BUGG.L vs. PAVG.L

Last updated Jul 16, 2026

BUGG.L (Global X Cybersecurity UCITS ETF USD Accumulating) and PAVG.L (Global X U.S. Infrastructure Development UCITS ETF USD Dis) are both exchange-traded funds - BUGG.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while PAVG.L is a Global Equities fund tracking the Global X U.S. Infrastructure Development UCITS ETF USD Dis. Both are passively managed. Over the past 3 years, BUGG.L returned 19.10%/yr vs 20.28%/yr for PAVG.L. At a 0.40 correlation, their price movements are largely independent. BUGG.L charges 0.50%/yr vs 0.47%/yr for PAVG.L.

Performance

BUGG.L vs. PAVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) and Global X U.S. Infrastructure Development UCITS ETF USD Dis (PAVG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUGG.L achieves a 36.55% return, which is significantly higher than PAVG.L's 15.20% return.

BUGG.L

• 1D: 0.00%
• 1M: 21.10%
• 6M: 38.36%
• YTD: 36.55%
• 1Y: 18.71%
• 3Y*: 19.10%
• 5Y*: —
• 10Y*: —

PAVG.L

• 1D: -1.72%
• 1M: -3.88%
• 6M: 10.56%
• YTD: 15.20%
• 1Y: 24.73%
• 3Y*: 20.28%
• 5Y*: —
• 10Y*: —

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

BUGG.L vs. PAVG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BUGG.L Global X Cybersecurity UCITS ETF USD Accumulating	36.55%	-11.39%	11.20%	36.05%	-27.09%	-30.50%
PAVG.L Global X U.S. Infrastructure Development UCITS ETF USD Dis	15.20%	12.40%	19.47%	24.53%	4.64%	-0.62%

Correlation

The correlation between BUGG.L and PAVG.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.40

Over the past year, the correlation between BUGG.L and PAVG.L has dropped to 0.11 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

BUGG.L vs. PAVG.L — Risk / Return Rank

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

BUGG.L

BUGG.L Risk / Return Rank: 19
BUGG.L Sharpe Ratio Rank: 21
BUGG.L Sortino Ratio Rank: 21
BUGG.L Omega Ratio Rank: 23
BUGG.L Calmar Ratio Rank: 17
BUGG.L Martin Ratio Rank: 15

PAVG.L

PAVG.L Risk / Return Rank: 59
PAVG.L Sharpe Ratio Rank: 58
PAVG.L Sortino Ratio Rank: 59
PAVG.L Omega Ratio Rank: 50
PAVG.L Calmar Ratio Rank: 67
PAVG.L Martin Ratio Rank: 62

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.

BUGG.L vs. PAVG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) and Global X U.S. Infrastructure Development UCITS ETF USD Dis (PAVG.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.

	BUGG.L	PAVG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.58	-0.99
Sortino ratio: Return per unit of downside risk	1.01	2.27	-1.26
Omega ratio: Gain probability vs. loss probability	1.14	1.26	-0.13
Calmar ratio: Return relative to maximum drawdown	0.52	2.71	-2.18
Martin ratio: Return relative to average drawdown	1.12	8.77	-7.65

BUGG.L vs. PAVG.L - Sharpe Ratio Comparison

The current BUGG.L Sharpe Ratio is 0.59, which is lower than the PAVG.L Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of BUGG.L and PAVG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BUGG.L vs. PAVG.L - Drawdown Comparison

The maximum BUGG.L drawdown since its inception was -50.67%, which is greater than PAVG.L's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for BUGG.L and PAVG.L.

Drawdown Indicators

	BUGG.L	PAVG.L	Difference
Max Drawdown Largest peak-to-trough decline	-50.67%	-34.28%	-16.39%
Max Drawdown (1Y) Largest decline over 1 year	-35.79%	-10.14%	-25.65%
Max Drawdown (3Y) Largest decline over 3 years	-40.14%	-28.81%	-11.33%
Current Drawdown Current decline from peak	-7.25%	-7.75%	+0.50%
Average Drawdown Average peak-to-trough decline	-33.23%	-11.99%	-21.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.76%	3.14%	+13.62%

Volatility

BUGG.L vs. PAVG.L - Volatility Comparison

Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) has a higher volatility of 10.39% compared to Global X U.S. Infrastructure Development UCITS ETF USD Dis (PAVG.L) at 5.79%. This indicates that BUGG.L's price experiences larger fluctuations and is considered to be riskier than PAVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUGG.L	PAVG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.39%	5.79%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	28.47%	13.85%	+14.62%
Volatility (1Y) Calculated over the trailing 1-year period	31.83%	17.53%	+14.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.84%	23.21%	+6.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.84%	23.21%	+6.63%

BUGG.L vs. PAVG.L - Expense Ratio Comparison

BUGG.L has a 0.50% expense ratio, which is higher than PAVG.L's 0.47% expense ratio.

Dividends

BUGG.L vs. PAVG.L - Dividend Comparison

BUGG.L has not paid dividends to shareholders, while PAVG.L's dividend yield for the trailing twelve months is around 0.39%.

Position	TTM	2025	2024	2023	2022
BUGG.L Global X Cybersecurity UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%
PAVG.L Global X U.S. Infrastructure Development UCITS ETF USD Dis	0.39%	0.43%	0.41%	0.31%	0.58%

Frequently Asked Questions

Can I hold both BUGG.L and PAVG.L in my portfolio?

BUGG.L and PAVG.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BUGG.L or PAVG.L?

On fees, PAVG.L is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BUGG.L or PAVG.L?

PAVG.L is cheaper with a 0.47% expense ratio, compared with 0.50% for BUGG.L.

What is the main difference between BUGG.L and PAVG.L?

BUGG.L is categorized as Technology Equities, while PAVG.L is Global Equities. BUGG.L tracks MSCI World/Information Tech NR USD, while PAVG.L tracks Global X U.S. Infrastructure Development UCITS ETF USD Dis. Their fees differ too: 0.50% for BUGG.L and 0.47% for PAVG.L.