PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HVAC vs. EXI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HVAC vs. EXI

Last updated Jun 4, 2026

HVAC (AdvisorShares HVAC and Industrials ETF) and EXI (iShares Global Industrials ETF) are both Industrials Equities funds. HVAC is actively managed, while EXI is passively managed. Over the past year, HVAC returned 59.65% vs 22.09% for EXI. Their correlation of 0.81 suggests significant overlap in exposure. HVAC charges 1.00%/yr vs 0.43%/yr for EXI.

Performance

HVAC vs. EXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares HVAC and Industrials ETF (HVAC) and iShares Global Industrials ETF (EXI). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HVAC achieves a 36.48% return, which is significantly higher than EXI's 10.88% return.

HVAC

1D
1.91%
1M
6.24%
YTD
36.48%
6M
32.88%
1Y
59.65%
3Y*
—
5Y*
—
10Y*
—

EXI

1D
-0.21%
1M
1.21%
YTD
10.88%
6M
13.08%
1Y
22.09%
3Y*
20.74%
5Y*
11.17%
10Y*
12.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HVAC vs. EXI - Yearly Performance Comparison

2026 (YTD)2025
HVAC
AdvisorShares HVAC and Industrials ETF		36.48%24.04%
EXI
iShares Global Industrials ETF		10.88%21.36%

Correlation

The correlation between HVAC and EXI is 0.80, 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

0.80

Correlation (All Time)
Calculated using the full available price history since Feb 5, 2025

0.81

The correlation between HVAC and EXI has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

HVAC vs. EXI - Sectors Allocation Comparison

Sectors
HVAC
EXI

Industrials

67.0%
92.8%

Technology

16.9%
2.7%

Utilities

7.4%
2.9%

Consumer Cyclical

4.5%
0.6%

Real Estate

2.8%

-

Basic Materials

-

0.2%

Communication Services

-

0.6%

Consumer Defensive

-

0.1%

Energy

-

-

Financial Services

-

0.1%

Healthcare

-

-

Industrials

HVAC
67.0%
EXI
92.8%

Technology

HVAC
16.9%
EXI
2.7%

Utilities

HVAC
7.4%
EXI
2.9%

Consumer Cyclical

HVAC
4.5%
EXI
0.6%

Real Estate

HVAC
2.8%
EXI

-

Basic Materials

HVAC

-

EXI
0.2%

Communication Services

HVAC

-

EXI
0.6%

Consumer Defensive

HVAC

-

EXI
0.1%

Energy

HVAC

-

EXI

-

Financial Services

HVAC

-

EXI
0.1%

Healthcare

HVAC

-

EXI

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

AdvisorShares HVAC and Industrials ETF

iShares Global Industrials ETF

Often compared with HVAC:
HVAC vs. FOWFHVAC vs. IVEPHVAC vs. RIFRHVAC vs. GDEHVAC vs. FIDUHVAC vs. PPAHVAC vs. MISL
Often compared with EXI:
EXI vs. XLIEXI vs. FIDUEXI vs. IYJEXI vs. PSCCEXI vs. KXIEXI vs. SPYEXI vs. IEFA

Return for Risk

HVAC vs. EXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HVAC
HVAC Risk / Return Rank: 6868
Overall Rank
HVAC Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
HVAC Sortino Ratio Rank: 5959
Sortino Ratio Rank
HVAC Omega Ratio Rank: 6060
Omega Ratio Rank
HVAC Calmar Ratio Rank: 7979
Calmar Ratio Rank
HVAC Martin Ratio Rank: 7575
Martin Ratio Rank
EXI
EXI Risk / Return Rank: 4040
Overall Rank
EXI Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
EXI Sortino Ratio Rank: 4040
Sortino Ratio Rank
EXI Omega Ratio Rank: 3939
Omega Ratio Rank
EXI Calmar Ratio Rank: 3636
Calmar Ratio Rank
EXI Martin Ratio Rank: 4444
Martin Ratio Rank
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.

