IGF vs. HVAC

Last updated Jun 24, 2026

IGF (iShares Global Infrastructure ETF) and HVAC (AdvisorShares HVAC and Industrials ETF) are both Industrials Equities funds. IGF is passively managed, while HVAC is actively managed. Over the past year, IGF returned 17.62% vs 53.59% for HVAC. A 0.51 correlation means they provide meaningful diversification when combined. IGF charges 0.39%/yr vs 1.00%/yr for HVAC.

Performance

IGF vs. HVAC - Performance Comparison

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

Returns By Period

In the year-to-date period, IGF achieves a 9.67% return, which is significantly lower than HVAC's 33.33% return.

IGF

• 1D: -0.03%
• 1M: -0.16%
• YTD: 9.67%
• 6M: 8.98%
• 1Y: 17.62%
• 3Y*: 16.78%
• 5Y*: 10.70%
• 10Y*: 8.79%

HVAC

• 1D: -4.46%
• 1M: 4.16%
• YTD: 33.33%
• 6M: 29.69%
• 1Y: 53.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGF vs. HVAC - Yearly Performance Comparison

	2026 (YTD)	2025
IGF iShares Global Infrastructure ETF	9.67%	18.89%
HVAC AdvisorShares HVAC and Industrials ETF	33.33%	23.15%

Correlation

The correlation between IGF and HVAC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.51

The correlation between IGF and HVAC has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.

IGF vs. HVAC - Sectors Allocation Comparison

Sectors	IGF	HVAC
Industrials	40.6%	69.4%
Utilities	39.7%	3.0%
Energy	19.6%	-
Real Estate	0.1%	2.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	4.6%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Technology	-	20.2%

Return for Risk

IGF vs. HVAC — Risk / Return Rank

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

IGF

IGF Risk / Return Rank: 53
IGF Sharpe Ratio Rank: 51
IGF Sortino Ratio Rank: 51
IGF Omega Ratio Rank: 49
IGF Calmar Ratio Rank: 64
IGF Martin Ratio Rank: 51

HVAC

HVAC Risk / Return Rank: 62
HVAC Sharpe Ratio Rank: 60
HVAC Sortino Ratio Rank: 52
HVAC Omega Ratio Rank: 53
HVAC Calmar Ratio Rank: 76
HVAC Martin Ratio Rank: 72

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.

IGF vs. HVAC - Risk-Adjusted Trends Comparison

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

	IGF	HVAC	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.84	-0.16
Sortino ratio: Return per unit of downside risk	2.39	2.35	+0.04
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	3.02	3.63	-0.61
Martin ratio: Return relative to average drawdown	8.52	12.28	-3.76

IGF vs. HVAC - Sharpe Ratio Comparison

The current IGF Sharpe Ratio is 1.68, which is comparable to the HVAC Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of IGF and HVAC, 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

IGF vs. HVAC - Drawdown Comparison

The maximum IGF drawdown since its inception was -58.33%, which is greater than HVAC's maximum drawdown of -21.22%. Use the drawdown chart below to compare losses from any high point for IGF and HVAC.

Drawdown Indicators

	IGF	HVAC	Difference
Max Drawdown Largest peak-to-trough decline	-58.33%	-21.22%	-37.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.87%	-14.83%	+8.96%
Max Drawdown (3Y) Largest decline over 3 years	-14.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.83%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.11%	—	—
Current Drawdown Current decline from peak	-2.99%	-4.46%	+1.47%
Average Drawdown Average peak-to-trough decline	-11.84%	-3.98%	-7.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	4.38%	-2.31%

Volatility

IGF vs. HVAC - Volatility Comparison

The current volatility for iShares Global Infrastructure ETF (IGF) is 3.35%, while AdvisorShares HVAC and Industrials ETF (HVAC) has a volatility of 12.39%. This indicates that IGF experiences smaller price fluctuations and is considered to be less risky than HVAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGF	HVAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	12.39%	-9.04%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	24.48%	-15.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	29.30%	-18.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.96%	30.27%	-16.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	30.27%	-13.54%

IGF vs. HVAC - Expense Ratio Comparison

IGF has a 0.39% expense ratio, which is lower than HVAC's 1.00% expense ratio.

Dividends

IGF vs. HVAC - Dividend Comparison

IGF's dividend yield for the trailing twelve months is around 2.91%, more than HVAC's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HVAC AdvisorShares HVAC and Industrials ETF	0.15%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IGF iShares Global Infrastructure ETF	2.91%	3.23%	3.21%	3.36%	2.67%	2.42%	2.33%	3.27%	3.52%	2.95%	2.98%	3.25%

Frequently Asked Questions

Can I hold both IGF and HVAC in my portfolio?

IGF and HVAC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGF or HVAC?

HVAC has higher volatility (12.39%) compared to IGF (3.35%). In terms of maximum drawdown, IGF dropped -58.33% vs HVAC's -21.22%.

Which ETF is better, IGF or HVAC?

On 1-year performance, HVAC leads with 53.59% vs 17.62% for IGF. On fees, IGF is cheaper at 0.39% per year. On volatility, IGF has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGF or HVAC?

Over the 1-year period, HVAC has performed better with a 53.59% return vs 17.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGF or HVAC?

IGF is cheaper with a 0.39% expense ratio, compared with 1.00% for HVAC.

Which ETF pays a higher dividend yield, IGF or HVAC?

IGF has the higher dividend yield at 2.91%, compared with 0.15% for HVAC.

What is the main difference between IGF and HVAC?

They also come from different issuers: iShares and AdvisorShares. Their fees differ too: 0.39% for IGF and 1.00% for HVAC.

Which has better risk-adjusted returns?

HVAC currently has the higher Sharpe Ratio (1.84 vs 1.68), 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.