IVEP vs. HWAY

Last updated Jun 4, 2026

IVEP (Dan IVES Wedbush AI Power & Infrastructure ETF) and HWAY (Themes US Infrastructure ETF) are both Industrials Equities funds - IVEP tracks the Solactive Wedbush AI Power & Infrastructure Index while HWAY tracks the Solactive United States Infrastructure Index. Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. IVEP charges 0.75%/yr vs 0.29%/yr for HWAY.

Performance

IVEP vs. HWAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP) and Themes US Infrastructure ETF (HWAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IVEP

• 1D: -0.87%
• 1M: -1.63%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HWAY

• 1D: 0.93%
• 1M: 3.11%
• YTD: 22.83%
• 6M: 21.62%
• 1Y: 42.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVEP vs. HWAY - Yearly Performance Comparison

	2026 (YTD)
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	8.37%
HWAY Themes US Infrastructure ETF	8.26%

Correlation

The correlation between IVEP and HWAY is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.66

Return for Risk

IVEP vs. HWAY — Risk / Return Rank

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

HWAY

HWAY Risk / Return Rank: 66
HWAY Sharpe Ratio Rank: 67
HWAY Sortino Ratio Rank: 67
HWAY Omega Ratio Rank: 61
HWAY Calmar Ratio Rank: 69
HWAY Martin Ratio Rank: 69

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.

IVEP vs. HWAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP) and Themes US Infrastructure ETF (HWAY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IVEP	HWAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.62	1.25	+1.38

Drawdowns

IVEP vs. HWAY - Drawdown Comparison

The maximum IVEP drawdown since its inception was -7.34%, smaller than the maximum HWAY drawdown of -25.96%. Use the drawdown chart below to compare losses from any high point for IVEP and HWAY.

Drawdown Indicators

	IVEP	HWAY	Difference
Max Drawdown Largest peak-to-trough decline	-7.34%	-25.96%	+18.62%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.63%	—
Current Drawdown Current decline from peak	-3.31%	-1.26%	-2.05%
Average Drawdown Average peak-to-trough decline	-1.97%	-5.38%	+3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.41%	—

Volatility

Volatility by Period

	IVEP	HWAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.29%	19.75%	+6.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.29%	22.42%	+3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.29%	22.42%	+3.87%

IVEP vs. HWAY - Expense Ratio Comparison

IVEP has a 0.75% expense ratio, which is higher than HWAY's 0.29% expense ratio.

Dividends

IVEP vs. HWAY - Dividend Comparison

IVEP has not paid dividends to shareholders, while HWAY's dividend yield for the trailing twelve months is around 1.05%.

Position	TTM	2025	2024
HWAY Themes US Infrastructure ETF	1.05%	1.29%	0.22%
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVEP and HWAY in my portfolio?

IVEP and HWAY have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVEP or HWAY?

On fees, HWAY is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVEP or HWAY?

HWAY is cheaper with a 0.29% expense ratio, compared with 0.75% for IVEP.

Which ETF pays a higher dividend yield, IVEP or HWAY?

HWAY has the higher dividend yield at 1.05%, compared with 0.00% for IVEP.

What is the main difference between IVEP and HWAY?

IVEP tracks Solactive Wedbush AI Power & Infrastructure Index, while HWAY tracks Solactive United States Infrastructure Index. They also come from different issuers: Wedbush and Themes. Their fees differ too: 0.75% for IVEP and 0.29% for HWAY.