IPAV vs. ORBX

Last updated Jun 4, 2026

IPAV (Global X Infrastructure Development ex-U.S. ETF) and ORBX (Global X Space Tech ETF) are both exchange-traded funds - IPAV is a Industrials Equities fund tracking the Global X Infrastructure Development ex-U.S. Index, while ORBX is a Aerospace & Defense fund tracking the Global X Space Tech Index. Both are passively managed. At a 0.41 correlation, their price movements are largely independent. IPAV charges 0.55%/yr vs 0.50%/yr for ORBX.

Performance

IPAV vs. ORBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Infrastructure Development ex-U.S. ETF (IPAV) and Global X Space Tech ETF (ORBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IPAV

• 1D: -0.76%
• 1M: -0.53%
• YTD: 13.76%
• 6M: 16.75%
• 1Y: 29.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORBX

• 1D: -7.31%
• 1M: 23.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IPAV vs. ORBX - Yearly Performance Comparison

	2026 (YTD)
IPAV Global X Infrastructure Development ex-U.S. ETF	1.45%
ORBX Global X Space Tech ETF	22.02%

Correlation

The correlation between IPAV and ORBX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 16, 2026	0.41

Return for Risk

IPAV vs. ORBX — Risk / Return Rank

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

IPAV

IPAV Risk / Return Rank: 48
IPAV Sharpe Ratio Rank: 51
IPAV Sortino Ratio Rank: 52
IPAV Omega Ratio Rank: 50
IPAV Calmar Ratio Rank: 41
IPAV Martin Ratio Rank: 46

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.

IPAV vs. ORBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Infrastructure Development ex-U.S. ETF (IPAV) and Global X Space Tech ETF (ORBX). 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.

	IPAV	ORBX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	—	—
Sortino ratio: Return per unit of downside risk	2.49	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.00	—	—
Martin ratio: Return relative to average drawdown	7.38	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IPAV	ORBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	4.31	-3.18

Drawdowns

IPAV vs. ORBX - Drawdown Comparison

The maximum IPAV drawdown since its inception was -14.59%, smaller than the maximum ORBX drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for IPAV and ORBX.

Drawdown Indicators

	IPAV	ORBX	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-18.53%	+3.94%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	—	—
Current Drawdown Current decline from peak	-5.07%	-18.53%	+13.46%
Average Drawdown Average peak-to-trough decline	-3.53%	-5.01%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	—	—

Volatility

Volatility by Period

	IPAV	ORBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.08%	79.41%	-62.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	79.41%	-61.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	79.41%	-61.72%

IPAV vs. ORBX - Expense Ratio Comparison

IPAV has a 0.55% expense ratio, which is higher than ORBX's 0.50% expense ratio.

Dividends

IPAV vs. ORBX - Dividend Comparison

IPAV's dividend yield for the trailing twelve months is around 1.13%, while ORBX has not paid dividends to shareholders.

Position	TTM	2025	2024
IPAV Global X Infrastructure Development ex-U.S. ETF	1.13%	1.29%	0.31%
ORBX Global X Space Tech ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IPAV and ORBX in my portfolio?

IPAV and ORBX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IPAV or ORBX?

On fees, ORBX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPAV or ORBX?

ORBX is cheaper with a 0.50% expense ratio, compared with 0.55% for IPAV.

Which ETF pays a higher dividend yield, IPAV or ORBX?

IPAV has the higher dividend yield at 1.13%, compared with 0.00% for ORBX.

What is the main difference between IPAV and ORBX?

IPAV is categorized as Industrials Equities, while ORBX is Aerospace & Defense. IPAV tracks Global X Infrastructure Development ex-U.S. Index, while ORBX tracks Global X Space Tech Index. Their fees differ too: 0.55% for IPAV and 0.50% for ORBX.