ATMP vs. PAVE
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 Infrastructure Equities fund tracking the INDXX U.S. Infrastructure Development Index. Both are passively managed. Over the past 5 years, ATMP returned 18.49%/yr vs 17.15%/yr for PAVE. Their 0.50 correlation means they have sometimes moved together and sometimes differently. ATMP charges 0.95%/yr vs 0.47%/yr for PAVE.
Performance
ATMP vs. PAVE - Performance Comparison
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Returns By Period
In the year-to-date period, ATMP achieves a 26.22% return, which is significantly higher than PAVE's 18.14% return.
ATMP
- 1D
- 0.87%
- 1M
- 5.19%
- 6M
- 17.51%
- YTD
- 26.22%
- 1Y
- 23.85%
- 3Y*
- 20.30%
- 5Y*
- 18.49%
- 10Y*
- 5.16%
- ALL TIME*
- 2.84%
PAVE
- 1D
- 0.46%
- 1M
- -1.38%
- 6M
- 11.25%
- YTD
- 18.14%
- 1Y
- 26.28%
- 3Y*
- 20.94%
- 5Y*
- 17.15%
- 10Y*
- —
- ALL TIME*
- 16.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $521.25K | $462.49K | $511.48K | |
| $109.69M | $125.02M | $111.27M |
ATMP vs. PAVE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ATMP Barclays ETN+ Select MLP ETN | 26.22% | 1.73% | 31.66% | 14.51% | 20.71% | 33.06% | -34.39% | 0.39% | -14.55% | -14.39% |
PAVE Global X US Infrastructure Development ETF | 18.14% | 19.36% | 17.92% | 31.01% | -7.17% | 36.42% | 19.72% | 33.26% | -19.15% | 13.41% |
Correlation
The correlation between ATMP and PAVE is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2017 | 0.50 |
Over the past year, the correlation between ATMP and PAVE has dropped to 0.05 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
ATMP vs. PAVE — Risk / Return Rank
ATMP
PAVE
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ATMP | PAVE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 2.06 | +0.76 |
| Martin ratioReturn relative to average drawdown | 6.57 | 6.77 | -0.19 |
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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.
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Drawdown Indicators
| ATMP | PAVE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.86% | -44.08% | -36.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -11.91% | +3.61% |
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 DrawdownCurrent decline from peak | -1.27% | -5.89% | +4.62% |
Average DrawdownAverage peak-to-trough decline | -30.81% | -6.19% | -24.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 3.62% | -0.08% |
Volatility
ATMP vs. PAVE - Volatility Comparison
The current volatility for Barclays ETN+ Select MLP ETN (ATMP) is 5.01%, while Global X US Infrastructure Development ETF (PAVE) has a volatility of 6.09%. 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.
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Volatility by Period
| ATMP | PAVE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 6.09% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 16.61% | -4.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 20.42% | -5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.94% | 21.71% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.62% | 24.37% | +3.25% |
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 0.76%.
| 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 | 0.76% | 0.92% | 0.54% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% |
Frequently Asked Questions
ATMP and PAVE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAVE has higher volatility (6.09%) compared to ATMP (5.01%). In terms of maximum drawdown, ATMP dropped -80.86% vs PAVE's -44.08%.
On 5-year performance, ATMP leads with 18.49% vs 17.15% for PAVE. On fees, PAVE is cheaper at 0.47% per year. On volatility, ATMP has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ATMP has performed better with a 18.49% return vs 17.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PAVE is cheaper with a 0.47% expense ratio, compared with 0.95% for ATMP.
PAVE has the higher dividend yield at 0.76%, compared with 0.00% for ATMP.
ATMP is categorized as MLPs, while PAVE is Infrastructure 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.
ATMP currently has the higher Sharpe Ratio (1.60 vs 1.20), 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.
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