HVAC vs. EXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares HVAC and Industrials ETF (HVAC) and iShares Global Industrials ETF (EXI). 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.

HVACEXIDifference
Sharpe ratioReturn per unit of total volatility
2.19
1.39

+0.80

Sortino ratioReturn per unit of downside risk
2.75
2.09

+0.66

Omega ratioGain probability vs. loss probability

1.36

1.26

+0.11

Calmar ratioReturn relative to maximum drawdown

4.04

1.80

+2.25

Martin ratioReturn relative to average drawdown

14.29

7.30

+6.99

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HVAC vs. EXI - Sharpe Ratio Comparison

The current HVAC Sharpe Ratio is 2.19, which is higher than the EXI Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of HVAC and EXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

HVACEXIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.19

1.39

+0.80

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.66

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.68

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.67

0.42

+1.25

Drawdowns

HVAC vs. EXI - Drawdown Comparison

The maximum HVAC drawdown since its inception was -21.22%, smaller than the maximum EXI drawdown of -62.60%. Use the drawdown chart below to compare losses from any high point for HVAC and EXI.

Loading charts...

Drawdown Indicators

HVACEXIDifference

Max Drawdown

Largest peak-to-trough decline

-21.22%

-62.60%

+41.38%

Max Drawdown (1Y)

Largest decline over 1 year

-14.83%

-12.35%

-2.48%

Max Drawdown (3Y)

Largest decline over 3 years

—

-14.38%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-27.23%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.56%

—

Current Drawdown

Current decline from peak

-0.60%

-3.16%

+2.56%

Average Drawdown

Average peak-to-trough decline

-3.95%

-9.97%

+6.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.19%

3.03%

+1.16%

Volatility

HVAC vs. EXI - Volatility Comparison

AdvisorShares HVAC and Industrials ETF (HVAC) has a higher volatility of 11.09% compared to iShares Global Industrials ETF (EXI) at 5.33%. This indicates that HVAC's price experiences larger fluctuations and is considered to be riskier than EXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HVACEXIDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.09%

5.33%

+5.76%

Volatility (6M)

Calculated over the trailing 6-month period

22.96%

13.42%

+9.54%

Volatility (1Y)

Calculated over the trailing 1-year period

27.43%

15.92%

+11.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.39%

16.99%

+12.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.39%

18.41%

+10.98%

HVAC vs. EXI - Expense Ratio Comparison

HVAC has a 1.00% expense ratio, which is higher than EXI's 0.43% expense ratio.

Dividends

HVAC vs. EXI - Dividend Comparison

HVAC's dividend yield for the trailing twelve months is around 0.14%, less than EXI's 1.19% yield.

PositionTTM20252024202320222021202020192018201720162015
EXI
iShares Global Industrials ETF		1.19%1.32%1.47%1.84%1.63%1.42%1.26%1.72%2.21%1.48%1.75%1.95%
HVAC
AdvisorShares HVAC and Industrials ETF		0.14%0.19%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

HVAC and EXI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HVAC has higher volatility (11.09%) compared to EXI (5.33%). In terms of maximum drawdown, HVAC dropped -21.22% vs EXI's -62.60%.

On 1-year performance, HVAC leads with 59.65% vs 22.09% for EXI. On fees, EXI is cheaper at 0.43% per year. On volatility, EXI has been the lower-risk option at 5.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, HVAC has performed better with a 59.65% return vs 22.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EXI is cheaper with a 0.43% expense ratio, compared with 1.00% for HVAC.

EXI has the higher dividend yield at 1.19%, compared with 0.14% for HVAC.

They also come from different issuers: AdvisorShares and iShares. Their fees differ too: 1.00% for HVAC and 0.43% for EXI.

HVAC currently has the higher Sharpe Ratio (2.19 vs 1.39), 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.

Portfolio Optimizer

Find the right allocation for HVAC and EXI

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer