	-14.55%	-12.85%
PAVE Global X US Infrastructure Development ETF	19.88%	19.36%	17.92%	31.01%	-7.17%	36.42%	19.72%	33.26%	-19.15%	14.11%

Correlation

The correlation between ATMP and PAVE is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.51

Over the past year, the correlation between ATMP and PAVE has dropped to 0.08 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

ATMP vs. PAVE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ATMP

ATMP Risk / Return Rank: 39
ATMP Sharpe Ratio Rank: 36
ATMP Sortino Ratio Rank: 35
ATMP Omega Ratio Rank: 33
ATMP Calmar Ratio Rank: 51
ATMP Martin Ratio Rank: 38

PAVE

PAVE Risk / Return Rank: 59
PAVE Sharpe Ratio Rank: 57
PAVE Sortino Ratio Rank: 58
PAVE Omega Ratio Rank: 53
PAVE Calmar Ratio Rank: 62
PAVE Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATMP vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Barclays ETN+ Select MLP ETN (ATMP) and Global X US Infrastructure Development ETF (PAVE). 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.

	ATMP	PAVE	Difference
Sharpe ratio Return per unit of total volatility	1.31	1.99	-0.68
Sortino ratio Return per unit of downside risk	1.87	2.82	-0.95
Omega ratio Gain probability vs. loss probability	1.23	1.34	-0.11
Calmar ratio Return relative to maximum drawdown	2.51	3.13	-0.62
Martin ratio Return relative to average drawdown	6.16	11.50	-5.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATMP vs. PAVE - Sharpe Ratio Comparison

The current ATMP Sharpe Ratio is 1.31, which is lower than the PAVE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of ATMP and PAVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ATMP	PAVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	1.99	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.81	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.68	-0.59

Drawdowns

ATMP vs. PAVE - Drawdown Comparison

The maximum ATMP drawdown since its inception was -80.86%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for ATMP and PAVE.

Drawdown Indicators

	ATMP	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-80.86%	-44.08%	-36.78%
Max Drawdown (1Y) Largest decline over 1 year	-7.26%	-11.91%	+4.65%
Max Drawdown (3Y) Largest decline over 3 years	-16.48%	-26.23%	+9.75%
Max Drawdown (5Y) Largest decline over 5 years	-22.98%	-26.23%	+3.25%
Max Drawdown (10Y) Largest decline over 10 years	-75.66%	—	—
Current Drawdown Current decline from peak	-6.07%	-1.82%	-4.25%
Average Drawdown Average peak-to-trough decline	-31.15%	-6.24%	-24.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.24%	-0.29%

Volatility

ATMP vs. PAVE - Volatility Comparison

The current volatility for Barclays ETN+ Select MLP ETN (ATMP) is 5.61%, while Global X US Infrastructure Development ETF (PAVE) has a volatility of 6.42%. This indicates that ATMP experiences smaller price fluctuations and is considered to be less risky than PAVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATMP	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	6.42%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	10.72%	15.17%	-4.45%
Volatility (1Y) Calculated over the trailing 1-year period	14.00%	18.84%	-4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.23%	21.60%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.68%	24.38%	+3.30%

ATMP vs. PAVE - Expense Ratio Comparison

ATMP has a 0.95% expense ratio, which is higher than PAVE's 0.47% expense ratio.

Dividends

ATMP vs. PAVE - Dividend Comparison

ATMP has not paid dividends to shareholders, while PAVE's dividend yield for the trailing twelve months is around 0.77%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATMP Barclays ETN+ Select MLP ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAVE Global X US Infrastructure Development ETF	0.77%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%

Frequently Asked Questions

Can I hold both ATMP and PAVE in my portfolio?

ATMP and PAVE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATMP or PAVE?

PAVE has higher volatility (6.42%) compared to ATMP (5.61%). In terms of maximum drawdown, ATMP dropped -80.86% vs PAVE's -44.08%.

Which ETF is better, ATMP or PAVE?

On 5-year performance, PAVE leads with 17.39% vs 15.87% for ATMP. On fees, PAVE is cheaper at 0.47% per year. On volatility, ATMP has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ATMP or PAVE?

Over the 5-year period, PAVE has performed better with a 17.39% return vs 15.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ATMP or PAVE?

PAVE is cheaper with a 0.47% expense ratio, compared with 0.95% for ATMP.

Which ETF pays a higher dividend yield, ATMP or PAVE?

PAVE has the higher dividend yield at 0.77%, compared with 0.00% for ATMP.

What is the main difference between ATMP and PAVE?

ATMP is categorized as MLPs, while PAVE is Utilities Equities. ATMP tracks CIBC Atlas Select MLP VWAP, while PAVE tracks INDXX U.S. Infrastructure Development Index. They also come from different issuers: Barclays Capital and Global X. Their fees differ too: 0.95% for ATMP and 0.47% for PAVE.

Which has better risk-adjusted returns?

PAVE currently has the higher Sharpe Ratio (1.99 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.