IPAV vs. URA

Last updated Jun 25, 2026

IPAV (Global X Infrastructure Development ex-U.S. ETF) and URA (Global X Uranium ETF) are both exchange-traded funds - IPAV is a Industrials Equities fund tracking the Global X Infrastructure Development ex-U.S. Index, while URA is a Uranium fund tracking the Solactive Global Uranium & Nuclear Components Total Return Index. Both are passively managed. Over the past year, IPAV returned 23.53% vs 21.17% for URA. A 0.50 correlation means they provide meaningful diversification when combined. IPAV charges 0.55%/yr vs 0.69%/yr for URA.

Performance

IPAV vs. URA - 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 Uranium ETF (URA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAV achieves a 10.73% return, which is significantly higher than URA's 4.66% return.

IPAV

• 1D: -0.73%
• 1M: -2.48%
• YTD: 10.73%
• 6M: 10.94%
• 1Y: 23.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

URA

• 1D: -1.89%
• 1M: -8.66%
• YTD: 4.66%
• 6M: 0.63%
• 1Y: 21.17%
• 3Y*: 33.83%
• 5Y*: 19.79%
• 10Y*: 16.20%

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

IPAV vs. URA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPAV Global X Infrastructure Development ex-U.S. ETF	10.73%	29.77%	-6.87%
URA Global X Uranium ETF	4.66%	67.18%	2.52%

Correlation

The correlation between IPAV and URA is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024	0.50

The correlation between IPAV and URA has been stable across timeframes, ranging from 0.49 to 0.50 - a consistent structural relationship.

IPAV vs. URA - Sectors Allocation Comparison

Sectors	IPAV	URA
Industrials	45.9%	22.7%
Basic Materials	30.5%	4.8%
Communication Services	4.2%	-
Energy	1.0%	64.2%
Utilities	0.7%	7.4%
Real Estate	0.3%	-
Consumer Cyclical	0.1%	-
Technology	0.1%	0.9%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-

Return for Risk

IPAV vs. URA — Risk / Return Rank

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

IPAV

IPAV Risk / Return Rank: 41
IPAV Sharpe Ratio Rank: 42
IPAV Sortino Ratio Rank: 43
IPAV Omega Ratio Rank: 42
IPAV Calmar Ratio Rank: 36
IPAV Martin Ratio Rank: 40

URA

URA Risk / Return Rank: 17
URA Sharpe Ratio Rank: 15
URA Sortino Ratio Rank: 18
URA Omega Ratio Rank: 17
URA Calmar Ratio Rank: 17
URA Martin Ratio Rank: 16

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. URA - 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 Uranium ETF (URA). 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.

	IPAV	URA	Difference
Sharpe ratio: Return per unit of total volatility	1.33	0.41	+0.91
Sortino ratio: Return per unit of downside risk	1.96	0.94	+1.02
Omega ratio: Gain probability vs. loss probability	1.24	1.11	+0.14
Calmar ratio: Return relative to maximum drawdown	1.62	0.68	+0.94
Martin ratio: Return relative to average drawdown	5.56	1.44	+4.12

IPAV vs. URA - Sharpe Ratio Comparison

The current IPAV Sharpe Ratio is 1.33, which is higher than the URA Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of IPAV and URA, 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

IPAV vs. URA - Drawdown Comparison

The maximum IPAV drawdown since its inception was -14.59%, smaller than the maximum URA drawdown of -93.54%. Use the drawdown chart below to compare losses from any high point for IPAV and URA.

Drawdown Indicators

	IPAV	URA	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-93.54%	+78.95%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-31.48%	+16.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.45%	—
Current Drawdown Current decline from peak	-7.59%	-49.25%	+41.66%
Average Drawdown Average peak-to-trough decline	-3.61%	-74.89%	+71.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	14.69%	-10.45%

Volatility

IPAV vs. URA - Volatility Comparison

The current volatility for Global X Infrastructure Development ex-U.S. ETF (IPAV) is 6.87%, while Global X Uranium ETF (URA) has a volatility of 17.92%. This indicates that IPAV experiences smaller price fluctuations and is considered to be less risky than URA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAV	URA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.87%	17.92%	-11.05%
Volatility (6M) Calculated over the trailing 6-month period	15.79%	39.35%	-23.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.95%	51.33%	-33.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.01%	43.91%	-25.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	37.94%	-19.93%

IPAV vs. URA - Expense Ratio Comparison

IPAV has a 0.55% expense ratio, which is lower than URA's 0.69% expense ratio.

Dividends

IPAV vs. URA - Dividend Comparison

IPAV's dividend yield for the trailing twelve months is around 1.16%, less than URA's 4.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPAV Global X Infrastructure Development ex-U.S. ETF	1.16%	1.29%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
URA Global X Uranium ETF	4.66%	4.88%	2.86%	6.07%	0.76%	5.84%	1.69%	1.66%	0.44%	2.03%	7.28%	1.96%

Frequently Asked Questions

Can I hold both IPAV and URA in my portfolio?

IPAV and URA have a correlation of 0.49, 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 URA?

URA has higher volatility (17.92%) compared to IPAV (6.87%). In terms of maximum drawdown, IPAV dropped -14.59% vs URA's -93.54%.

Which ETF is better, IPAV or URA?

On 1-year performance, IPAV leads with 23.53% vs 21.17% for URA. On fees, IPAV is cheaper at 0.55% per year. On volatility, IPAV has been the lower-risk option at 6.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAV or URA?

Over the 1-year period, IPAV has performed better with a 23.53% return vs 21.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAV or URA?

IPAV is cheaper with a 0.55% expense ratio, compared with 0.69% for URA.

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

URA has the higher dividend yield at 4.66%, compared with 1.16% for IPAV.

What is the main difference between IPAV and URA?

IPAV is categorized as Industrials Equities, while URA is Uranium. IPAV tracks Global X Infrastructure Development ex-U.S. Index, while URA tracks Solactive Global Uranium & Nuclear Components Total Return Index. Their fees differ too: 0.55% for IPAV and 0.69% for URA.

Which has better risk-adjusted returns?

IPAV currently has the higher Sharpe Ratio (1.33 vs 0.41), 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.