JEDG.L vs. PAVE.L
JEDG.L (VanEck Space Innovators UCITS ETF) and PAVE.L (Global X U.S. Infrastructure Development UCITS ETF USD Accumulating) are both Industrials Equities funds - JEDG.L tracks the MSCI World/Materials NR USD while PAVE.L tracks the Indxx U.S. Infrastructure Development v2 Index. Both are passively managed. Over the past 3 years, JEDG.L returned 54.19%/yr vs 24.64%/yr for PAVE.L. At a 0.49 correlation, their price movements are largely independent. JEDG.L charges 0.55%/yr vs 0.47%/yr for PAVE.L.
Performance
JEDG.L vs. PAVE.L - Performance Comparison
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Different Trading Currencies
JEDG.L is traded in GBP, while PAVE.L is traded in USD. To make them comparable, the PAVE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JEDG.L achieves a 35.90% return, which is significantly higher than PAVE.L's 26.03% return.
JEDG.L
- 1D
- 0.00%
- 1M
- -32.57%
- YTD
- 35.90%
- 6M
- 31.50%
- 1Y
- 105.62%
- 3Y*
- 54.19%
- 5Y*
- —
- 10Y*
- —
PAVE.L
- 1D
- 1.29%
- 1M
- 8.98%
- YTD
- 26.03%
- 6M
- 25.18%
- 1Y
- 45.84%
- 3Y*
- 24.64%
- 5Y*
- —
- 10Y*
- —
JEDG.L vs. PAVE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JEDG.L VanEck Space Innovators UCITS ETF | 35.90% | 80.38% | 46.13% | 6.44% | -11.57% |
PAVE.L Global X U.S. Infrastructure Development UCITS ETF USD Accumulating | 26.03% | 11.27% | 20.02% | 24.98% | 20.54% |
Correlation
The correlation between JEDG.L and PAVE.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.49 |
The correlation between JEDG.L and PAVE.L shifts across timeframes, from 0.35 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JEDG.L vs. PAVE.L — Risk / Return Rank
JEDG.L
PAVE.L
JEDG.L vs. PAVE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Space Innovators UCITS ETF (JEDG.L) and Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L). 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.
| JEDG.L | PAVE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.42 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 4.56 | -1.35 |
| Martin ratioReturn relative to average drawdown | 11.15 | 16.30 | -5.15 |
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Drawdowns
JEDG.L vs. PAVE.L - Drawdown Comparison
The maximum JEDG.L drawdown since its inception was -33.09%, which is greater than PAVE.L's maximum drawdown of -28.27%. Use the drawdown chart below to compare losses from any high point for JEDG.L and PAVE.L.
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Drawdown Indicators
| JEDG.L | PAVE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.09% | -28.27% | -4.82% |
Max Drawdown (1Y)Largest decline over 1 year | -33.09% | -10.00% | -23.09% |
Max Drawdown (3Y)Largest decline over 3 years | -33.09% | -28.27% | -4.82% |
Current DrawdownCurrent decline from peak | -33.09% | 0.00% | -33.09% |
Average DrawdownAverage peak-to-trough decline | -9.12% | -5.43% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.51% | 2.81% | +6.70% |
Volatility
JEDG.L vs. PAVE.L - Volatility Comparison
VanEck Space Innovators UCITS ETF (JEDG.L) has a higher volatility of 15.82% compared to Global X U.S. Infrastructure Development UCITS ETF USD Accumulating (PAVE.L) at 5.50%. This indicates that JEDG.L's price experiences larger fluctuations and is considered to be riskier than PAVE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JEDG.L | PAVE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.82% | 5.50% | +10.32% |
Volatility (6M)Calculated over the trailing 6-month period | 35.92% | 14.44% | +21.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.16% | 18.06% | +28.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.60% | 20.86% | +12.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.60% | 20.86% | +12.74% |
JEDG.L vs. PAVE.L - Expense Ratio Comparison
JEDG.L has a 0.55% expense ratio, which is higher than PAVE.L's 0.47% expense ratio.
Dividends
JEDG.L vs. PAVE.L - Dividend Comparison
Neither JEDG.L nor PAVE.L has paid dividends to shareholders.
Frequently Asked Questions
JEDG.L and PAVE.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAVE.L is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAVE.L is cheaper with a 0.47% expense ratio, compared with 0.55% for JEDG.L.
JEDG.L tracks MSCI World/Materials NR USD, while PAVE.L tracks Indxx U.S. Infrastructure Development v2 Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.55% for JEDG.L and 0.47% for PAVE.L.
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