CATH vs. PAVE

Last updated Jun 4, 2026

CATH (Global X S&P 500 Catholic Values ETF) and PAVE (Global X US Infrastructure Development ETF) are both exchange-traded funds - CATH is a S&P 500 fund tracking the S&P 500 Catholic Values Index, while PAVE is a Utilities Equities fund tracking the INDXX U.S. Infrastructure Development Index. Both are passively managed. Over the past 5 years, CATH returned 12.53%/yr vs 17.39%/yr for PAVE. A 0.77 correlation means they provide meaningful diversification when combined. CATH charges 0.29%/yr vs 0.47%/yr for PAVE.

Performance

CATH vs. PAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Catholic Values ETF (CATH) and Global X US Infrastructure Development ETF (PAVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CATH achieves a 9.37% return, which is significantly lower than PAVE's 19.88% return.

CATH

• 1D: -0.70%
• 1M: 4.21%
• YTD: 9.37%
• 6M: 9.22%
• 1Y: 24.47%
• 3Y*: 20.86%
• 5Y*: 12.53%
• 10Y*: 14.82%

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)

CATH vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CATH Global X S&P 500 Catholic Values ETF	9.37%	17.08%	23.34%	26.15%	-19.96%	28.87%	18.80%	30.64%	-5.80%	16.00%
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 CATH and PAVE is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.77

The correlation between CATH and PAVE shifts across timeframes, from 0.67 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

CATH vs. PAVE - Sectors Allocation Comparison

Sectors	CATH	PAVE
Technology	38.1%	1.1%
Financial Services	11.4%	-
Communication Services	10.7%	-
Consumer Cyclical	9.9%	-
Healthcare	7.9%	-
Industrials	7.6%	74.8%
Consumer Defensive	4.6%	0.3%
Energy	3.3%	0.2%
Utilities	2.8%	3.2%
Real Estate	1.9%	-
Basic Materials	1.7%	20.3%

Return for Risk

CATH vs. PAVE — Risk / Return Rank

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

CATH

CATH Risk / Return Rank: 58
CATH Sharpe Ratio Rank: 59
CATH Sortino Ratio Rank: 57
CATH Omega Ratio Rank: 59
CATH Calmar Ratio Rank: 52
CATH Martin Ratio Rank: 64

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.

CATH vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Catholic Values ETF (CATH) 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.

	CATH	PAVE	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.99	+0.04
Sortino ratio: Return per unit of downside risk	2.78	2.82	-0.04
Omega ratio: Gain probability vs. loss probability	1.36	1.34	+0.03
Calmar ratio: Return relative to maximum drawdown	2.61	3.13	-0.52
Martin ratio: Return relative to average drawdown	11.67	11.50	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CATH vs. PAVE - Sharpe Ratio Comparison

The current CATH Sharpe Ratio is 2.03, which is comparable to the PAVE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of CATH 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

	CATH	PAVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	1.99	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.81	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.68	+0.11

Drawdowns

CATH vs. PAVE - Drawdown Comparison

The maximum CATH drawdown since its inception was -33.95%, smaller than the maximum PAVE drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for CATH and PAVE.

Drawdown Indicators

	CATH	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-33.95%	-44.08%	+10.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-11.91%	+2.49%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-26.23%	+6.89%
Max Drawdown (5Y) Largest decline over 5 years	-28.14%	-26.23%	-1.91%
Max Drawdown (10Y) Largest decline over 10 years	-33.95%	—	—
Current Drawdown Current decline from peak	-0.70%	-1.82%	+1.12%
Average Drawdown Average peak-to-trough decline	-5.20%	-6.24%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	3.24%	-1.14%

Volatility

CATH vs. PAVE - Volatility Comparison

The current volatility for Global X S&P 500 Catholic Values ETF (CATH) is 2.69%, while Global X US Infrastructure Development ETF (PAVE) has a volatility of 6.42%. This indicates that CATH 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

	CATH	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	6.42%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	15.17%	-6.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	18.84%	-6.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	21.60%	-3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	24.38%	-5.77%

CATH vs. PAVE - Expense Ratio Comparison

CATH has a 0.29% expense ratio, which is lower than PAVE's 0.47% expense ratio.

Dividends

CATH vs. PAVE - Dividend Comparison

CATH's dividend yield for the trailing twelve months is around 0.77%, which matches PAVE's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CATH Global X S&P 500 Catholic Values ETF	0.77%	0.84%	0.95%	1.16%	1.34%	1.03%	1.23%	0.68%	2.01%	1.27%	0.50%
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%	0.00%

Frequently Asked Questions

Can I hold both CATH and PAVE in my portfolio?

CATH and PAVE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CATH or PAVE?

PAVE has higher volatility (6.42%) compared to CATH (2.69%). In terms of maximum drawdown, CATH dropped -33.95% vs PAVE's -44.08%.

Which ETF is better, CATH or PAVE?

On 5-year performance, PAVE leads with 17.39% vs 12.53% for CATH. On fees, CATH is cheaper at 0.29% per year. On volatility, CATH has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CATH or PAVE?

Over the 5-year period, PAVE has performed better with a 17.39% return vs 12.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CATH or PAVE?

CATH is cheaper with a 0.29% expense ratio, compared with 0.47% for PAVE.

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

CATH and PAVE have nearly identical dividend yields, around 0.77%.

What is the main difference between CATH and PAVE?

CATH is categorized as S&P 500, while PAVE is Utilities Equities. CATH tracks S&P 500 Catholic Values Index, while PAVE tracks INDXX U.S. Infrastructure Development Index. Their fees differ too: 0.29% for CATH and 0.47% for PAVE.

Which has better risk-adjusted returns?

CATH currently has the higher Sharpe Ratio (2.03 vs 1.99), 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.