ITRI vs. PAVE

Last updated Jun 5, 2026

ITRI (Itron, Inc.) is a stock, while PAVE (Global X US Infrastructure Development ETF) is Utilities Equities fund tracking the INDXX U.S. Infrastructure Development Index. Over the past 5 years, ITRI returned -3.14%/yr vs 17.52%/yr for PAVE. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

ITRI vs. PAVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Itron, Inc. (ITRI) and Global X US Infrastructure Development ETF (PAVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITRI achieves a -12.72% return, which is significantly lower than PAVE's 20.55% return.

ITRI

• 1D: -1.30%
• 1M: -3.99%
• YTD: -12.72%
• 6M: -18.26%
• 1Y: -32.22%
• 3Y*: 5.54%
• 5Y*: -3.14%
• 10Y*: 6.03%

PAVE

• 1D: 0.56%
• 1M: 0.42%
• YTD: 20.55%
• 6M: 19.00%
• 1Y: 37.89%
• 3Y*: 27.31%
• 5Y*: 17.52%
• 10Y*: —

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

ITRI vs. PAVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITRI Itron, Inc.	-12.72%	-14.48%	43.80%	49.08%	-26.08%	-28.55%	14.23%	77.52%	-30.66%	16.18%
PAVE Global X US Infrastructure Development ETF	20.55%	19.36%	17.92%	31.01%	-7.17%	36.42%	19.72%	33.26%	-19.15%	14.11%

Correlation

The correlation between ITRI and PAVE is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.63

The correlation between ITRI and PAVE has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.

Return for Risk

ITRI vs. PAVE — Risk / Return Rank

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

ITRI

ITRI Risk / Return Rank: 12
ITRI Sharpe Ratio Rank: 9
ITRI Sortino Ratio Rank: 12
ITRI Omega Ratio Rank: 10
ITRI Calmar Ratio Rank: 14
ITRI Martin Ratio Rank: 13

PAVE

PAVE Risk / Return Rank: 62
PAVE Sharpe Ratio Rank: 62
PAVE Sortino Ratio Rank: 63
PAVE Omega Ratio Rank: 56
PAVE Calmar Ratio Rank: 65
PAVE Martin Ratio Rank: 65

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.

ITRI vs. PAVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Itron, Inc. (ITRI) and Global X US Infrastructure Development ETF (PAVE). 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.

	ITRI	PAVE	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	2.02	-2.84
Sortino ratio: Return per unit of downside risk	-0.94	2.86	-3.80
Omega ratio: Gain probability vs. loss probability	0.86	1.34	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.74	3.19	-3.94
Martin ratio: Return relative to average drawdown	-1.27	11.72	-12.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITRI vs. PAVE - Sharpe Ratio Comparison

The current ITRI Sharpe Ratio is -0.82, which is lower than the PAVE Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of ITRI and PAVE, 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

	ITRI	PAVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.82	2.02	-2.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.81	-0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.68	-0.58

Drawdowns

ITRI vs. PAVE - Drawdown Comparison

The maximum ITRI drawdown since its inception was -94.36%, which is greater than PAVE's maximum drawdown of -44.08%. Use the drawdown chart below to compare losses from any high point for ITRI and PAVE.

Drawdown Indicators

	ITRI	PAVE	Difference
Max Drawdown Largest peak-to-trough decline	-94.36%	-44.08%	-50.28%
Max Drawdown (1Y) Largest decline over 1 year	-43.64%	-11.91%	-31.73%
Max Drawdown (3Y) Largest decline over 3 years	-43.64%	-26.23%	-17.41%
Max Drawdown (5Y) Largest decline over 5 years	-58.57%	-26.23%	-32.34%
Max Drawdown (10Y) Largest decline over 10 years	-65.26%	—	—
Current Drawdown Current decline from peak	-41.45%	-1.27%	-40.18%
Average Drawdown Average peak-to-trough decline	-46.58%	-6.24%	-40.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.49%	3.24%	+22.25%

Volatility

ITRI vs. PAVE - Volatility Comparison

Itron, Inc. (ITRI) has a higher volatility of 9.13% compared to Global X US Infrastructure Development ETF (PAVE) at 6.10%. This indicates that ITRI's price experiences larger fluctuations and is considered to be riskier than PAVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITRI	PAVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.13%	6.10%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	25.61%	15.18%	+10.43%
Volatility (1Y) Calculated over the trailing 1-year period	39.67%	18.80%	+20.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.81%	21.60%	+21.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.27%	24.38%	+18.89%

Dividends

ITRI vs. PAVE - Dividend Comparison

ITRI has not paid dividends to shareholders, while PAVE's dividend yield for the trailing twelve months is around 0.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITRI Itron, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAVE Global X US Infrastructure Development ETF	0.76%	0.92%	0.54%	0.68%	0.84%	0.48%	0.44%	0.67%	0.78%	0.30%

Frequently Asked Questions

Can I hold both ITRI and PAVE in my portfolio?

ITRI and PAVE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITRI or PAVE?

ITRI has higher volatility (9.13%) compared to PAVE (6.10%). In terms of maximum drawdown, ITRI dropped -94.36% vs PAVE's -44.08%.

Which has better risk-adjusted returns?

PAVE currently has the higher Sharpe Ratio (2.02 vs -0.81), 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.