IPAV vs. ROKT

Last updated Jun 4, 2026

IPAV (Global X Infrastructure Development ex-U.S. ETF) and ROKT (SPDR S&P Kensho Final Frontiers ETF) are both Industrials Equities funds - IPAV tracks the Global X Infrastructure Development ex-U.S. Index while ROKT tracks the S&P Kensho Final Frontiers Index. Both are passively managed. Over the past year, IPAV returned 29.12% vs 111.37% for ROKT. At a 0.49 correlation, their price movements are largely independent. IPAV charges 0.55%/yr vs 0.45%/yr for ROKT.

Performance

IPAV vs. ROKT - 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 SPDR S&P Kensho Final Frontiers ETF (ROKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAV achieves a 13.76% return, which is significantly lower than ROKT's 46.55% return.

IPAV

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

ROKT

• 1D: -3.71%
• 1M: 12.62%
• YTD: 46.55%
• 6M: 60.20%
• 1Y: 111.37%
• 3Y*: 44.75%
• 5Y*: 24.68%
• 10Y*: —

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

IPAV vs. ROKT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPAV Global X Infrastructure Development ex-U.S. ETF	13.76%	29.77%	-6.87%
ROKT SPDR S&P Kensho Final Frontiers ETF	46.55%	50.56%	17.32%

Correlation

The correlation between IPAV and ROKT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024	0.49

IPAV vs. ROKT - Sectors Allocation Comparison

Sectors	IPAV	ROKT
Industrials	47.4%	67.6%
Basic Materials	45.5%	-
Real Estate	3.3%	-
Communication Services	2.6%	5.9%
Energy	1.2%	6.4%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Technology	-	20.2%
Utilities	-	-

Return for Risk

IPAV vs. ROKT — 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

ROKT

ROKT Risk / Return Rank: 93
ROKT Sharpe Ratio Rank: 95
ROKT Sortino Ratio Rank: 92
ROKT Omega Ratio Rank: 89
ROKT Calmar Ratio Rank: 96
ROKT Martin Ratio Rank: 96

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. ROKT - 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 SPDR S&P Kensho Final Frontiers ETF (ROKT). 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	ROKT	Difference
Sharpe ratio: Return per unit of total volatility	1.71	3.88	-2.17
Sortino ratio: Return per unit of downside risk	2.49	4.47	-1.99
Omega ratio: Gain probability vs. loss probability	1.31	1.57	-0.26
Calmar ratio: Return relative to maximum drawdown	2.00	9.82	-7.82
Martin ratio: Return relative to average drawdown	7.38	35.81	-28.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPAV vs. ROKT - Sharpe Ratio Comparison

The current IPAV Sharpe Ratio is 1.71, which is lower than the ROKT Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of IPAV and ROKT, 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

	IPAV	ROKT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	3.88	-2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.86	+0.27

Drawdowns

IPAV vs. ROKT - Drawdown Comparison

The maximum IPAV drawdown since its inception was -14.59%, smaller than the maximum ROKT drawdown of -43.16%. Use the drawdown chart below to compare losses from any high point for IPAV and ROKT.

Drawdown Indicators

	IPAV	ROKT	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-43.16%	+28.57%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-11.40%	-3.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.46%	—
Current Drawdown Current decline from peak	-5.07%	-8.82%	+3.75%
Average Drawdown Average peak-to-trough decline	-3.53%	-6.75%	+3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	3.12%	+0.83%

Volatility

IPAV vs. ROKT - Volatility Comparison

The current volatility for Global X Infrastructure Development ex-U.S. ETF (IPAV) is 6.49%, while SPDR S&P Kensho Final Frontiers ETF (ROKT) has a volatility of 13.10%. This indicates that IPAV experiences smaller price fluctuations and is considered to be less risky than ROKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAV	ROKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	13.10%	-6.61%
Volatility (6M) Calculated over the trailing 6-month period	14.59%	24.98%	-10.39%
Volatility (1Y) Calculated over the trailing 1-year period	17.08%	28.89%	-11.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	22.78%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	25.14%	-7.45%

IPAV vs. ROKT - Expense Ratio Comparison

IPAV has a 0.55% expense ratio, which is higher than ROKT's 0.45% expense ratio.

Dividends

IPAV vs. ROKT - Dividend Comparison

IPAV's dividend yield for the trailing twelve months is around 1.13%, more than ROKT's 0.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IPAV Global X Infrastructure Development ex-U.S. ETF	1.13%	1.29%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROKT SPDR S&P Kensho Final Frontiers ETF	0.27%	0.41%	0.57%	0.62%	0.54%	1.79%	0.48%	0.74%	0.16%

Frequently Asked Questions

Can I hold both IPAV and ROKT in my portfolio?

IPAV and ROKT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAV or ROKT?

ROKT has higher volatility (13.10%) compared to IPAV (6.49%). In terms of maximum drawdown, IPAV dropped -14.59% vs ROKT's -43.16%.

Which ETF is better, IPAV or ROKT?

On 1-year performance, ROKT leads with 111.37% vs 29.12% for IPAV. On fees, ROKT is cheaper at 0.45% per year. On volatility, IPAV has been the lower-risk option at 6.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAV or ROKT?

Over the 1-year period, ROKT has performed better with a 111.37% return vs 29.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAV or ROKT?

ROKT is cheaper with a 0.45% expense ratio, compared with 0.55% for IPAV.

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

IPAV has the higher dividend yield at 1.13%, compared with 0.27% for ROKT.

What is the main difference between IPAV and ROKT?

IPAV tracks Global X Infrastructure Development ex-U.S. Index, while ROKT tracks S&P Kensho Final Frontiers Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.55% for IPAV and 0.45% for ROKT.

Which has better risk-adjusted returns?

ROKT currently has the higher Sharpe Ratio (3.88 vs 1.71), 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.