JEDG.L vs. PAVG.L

Last updated Jul 18, 2026

JEDG.L (VanEck Space Innovators UCITS ETF) and PAVG.L (Global X U.S. Infrastructure Development UCITS ETF USD (Dist)) are both Industrials Equities funds - JEDG.L tracks the MSCI World/Materials NR USD while PAVG.L tracks the Indxx U.S. Infrastructure Development v2 Index. Both are passively managed. Over the past 3 years, JEDG.L returned 45.57%/yr vs 20.18%/yr for PAVG.L. At a 0.48 correlation, their price movements are largely independent. JEDG.L charges 0.55%/yr vs 0.47%/yr for PAVG.L.

Performance

JEDG.L vs. PAVG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Space Innovators UCITS ETF (JEDG.L) and Global X U.S. Infrastructure Development UCITS ETF USD (Dist) (PAVG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEDG.L achieves a 18.85% return, which is significantly higher than PAVG.L's 16.20% return.

JEDG.L

• 1D: 0.00%
• 1M: -19.77%
• 6M: -5.85%
• YTD: 18.85%
• 1Y: 54.14%
• 3Y*: 45.57%
• 5Y*: —
• 10Y*: —

PAVG.L

• 1D: -0.05%
• 1M: -4.39%
• 6M: 8.66%
• YTD: 16.20%
• 1Y: 25.44%
• 3Y*: 20.18%
• 5Y*: —
• 10Y*: —

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

JEDG.L vs. PAVG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JEDG.L VanEck Space Innovators UCITS ETF	18.85%	80.38%	46.13%	6.44%	-11.57%
PAVG.L Global X U.S. Infrastructure Development UCITS ETF USD (Dist)	16.20%	12.40%	19.47%	24.53%	20.61%

Correlation

The correlation between JEDG.L and PAVG.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022	0.48

The correlation between JEDG.L and PAVG.L shifts across timeframes, from 0.32 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JEDG.L vs. PAVG.L — Risk / Return Rank

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

JEDG.L

JEDG.L Risk / Return Rank: 38
JEDG.L Sharpe Ratio Rank: 39
JEDG.L Sortino Ratio Rank: 43
JEDG.L Omega Ratio Rank: 39
JEDG.L Calmar Ratio Rank: 32
JEDG.L Martin Ratio Rank: 35

PAVG.L

PAVG.L Risk / Return Rank: 60
PAVG.L Sharpe Ratio Rank: 58
PAVG.L Sortino Ratio Rank: 59
PAVG.L Omega Ratio Rank: 52
PAVG.L Calmar Ratio Rank: 67
PAVG.L Martin Ratio Rank: 62

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.

JEDG.L vs. PAVG.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 (Dist) (PAVG.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	PAVG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.48	-0.35
Sortino ratio: Return per unit of downside risk	1.78	2.14	-0.35
Omega ratio: Gain probability vs. loss probability	1.21	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.31	2.50	-1.19
Martin ratio: Return relative to average drawdown	4.26	8.02	-3.75

JEDG.L vs. PAVG.L - Sharpe Ratio Comparison

The current JEDG.L Sharpe Ratio is 1.13, which is comparable to the PAVG.L Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of JEDG.L and PAVG.L, 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

JEDG.L vs. PAVG.L - Drawdown Comparison

The maximum JEDG.L drawdown since its inception was -41.49%, which is greater than PAVG.L's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for JEDG.L and PAVG.L.

Drawdown Indicators

	JEDG.L	PAVG.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.49%	-34.28%	-7.21%
Max Drawdown (1Y) Largest decline over 1 year	-41.49%	-10.14%	-31.35%
Max Drawdown (3Y) Largest decline over 3 years	-41.49%	-28.81%	-12.68%
Current Drawdown Current decline from peak	-41.49%	-6.76%	-34.73%
Average Drawdown Average peak-to-trough decline	-9.49%	-11.99%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.74%	3.17%	+9.57%

Volatility

JEDG.L vs. PAVG.L - Volatility Comparison

VanEck Space Innovators UCITS ETF (JEDG.L) has a higher volatility of 15.42% compared to Global X U.S. Infrastructure Development UCITS ETF USD (Dist) (PAVG.L) at 5.51%. This indicates that JEDG.L's price experiences larger fluctuations and is considered to be riskier than PAVG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEDG.L	PAVG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.42%	5.51%	+9.91%
Volatility (6M) Calculated over the trailing 6-month period	37.65%	13.74%	+23.91%
Volatility (1Y) Calculated over the trailing 1-year period	48.31%	17.28%	+31.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.17%	23.19%	+10.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.17%	23.19%	+10.98%

JEDG.L vs. PAVG.L - Expense Ratio Comparison

JEDG.L has a 0.55% expense ratio, which is higher than PAVG.L's 0.47% expense ratio.

Dividends

JEDG.L vs. PAVG.L - Dividend Comparison

JEDG.L has not paid dividends to shareholders, while PAVG.L's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025	2024	2023	2022
JEDG.L VanEck Space Innovators UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%
PAVG.L Global X U.S. Infrastructure Development UCITS ETF USD (Dist)	0.21%	0.43%	0.41%	0.31%	0.58%

Frequently Asked Questions

Can I hold both JEDG.L and PAVG.L in my portfolio?

JEDG.L and PAVG.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEDG.L or PAVG.L?

On fees, PAVG.L is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEDG.L or PAVG.L?

PAVG.L is cheaper with a 0.47% expense ratio, compared with 0.55% for JEDG.L.

What is the main difference between JEDG.L and PAVG.L?

JEDG.L tracks MSCI World/Materials NR USD, while PAVG.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 PAVG.L.