BRIP.L vs. PAVE.L
BRIP.L (Global X European Infrastructure Development UCITS ETF EUR Accumulating) and PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) are both Industrials Equities funds from Global X - BRIP.L tracks the Mirae Asset European Infrastructure Development Index while PAVE.L tracks the Indxx U.S. Infrastructure Development v2 Index. Both are passively managed. Over the past year, BRIP.L returned 16.20% vs 45.84% for PAVE.L. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.47% expense ratio.
Performance
BRIP.L vs. PAVE.L - Performance Comparison
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Different Trading Currencies
BRIP.L is traded in GBP, while PAVE.L is traded in USD. To make them comparable, the PAVE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BRIP.L achieves a 8.17% return, which is significantly lower than PAVE.L's 26.03% return.
BRIP.L
- 1D
- 0.00%
- 1M
- -0.14%
- YTD
- 8.17%
- 6M
- 8.42%
- 1Y
- 16.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAVE.L
- 1D
- 1.29%
- 1M
- 8.98%
- YTD
- 26.03%
- 6M
- 25.18%
- 1Y
- 45.84%
- 3Y*
- 24.64%
- 5Y*
- —
- 10Y*
- —
BRIP.L vs. PAVE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRIP.L Global X European Infrastructure Development UCITS ETF EUR Accumulating | 8.17% | 33.47% | -3.67% |
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating | 26.03% | 11.27% | 15.61% |
Correlation
The correlation between BRIP.L and PAVE.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024 | 0.43 |
The correlation between BRIP.L and PAVE.L has been stable across timeframes, ranging from 0.43 to 0.50 - a consistent structural relationship.
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Return for Risk
BRIP.L vs. PAVE.L — Risk / Return Rank
BRIP.L
PAVE.L
BRIP.L vs. PAVE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X European Infrastructure Development UCITS ETF EUR Accumulating (BRIP.L) and Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L). 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.
| BRIP.L | PAVE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.42 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 4.56 | -2.99 |
| Martin ratioReturn relative to average drawdown | 4.34 | 16.30 | -11.96 |
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Drawdowns
BRIP.L vs. PAVE.L - Drawdown Comparison
The maximum BRIP.L drawdown since its inception was -10.38%, smaller than the maximum PAVE.L drawdown of -28.27%. Use the drawdown chart below to compare losses from any high point for BRIP.L and PAVE.L.
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Drawdown Indicators
| BRIP.L | PAVE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.38% | -28.27% | +17.89% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -10.00% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -28.27% | — |
Current DrawdownCurrent decline from peak | -4.41% | 0.00% | -4.41% |
Average DrawdownAverage peak-to-trough decline | -2.60% | -5.43% | +2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 2.81% | +0.93% |
Volatility
BRIP.L vs. PAVE.L - Volatility Comparison
The current volatility for Global X European Infrastructure Development UCITS ETF EUR Accumulating (BRIP.L) is 3.93%, while Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) has a volatility of 5.50%. This indicates that BRIP.L experiences smaller price fluctuations and is considered to be less risky than PAVE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRIP.L | PAVE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 5.50% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 12.49% | 14.44% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.85% | 18.06% | -3.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 20.86% | -5.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 20.86% | -5.87% |
BRIP.L vs. PAVE.L - Expense Ratio Comparison
Both BRIP.L and PAVE.L have an expense ratio of 0.47%.
Dividends
BRIP.L vs. PAVE.L - Dividend Comparison
Neither BRIP.L nor PAVE.L has paid dividends to shareholders.
Frequently Asked Questions
BRIP.L and PAVE.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.47% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BRIP.L and PAVE.L have the same expense ratio: 0.47% per year.
BRIP.L tracks Mirae Asset European Infrastructure Development Index, while PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index.
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